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I think I am officially done rebuilding!

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mtrsprt
Frequent Contributor

I think I am officially done rebuilding!

It's been a long but well worth it 3.5 years of rebuilding, but now I have gone above my goals, and am very credit worthy once again.  Thank You for all the wonderful information I have learned from, and used to my advantage from this website over the past 3.5-4 years.

 

7 years ago, I let about 9 revolving accounts (Citi,Chase,etc), with over $25,000 owed, go into collections and stopped paying everyone.  It was very rough having the phone ring off the hook many times a day for YEARS.  Not to mention calling my work, family, friends, etc.  After 4 years, I decided it was tough not having credit.  Auto insurance premiums were high, I couldn't finance a thing (I expected this, and didn't really try to finance much anyway), and I felt like I was not worthy of anything.

 

I took out about $13,000.00 out of my retirement, and started settling with all the collectors first.  I had decided to have have all of my balances paid on my reports.  I had a long history, but MANY MANY MANY bad marks.  60/90/120 day lates, you name it.   After letting the collection/charge off accounts sit for 3-4 years, everything pretty much stabilized and aged.  When I joined this site, and pulled my first FICO's, it hit me like a brick.  My starting scores are in my sig.  Since I didn't have any Capital One accounts in past during that time, I gave Capital One a shot on helping me with having revolving credit.  Low and behold, they accepted me with an unsecured $300.00 CL Platinum card.  From then on, I did exactly what you people on this site had preached.  It worked.

 

I now hold 6-7 revolving accounts, 2 installment loans, and a home mortgage at 3.1%.  Total credit line is $28,000, and I keep my utilization between 6-14% or lower depending on statement cuts.  All my creditors (except Capital One) have been very generous to me.  

 

My last updated scores are in my sig.   Thank you myFICO, and to all of you that help out on these forums.  I have also learned so much, that I have helped many others rebuild.  I almost feel like somewhat of a "Guru" now. Smiley Happy

 

I will still contribute and read the forums here.  It's a wonderful place.


Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 753 TU, 764 EQ, 766 EX on 02/17/2014
Goal Score: 720-740 Across the board


Take the FICO Fitness Challenge
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: I think I am officially done rebuilding!

Congraaaats!!!... but I can't see your signature Smiley Sad
Message 2 of 4
mtrsprt
Frequent Contributor

Re: I think I am officially done rebuilding!

My apologies!

 

For those on smartphones....... Here are the starting scores and current scores.

 

Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011

 

Current Score: 753 TU, 748 EQ, 766 EX on 11/13/2014

 

 

 

 


Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 753 TU, 764 EQ, 766 EX on 02/17/2014
Goal Score: 720-740 Across the board


Take the FICO Fitness Challenge
Message 3 of 4
Anonymous
Not applicable

Re: I think I am officially done rebuilding!

Congrats! 

 

It's very motivating to hear that it's possible to climb your way back like that.  I wish you continued success and hope you continue posting and helping others.

 

Thanks

Message 4 of 4
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