@Anonymous wrote:
Hi there. Sorry in advance for the long post. I've been lurking for a while and recently have really been obsessed with improving my credit. Pretty late in the game as I'm 29. But hoping to purchase our first home in two years (my goal). Current fako scores: TU 591/ EQ 573
-10 credit cards (all store cards excluding barclay) 96% utilization total (I know it's ugly, but down from 140+%). I can't afford to pay anything but minimum payments until the beginning of the year when I can really start digging at my debt.
-Lates
36 (30 day)
11 (60 day)
4 (90 day)
All not due to go positive until 2021. I had a rough year last year and could barely afford to put food on the table. My son was in the NICU and honestly paying bills on time was the last thing on my mind. Was put into payment plans. But little did I know I was still being reported late every month. I have 13 Lates for my car payment. The rest of my Lates are confined to 3 credit cards and 3 student loans. My other 7 credit cards have perfect payment history. I've tried to GW the Lates, will continue to try after I continue to pay on time every month. And maybe set up automatic payments to show good faith.
Have not been late at all this year.
-one charge off from last year (trying to GW)
-one paid judgment from 2009 due to fall of October of 2016. TU deleted early, but experian and equifax won't budge.
-any advice? Or am I just screwed. I realize only time will make things better if I am unable to get things deleted. I have made an oath to myself to not apply for anything and to not use my credit cards. My problem was spending. I've dealt with depression most of my adulthood and unfortunately coped with spending. And now at the age of 29 I have nothing to show for it. I so much want to buy a home and have someplace my children to grow up in. My husband has two credit cards, no baddies. His car is paid off. We're just working on getting his utilization down to 10-15% and garden for a while. Like I said my top goal is a house and to be able to trade in my vehicle.
Welcome to the myFico forums!
I dont think making auto payments make a difference to the creditor, just that you make the payment on time and for at least the minimum due.
I agree, your UTI is killing your scores. If you can calculate each CC for the UTI - if you can make the minimum payment and anything left - try to reduce the highest UTI ratio for each CC so that all of them are below 80% and then 50 and then 30 and finally less than 10%. You need to monitor each CC for its individual UTI as well as all of them combined.
You are dealing very well if you got TU to delete an entire year early! On one occasion, TU deleted 6 months early but would not even let me finish my sentence when I asked for one that was 7 months early. EX often does 3 months early and EQ is not very EE friendly. One CSR from EQ actually suggested that I could call in one week early and they would probably do an EE then.
I really suggest just making ontime payments adn trying the GW approach for now.
Also, have you considered using NACA or USDA for help with a mortgage? They have lots of info in the mortgage forum. They are not in all areas, but if they are, many have been helped. Naca takes a few months to complete but if you are willing to do the work, the payoff is good.
HTH and GL
