@AssistanceRequired wrote:
Oh, I know I have a long way to go. I was in a very dark place and finally see a little touch of sunlight. My concern was that because of my judgments, my scores would stay where they are for the next 8 years.
A good credit score is right up there with a solid retirement savings plan. It really is a wonderful thing to have this place to express my concerns and get solid information and suggestions.
Thank you all so much.
AssistanceRequired
You'll be astonished to see what happens with a big paydown in CC debt. That's the util we're always going on about. Paying down installment debt has a lot less impact on scores, so if you are faced with one or the other, set a goal of paying off all your cards but one, and have it report under 10% (not at 10%, but under) of its credit limit. Do let one report, though, strange but true. If you still have money left after controlling CC debt, then you can start reducing installment debt if that makes sense financially.
Time does help. We have many members here with some pretty unpleasant stuff on their reports, but as it all gets older, and their current histories are clean and util low, their scores do go up. You're not stuck forever.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007