02-13-2013 04:14 AM
My fitness challenge:
I started out with a myFICO EQ score of 558, two collections and one charge off with no other positive revolving accounts.
So far I've gotten the collections deleted off (hopefully they don't pop back up), with that my score jumped to 576.
-Open good revolving accounts, atleast two both of which will probably be secured cards.
-Do not apply for anymore new credit until atleast October 2013.
-GW the charge off on my account (already made attempts, will continue to try)
-Put atleast $3000 into savings for a home.
Goal score as of 02/13/2012 is 620.
02-13-2013 02:29 PM
After struggling with poor credit practices early on in our marriage, a foreclosure on a family home that the other siblings refused to deed over, and several years of not utilizing credit at all with the reasoning that using cash only couldn't possibly hurt us, my hubs and I are now serious about cleaning up our credit (and keeping it clean!)
I created the siggy with my current scores. We want to purchase a home in the very near future using either an FHA/USDA/VA mortgage. I know we need at least 640 FICO's with each CB, but 650 is the goal I'm comfortable with.
I have one HSBC charge off, 4/5 delinquent accounts with CA's (one is the same OC being reported by 2 different CA's on one or the other CB report), and no active credit cards. We just purchased a new car in Dec. 12, which will hopefully help our scores. (WellsFargo is reporting) Hubs has 2 delinquent accts showing on his reports, totaling less than $500. I'm not including his report in my postings here for the sake of keeping it as simple as possible. My total outstanding balances total just under $800. I'm hoping to get this squared away as soon as possible so we can take the next big step in our journey...home ownership.
02-13-2013 05:13 PM
Business Bk in 2007 (large real estate brokerage firm).
Lost my house and pretty much everything else I had worked for the previous 15 years.
Been paying cash for everything the last 5 years; which obviously didn't do my credit any good.
Decided to get a car loan 1 year ago and 4 basic credit cards the over the past 5-6 months..
My score is back up about about100 points: TU 696, EQ 659.
Goal = TU 740, EQ 720 by end of 2013
02-14-2013 01:21 PM
I started monitoring my credit reports and my scores back in May 2012, through another site until I discovered myfico and its forums just recently (December 2012)
I am so glad I did, as I started reading some of the steps (which I have been taking) to give my score a boost.
My scores have gone up a bit, and I have been able to sent GWs, dispute inaccuracies in my credit report and working on making timely payments is on my list.
Mid May 2012 Scores - EQ 586 EX 601 TU 575
Mid Jan 2013 Scores - EQ 643 EX 633 TU 646
Mid Feb 2013 Scores - EQ 676 EX ? TU ?
Start Disputing baddies on Equifax and Transunion this month (February)
Continue to make timely payments on credit cards
Stop App spree impulse - Working on it
Pay off items gone to collections - Done !
Increase Fico to 700 by June 2013
Improve my overall financial health for 2013.
02-14-2013 02:42 PM
got a FICO alert today up to 660 in less than a month 14 point jump, I just need to let my credit grow in the garden.
02-16-2013 03:58 PM
Posted this intro a few days ago, will just use it here as an intro to my story.
First, my story: Wife and bought house in 1999, everything was great. Both had excellent credit, jobs and numerous credit cards including Amex. No budget to speak of, loads of discretionary income. Wife worked for a restaurant company as a corporate exec, so monthly salary package included free meals at every restaurant in the company so we ate out a lot. You can see the problems coming already.....
First child born 2001, we decide to try and have her stay home while I worked. Went from two salaries to one without significantly adjusting lifestyle or spending habits. Got into trouble and started using savings and credit cards to keep up.
Realized the extent of problem, and adjusted. Came up with a budget to live within our means. Things getting better. And then....I was injured. Medical bills, loss of income, you know the story. Things got pretty ugly. Declared Ch 7 BK before Federal BK law changed in Oct 2005. Let house go as well, as it was underwater and as much as we loved it we knew the value wasn't going to recover quickly and we could see the location wasn't going to get much better either.
Moved into a house in a better area with better schools. At this point our primary motivation was our kids (we now had 2!). House belonged to a friend who had taken a job elsewhere. Great house, great area, and some of the top-rated public schools in the state. The current owner was a good friend and knew what we had gone through and really wanted to sell it to us, but we were "gardening" as hard as possible and trying to repair/improve credit, but just couldn't buy it yet.
Had a couple of hiccups in the 2007 and into 2008. Cap1 gave us both credit cards as soon as our BK was discharged. We hadn't liquidated all of our credit debt, and we were trying to do the right thing and pay off as many debts as we had. We still had some troubles paying all our debts and both Cap1 accounts were delinquent more than 60 days. Finally both accounts were sent to collection and we were eventually sued by the collection company in County Court in 2008. At this point CR was now back down in the 500's.
This was the final straw. We had worked so hard to improve our credit, live within our means. This would turn out to be the last baddie on our reports. Set up payment plans with the Court and paid both accounts off early. We "gardened" even harder. Pulled all Triple CR's (although know now these were FAKO's) and disputed incorrect or insufficient reports. Wife was working again after 2nd child was born and we were finally able to buy the house we were living in in Dec 2011!
Kids are happy, love their schools, love the neighborhood. Love their new friends.
So now what? BK won't drop off CR until 2015. But FICO score as of today is 689. Wife has a Orchard Bank credit card (unsecured) and car loan is in her name. I don't have any CC's, but use a debit card a lot. This doesn't help my CR, I know. I do use extensive budgeting and a software program to make sure we pay everything on time and in full though. Mortgage is in my name. ***EDIT: approved today 2/16/2013 for a CC with a $500 CL from my CU!***
I do have established credit history of over 14 years and my last reported late payment was 4 years, 7 months ago. I have no accounts past due.
Really looking forward to this challenge!
02-16-2013 04:30 PM
Experian deleted my First Premier file and inquiries, which made my score jump 65 points.
I am battle Equifax and Transunion to accept my Identity Theft Victims' Complaint and Affidavit. I called the FTC to file a complaint and they gave me information for the CFPB - Consumer Financial and Protection Bureau, which regulates the credit bureaus. Their number is (855) 411-2372.
Also, I found a website that gives you backdoor telephone numbers for a live agent with the credit bureaus. It is http://www.contacthelp.com/directory/Financial%20S
It has been very frustrating dealing with the credit bureaus because they operate as the repository, furnisher, and collector. Luckily, the federal government has a new consumer agency that oversees their actions.
02-16-2013 06:09 PM
Recovering from bankruptcy due to losing my job and some bad personal decisions back in 2003, finally cleared after the long 10 year wait. Currently trying to build my credit with the clean slate I have been given, which has given me absolutely no credit at all. I want to get my credit score above 750 and maintain a steady incline. I been currently working on increasing my credit with secured credit and a store credit card and taking steps slowly and making sure that I maintain a great track record this time. Ultimate goal is to achieve 750 plus and finally buy a home for my family.
02-17-2013 01:18 AM
Poor choices, coupled with struggles with alcohol and gambling, destroyed my credit from the get go. Now sober and no longer gambling for nearly 4 years, it's time I take the steps toward rebuilding. I am able to face my problems today rather than run and hide from them. I know I have a long road ahead, but the journey starts with the first step.
I'm not sure if my goal is reasonable for the year, but I would like to eventually get there. My goals are 1) get my student loans payments caught up and back on track 2) get whatever other accounts I can current or paid off 3) Open a secured credit card account