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September Check-In Thread 2017

Moderator

September Check-In Thread 2017

I know you are all hard at work with your credit goals.  Have you progressed as far as you hoped?  Were there any unforseen expenses that cropped up and may have thrown you off schedule?

 

As a reminder, participation in these monthly checkins is optional, but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. This is a no-judge zone; feel free to say what's keeping you up at night or give yourself a kudo for having it all together.

 

Did you hit any potholes or speedbumps? Achieve some milestones, either small or mighty? Change your goals or add new ones?

 

Let us know how you're doing! 

Message 2 of 17
16 REPLIES
New Member

Re: Take the myFICO Fitness Challenge 2017!

HELLO myFico! ;-) 
I would like to introduce myself by telling my story. Typical story of irresposible tenage kid receiving CC offers after 18th birthday. I was and still consider myself as irresposible with my finances/money. I was in college and didn't have a job, I had 2 credits cards, 1 with Well Fargo and other with  CapOne. Long story short, credit limit reached one day and I didn't have any income to pay back. This eventually ended in paying those cards back in full through collections within 2 years. years past and I eventually got it up again to 700s. I was happy and decided to get myself a used car for my hard work (antoher stupid mistake). I was graduating from a prestigous University and figured I would be able to maintain the expenses. (note: I was 60k in debt student from student loans. 2nd note: 2017--I still have 60k+ debt in student loans).  

 

In 2013 I voluntarily gave back the car to the bank and in turn I owed them $8000. This along with some other collections hurt my score bad. Last year I dediced to give it another try at building my credit, I hired a credit repair company to help me and my score did improve, however they fell 80 points shy of the target score. i was really dissapointed but I figured that i need to take ownership for my bad decisions. 

I am here to learn everything I can about getting my credit score in shape, as well as being financially healthy. I am open to any resources/books/seminars to imrpove change my financial behavior.

Warm Regards   

Starting Score: 594
Current Score: 534
Goal Score: 744


Take the myFICO Fitness Challenge
Message 1 of 17
New Visitor

Re: September Check-In Thread 2017

Hello, 

 

I'm new to the forum and have already learned so much here.   I no longer feel so alone in the challenge of improving my credit score.  My goal is to purchase a new home next year  so i am diligently working to improve. Right now I have 4 collection items.  Two are a year old and two are about 3 years old.  I decided that i'm going to have to just  pay them off but after reading one blog about Ad Astra (speedychash - owe 6K), there is a chance they may PFD.  Crossing my fingers.  On a positive note, my score has increase by 20 pts just buy paying down my credit card balances.   I have 4 credit cards with zero blances now and I plan to pay them off in full if I use them. I'm also enrolled with Lexington Law, I'm thinking about cancelling.  I have not seen any real help from them.  . 

Starting Score 8/10/2017: EX607, TU590, EQ589
Current Score 9/8/2017: EX627, TU594, EQ602
Goal Score: 750
Message 3 of 17
Valued Contributor

Re: September Check-In Thread 2017

Revisiting my August 2017 goals. Not doing too bad. Smiley Happy

 

1). To garden the cards I got last year post-BK, letting those tradelines age and grow. without opening any new tradelines. Just left the garden to try for the new Navy Amex. Denied. Tried for the Marvel MC too since I was out. Still haven't heard. All reports are now on ice, thanks to Equifax. Ought to help with gardening, though.

2). To continue to manage utilization and reported balances. Utilization is at 21% right now, and I want to bring that back down to <10%. Still about the same.

3). To watch my inquiries drop from EQ 6, TU 5, EX 8 down to EQ 3, TU4, EX 4 by June. I've added as many or more inquiries than fell off. Overall, they now sit at EQ 5, TU 8, EX 11, all within the last two years. All inquiries remaining are now post-BK.

4). To pay an extra $100/month on my highest balance and highest interest student loan, which is upside down due to interest accruing while in deferment (I know I should have paid it as I went, but the BK and events leading up to didn't allow for that). I still haven't done this, but the loan is now only $300 upside down. I really want to route that extra $100 now to get it down! I split the minimum payment into two payments per month. On the last two, I've applied $50 extra to that larger balance. Shouldn't be a problem to continue! 

5). To continue saving about 10% of my gross income each month.Currently saving 12.7% of my income every month via direct deposit into a higher yield savings account. Yup, still doin' it!

 

Would still like to see one or more of my scores hit 700 by the end of the year at least. We'll see if pure gardening some gardening sometimes  and paying down utilization and getting that loan above water will do the trick! 

 

Smiley Happy

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 4 of 17
Valued Contributor

Re: Take the myFICO Fitness Challenge 2017!


