Fixitquick's credit repair journal

[fixitquick]

Got a new SW update today.  EQ is up to 573! (TU is up to 552 - MCM is reporting as a collection account on TU, which seems to be bringing that score down a bit).

61 points in 2 months.  Definitely hoping to hit 600 by 2012!

Oddly enough, the Score Simulators suggest that I'll have a higher TU score than EQ in 24 months if I pay down my utilization to 0-10%

[fixitquick]

Does anyone have any suggestions, besides paying down my Amex, to improve my scores? 

Any suggestions on what I can do with the Sallie Mae and/or Great Lakes student loans (besides wait it out)?

As always, thanks to everyone for their suggestions - although I haven't had amazing results YET, I would've never become this self aware and put through the effort that I have.  In a year, I'm definitely much more responsible and have a much better outlook.

[Chris123nTx]

You certainly are doing all you should be doing. Utilization is the biggie but you know that. Awhile back i took my utilization fro about 60% to under 20 and got a huge increase. Then from 20% down to 2% and ended up breaking 800. I have no negatives, but still the utilization is so dang critical. You can also add money to the secured card or open another. That available balance should help too. You knock down utilization by either paying debt down or adding available credit. Of course each individual card with uber high util counts negatively too, but at least overall util could be.lowered.

[fixitquick]

thanks - that Amex balance is a daunting task.  Last August, they offered me a ~60% settlement, which I sometimes wish that I would've accepted, but I definitely accept the responsibility and want to get back in their good graces.

Fortunately, they've already promised me a $5,000 Optima once the existing balance is paid off.  Assuming that I can get it backdated to 2000, when I originally opened my account (I've read lots of others have done that), I should easily be able to jump, and stay, in the 700s...finally putting my irresponble 20s behind me!

[fixitquick]

Minor SW alert today. EQ is up from 569 to 571... I think I can, I think I can...

[fixitquick]

SW update today - no change in score, but 3 of my student loans that once totalled $8k+ now are reporting as "paid collections" with $0 balances.

This, in addition to some other progress (see my post a few back - updated notes in blue) will hopefully yield some score increases in the next few weeks!

I'm really eager to hit 600.  Fortunately, with the student loans being paid off, I now have an extr a$400+/month to put towards the Amex - should be able to start bringing that utilization % down much quicker.  Going to try to start shooting for $1,000/month in hopes that it'll be gone and I'll have my new Optima within 15-18 months.

[fixitquick]

I'm too impatient...decided to purchase my updated EQ report today.

No score change, but GREAT NEWS - MCM is gone from EQ (still shows up as a collection on TU, however)!  Sent a snail mail GW letter to them on 04/08/12 and an email on 05/04/12 (yesterday), so I'm going to assume that the letter I mailed ended up in the right hands.

Hopefully once Dell and (FINGERS CROSSED) my student loan accts fall off, good things will happen.  Definitely going to continue to funnel as much $ to Amex as possible.  Of the 4 student loan tradelines reporting (all related to the same 3 loans), one is reporting 90+ days late a whopping 12 times from Oct '07 - Jan '09 EQ/ 16 times from Sept '05 - Jan '09 TU - although their effect has probably been diminished a little since it's been 3+ years, I really think some good things will happen to my scores if this goes away.

[rckstrscott]

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@fixitquick wrote:

I'm too impatient...decided to purchase my updated EQ report today.

No score change, but GREAT NEWS - MCM is gone from EQ (still shows up as a collection on TU, however)!  Sent a snail mail GW letter to them on 04/08/12 and an email on 05/04/12 (yesterday), so I'm going to assume that the letter I mailed ended up in the right hands.

Hopefully once Dell and (FINGERS CROSSED) my student loan accts fall off, good things will happen.  Definitely going to continue to funnel as much $ to Amex as possible.  Of the 4 student loan tradelines reporting (all related to the same 3 loans), one is reporting 90+ days late a whopping 12 times from Oct '07 - Jan '09 EQ/ 16 times from Sept '05 - Jan '09 TU - although their effect has probably been diminished a little since it's been 3+ years, I really think some good things will happen to my scores if this goes away.

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Congrats! I am not surpised to see no increase with the removal, due to their still being other derogs, but that is one step closer!

Give TU a couple days to weeks. It seems to remove accounts for me about 5-10 days after EX and EQ for some reason!

I love reading these Repair Journal type threads!

-scott

[fixitquick]

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@Booner72 wrote:

Hi, Fixit.  Might I suggest? - Since you are needing to know what's going on w/ your reports, it might be helpful to have a credit monitoring service that allows you to update your reports every day (see EQ/TU/EX).

When I was ramant on the rebuild I was using freecreditscore to see EX -- True Credit to see TU -- and SW for EQ which led me to pay for 2-3 SW reports each month to see why the score changed.

There are lots of options out there to get a 3-in-1 daily puller - EliminateIDTheft is what I am using now because it's the cheapest FOR ME, as I can pull mine and DH's for 17.95 a month.  I think it's 12.95 a month for just one person.  This will alleviate any need you might have to pull an EQ report due to a SW alert, and the bonus is you get the other two reports along with it.

The CMS guide here is a good thread to read here that can guide you to your best bet if you do decide to invest.

Good luck! 

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Btw, long overdue, but I signed up for EliminateIDTheft - should have my login info in a couple of days. Thanks for the suggestion!

[fixitquick]

SW update yesterday - EQ up 16 points to 587. Will update later with what caused the jump.