Hi, everyone. I've been lurking here since March, reading information about how to rebuild credit. I've just today signed up for monitoring and posting access to the MyFICo community. First, THANK YOU ALL for sharing your inspiring stories and rebuilding successes.
Second, a bit about me: currently a stay-at-home wife in my early 50's, empty nest. Current husband (my 2nd) is a full-time IT professional and has good income. I've been credit challenged all my adult life, partly because I seem to be a late bloomer in understanding how credit actually works, and also because my first marriage was to, shall we say, a "ne'er do well." (UGH) Even though I was doing financially ok back then (executive assistant in the consulting engineering field), I was supporting two people in my first marriage on a salary that was comfortable only for one person, and my first husband had lots of medical bills, which just kept on piling up. I've been biding my time to have those collections drop off so I can rebuild, and that time is now here! I'm so excited!
I have been job hunting on and off over the past five years, since I moved to another state (I met my 2nd husband in my new state). I've been ignored for many jobs for which I was unquestionably well qualified. I began to wonder if my low credit score had anything to do with it. I started looking at rebuilding my credit back in March of this year. My CapOne FAKO at the time was 566.
Length of credit history is in my favor. I have history reporting back to 1993; I was an authorized user for a number of years on my elderly mom's USAA MC. She had a high CL and always paid scrupulously. She passed away in 2013, but this card still reports on my CR as PIF, "account relationship terminated."
I noticed on my CRs that there was duplicate third-party reporting on one of the same delinquent accounts. I disputed the duplicate, which has now been removed. It was gratifying to see my FAKO jump 17 points just by that one action. I also PIF the OC recently and ERC has stopped reporting as of 6/1. I'll post about that separately, as the info may be of help to others.
Another issue is that my credit file is thin right now. In March, I had 9 total entries, 4 of which were collections.
I have one collection that, from reading here, is going to be a tough one. I'll also post about it separately, as I would value advice about it.
I have one medical collection (my own, not the 1st husband's) that is due to drop off this month. It only appears on my TU, and I have contacted them to request early exclusion.
I have an old Cap One CO (opened 2006, closed 2009) that is due to drop off my reports in May 2016. Because it is way past the SOL, I plan to just bide my time till it drops off. Will request early exclusion later this year, and next year, with each CB as I read here.
I have a current auto loan with Navy Federal, 60 months, nearly paid off--but four lates (30 days). I sent a GW letter asking forgiveness for the late pays, but not very hopeful. From what I've read here, the reporting laws sort of "tie their hands" on that one.
I have a Navient/SallieMae education installment loan, $1800 high in 2013, paying as agreed, never late.
I've had a CapOne QuicksilverOne since early 2012, no lates, but never paid much more than the minimum till recently. I PIF last month and went on a little app spree. I'll post about that separately.
Again, my deep thanks and gratitude for the information here. Looking forward to learning more and maybe even helping others! Maybe I will be 'that good" eventually, too. :-)
Fingers crossed that the info I tried to put in my sig shows up. I've had some big score jumps in a short amount of time, thanks to what I've learned here. YOU GUYS ROCK--myfico.com and those who post here. :-)