MunnyMakinMitchLA wrote:

HELLO myFico! ;-) 
I would like to introduce myself by telling my story. Typical story of irresposible tenage kid receiving CC offers after 18th birthday. I was and still consider myself as irresposible with my finances/money. I was in college and didn't have a job, I had 2 credits cards, 1 with Well Fargo and other with  CapOne. Long story short, credit limit reached one day and I didn't have any income to pay back. This eventually ended in paying those cards back in full through collections within 2 years. years past and I eventually got it up again to 700s. I was happy and decided to get myself a used car for my hard work (antoher stupid mistake). I was graduating from a prestigous University and figured I would be able to maintain the expenses. (note: I was 60k in debt student from student loans. 2nd note: 2017--I still have 60k+ debt in student loans).  

 

In 2013 I voluntarily gave back the car to the bank and in turn I owed them $8000. This along with some other collections hurt my score bad. Last year I dediced to give it another try at building my credit, I hired a credit repair company to help me and my score did improve, however they fell 80 points shy of the target score. i was really dissapointed but I figured that i need to take ownership for my bad decisions. 

I am here to learn everything I can about getting my credit score in shape, as well as being financially healthy. I am open to any resources/books/seminars to imrpove change my financial behavior.

Warm Regards   


Welcome, MoneyMakinMitch! You've come to the right place. There are a lot of amazing people on here that are super knowledgeable and helpful! Smiley Happy

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 5 of 17
Established Contributor

Re: September Check-In Thread 2017


ECast wrote:

Hello, 

 

I'm new to the forum and have already learned so much here.   I no longer feel so alone in the challenge of improving my credit score.  My goal is to purchase a new home next year  so i am diligently working to improve. Right now I have 4 collection items.  Two are a year old and two are about 3 years old.  I decided that i'm going to have to just  pay them off but after reading one blog about Ad Astra (speedychash - owe 6K), there is a chance they may PFD.  Crossing my fingers.  On a positive note, my score has increase by 20 pts just buy paying down my credit card balances.   I have 4 credit cards with zero blances now and I plan to pay them off in full if I use them. I'm also enrolled with Lexington Law, I'm thinking about cancelling.  I have not seen any real help from them.  . 


ECast, welcome to forum! Be sure to get the agreement to delete if paid letter in writing before you actually pay.  Otherwise, it can be very difficult to get it after the fact.  Awesome job in getting your cc's paid down to zero.  It seems your plan going forward is solid.  Good luck! Smiley Happy

gardening until: 02/02/2018....updated on: 12/01/2017....rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 739, TU 04: 774, EX 02: 810 (Fico 8): EQ: 775, TU: 790, EX: 810
Goal Score (Mortgage): EQ 05: 760, TU 04: 774, EX 02: 810 (Fico 8): EQ: 800, TU: 800, EX: 810
Take the myFICO Fitness Challenge
Message 6 of 17
Established Contributor

Re: September Check-In Thread 2017


Bella007 wrote:

Revisiting my August 2017 goals. Not doing too bad. Smiley Happy

 

1). To garden the cards I got last year post-BK, letting those tradelines age and grow. without opening any new tradelines. Just left the garden to try for the new Navy Amex. Denied. Tried for the Marvel MC too since I was out. Still haven't heard. All reports are now on ice, thanks to Equifax. Ought to help with gardening, though.

2). To continue to manage utilization and reported balances. Utilization is at 21% right now, and I want to bring that back down to <10%. Still about the same.

3). To watch my inquiries drop from EQ 6, TU 5, EX 8 down to EQ 3, TU4, EX 4 by June. I've added as many or more inquiries than fell off. Overall, they now sit at EQ 5, TU 8, EX 11, all within the last two years. All inquiries remaining are now post-BK.

4). To pay an extra $100/month on my highest balance and highest interest student loan, which is upside down due to interest accruing while in deferment (I know I should have paid it as I went, but the BK and events leading up to didn't allow for that). I still haven't done this, but the loan is now only $300 upside down. I really want to route that extra $100 now to get it down! I split the minimum payment into two payments per month. On the last two, I've applied $50 extra to that larger balance. Shouldn't be a problem to continue! 

5). To continue saving about 10% of my gross income each month.Currently saving 12.7% of my income every month via direct deposit into a higher yield savings account. Yup, still doin' it!

 

Would still like to see one or more of my scores hit 700 by the end of the year at least. We'll see if pure gardening some gardening sometimes  and paying down utilization and getting that loan above water will do the trick! 

 

Smiley Happy


Bella007, good to see you still going strong!  I envy your saving progress. Smiley Happy

gardening until: 02/02/2018....updated on: 12/01/2017....rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 739, TU 04: 774, EX 02: 810 (Fico 8): EQ: 775, TU: 790, EX: 810
Goal Score (Mortgage): EQ 05: 760, TU 04: 774, EX 02: 810 (Fico 8): EQ: 800, TU: 800, EX: 810
Take the myFICO Fitness Challenge
Message 7 of 17
Established Contributor

Re: September Check-In Thread 2017

Hello, myFico Challengers!

