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what do i do next? 600 seems so far away :(

what do i do next? 600 seems so far away :(

hey you all been visiting the forums for a while. im trying to do some rebuilding. my fico 8 scores are EQ553, TU564, EX 573. i started rebuilding in september 17. started with a secured discover with 300 limit. november 17 i was prequalified for platinum capital one with a 400 CL. so i have seen my scores increase at least 40 points since last year. this weekend i decided to apply for another capital one quicksilver one card and was approved for 500. i also applied for credit one and was approved for 300 and fingerhut approved me for 700 CL. do you think my scores should increase significantly? maybe 600 or is that hopeful wishing? gonna share my credit portfolio with you guys.

accounts 28 (5) open. of course the new ones are not reporting.

capital one plat opened 11/17
balance 220.00 CL 400.00
discover secured opened 9/7
balance 190.00 CL 300.00
US dept of ed deferred open 02/14
balance 957.00
US dept of ed deferred opened 11/13
balance 30,117.00

navy federal (charge off) opened 2012
balance 4,433.00 CL 4,000 last time i paid on this was 2014. 😭 i lost my job. it still reports every month like clockwork.

now here are the baddies.
exeter finance (charge off) opened 2013’
EQ is reporting a balance of 8,575 no close date and says 90 days late. TU & EX are not reporting a balance but TU is reporting a high balance the amount of the entire car 17K loan and says it was closed on 9/14? this is extremely odd.

campus partners student loan
reports on equifax twice one with a balance of 4,000 and one with a balance of 0 and says paid as agreed. another weird thing TU is reporting this as well but not EX i wonder if that’s why my EX score is high.

verizon is in collection
balance 1,099. sold to some company

aparment complex
balance 4,965 now i disputed this with ex and it was taken off but TU and EQ report it. this apartment was from 2011 i’m not sure why it’s still there.

recent apartment complex
2,900.00
i didn’t know i had to tell the apartment 60 days in advance that i was not renewing my lease when the document i signed said lease ends april 2017.

i also have to old ass hospital visits with a 400 dollar balance
12 REPLIES
Frequent Contributor

Re: what do i do next? 600 seems so far away :(

First congrats on your re-building. Second, begin to pay down your CC in good standings. Third, stop applying for new cards for now. Fourth, try for some PFD. Fifth, what is your SOL where you live?


Message 2 of 13
Frequent Contributor

Re: what do i do next? 600 seems so far away :(

Congrats on your rebuild!👍

corpcrmgr is RIGHT!!! STOP app’n and START paying down those credit cards you have now!! If you have to eat Ramen noodles for awhile then that’s what you have to do!! There is no super fast way to those 600’s, unless you get a handle on your current good standing credit cards. If you want to see some increases, start decreasing some of your debt. Again, Pay Them Down! As far as your baddies go? Pull your credit report(if you haven’t already?) figure out your states SOL(Statue Of Limitations) as corpcrmgr states. I live in Texas and here it’s 4 yrs across the board. If you don’t already know, you can google it. You NEED TO KNOW this information, it is vital to your approach and how to proceed.
IMHO, you should understand your situation and your credit, and I don’t mean that you are oblivious to credit...but more like you’ve got credit that has been extended to you....you should treat them LIKE GOLD!! You’ve been given another GOLDEN OPPORTUNITY! I mean that in the highest level of respect!! Nurture what you have now and don’t worry about adding anymore DEBT!!...you’ve got enough already! Work on your smallest amount that is the newest and see what you can do as far as PFD goes? Tackle ONE AT A TIME until you can handle multiple ones.

I tip my hat to you!!! You’ve come a long way in a short time and that is something to be very proud of!! Just take care of what you’ve been given so you’re not back to square one!

I wish you major success moving forward in your rebuild!! Good luck!!👍

😊
Starting Score: EQ 491
Stating Scores 02/13/2018
TU 483 EX 543 EQ 491
Current Score:
EQ 563
Goal Score: 600 (for now)


Take the myFICO Fitness Challenge

Score: 06/16/2018 TU 556 +34
Score: 06/16/2018 EX 546 +0
Score: 06/16/2018 EQ 563 +52
In the Garden until 11/2018

GREAT PLACE! GREAT PEOPLE! GREAT ADVICE!

Message 3 of 13
Regular Contributor

Re: what do i do next? 600 seems so far away :(

I agree with what’s been said before— tackle those baddies, and get them paid, cause you’ll see a jump with doing that. Once they’re paid, start a GW campaign to get them removed. Search the forums to see how to get them removed as I’m sure people have asked about how to remove them before.

And pay down utilization on your cards. It’ll also help tremendously. And stop applying for things. I’d wait at least 6 months before applying for anything again.

Credit is a marathon, not a sprint. After a few months of being frugal and tackling your debt, you’ll see your progress and it’ll encourage you to keep pushing.

Good luck! I was in your spot not too long ago.. it sucks but the hard work is worth it.


A noble spirit embiggens the smallest man.
Message 4 of 13
Frequent Contributor

Re: what do i do next? 600 seems so far away :(

Great advice!


Message 5 of 13

Re: what do i do next? 600 seems so far away :(

i live in atlanta so it’s georgia. i googled and it says 4 years of collection debt on an account.
Message 6 of 13

Re: what do i do next? 600 seems so far away :(

awww thank you all so much i must be doing good if you all are congratulating me i was almost embarrassed to post my story and come back. i found out the SOL it’s 4 years here in georgia. does that work for me in my favor? im not too familiar with that technique.
Message 7 of 13

Re: what do i do next? 600 seems so far away :(

thank you! do you think i should start paying my navy federal account that’s been charged off?
Message 8 of 13
Frequent Contributor

Re: what do i do next? 600 seems so far away :(

With the SOL being 4 yrs. you’ll need to know the DoFD(Date of First Delinquency) You’ll subtract 7 yrs from the DoFD and that’ll let you know whether or not that account is within the 4 year mark or after the 4 yr mark. Just a side note: Items can remain on your cr for 7.5 years from DoFD.
So, that means, you can still be sued on any account that is within your states SOL. BUT, you can ALSO be sued on accounts that are out of SOL, too. But, as long as you show up to court and PROVE that account is OUT of your states SOL, you win. NOT showing up can result in a judgement filed against you. So, that is why it is very important to KNOW these things, when rebuilding so, you KNOW what approach you need to take.

I hope that helps a bit.
😊
Starting Score: EQ 491
Stating Scores 02/13/2018
TU 483 EX 543 EQ 491
Current Score:
EQ 563
Goal Score: 600 (for now)


Take the myFICO Fitness Challenge

Score: 06/16/2018 TU 556 +34
Score: 06/16/2018 EX 546 +0
Score: 06/16/2018 EQ 563 +52
In the Garden until 11/2018

GREAT PLACE! GREAT PEOPLE! GREAT ADVICE!

Message 9 of 13
Frequent Contributor

Re: what do i do next? 600 seems so far away :(

From what you posted, the SOL will go away this year if it already hasn't. While it may stay on your CR for seven years, the damage is done. When the SOL has run its course, contact them for a pay for deletion. They have only to gain at that point.


Message 10 of 13