04-28-2015 06:54 PM
Thank you guys!!!! This forum has given me hope in this big spiralling credit score of doom.
I originally started following my credit history about a year ago ( Im 28 and yes I know thats horrible.... my idiotocy is not lost on me) and my score was 410 TU and 400 EQ .... I had 9 accounts in collects ( All paid off now ) and 15 accts , showing from the DEPT ED reporting for my SL all went to default status... Having a degree will not gaurntee a job, so I took me a few years to be in a position and find a different industry to better my financial standing and not be on the pay check to pay check grind.
After paying off my debts in collections, I jumped my credit score up to 578 TU and 525 EQ ! A big personal victory but far off my goal of getting a home for my fiance and my self. I no longer have anything in collections as all and my debt to income ratio is at a awesome 0% I did get a secured credit card and have been using it diligently paying off my balance in full every month. having never missed a payment.
But still my credit score although much better than it was, still fell short of the 620 minimal goal. and ive been stressing beyond my own mental limits how much completing this program will impact my score , if at all ( as I am still very new to fine workings of credit ratings) ive poured through the net looking for advice and by far this forum has eased a long standing pain to the point were i felt complled to make a account just to say thank you!!!!
I just finished my last payment on the Rehabilitation program on 4/17/15! with paying the last month off early. So now I am in the dreded wait and watch game for a increase I need. But thanks again to people in this forum I feel I have a good understanding of the process to follow in the months after my complettion of the program and it just may be the last prop I need to get out little home in the country and take out piece of the american dream . Thanks for the Hope I will keep you updated on the progress of our battle
Start - TU 410 EQ 400 Current TU 578 EQ 525
10-26-2015 09:13 AM
Hey! I completed the rehab program about 9 months ago and my credit score went up about 90 points! The crazy thing is, about 2 weeks ago, all the derogatory late payments from before the rehab program came back?? For some reason Fedloan (the servicing company I was with before doing the rehab program) reported 10, 120 day or later payments again. I'm currently in good standing with Navient (my new loan servicer) and haven't even been late once.
I'm freaking out because I went from a 708 to a 640 overnight. What do I do? Is this supposed to happen?
11-16-2015 03:27 PM
Just made my 9th payment. The loans are still showing up on the credit report but the total balance is going down on them. I've seen a 25 point increase over the past few months. I should have them bought off by another party this month and hopefully everyone will be in good standing then and I'll see another 50 or 70 point jump. I have 3 Direct loans all around 2000. They are the only 3 marks on my otherwise unblemished credit report.