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Frequent Contributor
Cheryla18
Posts: 449
Registered: ‎10-13-2009
0

Help with paying off debt

Okay so I have been paying off some of my old debit and a few new ones. Not getting much of a score change....then i get hit with a huge decrease..not sure if it had to do with a 30 day late on a joint acct with me and my mom that is closed or what. I even had 1 new collection removed. I was for sure that this would make my score go up. :smileysad:

 

Now the acct I am joint on with my mom...she closed this acct without asking me about 2 yrs ago....but has been making the montly payments with NO lates at all until last month...she had a 30 day late....she lives 5 states away so I had no idea.....but the alert I got said for an acct which is Kohl's/Capital One that was an inactive acct. How does that help or hurt your credit.

 

Help I don't know what to do. Myfico has me all the way down to 492 :smileysad:  which is always lower than other mointoring places i use.

 

Should i apply for a Credit card...I am at just lost

 

Cheryl

myFico EQ 612 (8/14) 596 (2/14) 574 (12/13) 497(1-7-13
myFico Exp 626 (2-10-14) 602 (11-17-13)
MyFico TU 618 (2-10-14) 589 (11-17-13)
Current Goal 640
Final Goal. 700
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Help with paying off debt

Inactive as in closed or just not used?

 

If there is a balance, closed or not, and she was late it will impact your score.  The higher your score the more of a impact the late would have.

 

Is that all you have on your CR, the joint account with your mom?

Frequent Contributor
Cheryla18
Posts: 449
Registered: ‎10-13-2009
0

Re: Help with paying off debt

guiness56 wrote:

Inactive as in closed or just not used?

 

If there is a balance, closed or not, and she was late it will impact your score.  The higher your score the more of a impact the late would have.

 

Is that all you have on your CR, the joint account with your mom?


It shows that it's a closed acct  requested by her and the balance was 781.00 when the late appeared BUT that 30 day late showed up in EARLY April 2013...and my score keeps dropping :smileysad:

Yes it shows that its joint and everything.

myFico EQ 612 (8/14) 596 (2/14) 574 (12/13) 497(1-7-13
myFico Exp 626 (2-10-14) 602 (11-17-13)
MyFico TU 618 (2-10-14) 589 (11-17-13)
Current Goal 640
Final Goal. 700

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