cancel
Showing results for 
Search instead for 
Did you mean: 

Emergency Rebuild

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Member

Emergency Rebuild

Ok guys I messed up in my Twenties - time to make my 30’s about creating freedom for my family. Any advice? I haven’t missed a beat on any of new accounts. Credit mix is good, New Credit rates poor, Debt rates at good, payment history rates fair..... hoping to get 640’s by August!

560- Equifax
558-TransUnion
578-Experian

Revolving:
OpenSky: 284/300 (6months)
Valley fed: 490/500 (5months)
Capital One: 186/200 (1month)

Authorized users:
Wells Fargo: 4000/7500
Cabelas: 500/3000

Open Trades:
Toyota Motor Lease: 1month old
Navient & US Dept of ed: 7years old (Deferred)

Collections:
$2468 - Verizon (Last Year)
$708 - Medical (Last Year)
$2500 - bank (2011)
$2500 bank (2011)
Message 1 of 10
9 REPLIES 9
Highlighted
Established Contributor

Re: Emergency Rebuild

Well first thing those utilizations are high. Get two of them reporting zero and the third less than 9%. You have the installment loan through your lease and the Navient loans, so credit mix is ok. So the only two things you can really do to help out is pay off those four bad items (try to get PFD especially the medical one) and then start a goodwill campaign to have them removed. Of course the ones from 2011 depending on when your date of first delinquincy was may fall off next year anyway, so weigh that into it as well. 

Starting Score: EQ 497 TU 496 EX 499
Current Score: EQ 592 TU 580 EX 581
Goal Score: 700 Across the board


Take the myFICO Fitness Challenge
Message 2 of 10
Highlighted
Senior Contributor

Re: Emergency Rebuild

 


@SlimMucho wrote:
Ok guys I messed up in my Twenties - time to make my 30’s about creating freedom for my family. Any advice? I haven’t missed a beat on any of new accounts. Credit mix is good, New Credit rates poor, Debt rates at good, payment history rates fair..... hoping to get 640’s by August!

560- Equifax
558-TransUnion
578-Experian

Revolving:
OpenSky: 284/300 (6months)
Valley fed: 490/500 (5months)
Capital One: 186/200 (1month)

Authorized users:
Wells Fargo: 4000/7500
Cabelas: 500/3000

Open Trades:
Toyota Motor Lease: 1month old
Navient & US Dept of ed: 7years old (Deferred)

Collections:
$2468 - Verizon (Last Year)
$708 - Medical (Last Year)
$2500 - bank (2011)
$2500 bank (2011)

The first thing is to get your utilization down.  I would pay off the balances on the Open Sky, Valley Fed, and Cap One cards.  The two you are an au on could be more trickey.   Are you actually the one using these cards, and is the balance on them yours or the AH?  If the balance is yours pay them down as much as you can to get the best utilization.   If the balcance isn't yours thensee about having your name removed from at least the WF card as that has a high individual utl and it is helping to drive up your overall utl.   You have much smaller balances on the other cards and should be able to get them paid down.   I could be wrong but I belive that if you are removed as the AU those accounts will be removed from your report.

 

Next you need to work on the collections accounts.   If you can I would attack them one at a time starting with the newest ones to see if you can do a PFD.

 

 


FICO 8 Starting Score

Current Scores




Garden Goal is All Reports Clean

Message 3 of 10
Highlighted
Established Contributor

Re: Emergency Rebuild

Also your AU accounts, I'm assuming you are the AU? If so I'd get off those honestly, because at their untilization it is hurting you as well, other than for aging purposes. But your CCs are going to be a year old soon, so that will help. I think the break point will be at 2 years though. Not sure about that. 

Starting Score: EQ 497 TU 496 EX 499
Current Score: EQ 592 TU 580 EX 581
Goal Score: 700 Across the board


Take the myFICO Fitness Challenge
Message 4 of 10
Highlighted
Member

Re: Emergency Rebuild

I do use the AU cards as well so those are my debts. So first step I’m going to take is paying off my credit cards with some stock money I stash away every quarter which should be enough to make a 1k dent into the Wells Fargo AU card as well.
Message 5 of 10
Highlighted
Member

Re: Emergency Rebuild

Just want to check in Currently @ a 629 610 & 600....Just paid off every COLLECTION I HAVE. Except a Medical for $749 that popped up.

I am going to implement the AZEO method starting in June.
Message 6 of 10
Highlighted
Member

Re: Emergency Rebuild

Had to Log in and Post on The first post I made on MYFICO!! I Started out in the 500's!!

Guess What ??I Close on my First Home Tuesday Morning.   

Today as of Nov 1st my credit sits @::::: Ex - 681 Eq-669 Tu-681.

 

Stalking the Forums Helped alot. Also for anybody else on the ComeUp. Follow The Azeo method because it build financial discipline & pay your bills on time!! Remember it wont happen tomorrow but by JAN 1 2019 i predict ill be a 700 HOPEFULLY!!

 

WHOOP WHOOP!!!!

Message 7 of 10
Highlighted
Valued Member

Re: Emergency Rebuild

Great job! Were you able to get those collections deleted when you paid them off?





Message 8 of 10
Highlighted
Frequent Contributor

Re: Emergency Rebuild

Congratulations!!!  I love when people update with SUCCESS!

Present Day...Equifax: 765, TransUnion: 778, Experian: 758
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
PenFed CLOC: $500
Message 9 of 10
Highlighted
Member

Re: Emergency Rebuild

No I did not get them deleted. They are still on all 3 credit reports however paid is better than open! I will ask for early exclusion after I close on Tuesday.

But most important if they are old collections ask to settle. Settled and paid in full count the same as far as scoring unless u can get them to delete for paying in full....
Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.