Epic Dumb Credit Moves

[grillandwinemaster]

Two Major Credit BONEHEAD moves for me: 

2011-2012 was a bad time for us financially,

1- lost my job at the same time DW lost her job and we couldn't pay my student loans. Instead of facing the problem head on, I buried my head in the sand. I should have called my loan servicer and applied for hardship deferment, which I would have more than likely been approved for. Instead, I racked up a series of 30, 60, 90 and 120 day lates!! This could have easily been avoided!! 😡😡 BONEHEAD BONEHEAD BONEHEAD!!

2- same time frame, I couldn't pay cap1 off, and let it get charged off! Looking back, I KNOW I COULD have made minimum payments and then pay off when I regained my financial footing. BONEHEAD BONEHEAD BONEHEAD, I AM SUCH A BONEHEAD! (cue the bonehead dog treats jingle)

If I would have handled these two situations differently, my Fico scores would probably be in the mid 700's today. Live and learn. 2018 and 2019 are just around the corner. 

[grillandwinemaster]

Great thread OP! It's always good to take the time and reflect on past mistakes, credit mistakes and mistakes in life in general. 

[PrinceCorwin]

---

@grillandwinemaster wrote:

Two Major Credit BONEHEAD moves for me: 

2011-2012 was a bad time for us financially,

1- lost my job at the same time DW lost her job and we couldn't pay my student loans. Instead of facing the problem head on, I buried my head in the sand. I should have called my loan servicer and applied for hardship deferment, which I would have more than likely been approved for. Instead, I racked up a series of 30, 60, 90 and 120 day lates!! This could have easily been avoided!! 😡😡 BONEHEAD BONEHEAD BONEHEAD!!

2- same time frame, I couldn't pay cap1 off, and let it get charged off! Looking back, I KNOW I COULD have made minimum payments and then pay off when I regained my financial footing. BONEHEAD BONEHEAD BONEHEAD, I AM SUCH A BONEHEAD! (cue the bonehead dog treats jingle)

If I would have handled these two situations differently, my Fico scores would probably be in the mid 700's today. Live and learn. 2018 and 2019 are just around the corner. 

---

Same here. When I had hard times a couple years ago, I let 8 student loans default for 5 months causing 40 late payments that Navient WILL NOT REMOVE BY LAW. My fico scores are all over 700 now but I can't imaging what they would be without those 40 lates.

[Anonymous]

Every day I try to learn something new...for instance 3 days ago I taught myself Yoga so I could bend over and kick my own tushy for appling for a CLI when I knew darn well not to (the results were "its gone to review")

[grillandwinemaster]

Very nice!

Yoga and Meditation...

These two go together line Love and Marriage, like Visa and MasterCard! Lol

[Anonymous]

---

@PrinceCorwin wrote:

---

@grillandwinemaster wrote:

Two Major Credit BONEHEAD moves for me: 

2011-2012 was a bad time for us financially,

1- lost my job at the same time DW lost her job and we couldn't pay my student loans. Instead of facing the problem head on, I buried my head in the sand. I should have called my loan servicer and applied for hardship deferment, which I would have more than likely been approved for. Instead, I racked up a series of 30, 60, 90 and 120 day lates!! This could have easily been avoided!! 😡😡 BONEHEAD BONEHEAD BONEHEAD!!

2- same time frame, I couldn't pay cap1 off, and let it get charged off! Looking back, I KNOW I COULD have made minimum payments and then pay off when I regained my financial footing. BONEHEAD BONEHEAD BONEHEAD, I AM SUCH A BONEHEAD! (cue the bonehead dog treats jingle)

If I would have handled these two situations differently, my Fico scores would probably be in the mid 700's today. Live and learn. 2018 and 2019 are just around the corner. 

---

Same here. When I had hard times a couple years ago, I let 8 student loans default for 5 months causing 40 late payments that Navient WILL NOT REMOVE BY LAW. My fico scores are all over 700 now but I can't imaging what they would be without those 40 lates.

---

You and I are in the same kind of boat, though in my case it's only one student loan and about 4-5 months' worth of lates. In my defense, though, that period (October 2013-January 2014) was probably the most stressful I've had in decades, what with basically being evicted due to water/mold damage to my old condo and then having to find a new place to live, and I wasn't really thinking about that loan at all. If I had then, and especially if I'd known then what I know now, I sure as heck would have called Navient...

[iced]

My biggest credit mistake was trusting another human being with managing some of my finances. Never again.

The damage done to my credit report has been mostly healed with time, but it's still riddled with 90 day lates from Navient/Sallie Mae from 5-6 years ago. As a result, my FICO is pretty much stuck around 760.

[Anonymous]

what is the $3 utilization method referenced on the first page of this thread?  thanks!

[grillandwinemaster]

---

@iced wrote:

My biggest credit mistake was trusting another human being with managing some of my finances. Never again.

The damage done to my credit report has been mostly healed with time, but it's still riddled with 90 day lates from Navient/Sallie Mae from 5-6 years ago. As a result, my FICO is pretty much stuck around 760.

---

Hey Ice! I feel your pain, but on a positive note, I hope that someday soon I'll be "stuck" ay 760! Lol

[Anonymous]

I haven't figured the $3 thingy yet either