topic Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE? in Rebuilding Your Credit

MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

FREEMASON8040 — Thu, 14 Jun 2012 16:44:11 GMT

I just looked at my credit score and its 430 transunion my badies are:

Capital One judgement of 550

Hsbc charge off of 1892

American honda 5 late payments

Well i open up a secured capital one card with 200 limits, was placed as a authorize user on my mother capital one cash rewards card

and i just joined MCU(credit union) and planing on opening up a secured card with them as well.

Im going to the court on Tuesday see if i could get that capital one judgement vacated.

What should be my next step?

Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

Duncanrr — Thu, 14 Jun 2012 16:50:24 GMT

GW letters to hsbc and Honda. Try to increase CL on secured cc by depositing more. Use card no more than 10%. And pay off each month

Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

Duncanrr — Thu, 14 Jun 2012 16:55:58 GMT

Oh. And yes there is always hope.

Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

NikJ4 — Thu, 14 Jun 2012 17:06:51 GMT

@FREEMASON8040 wrote:
I just looked at my credit score and its 430 transunion my badies are:
Capital One judgement of 550
Hsbc charge off of 1892
American honda 5 late payments

Well i open up a secured capital one card with 200 limits, was placed as a authorize user on my mother capital one cash rewards card
and i just joined MCU(credit union) and planing on opening up a secured card with them as well.
Im going to the court on Tuesday see if i could get that capital one judgement vacated.
What should be my next step?

1st.....Just breath. You took the first step and looked at your scores. Now time to create a plan. Yes there is hope. I was in your place a year ago with a judgement in the amount of $3000 and a score of 408 starting. I am now in the mid 600's so DO NOT GIVE UP!!!!

I think the advise you have been given is good. Just learn from this and move forward. Take it slow. You will be discourgaged in the beginning but DO NOT GIVE UP!!!

It will get better. I promise.

Good Luck

Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

kingmidas — Thu, 14 Jun 2012 17:38:30 GMT

Yup there's hope but then there's actively working toward your goal. I was at 470 just in 10/11 and now my current scores are 636, 638, and 671. I had a bankruptcy 5 years ago and since then I have about 7-8 collection/charge off accounts. FIrst make a plan to payoff what you do you which seems like you don't have much debt but it's just that what you do have is negative. Second make yourself a goal score but start realistic or you'll discouarged quick, say instead of a goal 700, start off with 500's. You've been making good progress by doing the secure cards, make sure you pay on time. The key players in all of this is time, good payments, etc and you should be in the 500's before you know. Heck I had 66 point jump in about 2 wks, the first jump was 28 points from my secured card starting to report. Then as you build start adding different credit into the mix but it's good you have revolving now. Joining a credit union can open many doors if you have one like I do. See if they offer secure loans or any other credit building opportunities as well. You don't need any luck, as long as you stay committed, you'll get there.

Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

jcstarkey8826 — Thu, 14 Jun 2012 18:39:48 GMT

It may not seem like it, but I was at exactly 430 in 2/11. I thought it was going to take forever to move forward, then I researched how credit worked, what to do in order to improve it, and today Im at 588, since I pulled that score ive had a collection removed, one late payment taken off, and brought my util down from 117% to 0%, so I know im higher than that right now, just dont want to pay for the updated score yet. Keep working hard and stay in these forums, I stalked them for a long time before joining and they have aided me very much through this journey.

Now, I see a light at the end of the tunnel and so will you!

Re: MY CREDIT SCORE IS 430 IS THERE ANY HOPE?

FREEMASON8040 — Thu, 14 Jun 2012 21:47:38 GMT

Thanks for the advice.

How did you deal with that 3000 judgement?