Rebuild Journal

[Anonymous]

Hello, I've seen a couple of other threads like this, and thought it would be a great way to track changes and receive input as my journey goes.

Scores:

Dec 26, '16 - EXP: 574 TU: 573 EQ: 562

Jan 8, '17 - EXP: 569 TU: 573 EQ: 584

Listed as Negative Accounts on a Report:

CBC Collections $120, PFD 12/28/16, still waiting for it to drop off of TU, gone from other two reports

CBC Collections $168, Paid 12/28/16, paid before it reported, noting in case it pops up

Medical Collections $128, In collection, popped up on 12/2816, will call and ask for PFD

Equinox Collections $62, Paid 12/15/15, paid before I knew to PFD

• 12/30/16: 1 GW letter sent so far

AES/Chase Student Loan: $2,645, Pays as agreed (I have a 90 day late from June '16)

Capital One QS: $475/$500, Pays as agreed (90 day late from Feb '16, other 30 day lates)

• 1/24/17: PIF

USAA Platinum (AU): $790/$1000, Pays as agreed (Two 30 day lates from 2015)

• 1/03/17: Paid balance to $300
• 1/24/17: PIF

JPM/Chase Student Loan: Transferred, Two 30 day lates, not sure if I can have this removed since it's counting negatively for me? It's now the AES/Chase account above

Kohl's/Cap One: $305 Charge-Off, was $405 but I am paying it down, actually settled for 60% of the debt since they wouldn't do PFD

• 1/24/17: settled

NFCU Platinum: $7500/$9000, Closed in 2014 to allow for lower interest rate, so my UTIL is crazy terrible

Plan for repair:

1. Send PFD for Medical Collections, another GW to Equinox -- PFD Letter sent 1/22/17
2. Call CBC to check on dropping from TU-- 1/26/17 : it's gone! 
3. Pay Kohl's CO for settled amount if they will still not do PFD 1/22/17- settled for 40%
4. Apply for NFCU Secured Card ($500) 1/27/17 - Approved for $500!
5. Pay Cap1 off, snowball the minimum payment amount to USAA 1/26/17 : paid off
6. Pay DH's USAA CC off, snowball the minimum payment amount to AES/Chase Student loan 1/26/17 consolidated DHs cc debt to new NFCU Platinum
7. Pay AES/Chase Student loan off, snowball minimum payment amount to NFCU Platinum

We are hoping to buy a car for my DH in March/April, so the payments to accounts will slow down. But I hope to complete up to #5 before then. I'm looking to be added as an AU to an account of a relative to help with my bad UTIL. It's hard to make plans for just my credit, but luckily DH has no baddies on his other than late payments.

Thanks for reading!

[Anonymous]

Don't get your hopes up on rebuilding - it is a stacked deck and you can't win. Here would be my next 3 entries in the "Rebuild Journal":

April 2016 - paid off mortgage. I now have an additional $1,000 a month to use to pay down my debts. Oops, I forgot - I don't have any debts. My Credit Score on CK drops 40 points within 48 hours of paying off my mortgage.

August 2016 - I apply for a secured Crap1 Card and get a $200 credit line my CK Credit Score goes down 2 points for the hard inquiry then up 14 points for the TL.

January 2017 - My dog sneezed. For some unknown reason my Credit Score on CK drops another 60 points. That's 100 points I lost and I gained 12. It looks like I will be buying my next house with cash as my CK FAKO score is now in the 580's. Since I now have $30K in the bank and that is going up at over $1200 a month, can anyone tell me why I even need credit?

[Anonymous]

Flyingifr- who hurt you?

Actually I think I remember your thread. It's all a game, dude. I'm just trying to join it.

[Anonymous]

Who did it to me?

Those who I paid down to zero and then promptly closed my account (no late payments EVER)

Amex

Citibank

Barclays Bank

($35,000 in lines lost)

Those who Balance Chased me after cutting my lines so that my utilization was always at 90% or better, tanking my scores then closing the account because I was suddenly a bad risk:

Chase

Discover

BMO Harris Bank

Kroger Finance

Patelco FCU

Wells Fargo

($125,000 in lines lost)

[Anonymous]

What made you decide to close those accounts?

[Anonymous]

Or are you saying they just closed them when you paid them off?

[cmony787]

Kyrii - solid plan of tracking your progress and using snowball method.  Stick with it and enjoy the small vcitories when they come.  

Finances have a way of dictating our mood, so getting a handle on it and understanding what needs to be done is critical.

Keep a positive attitude and keep us posted on your progress.  

[Anonymous]

Thanks cmony787! I've been able to keep a positive attitude due to my husband's credit being not as bad as mine and a small improvement on mine.

[Anonymous]

Bump for updates DH got a new NFCU cc so the USAA card is now PIF after the BT. 

[Anonymous]

A couple more updates! Got approved for the nfcu secured card today