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New Member
SGT_Stu
Posts: 15
Registered: ‎06-12-2007
0

Good times in credit score land

Hi all!
 
Through a lot of hard work learning about credit, little ways to work on it, and a lot of pain (to my checking account) I have a bit of a success story.
 
A few years back, in 2005, I first took a look at my credit score, and I knew it wasn't a good thing when it read 312.  I was a young soldier, on my first trip overseas, and still felt somewhat invincible about credit, even with a low score, it just didn't sink in.
 
Two years later, it's early 2007, and I'm on my third trip overseas, newly married, and finally thinking about the future in the long term.  Checking my credit report again, my score is right about on the 500 mark.  It's a huge improvement over what it was, but still not really enough to make a difference, and I have even more negatives on my report as I did before.  A car repossession due to mishandled paperwork on my first trip overseas, several accounts in collections (old cell phone bill I forgot about, a bounced check for $12, etc) and don't get me started on the student loans!  So I decide it's time to make a stand, buckle down, and fix everything.
 
Reading a lot on these forums and other websites, I felt kind of disheartened that just paying everything off wouldn't just magically fix my score.  Realizing that it would take time, I rolled up my sleeves, and got to work.  I made sure all of my student loan payments were set up to be paid every month, a huge first step.  I then systematically went through the list on my report and got in touch with every collector, and did the hardest part, paid them all off.  Today, I made the last payment to the collectors, and now everything is paid off, except for student loans which are set up monthly, and 1 credit card, which I am dutifully chipping away at every month.
 
I was definately feeling pretty good about being out of collector's debt, and even more when I saw that my score had gone up to just over 600! That's about 100 points in a matter of 4 months.  July saw a jump of about 80 points when a LOT of my negatives dissappeared.
 
My initial goal of reaching 600 by the end of the year came 5 months early, and I'm tempted to set my goals at 650 by January!
 
Thanks a lot to everyone who shows support on here, and for those who have dished out some priceless advice.
 
-SGT Stu
Established Contributor
bren39
Posts: 673
Registered: ‎07-22-2007
0

Re: Good times in credit score land

Good for you... This is truly encouraging....thanks for sharing..
TU 662 EQ 644
EX 643
Established Contributor
myhearts07
Posts: 858
Registered: ‎06-26-2007
0

Re: Good times in credit score land

Great job and story, Sarge!!!!
 
Keep it up and you will reach your goal.
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Good times in credit score land

Keep at it....
Frequent Contributor
cfstr1
Posts: 436
Registered: ‎06-15-2007
0

Re: Good times in credit score land

Great work!!! This is a wonderful lesson and reminder that even though we make mistakes in the past, we can build from them and make a better life.

Thanks for serving our country and helping keep America safe.
Contributor
overwhelmed
Posts: 336
Registered: ‎08-02-2007
0

Re: Good times in credit score land

Can I ask how you did this? I have several accounts charged off or in collections. Several!! and, some of the collection agencies sold to other collection agencies. My scores are 555/526/526. Did you write letters and try to get things removed or did you just pay them off? Any advice or suggestions and can you tell me exactly what you did?
Frequent Contributor
cfstr1
Posts: 436
Registered: ‎06-15-2007
0

Re: Good times in credit score land

Congrats on all your hardwork. You deserve it.
Valued Member
crazynurse123
Posts: 39
Registered: ‎04-29-2007
0

Re: Good times in credit score land

Thanks for your story. It definately gives me some hope. I am looking to buy a home in the next year or two and when I initially spoke with a finance company I was told no bank would give me a mortgage with my score of 530. thanks again.
 
 

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