The purpose of this thread is to document my journey from the bottom to the top. I'm going to be as accurate as I can so that hopefully my journey helps others too. I appreciate a lively conversation and can't wait until I'm out of this credit hole and I can help people.
When I got out of the Marine Corps back in 2002 my credit was ok but not good. I didn't have the need for credit and didn't do much to build my credit. I had a great job and honestly didn't mind paying cash for everything I wanted. Then in 2008 my company went bankrupt and I had to scramble. I did ok for a while and then in 2010 I had to have emergency surgery and of course I had no insurance at the time. So here we are in 2013 and I'm at a job that's great and things are looking good, except my credit isn't good. I've been renting a house for 3 years now and the owners have come to me about buying it. I'd like to buy it so my endgame in this adventure is to get a good mortgage rate.
As of today 2/28/2013 my scores are TU 625 (MyFico) EQ 604 (MyFico) EX 596 (USAA CW) The crazy thing is that my TU report has the most stuff on it, mostly bad. Here's how it is.
TransUnion
Elan Fin SVC Closed/Transfered 1/1/07 limit $50 $0 Bal I don't even know what this is
Verizon DE Collection/CO 1/24/11 $164 I thought that this was paid but I'm going to contact Verizon and pay it.
Ancilary SRV Medical/CO 4/17/06 $2000 This should fall off next month so I'm not worried about it
NavyFCU Secured/CO 5/23/2003 $0 Bal $12,000 High Limit This shouldn't even be on here I know it's past 7yrs
Amer Honda Fin Installment/Current 5/19/2003 $0 Bal $1000 High Limit This was paid right and never was late
NavyFCU Auto Loan/Current 10/17/2001 $0 Bal $8173 High Bal This was paid right and never late
NavyFCU Unsecured Loan/Current 10/1/97 $0 Bal $3536 High Bal This was paid right and never late
Baddies
Rec Man Derog 8/30/12 $205 Bal This is for trash service that I cancelled but WM bought the company I had service with and claimed I had a contract
NCO Fin Derog 7/11/12 $385 Bal This is a debt that I owe
NCO Fin Derog 5/26/12 $209 Bal This is a debt that I owe
Cap Credit Med/Derog 5/17/2012 $2480 Bal This is part of the med bills, surgery was in 2011.
Amer Col Ent Med/Derog 1/9/12 $1012 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
Bay Area Rec Med/Derog 12/2/11 $129 Bal ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
FNCL Health Med/Derog 11/15/11 $15,548 Bal ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
LANC Coll Med/Derog 10/13/11 $362 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
ACB Receivable Med/Derog 10/10/11 $85 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
FST Collect Med/Derog 9/2/11 $2307 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
FST Collect Med/Derog 3/22/11 $1758 Bal''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
AARGON Agenct Ind/Derog 7/13/11 $326 Bal I have no idea what this is
CRD PRT Assoc Ind/Derog 8/29/08 $675 Bal This is from Comcast and I believe it's charges for cable boxes that were turned in when I cancelled Comcast
Consumer Adj Ind/Derog 12/13/07 $71 Bal This I have no idea what it is
No liens or judgements
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Equifax
Amer Honda Fin Installment/Current 5/19/2003 $0 Bal $1000 High Limit This was paid right and never was late
NavyFCU Auto Loan/Current 10/17/2001 $0 Bal $8173 High Bal This was paid right and never late
NavyFCU Unsecured Loan/Current 10/1/97 $0 Bal $3536 High Bal This was paid right and never late
Baddies
NavyFCU Secured/CO 5/23/2003 $0 Bal $12,000 High Limit DOFD 5/08 This shouldn't even be on here I know it's past 7yrs
Verizon DE Collection/CO 1/24/11 $164 DOFD 4/12 I thought that this was paid but I'm going to contact Verizon and pay it.
NCO Fin Derog 7/11/12 $385 Bal This is a debt that I owe
Amer Col Ent Med/Derog 1/9/12 $1012 Bal DOFD 5/11 This is from the surgery
Bay Area Rec Med/Derog 12/2/11 $129 Bal ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
ACB Receivable Med/Derog 10/10/11 $85 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
CRD PRT Assoc Ind/Derog 8/29/08 $675 Bal This is from Comcast and I believe it's charges for cable boxes that were turned in when I cancelled Comcast
Consumer Adj Ind/Derog 12/13/07 $71 Bal This I have no idea what it is
Enhanced Rev Ind/Derog 2/10 $521 Bal This is for Dish Network but was a breach of contract on their part so I'm gonna fight it.
