Today I called 1st Financial Bank, my biggest debt which is charged off and my key to bringing my score up. Because of this charge off I am using over 100% of my utilization even with my other cards being paid off.
I owe $5,600something and had a $4,900 limit. Eeeek.
Surprisingly, the account specialist I spoke with was very nice. He asked if I knew what happened as to "why I let this happen" and I briefly explained my situation with my parents and he was very apologetic and sincerely seemed to understand as he told me he also lost his parents at a young age. ANYWAY...
He told me my account has been frozen since September of 2011 and will no longer have fees/interested added to it. THANK YOU SWEET BABY JESUS. They also do not sell the debt to CAs, so that good news too. I got a payment plan. 
I told him right now I can only do about $100/month and he said their minimum is $125. I'm sure they would take any money, but I agreed to the $125/month for 6 months. They do payment plans for 6 months then you call back and see where you are financially and see if you can pay more a month. I can also, of course, call and make extra payments if I find myself with "extra" funds. They also update on the last day of the month so my new balances will be reported monthly.
In 6 months, I will have my last collection paid off and then will be able to put what I'm paying towards the collection towards the CO. And then of course, I will have my christmas bonus from work, whatever I don't use from my sick/vacation days and then my tax refund. I'll have a good dent in it by this time next year.
It's veeeery small progress, but progress nonetheless. My score isn't going to bump up much anymore until I pay and get this collection deleted and pay off this CO.
First payment is scheduled for Monday!
Here's to being even more broke but doing what needs to be done!
@SLR72689 wrote:Today I called 1st Financial Bank, my biggest debt which is charged off and my key to bringing my score up. Because of this charge off I am using over 100% of my utilization even with my other cards being paid off.
I owe $5,600something and had a $4,900 limit. Eeeek.
Surprisingly, the account specialist I spoke with was very nice. He asked if I knew what happened as to "why I let this happen" and I briefly explained my situation with my parents and he was very apologetic and sincerely seemed to understand as he told me he also lost his parents at a young age. ANYWAY...
He told me my account has been frozen since September of 2011 and will no longer have fees/interested added to it. THANK YOU SWEET BABY JESUS. They also do not sell the debt to CAs, so that good news too. I got a payment plan.
In 6 months, I will have my last collection paid off and then will be able to put what I'm paying towards the collection towards the CO. And then of course, I will have my christmas bonus from work, whatever I don't use from my sick/vacation days and then my tax refund. I'll have a good dent in it by this time next year.
It's veeeery small progress, but progress nonetheless. My score isn't going to bump up much anymore until I pay and get this collection deleted and pay off this CO.
First payment is scheduled for Monday!
Here's to being even more broke but doing what needs to be done!
Steps in the correct direction: Yay! More congrats
Normally, I'm not a Monday kind of girl... but today, I am!
Got a scorewatch alert that myFico went up 7 points and is at a 597! 600s... I'm coming for you!! 
AND today my first payment will be taken out to begin paying off my biggest debt - 1st Financial Bank USA charged off credit card. Never thought I'd be excited to be "spending" money but I am so ready to get this big, bad boy paid off and get on with my life.
I think tonight I will have a glass of wine to celebrate! 
You're doing a great job. I will be following your progress. Keep it up!
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.
FAKO Scores as of 2/8/13:
Experian: 485
TransUnion: 503
Equifax: 590
FAKO Scores as of 3/10/13:
Experian: 582 +97 points.
TransUnion: 538 +35 points but -38 points from March myFico score.
Equifax: 591 +1 point.
FAKO Scores as of 4/10/13:
Experian: 601 +19 points
TransUnion: 541 +3 points
Equifax: 603 +12 points
Changes on my report this month:
- Victoria Secret (Comenity Bank) now is reporting. Yay positive TL!!
- 1FBUSA reported my payment of $125 bringing down my balance on my CO.
- Best Buy updated my balance from $1395 to $395.
- 1 new HP inquiry.
- Midland added a dispute comment to my collection.
Any movement is good movement!!! Can't wait till myFico score is in the 600s!
You are so inspiring! I wish I was as mature as you are at your age! Keep up the great work and I look forward to following your progress!!
Starting Score: 524
@aurelie00 wrote:You are so inspiring! I wish I was as mature as you are at your age! Keep up the great work and I look forward to following your progress!!
Thanks so much