Hello, I'm slowly climbing out of the abyss of bad credit. A messy divorce caused me to have to file Bankruptcy (Chapter 7) in 2003. It was discharged January 2004. I was unemployed for 19 out of the last 36 months (2 layoffs) so I have some late pays and charge offs. My goal is to get my scores up as high as possible. I've recently sent letters trying to negotiate PFDs so we'll see how that goes.
Starting Score: TU 521 EQ 572 EX 560
Hi Everyone,
I am starting over after a federal tax lien, medical problems and reduced income. I once had great credit (720 for my first house in 2001) and then life hit. I am older and now I just want to be able to buy large items without crossing my fingers. I just want to have confidence when purchasing again.
Hi al, this is all new to me and realize I have a long road to travel. Would appreciate any help thanks
Hi everyone. I am starting over again...most of the baddies have fallen off. Currently, I have the following:
- 2009/2010 Federal Tax Lien- Shows Paid Released - Recently found out about the Fesh Start Program- waiting for forms from IRS for withdrawal.
- Chapter 13 Filed Mar 2005- Only shows on Equifax
- Mailed Discharge Documents 2x because they kept verifying it as 'dismissed' which would keep on my file for 10 years instead of 7 years from date of filing. It was stupid but I filed the 13 to deal with a stubborn lender wouldn't assist with the sale of our home- ultimately it was sold 3 months later. - 2 minor collection accounts for less than $400 each that will both fall off in February. I almost wanted to dispute since there had been no activity since 2008 but I am afraid.
Now the good...
- 2 Closed Mortgages (one showing from 1998 last payment 2004) - paid/ no lates
- Chase Auto Loan opened in April 2012- paid no lates
- 2 installment accounts - student loans- paid no lates
- New account opened with JC Penney.
I successfully disputed Asset Acceptance that was killing my score, I just received their letter dated Sept 13 and confirmed with Experian that their $1904 debt has been deleted. I have not received confirmation from the other bureau but since I have Asset's letter I am optimistic! And I only decided to continue my fight with them after following the suggestions from a fellow member! 
I am hoping that once the tax liens are withdrawn my scores might look better- although I have heard since they are showing paid/released they might not be bringing my score down.
My biggest problem was the lack of revolving credit. So I went on an app spree over the long Labor Day Weekend- Chase and Barclays all said no- reason collection accounts and liens. JC Penney gave me a $400 line of credit. It's a start. I will be at the 800 across the board in less than 18 months! Maybe I'll try Discover or Amex Zync in a few months!
I'll keep you posted!
I am happy to say I finally saw an increase in my credit score today!! Woohoo
(via Walmart's free credit score service)
My score has jumped up 20 pts. since starting the challenge. I will soon check my other reports for updates/progress also but really happy to see some type of positive actiivity with my credit :-)
Starting Score: TU: 687 (MyFico, 4/15/12), TU: 659 (WalMart 8/6/12)
Long story short, I got super sick and went to the hospital and lost my job all at the same time. Five months later I had almost $10,000 in unpaid medical bills for a total of 16 collections. Here four months later I'm down to $2200 and only four collections. The plan is to have them paid off before the end of October and my score up in the 700's.
hi all,
i am new to this forum but am excited to join!!
so my husband and I had pretty good scores prior to 2008..they ranged from 690 to 720 at any given time. In 2008 I gave birth to my son, we already had 2 daughters and my husband got a pay cut. We had about $50K in credit card debit, plus student loans and car payments. At the time the money we had was just not enough so we had to stop paying the credit cards. It was a question of either putting food on the table, paying the cars, rent and girl's school or just paying credit cards. We chose to stop paying the credit cards. Definitely a difficult choice but we really had no choice or than doing bankruptcy and at that point we just didn't do it. So fast forward to 2010 when the credit card companies gave up on following us and many of them transferred the debt to agencies and some of them starting the threaten suing. We decided to take a 401K loan and between the loan and 2 years worth of tax refunds we were able settle on most of the debt. To date we only have about $12K left in outstanding debt and are working on paying it down. Out of all the debt only one actually put a judgement on my husband, the rest were settled at pretty manageable amounts. So fast forward to 2012 and our fico scores range from 520 to 570, must of the old debt shows as paid by settlement and all of our car loans and student loan debt was paid on time throughout all these years. In fact, after being without a credit card since 2008, capital one gave my husband and I both cards back in Nov 2011 that we have been paying off balances on every month. It is the only credit card we have and we will not make the mistake of getting so many cards again (together we had over 35 cards, many of them store cards - yes I know, gasp!!!). We have been paying cash on mostly everything at this point and I like it!!! The issue is that our oldest daughter is now in college and we were unable to cosign a loan for her which really brought home how important a healthy credit score means. We have another daughter going into college next year and our goal is to raise or scores so that we could possibly cosign for her. I have been reading alot on these forums about PFD. I am wondering if I will have any luck now going back to the companies that we have paid (and since have sent me a paid in full letter and updated our reports as settled and paid in full) and asking them for a PFD. Is there specific wording that should be used? Am I requesting this from the collection agencies that bought the debt or from the original creditors? Is there anything else I should be doing to help increase the scores? Unfortunately I have gone over our reports (all 3 agencies) and have not found any errors so at this point we are just trying to increase the scores we have. Any help would be greatly appreciated on this as we are really dedicating ourselves to correcting these issues.
Thanks and here's to having a healthy credit score!
J
up 10 more points! slowly but surely...
 | Your FICO® score has gone up to 560 on September 24, 2012 |
Starting Score 2012: 484 Starting Score 2013: 566 Starting Score 2014: 650
Hi all, so an update on my situation:
I reached my goal (the lower end of it) halfway through the year. I put a huge dent in my student loan and paid off CC (down to 12% util) as planned and got a major CLI that helped a lot.
At this time I have 1 INQ for the CLI and student loan is 50% paid off. The 1 30-day late on one of my CC since 2008 remains but doesn't seem to be affecting anything.
Based on what the FICO score simulator states, I should be up to 778-818 if I pay off the CC within the next 3 months.
Pretty happy about that
Starting late is better than not starting at all, right?
I've used myFico off and on for years but never the forums before so - first post
Let's see - I make a great salary yet I struggle to pay my bills and on-time has been more than difficult. I also have developed the very bad habit of overdrawing my checking account (and the fees are horrible - I know) just to try for on-time - but I feel as if I am in a viscous cycle. I pulled my credit report today and discovered a couple of collections that I am not familiar with. I have accounts I owe a couple thousand on that by all rights should be in collections but I do not see them on my report; and I do not see any reference to my overdrawn checking account; or another closed / overdrawn account at my bank. My spouse hides bills. My lone Visa is not only maxed but overlimit. I believe my credit to be worse than my report reflects.
With all that in mind; I am also scheduled to convert the rent-to-own place I am living in, to 'own' at the end of this year. I talked to my landlord and I do have options - rent another year; or owner financed; but I really really wanted to get the place in my own name.
Back in the day my credit was 750. Now? I don't even want to find a mortgage broker.
My goals are to have enough money to pay my bills on time, set up an emergency fund, and to raise my credit score to the point where I can get a mortgage - which I believe the minimum is 620? Obviously the higher the better, which is why I am hoping for 650 by the end of the year.