No liens or judgements
Experian
Verizon DE Collection/CO 1/24/11 $164 I thought that this was paid but I'm going to contact Verizon and pay it.
Ancilary SRV Medical/CO 4/17/06 $2000 This should fall off next month so I'm not worried about it
NavyFCU Secured/CO 5/23/2003 $0 Bal $12,000 High Limit This shouldn't even be on here I know it's past 7yrs
Amer Honda Fin Installment/Current 5/19/2003 $0 Bal $1000 High Limit This was paid right and never was late
NavyFCU Auto Loan/Current 10/17/2001 $0 Bal $8173 High Bal This was paid right and never late
NavyFCU Unsecured Loan/Current 10/1/97 $0 Bal $3536 High Bal This was paid right and never late
Baddies
NCO Fin Derog 7/11/12 $385 Bal This is a debt that I owe
NCO Fin Derog 5/26/12 $209 Bal This is a debt that I owe
Cap Credit Med/Derog 5/17/2012 $2480 Bal This is part of the med bills, surgery was in 2011.
Amer Col Ent Med/Derog 1/9/12 $1012 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
Bay Area Rec Med/Derog 12/2/11 $129 Bal ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
LANC Coll Med/Derog 10/13/11 $362 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
ACB Receivable Med/Derog 10/10/11 $85 Bal '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
AARGON Agenct Ind/Derog 7/13/11 $326 Bal I have no idea what this is
CRD PRT Assoc Ind/Derog 8/29/08 $675 Bal This is from Comcast and I believe it's charges for cable boxes that were turned in when I cancelled Comcast
Consumer Adj Ind/Derog 12/13/07 $71 Bal This I have no idea what it is
No liens or judgements
Starting Score: 625 TU MyFico 604EQ My Fico 596 EX USAA FAKO Feb 2013
This is awesome that your putting yourself out there like that. I really appreciate this. I am on a journey of my own right now... its going to be a HUGE struggle. My current score is 559 FICO, and i have a lot of medical bills on my CR and total around 35k in debt. So i have a question for you... what do you plan on doing with the debts that are going to fall off (or have already)...??
Here's what I've done in the last couple weeks and what my plan is.
I app'd for a GE Appliance Account and didn't get it. Here's why. The score reported was 485 pulled from Transunion but myFico says it's 625. Here are the reasons Serious Delq & public record or collection filed, too few accounts rated current, no recent (non-mortgage) acct balance info, time since legal item filed or collection item reported.
I app'd for a Walmart card and didn't get it, waiting on letter.
I app'd for a Wells Fargo auto loan and didn't get it, waiting on letter. I have a couple paid off cars I could've used for collateral but they didn't want any, including a 2006 GMC Yukon Denali XL that has a book value over $15k and I just wanted $6500 to rebuild my credit.
I app'd for a USAA Auto loan, waiting on letter.
I got a Wells Fargo Secured Credit Card, $300 limit.
I'm going to get a $2500 USAA Secured Loan and a USAA Secured Amex and USAA Secured Mastercard, both with $750 limits.
What else should I be doing??
@Tink1o5 wrote:This is awesome that your putting yourself out there like that. I really appreciate this. I am on a journey of my own right now... its going to be a HUGE struggle. My current score is 559 FICO, and i have a lot of medical bills on my CR and total around 35k in debt. So i have a question for you... what do you plan on doing with the debts that are going to fall off (or have already).
I honestly was feeling hopeless until I found this site and read the sucess stories. That's why I decided to put myself out here the way I have. I'd love to pay it forward by giving others hope too.
As for my debts that are going to fall off I'm just going to let it happen and not give them a penny. The system is messed up because if you do the right thing and pay something that's about to fall off or has fallen off then it hurts you again, it's really not fair.
So, are you worried about that affecting you buying a house or no. Have a few REALLY big debts like 13k debts, that are going to fall off in 2 or 3 years, and someone told me to still pay them because when i try to get a morgage in the next 4-5 years they might pull my CREDIT FILE an that will show debts that have fallin off an arnt paid, and they will not give me the loan