@BigNorm4Life wrote:I simply don't know where to start with my debt. its frustrating me to the max! I think I should have just filed for bankrupcy
Apparently its an actual difference between fako scores and fico scores. I pulled my 3 scores after working up the nerve to pay $40 a month for it (why is this so expensive) and my report is unforgiving
my scores are:
Equifax-568
Transunion572
Experian-576
All 3 CRA's are reporting me @ 90-94% utizlization in the red . I have 9 negative accounts along with 4 collection accounts.
lets start with the good... With an Income of $67-$70,000 a year I have 6 credit cards in my name:
Capital One secured $640 limit
Caital One $500 limit
Creditone- $500
Citit Secured-$200
Khols-$300
I'm an AU on:
$1,000 Best but Citi
$2600 Well Fargo Visa
$300 Old Navy
$800 Care Credit/Syncrony
I have a car in my name with Santander Consumer as well and I'm a co-signer on my girls car with Toyota finacial
Now for the worse
I have 9 negative marks and 4 in Collections:
1&2-Both my auto lenders have multiple lates. 2015/16 I went thru a layoff and had to pick rent over car payment until I was able to get ahead with another job. I've been current for months
3&4- 2 of my student loans went into default, I actually just started the process of Loan rehab and my first and second payment is today and the 29 of every month. the loan is only 6 grand all together and I think they snatched my tax return of $2200 before I even realized so I might have this payed off in under 2 years
5- American Airlines FCU. I had a secured credit card off $300 that's a charge off
6- Navy Federal- I'm in the hole for $5000 charge off + 400 in a negative checking account if I remeber correctly. last activity is $2014
7- Helm Asscoiates- Voluntary repo... got scammed into a $10,000 used car that was worth $3k. last activity 2014
8&9- I'm not sure... I believe this is the original creditor (PNC Bnk) for my student loans that were in default. the current lendor is Ascendium so I'm going to despute that
My Collections are:
1- Aargon collections... $351 for an old collections
2&3- again Ascendium education for the loans I defaulted on thats being repayed
4- This is a big one. I went to a trade school to further my skills and in a job that I got layed off from and I had to stop attending because I had to work. now I have some student loans that are on forebarrence for this school and I really don't know why I have these charges. its being reported as a $16k collection and not a student loan. I'm am in the middle of disputing this
I accepted the fact that its gonna take me 5 years to get into the 700 club. and after typing this out... my situation is not that bad compared to what I read on these forums
I was able to pick up another job on the weekend... pays $400 a day that I was gonna use towards an engagment ring. I'm thinking I should adjust my priorities a little. I don't want to get married like this
My girls credit is mid 600s across the board. The only thing thats holding her back is the late car note payments plus keeping balences on her cards that we payed off... based off what I learned on this form... she should be in the 700s in the next few months
Should I consider chapter 7 or should I garden what I have, bide my time for some of this stuff to fall off? From what I read... paying of stuff is sometimes the wrong thing to do... I dont know what to do abot Navy federal
Don’t file bk. You make more than me by $40,000 and I have 15-20 negatives and 7-8 collections depending on which report you look at and I have been getting everything back on track currently. So you got this.
Starting Score: 494 503 521
A few years ago I decided to finally file my taxes after not filing for about 3 years. I had a couple thousand dollars owed to me, and was super excited about getting that money. Never saw a single cent. Apparently, it all went to one of my student loans that I never paid and the rest ended up being garnished from my paycheck. My other loan was rehabbed with Navient and I'm so thankful that I was at least smart enough to follow through with that. It was back during a time that I didn't give two craps about my credit. My student loan was originally for $2,500 (they both were), but since it's been like a million years, a buttload of interest was tacked on and I'm now paying $6,000 as well.
Just some advice I can give... If you can, pay a little more towards your student loan each month. My payment is only $70, but I pay an extra $50 each month and that alone will save me a couple hundred dollars. I'm going to do the same with my car payment until I can refinance. My interest rate isn't so bad, but once my credit reaches the 740's, I'm going to refinance for sure.
