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What to pay down

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Regular Contributor

What to pay down

Our goal is to buy a home in Feb-March.  We are excited but I want to make my profile look the best.

 

I am looking to pay my cards down to PIF but overall I am at 28% util as of right now.

My car loan looks good, I am actually about a payment and a half ahead.

 

Next to the BK7 our student loans are potentially the worst looking thing on my credit report at the moment...  Due to life happening, unemployment, child being born etc I took a couple different short forbarances so my amount owed is greater than ammount borrowed on some loans:

 

loan 1: B $8500 O $8580

loan 2: B $8500 O $8580

loan 3: B $12000 O $13500

loan 4: B $400 O $0

loan 5: B $4500 O $4480

loan 6: B $3500 O $2780

 

 

My question is.  Where do I start dumping the money?  Should I get them all down to less than borrowed?  Should I start pounding away at one or two of the smaller ones?  I am not really looking for whats going to save the most money on the loans but moreso whats going to get me the extra points on the FICO.  Every little point can count :-)  I have about 4 months SO I think I can pump in an extra $4k.  Depending on when my bonus comes in I might be able to pump in an exra $1k-$2k

 

After we get into our house and budget straight I will worry about paying the loans down.


Equifax 3/29/2013 - 649, 4/1/2014 - 651, 4/14/2014 - 662, 4/16/2014 - 655
Transunion 3/29/2014 - 648, 4/29/2014 - 650, 5/1/2014 - 653, 6/10/2014 - 662 (barclay/discover), (4/16/2014 - 658 - lender pull)
Experian 4/1/2014 - 653, 4/14/2014 - 669
What in my wallet? Secured Card $550, Barclaycard Reward $3100, Discover IT $1300, Kohl's $400, Navy Federal cashReward $2500, Navy Federal $17800 for a car 2.79% for 72 months.
Message 1 of 4
3 REPLIES 3
Regular Contributor

Re: What to pay down

What are your scores? Are you currently paying all of these loans?
Message 2 of 4
Regular Contributor

Re: What to pay down

Don't pay your credit cards to zero, I actually lost 19 points for paying a few small credit cards to zero.

Message 3 of 4
Regular Contributor

Re: What to pay down


@EricDET wrote:
What are your scores? Are you currently paying all of these loans?

I dont have all my scores,

 

Eq 659 from myfico

Tran 662 from Barclay.

 

Yes I am currently paying on all of the loans.




Equifax 3/29/2013 - 649, 4/1/2014 - 651, 4/14/2014 - 662, 4/16/2014 - 655
Transunion 3/29/2014 - 648, 4/29/2014 - 650, 5/1/2014 - 653, 6/10/2014 - 662 (barclay/discover), (4/16/2014 - 658 - lender pull)
Experian 4/1/2014 - 653, 4/14/2014 - 669
What in my wallet? Secured Card $550, Barclaycard Reward $3100, Discover IT $1300, Kohl's $400, Navy Federal cashReward $2500, Navy Federal $17800 for a car 2.79% for 72 months.
Message 4 of 4
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