topic Re: Scores dropped 40 points in Rebuilding Your Credit

Scores dropped 40 points

Sbrooks1 — Tue, 15 Mar 2016 00:34:42 GMT

I just feel so defeated, I don't think my income is good enough to ever repair this mess. All negs will fall off this yr, have 5 CC that a yr ago seemed impossible. My dog had emergent surgery and I maxed out. How should I pay this off and buy a home!! So depressed

Re: Scores dropped 40 points

MrsCHX — Tue, 15 Mar 2016 02:55:00 GMT

Don't get discouraged!

As I've read here a ton, utilization is only a snapshot in time.

I get wanting to buy a home but it's more important to have control of your finances first. So it's probably a good that you hold off on that. Owning a home is so much more than making the mortgage payment. There's always some unexpected expense.

Hang in there.

Re: Scores dropped 40 points

Anonymous — Tue, 15 Mar 2016 04:26:52 GMT

Sbrooks1 wrote:
I just feel so defeated, I don't think my income is good enough to ever repair this mess. All negs will fall off this yr, have 5 CC that a yr ago seemed impossible. My dog had emergent surgery and I maxed out. How should I pay this off and buy a home!! So depressed

Thats EXACTLY what credit cards are for - Emergencies. Just keep paying and working down the balance. You'll get there. You might also look at my "repayment strategy'

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Credit-Card-repayment-strategy/m-p/4432567#M466000