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New Visitor
LeeAnna
Posts: 4
Registered: ‎01-10-2013
0

Help improving my credit after paying 26k in cc debt in 3 yrs

Hello All,

I have read your blog posts for the past few months and have loved them.  I am hoping to buy a house in about 6 months and I would like some help.  I paid off about 26k in cc debt in a short time and got a secured card to help build credit. I still have a tremendous amount of student loan debt but my DTI isn't too bad. I don't know hat else I can do to help my credit. My current TU score is 655 and I would prefer to get the best rate. The vast majority of my negatives are past late payments. Am I being unrealistic?

 

TU-655

Credit sesame - 692

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Help improving my credit after paying 26k in cc debt in 3 yrs

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

 

Congrats on paying off $26k in CC debt! Since you opened a secured CC, am I right to assume that the CC debt was on closed accounts or charged-off accounts? In any case, send GW letters on any paid account that shows a late or is a derog. Keep the age of the account in mind on any closed account. Avoid messing with the oldest. Make sure you have a FICO.

New Visitor
LeeAnna
Posts: 4
Registered: ‎01-10-2013
0

Re: Help improving my credit after paying 26k in cc debt in 3 yrs

Thanks to this blog, I was able to send 4 letters. One from citi is requesting more info, two said the debt was accurate ( nelnet and boa) waiting  on one more.  Will follow up with citi.  TU is a FICO score

New Visitor
LeeAnna
Posts: 4
Registered: ‎01-10-2013
0

Re: Help improving my credit after paying 26k in cc debt in 3 yrs

Sent GW letters.

 

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Help improving my credit after paying 26k in cc debt in 3 yrs

Good work, let's hope those GWs get some results!


Starting Score: 504

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!
New Visitor
LeeAnna
Posts: 4
Registered: ‎01-10-2013
0

Re: Help improving my credit after paying 26k in cc debt in 3 yrs

Thanks. I just don't know if I am on the right track. 

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Help improving my credit after paying 26k in cc debt in 3 yrs

Definitely looks like it to me.


Starting Score: 504

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!

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