I feel like crying!!! I lost 15 point for being responsible.

[Anonymous]

We are desperate to buy our first home in May of 2017. So I have some time. I've been working on the credit since Septemer. When I pulled my scores from CCT they were 533, 525, and 522. I PFD a few things and sent gws and got them up to 607, 614, 605 in January. Things were looking up. Then, a week ago I paid off my truck loan. I knew this would hurt a little since it's my only installment type of credit to the mix. But I really need to lower or DTI for the mortgage since we are on one income. I also was paying an awful rate. Anyway, I lost 15 points! Seeing a number with a 5 in front killed me! I worked so hard for those 15 points! What do I do now? Any advice would help! Here's the baddies I have left

Experian
10 months since any lates
Collections
1. AFNI $546 (paid but not yet deleted)
2. Verizon Recovery $406 (send Pfd but they keep ignoring it)
3. Summit Collections $179
Judgements
1. 5,400
2. 3,200
(Both are not mine! They are from a small business I owned but I'm having a hard time getting them removed.)

Any advice would be extremely helpful!
I have 4 cc revolving accounts that always report between 5-8% utilization with half always at $0.

I need these score back over 600 asap for my sanity! And I'd like to have them in the 700s by May 2017. Please give suggestions.

[Anonymous]

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@Anonymous wrote:
We are desperate to buy our first home in May of 2017. So I have some time. I've been working on the credit since Septemer. When I pulled my scores from CCT they were 533, 525, and 522. I PFD a few things and sent gws and got them up to 607, 614, 605 in January. Things were looking up. Then, a week ago I paid off my truck loan. I knew this would hurt a little since it's my only installment type of credit to the mix. But I really need to lower or DTI for the mortgage since we are on one income. I also was paying an awful rate. Anyway, I lost 15 points! Seeing a number with a 5 in front killed me! I worked so hard for those 15 points! What do I do now? Any advice would help! Here's the baddies I have left

Experian
10 months since any lates
Collections
1. AFNI $546 (paid but not yet deleted)
2. Verizon Recovery $406 (send Pfd but they keep ignoring it)
3. Summit Collections $179
Judgements
1. 5,400
2. 3,200
(Both are not mine! They are from a small business I owned but I'm having a hard time getting them removed.)

Any advice would be extremely helpful!
I have 4 cc revolving accounts that always report between 5-8% utilization with half always at $0.

I need these score back over 600 asap for my sanity! And I'd like to have them in the 700s by May 2017. Please give suggestions.

---

Take a deep breath!!! Paying off your loan you take an initial ding in your credit but it sounds like you're doing evertyhing you need to be doing to bring up your credit. It takes time. May 2017 is quite some time away and it sounds like you're right on your way to getting there. Keep working on those badies. 


I'm not sure about the judgements maybe someone can chime in on that. 

[Anonymous]

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@Anonymous wrote:
We are desperate to buy our first home in May of 2017. So I have some time. I've been working on the credit since Septemer. When I pulled my scores from CCT they were 533, 525, and 522. I PFD a few things and sent gws and got them up to 607, 614, 605 in January. Things were looking up. Then, a week ago I paid off my truck loan. I knew this would hurt a little since it's my only installment type of credit to the mix. But I really need to lower or DTI for the mortgage since we are on one income. I also was paying an awful rate. Anyway, I lost 15 points! Seeing a number with a 5 in front killed me! I worked so hard for those 15 points! What do I do now? Any advice would help! Here's the baddies I have left

Experian
10 months since any lates
Collections
1. AFNI $546 (paid but not yet deleted)
2. Verizon Recovery $406 (send Pfd but they keep ignoring it)
3. Summit Collections $179
Judgements
1. 5,400
2. 3,200
(Both are not mine! They are from a small business I owned but I'm having a hard time getting them removed.)

Any advice would be extremely helpful!
I have 4 cc revolving accounts that always report between 5-8% utilization with half always at $0.

I need these score back over 600 asap for my sanity! And I'd like to have them in the 700s by May 2017. Please give suggestions.

---

What do you mean the judgements are not yours, but you owned the small business?? Who's are they??

[Anonymous]

They belong to the business. It was an llc business so they shouldn't be on my personal report.

[Anonymous]

Really, taking a temporary hit due to paying something off is not something to be concerned with. In the bigger picture, you haven't done anything to take a long-term hit, and that's what's important, right?

[Anonymous]

Thank you invaderofbunnie it was a major disappointment this morning. This credit repair thing is a huge emotional roller coaster. One thing is for sure! No matter how bad things get after all this, I'll never let it get ruined ever again. I was just telling my husband that I'd seriously ration food before I let something get on our credit again lol.

[Anonymous]

Others have suggested taking out a shared secure loan just to add an installment loan back into the mix. Not sure if that's an option for you or not, but it could help in the short term.

[Anonymous]

Is it actually temporary though? I don't have any other installment accounts? Do you think those points will trickle back?

[Anonymous]

I've thought about it. But I'd still have to pay it off before applying so that we got the lowest DTI possible. And I think I'd take a hit again then.

[Anonymous]

Even if they persist until you have an other installment loan (new vehicle? personal loan?) it's not the same as a true derogatory mark which will last years.