Hope that I'm not too late to the party. What can I say. I found myfico in 2009. I had/have 10 charge offs and collections from 2006 after losing a job. I came here in 2009 to get myself on the right path. In 2010 I opened a Cap One tradeline. First new tradeline since 2005. Then I subscribed to myfico reporting so that I could monitor my progress. My scores were 534 EQ & 555 TU in May of 2010. From late 2010 to late 2011 I opened 4 more tradelines including a Citicard, Cap One, Orchard Bank and First National. In 2011 I began to pay off the collections and charge offs.
2012 Was a Good Year
- Started reading the forums to figure what I should do to obtain a mortgage.
- Increased TU FICO from 578 in September - to 656 December and increased EQ from 634 in June to 675 in December
- Paid off all collections except for one
- No late payments or missed payments since 2006
- Increased CL on two Cap One cards
2013 Goals
- Increase EQ FICO to 700 by Oct and increase TU Fico to 715 by Oct (Mortgage Lender pulls as of Jan: EX 684, EQ 674, TU 656
- In Jan I paid off the last collection
- All of remaining 9 collection and charge offs derogs are scheduled to drop from my reports between March and Oct
- Obtain a USDA mortgage by Jan 18 and close on my house March 1st (In underwriting right now)
- Feel better about about sending a good deal of cash to my mother every month to support her after my father died
- Increase my rainy day fund
Starting Score: EX 575/TU 534/EQ 570