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09-07-2012 03:51 PM
Hello my name is Cindy and I have an abundance of credit issues that I'm desperately working to fix. I've been a victim of credit fraud, not to mention that I was laid off for almost 3 years and was behind on every bill I had. Now I'm having to start from scratch and I need to fix my credit in a hurry if I'm going to secure a home and business loan.
I've gotten rid of a lot of crap on my reports and paid down debt. I'm still paying it down. The biggest thing is I have two judgements from my old landlord. The problem is I paid my landlord before we went to court. I didn't even know I had these blemishes on my report. When I tried to contact him to have them removed I found out that the apartment complex no longer existed. It had been foreclosed on and the owner said he had no records seeing how he lost the business four years ago. Now I'm stuck trying to convince a judge to vacate the erroneous judgments so I don't have to pay them a second time.
At any rate, I am making some progress and I'm always open to suggestions if anyone has any.
09-08-2012 10:25 AM
Newbie here.... Noticed the challenge and decided to plant the flag.
History: Lost my job in Oct'06 and used severance to start a small business, which is still running. At the time, my wife and I were a million dollars in debt that included a $775K mortgage, toys, autos and a few credit cards. After four years of making just the house payment, we decided that enough was enough and we were throwing good money towards a lost cause. We subsequently filed for bankruptcy in 2010 and discharged in July that same year. We have been renting a house for the last two years and other than an inquiry to change credit card processors, I haven't pursued any credit until recently.
Current: Three months ago I applied to Capital one and was approved for $1000 (unsecured) line of credit. My current scores are Eq 675, Ex 662 and TU 632. I'm looking for a 2nd card and don't even care if it's secured, however, I'm reluctant to have an inquiry and then be declined
Future: As a Navy veteran, my objective here is to use the VA loan and purchase a new home early next year so we've established a goal of +700 by March of 2013. My wife's scores are quite a bit lower as she had a few things left in her name post BK. Mortage is complicated as I need her income and we need my VA. I've assembled a group of professionals into a little team including a real estate agent with whom we've purchased homes from in the past. A lender that was recommended by the agent and a credit repair company that was recommended by the lender.
We have one kid that just finished college and 2nd one two years away. With the roost nearly empty, w'e'll be looking for a modest home that we can afford based on either of our incomes. We could really care less about credit cards and other luxuries at this point unless they help us improve our scores.
So there it is....
09-08-2012 10:30 AM
09-08-2012 06:42 PM
Well I went to Walmart.com and filled out the requested information then sat there and looked at the submit button for several minutes realizing my score might drop a little from an inquiry. Then "Click" and it was done...... after several seconds, it indicated I had been approved for a CL of $600.
09-10-2012 12:17 PM
I am in the same range as you started (591) How were you able to move up your score so much, so fast? I haven't seen my credit score change over the last few months even after paying things off and opening a secured card.
Any advice would be appreciated!
09-12-2012 08:50 AM - edited 09-12-2012 09:12 AM
I have 2 medical bills that went into collections(PIF currently) that I am trying to find a solution to get those off my CR - Any help is appreciated
I have 2 Macy's cards that wont be coming off for at least 5 years One was charged off the other I closed but was 30 days late 4 times but is reporting OK currently.
My wife's credit is 750+ and she added me to her Chase Freedom. We use about 30% of the limit and pay it off (she uses it for everything now). I am also an Authorized User on her new Slate card both her freedom and slate have $3,300 limits. We got this to pay off a Dell bill which seems to be a headache for us. Different story
I was able to open a Chase Slate and a Cap1 secured credit card in the last two weeks (both of these have a $200 CL) but couldn't get a Walmart Card. I received an email from Walmart stating my CS was 417 when TU says its 670. I have not received a paper copy and plan on calling them once I get it to recon.
I plan on gardening for the next six months and my plan is to flip flop between my slate and cap 1 cards (so that way I can PIF every Friday) and use her freedom when I need to purchase PC parts for clients.
I hope in the next 6 months while PayingIF my credit will jump another 20-30 points. So it will only be Macy's and the med bills in the red. I also have a 72 month car loan @ $400 that I have never missed. Baby steps but steps non the less.
By 1/1/2013 I would like all of the scores jump 20+ points. I make much more now then I did 2 years ago (very thankful for that) so my personal financial situation is a lot better. I am hoping the medical bills can some how be removed but I am not sure who to contact. I have contacted the debt collector but they said they cannot do it.
09-12-2012 09:07 PM
Hi! I'm new here. I'm still trying to figure out how to navigate in here. This forum is a wealth off info! So my goalsfare to bump mine and my spouses's score to at least 640 to purchase a new home. His scores are around my range as well. Is it realistic to get my scores increased to 640 in 6-7 months or am I kidding myself? We went through financial hardship in 2007 when my husband wasn't working and went back to grad school. We had two boys between then and now. I also have a teen from a prev marriage. We make pretty good money and were trying to clean up our scores.
Is this where I should list all my accounts? Any help would be appreciated. Thanks so much!
09-15-2012 11:31 AM
I have actively been trying to get my finances under control since November 2011. In November I was a single mom with a one year old and I realized I was unable to pay all of my bills. I had over $17k in credit card debt and $21k in student loan debt. I looked at my credit card statement and saw that by paying the minimum (and I couldn't even really afford that) it would take me 23 years to pay it off. GASP!! All of my credit cards were maxed out.
I got myself on a debt management plan and have lowered my weighted average interest rate from around 22% to about 4%. I have been able to lower my monthly payments, thus freeing up some extra money every month and have made real progress towards paying down my credit cards. I am now at about 78% utilization.
I have been tracking my spending and sticking to a budget. I now have a (small) emergency fund and I have found extra money to put towards my debt. I was able to buy a new car in February 2012. My car loan is set to be paid in February 2017 and my credit cards should be paid off by March 2016 at the minimum payments. However, since I now stick to a better budget I should be able to pay the car and credit cards off by December 2015. Then I will work on the $21k in student loans.
My FICO score was a 577 in November 2011 and in August 2012 it was 644. I hope to get over 650 by the end of the year and then go up from there. My ultimate goal is to be over 750.
09-16-2012 09:56 PM
First post! New to the boards, but I've been using myFICO for awhile now. Good luck to everyone!