My Milestone - Don't EVER give up!

[nocreditmaster]

Trying to work the through the credit maze was a long and difficult process to say the least. And this site was my only friend at the time. When I started my journey about 6 years ago my credit score was 409. Yes, you read it right.  Today, they are 876,881,854.

That is a long story with numerous obstacles, divorce, etc., and a serious dedication to getting it right. While I never posted on this site due to my own embarrassment, I was (and still am) a faithful visitor. In the last 6 months I have reached the end, and now it’s time to just sit back and feel good about what I have accomplished.   Some day when I have time, I will write my story and shed some insight on how I did this. I feel somewhat obligated to this site, since these types of forums were nothing short of my only leaning post. Feeling like a second class citizen is no longer….

Today, I only have 3 active credit cards (Amex Optima Platinum, Simmons First Visa, and Iberia Bank Visa all with a 7.5% or less interest rate) and a mortgage.  Whatever you do, don’t give up! If I could do it you can!

NOTE: I am not an expert on this matter, but I would be happy share anything I’ve learned and what worked for me with anyone in this forum.  

The best to all of you…….

[CashOnDelivery]

No shame in your past score. Mine was a 475 3 years ago. Congrats, but where did you get your scores from?

[nocreditmaster]

My account through TU. I think it used to be called creditreport.com then TU bought it..

[Shogun]

Awesome work,  Congrats!!!!

Those must be "Vantage Scores".   And they are very nice scores!

[TimeToRecover]

Oh do tell your story.  I like reading success stories.  The are motivating.

[preacherk]

Tell your story it really gives some of hope

[CashOnDelivery]

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@TimeToRecover wrote:

Oh do tell your story.  I like reading success stories.  The are motivating.

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+1.

OP, please share your story. People on these forums would love to hear it...

[theoldnocreditmaster]

LAST EXIT BEFORE TOLL ROAD (story-part 1)

My nightmare with credit began years ago. I’m not going to get into all of the details has to how I got there, but I think it’s key that I summarize it for you what I LEARNED.

Basically, my wife (I know what you’re thinking, I will blame it all on her) and you’re only partly right. The credit issues were kept from me for a very long long time, until the bubble burst, just like the banks and housing markets have in recent years.  I had not a clue what was about to happen to me.

I had good jobs, one full time and one part time and made fairly good money (about $55,000 mid 90’s) annually. I worked them both for over twelve years. My wife did not work.

Prior to that when I was 18, I purchased a house lot for about $6,500.00 and got a loan to build a new home. (Before I was married). The note on the new construction for my house was reasonable and my house payment was a mere $680.00 a month when I moved in. I had a company car, my other vehicles were paid for and I had no other payments other than an occasional trip to Florida in the winter every three or four years. Life was good for the next 10 years. Well, so I thought.

That was until I came home and found we had no power. It was because the bill had not been paid. By the end of the evening, and talking to my wife by flashlight and in complete darkness, I discovered that my mortgage was over 180 days past due and the foreclosure proceedings were well under way.  Most people have fair warning when it comes to things like this. I had one day.  

I think the most devastating part of all of this was the house was only in my name. Boy was I wrong.

During this ten year span, my wife had amassed a huge collection of credit cards that I didn’t even know about and had been having an expensive affair for an unknown length of time.

It was finally discovered that she would use my name to get joint credit cards. When they arrived (two cards) she would she would cut up my original card and I would never get a bill. I assumed when I saw envelopes in her name, they were hers .  Never did I give it a second thought. She was good. Very good.

The reality of it is that I trusted other people (even my wife and mother of my children) with the one and only thing that was most important to me, my good name. The ONLY thing you’ll ever have in this life is you’re good name. I was just too stupid to realize it and take measures to protect it from the onset. Trusting anyone, other than me with my credit was no one’s fault but my own. Needless to say, I’m now divorced and will never let anyone have influence over it except me….                   .  

The first thing I learned in the crazy world of credit is my credit scores have no emotion. They can’t have an affair, and they can’t get mad at me because I work all the time.

The second thing I learned was, when I do pay attention to my scores, they pay attention to me.

The third thing I learned was that credit files are just like your children. They only pay attention to what you pay attention too.

Fourth, but most importantly, I learned that credit and love don’t mix. No one will pay attention to your credit files more than you, so keep everyone away from them.   

(More to come  - LAST EXIT BEFORE TOLL ROAD )

[blunderer]

Wow!

It sounds like you're turning things around for yourself in spite of the devastating revelation by your own wife.

Good things are ahead for you.  Be encouraged!

Thanks for sharing

[dpittsmd1985]

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@theoldnocreditmaster wrote:

LAST EXIT BEFORE TOLL ROAD (story-part 1)

My nightmare with credit began years ago. I’m not going to get into all of the details has to how I got there, but I think it’s key that I summarize it for you what I LEARNED.

Basically, my wife (I know what you’re thinking, I will blame it all on her) and you’re only partly right. The credit issues were kept from me for a very long long time, until the bubble burst, just like the banks and housing markets have in recent years.  I had not a clue what was about to happen to me.

I had good jobs, one full time and one part time and made fairly good money (about $55,000 mid 90’s) annually. I worked them both for over twelve years. My wife did not work.

Prior to that when I was 18, I purchased a house lot for about $6,500.00 and got a loan to build a new home. (Before I was married). The note on the new construction for my house was reasonable and my house payment was a mere $680.00 a month when I moved in. I had a company car, my other vehicles were paid for and I had no other payments other than an occasional trip to Florida in the winter every three or four years. Life was good for the next 10 years. Well, so I thought.

That was until I came home and found we had no power. It was because the bill had not been paid. By the end of the evening, and talking to my wife by flashlight and in complete darkness, I discovered that my mortgage was over 180 days past due and the foreclosure proceedings were well under way.  Most people have fair warning when it comes to things like this. I had one day.  

I think the most devastating part of all of this was the house was only in my name. Boy was I wrong.

During this ten year span, my wife had amassed a huge collection of credit cards that I didn’t even know about and had been having an expensive affair for an unknown length of time.

It was finally discovered that she would use my name to get joint credit cards. When they arrived (two cards) she would she would cut up my original card and I would never get a bill. I assumed when I saw envelopes in her name, they were hers .  Never did I give it a second thought. She was good. Very good.

The reality of it is that I trusted other people (even my wife and mother of my children) with the one and only thing that was most important to me, my good name. The ONLY thing you’ll ever have in this life is you’re good name. I was just too stupid to realize it and take measures to protect it from the onset. Trusting anyone, other than me with my credit was no one’s fault but my own. Needless to say, I’m now divorced and will never let anyone have influence over it except me….                   .  

The first thing I learned in the crazy world of credit is my credit scores have no emotion. They can’t have an affair, and they can’t get mad at me because I work all the time.

The second thing I learned was, when I do pay attention to my scores, they pay attention to me.

The third thing I learned was that credit files are just like your children. They only pay attention to what you pay attention too.

Fourth, but most importantly, I learned that credit and love don’t mix. No one will pay attention to your credit files more than you, so keep everyone away from them.   

(More to come  - LAST EXIT BEFORE TOLL ROAD )

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I'm sitting at the edge of my seat, waiting for Part II.....!!!!