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My Credit Story-Ongoing

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My Credit Story-Ongoing

So im going to attempt to get one of these threads going to keep track of my journey from last July

 

MY FICO8 EXP

January 12 488

Today 537

 

FAKO TU JULY 2015 500ISH TODAY 589

FAKO EQUIFAX JULY 2015 TODAY 579 (WAS 606 YESTERDAY BUT FOR SOME REASON IT DROPPED, I THINK IT HAS TO DO WITH MY REHAB I RECENTLY STARTED)

 

I HAVE ONE CAR LOAN (CURRENTLY at 13558 and paid through April of next year)

I have 4 accts in collection, all medical. one for 90, one for 95 one for 455 and one for 855.

 

I am currently on month 2 of loan rehabilitation for my SLs.

I am currently 2 months away from paying of my wage garnishment for 2 of those loans.

 

I just got approved for my first CC ever, the CO Secured card.

I did get denied for a few more today.

 

So I am trying to form a plan of attack. Im going to pay off a few of those collections soon. I will contact the OC first and see if they can remove it if I pay.

 

Thank you all for the advise you have given me in the past.

Ill format this better tonight when I get home

 

Any tips?

 

Message 1 of 4
3 REPLIES 3
Established Contributor

Re: My Credit Story-Ongoing

It looks like you are on a good path.  Getting the baddies off your report it very important.  Keep working hard on that.

 

Were the cards you were denied for also secured?

 

I started with 1 secured credit card and then 1 secured loan through my credit union.  They were only for small amounts but helped establish a credit record.  My scores have really jumped in the past year but I still have 1 baddie showing on 2 CRA.  That will be be gone by August.  I have been turned down for cards because of that baddie.

 

Good luck on your journey.

Message 2 of 4
New Contributor

Re: My Credit Story-Ongoing

If I get my student loans rehabilitated (should be 8 months) thats going to take away those accts right? So ill be losing 13 accts. Is that going to affect my AoA?

Is there a place to see what would happen when I pay off the medical bills? I heard they werent going to be as prominent in FICO9... is that right?

Message 3 of 4
Moderator Emeritus

Re: My Credit Story-Ongoing


@clevelandborn wrote:

If I get my student loans rehabilitated (should be 8 months) thats going to take away those accts right? So ill be losing 13 accts. Is that going to affect my AoA?

Is there a place to see what would happen when I pay off the medical bills? I heard they werent going to be as prominent in FICO9... is that right?


You want to address them anyway.  FICO 9 being utilized is still a year or more off in any significant fashion, and there may be some major differences there slowing adoption (my EQ FICO 9 is a massive outlier at 780 with my file, either something is wonky which I won't know for a bit, or there was a big departure in scoring that wasn't announced)... and the GSE's have already stated they're happy cats (fat I might add) on the current FICO04/98 mortgage trifecta... and that's kinda a big deal in the credit universe.  

 

I'm not sure on how rehabbed SL's show up, that'd be a good question for the Student Loan forum honestly as the people there don't travel here much.  Admittedly I should go research that heh.  Don't sweat AAOA currently, try to get clean as payment history and therefore derogatories >> AAOA.

 

Anyway I wouldn't pay the medical collections straight, I'd check over in the Rebuilding section as in reality Off >> Paid > Unpaid in all circumstances and once you pay them you lose some negotiating power.

 

You don't have to get a second CC right now, though if you haven't taken the swing at either the BOFA or Discover secured products I absolutely would as they're incredibly good secured products with rewards to be the daily use card, and they unsecure in the future as well unlike the C1 card (which is also a good one) but will get closed eventually.  

 




        
Message 4 of 4
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