Hi everyone,
I've been silent on the boards for quite some time. I'm at a point now where I need to take up the rebuilding battle again, and I could use some advice on how to go about it.
I have fought to get my credit score back up to around 600 over the last couple of years. But my problem has always been waiting for the foreclosure to go through on my house. Every month that was hitting my credit report with a late payment while I was working with the banks to try to get the foreclosure finalized. Paperwork was just processed finally this month after almost 2 years. I've been using PFD letters and such to remove any other negatives from my credit report, and I am now down to two baddies - the home loan and a Verizon Wireless charge-off from a couple years ago. I've also got two paid state income tax liens that are showing on my report that were paid in full and released last year. There is no way to get these removed from my report - so there they sit aging off.
Does anyone have any experience with what kind of hit I can expect when the foreclosure shows on my report? What are my steps from here to continue rebuilding my credit? Currently I have in my favor:
Care Credit Card - $500 limit $400 balance (no lates)
Capital One Secured Card - $400 limit $0 balance (no lates)
Ally Auto Loan - closed good standing
Americredit Auto Loan - $505 monthly payment (no lates)
2 Student Loans - total $50 payment (no lates)
I am making all of my payments on time, and most times I am paying more than the minimum. Care Credit is from my dog's surgery that I am working on paying down (should be paid off next month). I just don't know where to go from here given that I have a mix of credit and am making my payments on time. Is my only option to wait?
Starting Score: 577 EX 9/9/2015
Seems like you're on the right path. Time heals all wounds, but there are some things to do while waiting. I'd send a GW letter once a month to the baddies that are left. You have some positives, so garden those well.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
