Re: Take the FICO Fitness Challenge!
01-11-2010 12:29 AM
I'm on board!!
1. My goal is to be over 600, preferably closer to 650, by the end of the year. A little lofty, considering...
2. I have a current FICO of 550. Ouch.
3. To meet this goal, I started by signing up for quarterly score tracking so I can see just how I'm doing and (hopefully) stay motivated. Using the info I gained from my first report, I am going to pay off the collections on my report this year (one will be paid off by May as part of a payment plan, the other one I need to get in contact with the agency to work out a deal or payment plan and hopefully pay it off completely this year). I also just started a debt management plan at the end of 09, and I have already seen my balances start going down (as opposed to before entering the DMP, when I would pay every penny I had and see my balances rise thanks to high interest rates) - so, I plan to continue making my payments and making sure they make it to my creditors every month. Meanwhile, just for my own financial health I am going to continue working toward building an emergency fund, no matter how long it may take me! (Right now we're putting in $15 a paycheck, though we're hoping to be able to increase that once our finances settle down a bit over the next couple months.)
you can do this! It takes a bit of time but Time heals all wounds.