Greetings,
I am new member to this site. I have enjoyed the wealth of knowledge found within the forum. I have been a small business owner since 2001. Like many, I took a huge hit in 2006 and lost pretty much everything. Listening to bad counsel, I filed pro-se bankruptcies on three(3) different occasions to save my properties, which in the end I allowed to go into foreclosure. In 2008, I started all over, and I haven't missed a payment ever since. However, I am still struggling from low credit scores, (1) identity theft, (2) maxed out credit, (3) escalating student loans.
Ideally, I am joining this forum to get advise on how I should proceed on 5 derogatory items that remain on my credit bureau.
1. 3 dismissed bankruptcy 2006, 2007, 2008
2. Certegy returned check - I have disputed the item and they have replied they do not have a copy on file bc it is electronic.
3. First Premier - Account charged off in 2007, I think
4. Aurora Bank, FSB - mortgage servicer that refuses to provide me with payment history.
2011 Accomplishments
Purchased 2010 Hyundai Genesis
2012 Approvals
GECRB Chevron CL $700
GECRB Walmart CL $600
GECRB JCPenny CL $300
Capital Onke Kohls CL $300
NFCU CL $1000
Denials
Citi Shell Card - reason bankruptcy
Discover - Late Payment
USAA - inquiry, public record, high utilization
2013 Challenges
1. Remove Aurora Bank listing
2. Remove Certegy Listing
3. Settle with First Premier
4. Remove bankruptcies
2013 Goals
1. Pay down all credits cards and keep at 20% utilization
2. Get approved for USAA credit card
3. Get approved for American Express Card
Starting Score: USAA EX 570 EQ 574 TU 603
Most clean up is complete. Hoping to buy a house sometime 2013
Yes, buying a house in 2013 is a goal of mine as well.
My scores are pretty good... 740 EQ FICO is actually the lowest. Based on a 11/13 lender pull the TU is 751 and EX is 792
Goals:
- All 3 scores over 760 and just for fun, I would like to have at least one score in the 800's...looks like EX is almost there at 792
- CSP before the 40K in points expires. (This is the one I am most nervous about... I would hate to be declined)
- Purchase newer Car/Loan before mine starts needing major repairs (my credit union uses my 792 EX)
- Move 5K limit Credit Union Gold Visa to 10K limit Credit Union Platinum Visa with 9.9% interest and move remaining balance of unsecured loan for a new roof to this card with lower interest rate and cash back for the transfer.(my credit union uses my 792 EX)
- 3X credit limit increase on $8300 limit Amex Skymiles Platinum I think this is available to me in May. I did one a couple of months ago to my Optima to go from 500 to 1500 and didn't realize you can only do ONE of your Amex accounts every 6 months. Had I known, I would have done my $8300 limit first... oh well... live and learn!
- Increase Chase Freedom limit from $2200 to at least 5K (I think if i get the other 2 increases first, this should be pretty smooth)
I am not sure how I can improve my credit. I have very little debt other than mortgages (I have several of those because I own investment properties). My credit UD% is around 1-2%. I haven't been late for years and continue to be on-time (most all my bills set up on autopay). I am hoping the credit line increases and paying off the roof loan will give me a little bump. With the credit line increases it will keep my UD% in the 3% range even with putting the balance of the new roof onto a low interest card. I need to figure out what I should do first... I think ask for credit line increases, apply for the CSP card, then pay/transfer the banance of the roof loan onto my low interest credit card, then go for the car loan???? I welcome and insight/recommendations!
Not sure where to eek out another 20 points... other than just time to get the 30 day late payments completely off in another 2-3 years...? IDEAS???
Starting Score: EQ 740, EX 792 (lender pull), TU 772 (lender pull)
2011 Summary (~530)
* Started evaluating and facing my poor credit decisions by viewing reports from all 3 CRA's
* Opened 2 Secured Credit Cards
* Paid a collections account (1 of many)
2012 Summary (Start of the Year~580....End of year ~662)
* Sucessfully Rehabilitated my previously defaulted student loans
* Perfect payment history on 2 secured credit cards obtained last year
* Generated a few inquiries while looking to rent a primary residence.
* Paid 2 collections accounts
2013 Summary (Start of the Year~692....End of year Goal 725)
* Goal to pay the last 3 collections accounts on my credit file
* Maintain perfect revolving card payment
* Maintain student loan payments
My overall Goal is to be in a credit position that will support the approval for a home. After obtaining the home, I want to dump my gas guzzler and purchase a newer fuel efficient vehicle.
Hello,
After reading your posts I see that one of your 2013 goals is to remove bankruptcy. I thought you couldn't have public records removed from your report, I thought you had to just let it wait until its statue of limitation timeframe. If you know how to have it removed early, can you keep me posted. I have a bankruptcy on my report from 2007 and I would love to have it removed completely from my credit report.
Thanks