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Cleanup after charge offs

Established Member

Cleanup after charge offs

At 18(2007) I was given far too much credit to be responsible. I had about 20k PLUS available credit within 6 months of turning 18. I also made some mistakes because I didn't know about CA or NOT to settle with them especially for less than owed.This is my history and I am just curious if anyone has another suggestions to help me out. I don't know if those settled less than full charge offs can have anything else fixed on them. I had to claim the"forgiven" debt as income for 2012, but does anyone have any suggestions? Or score boosting ideas? My DTI ratio is VERY low if you exclude the charge off info.


Sears MC-10,000 (Charged over the limit) became a charge off in 2011. Went to collections and settled less than owed.(Feb 2012)

Sears store-9,000 AU (worse part, I worked there so I shopped a lot!)Hardly used, still open in wonderful standing, account is older than I am by 4 years.

Victoria's Secret- 1,000 (forgot about $75 on it became a 120 days, removed credit limit 2011. May 2013 reinstated for $250 without requestion)

RadioShack- 1,000 (once used was closed in "good" standing after a year or so no activity)

CapitolOne- $1,500 (Ended as a charge off 2011 w/ CA settled less than owed  Feb 2012)


So now I am 24 with two charge offs(to be removed in 2017), reported to CA then settled less than owed. Score EQ-637 EX-655 TU-694. I am in a much better place in life. I always worked full time but I got out of that RETAIL work environment where you spent more than you make. So I have plenty of cash but bad credit. Even if all MY cards were maxed out I could still pay them off entirely and my car payment. AU card I only use once in a great while for small amounts.




I have a cosigner for my NEW auto loan (Sept 2012) Started 21k already paid down to 15k 2.9% I just decided I'd rather not pay extra every month like I have been to string this loan along longer to keep reporting GOOD on installment loans.


Secured VISA from a local credit union $1000 paid in full every month and never charged over 50%.(2 months old)


Victoria's Secret limit $250, used and paid off every month in full.


Still an AU on the Sears card w/ 10k limit. Less than 5% utilized.


I'm looking to buy a house before 2017, actually in the next 2 . I'm frustrated with myself for making this mess. Thank you.

Starting Score: 655
Current Score: 664
Goal Score: 700

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