 

I've been gone for a while - long story short - busy at work, then two minor surgeries (full recovery), then back busy at work.

Not that you've missed much. My scores have been pretty much uneventful:

 

Fico 8 score changes:
EQ - unchanged, holding at 760
TU - 1 point increase from 769 to 770
EX - 8 point increase from 801 to 809

 

Mortgage scores have been just as boring (lol!):
EQ - unchanged, holding at 727
TU - 9 point increase from 745 to 754
EX - 7 point decrease from 796 to 790 to 789

 

2017 goals:

  • Reach Fico 8 700+ score across the board. DONE!
  • Get Fico 8 740 or more across the board. DONE!
  • Get Fico 8 760 across the board. DONE!
  • Reach my first EVER Fico 8 800 score! DONE!
  • Get middle mortgage score to atleast 740. DONE!
  • Try to get the three 30-day lates off of my CRs via GW letter. Skipped.  Too busy/lazy to put in the effort. Will let them fall off naturally from the CRs (Feb/Mar 2018).
  • Save atleast 5% down for mortgage. 0% saved. Smiley Sad What savings I had was redirected to the medical deductibles, so starting over this month.
  • Try to get the PIF State Tax lien removed from EQ/TU reports. Tried last month without success despite the new rule. Will file a complaint with the CFPB.
  • Get all mortgage scores to atleast 760. I expect a small score boost when my newest ccs turn 1 yr (Nov/Dec).  Doubt it will be enough.
  • Get Fico 8 800 across the board. Possible if tax lien disappears on EQ/TU - otherwise, not likely.
  • STAY in the garden until close on mortgage. So far, no new apps or inquiries - still in garden. Smiley Happy

Until next time...

Life happens. Adjust accordingly. Smiley Wink

gardening until: 02/02/2018....updated on: 12/01/2017....rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 739, TU 04: 774, EX 02: 810 (Fico 8): EQ: 775, TU: 790, EX: 810
Goal Score (Mortgage): EQ 05: 760, TU 04: 774, EX 02: 810 (Fico 8): EQ: 800, TU: 800, EX: 810
Take the myFICO Fitness Challenge
Message 8 of 17
Highlighted
Valued Contributor

Re: September Check-In Thread 2017


LOTR wrote:

Bella007 wrote:

Revisiting my August 2017 goals. Not doing too bad. Smiley Happy

 

1). To garden the cards I got last year post-BK, letting those tradelines age and grow. without opening any new tradelines. Just left the garden to try for the new Navy Amex. Denied. Tried for the Marvel MC too since I was out. Still haven't heard. All reports are now on ice, thanks to Equifax. Ought to help with gardening, though.

2). To continue to manage utilization and reported balances. Utilization is at 21% right now, and I want to bring that back down to <10%. Still about the same.

3). To watch my inquiries drop from EQ 6, TU 5, EX 8 down to EQ 3, TU4, EX 4 by June. I've added as many or more inquiries than fell off. Overall, they now sit at EQ 5, TU 8, EX 11, all within the last two years. All inquiries remaining are now post-BK.

4). To pay an extra $100/month on my highest balance and highest interest student loan, which is upside down due to interest accruing while in deferment (I know I should have paid it as I went, but the BK and events leading up to didn't allow for that). I still haven't done this, but the loan is now only $300 upside down. I really want to route that extra $100 now to get it down! I split the minimum payment into two payments per month. On the last two, I've applied $50 extra to that larger balance. Shouldn't be a problem to continue! 

5). To continue saving about 10% of my gross income each month.Currently saving 12.7% of my income every month via direct deposit into a higher yield savings account. Yup, still doin' it!

 

Would still like to see one or more of my scores hit 700 by the end of the year at least. We'll see if pure gardening some gardening sometimes  and paying down utilization and getting that loan above water will do the trick! 

 

Smiley Happy


Bella007, good to see you still going strong!  I envy your saving progress. Smiley Happy


Thanks, LOTR! And I envy your scores. The grass is always greener. Smiley Happy

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 9 of 17
Contributor

Re: September Check-In Thread 2017

I am doing okay overall.  The Bureaus are so back and forth on scoring that it is keeping me back from that upper level.  Credit is very stressful, I guess that is why I never had a credit card and paid cash.  I am trying to figure out how to advance those other scores along with my FICO 8.  My 8 is sitting pretty good in the fair range.  Oh, I finally was able to close First Premier and Matrix which I am so so so so happy about.  I will be back in some months with update.

Message 10 of 17