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Hello and Thank you! (default, rehab, and score increases)

Valued Member

Hello and Thank you! (default, rehab, and score increases)

Just want to say Hello and Thank you. Ive been lurking on the forums for a few months now, while working on my credit report, student loan default/rehab and have read a LOT of great advice on here that has helped me get to where I am currently. Ive posted the changes in my scores in my signature line, most of which was due to completing rehab and the score changes that have come with it. I completed rehab in June, Navient picked it up July 1, 2017, and they are currently reporting with original loan date, "pays as agreed" and no payment history. Fed Loan, who I was with when I defaulted, will not remove anything as of yet, though I am still working on it, so I have several "180 days late" that I am trying to get removed.

 

I was approved for an auto loan through Santander USA in April 2017, at a horrible interest rate of 20.7% ( not complaining, it was my own fault my credit was so bad), Im just glad they were able to help me. With my credit score changes however, I was able to refinance on July 27 2017 at a reasonable 5.7%. I also got 2 secured cards, one with Capitol One and one with Wells Fargo, both in May. Yesterday I was able to add an unsecured card with Capitol One Quicksilver with a starting CL of $300. Not a lot, but have to start somewhere, right?

 

Its a journey, but keep working on it and keep moving forward, you will get where you want to be!


06/01/17 TU 552, EQ 510, EX 514
08/06/17 TU 649, EQ 614, EX 641
09/28/17 TU 670, EQ 615, EX 640
GOAL 700+ for all 3B
Message 1 of 3
2 REPLIES
New Member

Re: Hello and Thank you! (default, rehab, and score increases)

Im glad for you positive adventure. I am alos in the process of rebuilding great credit and dealing with student loans.

 

One question tho, How were you able to refinance your auto so soon? 

Message 2 of 3
Valued Member

Re: Hello and Thank you! (default, rehab, and score increases)

Well, once my default was removed, my scores made a nice jump upwards. Also, I changed my banking from Wells Fargo, to a local credit union. The only other thing, was I was paying more than the payment was when it was with Santander, so I was actually only "upside down" in my loan by about $500. SO I would say all of the above reasons? Im really not totally sure, but I just went and talked to them, explained where I was when I started, where I was currently, and what my plans were. I opened my new accounts the next day, and 3 days later, I was refinanced.

 


06/01/17 TU 552, EQ 510, EX 514
08/06/17 TU 649, EQ 614, EX 641
09/28/17 TU 670, EQ 615, EX 640
GOAL 700+ for all 3B
Message 3 of 3