topic Re: Momentum and a few questions... in Rebuilding Your Credit

Momentum and a few questions...

Anonymous — Thu, 28 Mar 2013 01:39:35 GMT

Hello, I am new to the forum and myfico as well. The myriad of information here has been amazing helpful. Thank you all. There there truly is accountability in numbers as well as seeing other people—normal like me—begin the process of turning the tide. The success stories are great, inspiring.

My utterly deplorable Fico score was all I needed to get my things in accord. Medical Bills and crappy accountability are what got me into the lowest numbers I've ever seen. How ridiculous.

Here's what I have done in the last 30 days:

1) Paid all debt/charge offs and some current 2009-2012. I assume it will take a few months to have the populate my score. I have clean balance sheet. $7k later. And about 3 months of OCD book keeping. It never reall ends...

2) Since I had a moral thing with disputes—only b/c I am the only person to blame—I decided not to ask for RFPs on the 6 cases with the CA, put have sent GW letters to the CA and CRAs. I am hopeful with persistence and discilpline that will pay off. Fingers crossed the late pays and baddies are sorted soon. Some are about to drop off. if there is ay advice on this, I am all ears.

3) I have paid my CapOne (2K CL) down to 9% and I will do so—with autopay—never to be late again. My Wells Fargo CC as well.

4) I have/had a tax lien from 2005 (satisfied in 2006) that will be removed, thanks Dept. of Revenue. Again, patience.

5) I am lucky to already be a home owner, however, the kids and my wife and I are looking to get somethig bigger in the next 12-18 months. My wife, as most of them do, has near-perfect credit. She's carried me long enough.

6) I was recently approved for a $1,500 installment loan at First Citizens Bank, so that will establish my recent, in good standing trade lines. I am lucky to have a good friend in the Banking industry dodge some bullets for me. I am thankful for that.

7) I have awesome 3 kids and been married for 10 awesome years and I am blessed to have a strong income. Myfico would say otherwise

My action plan is:

1) Stay current, no more late pays, 9% on all my Wells Fargo and CapOne revolving CC.

2) Establish perfect TLs. The installment loan and

3) Secure a few new DS cards (ie: WalMart, Target, BestBuy) etc.

4) I closed my Citi ($16k limit) paid off, as well as 3 others, 2 years ago. Boy, was that stupid.

5) New mortgage in 2014. Keep my wife's "security gland" happy-happy.

Sorry for the long post, but I am getting so much from so many of your posts and I wanted to contribute.

Thanks.

Re: Momentum and a few questions...

Anonymous — Thu, 28 Mar 2013 02:04:44 GMT

Welcome to the forums.

It looks like you did very well in reading and applying that information.

Keep up with your plan and you will be fine.

Re: Momentum and a few questions...

Shogun — Thu, 28 Mar 2013 04:19:55 GMT

Looking good!

Re: Momentum and a few questions...

koky — Thu, 28 Mar 2013 06:38:19 GMT

Good Job...

Re: Momentum and a few questions...

Anonymous — Thu, 28 Mar 2013 11:32:26 GMT

thank you, stoked to moving forward.

Re: Momentum and a few questions...

Anonymous — Sat, 30 Mar 2013 09:45:04 GMT

just signed and rec'd installment loan, with First Citizens. I have also noticed a lot of alerts from updates in regard to paid off collections. I do not expect a point hike from it, but there is comfort knowing they are settled. I will stalk the CAs and the creditors with GW letters. $6 per cert. mail stings, but from I've read it the caveat is consistency time and patience.

Re: Momentum and a few questions...

Anonymous — Sat, 30 Mar 2013 12:18:25 GMT

there is no need to send GW's certified. I would advise against that.

Re: Momentum and a few questions...

Anonymous — Sun, 31 Mar 2013 09:57:34 GMT

noted, thanks.

Re: Momentum and a few questions...

anniev2 — Sun, 31 Mar 2013 11:44:42 GMT

Good luck with your journey! You seem to be on a good path based on what I've learned as well. Cheers!