cancel
Showing results for 
Search instead for 
Did you mean: 

Conquering my 28 late loan payments

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

Conquering my 28 late loan payments

Just wanted to give some people hope! I almost defaulted on 5 student loans (1/18), which resulted in 28 total late payments, and all reporting 120+ days late. Currently the oldest one is 8 years, and the rest are 4 years or less, and I currently still owe ~100% original borrowed amount of $12k(I just finished paying off all the interest). It's only been ~15 months since those late payments, but this month I was approved for a $2800 Chase Freedom Unlimited and a $5500 Costco citi, both were instant-approvals. So don't let past student loan mistakes completely discourage you from improving your credit, I've discovered those late payments mean less than the credit scores make it seem!

FICO 8
Eq - 673
Ex - 663
Tr - 685

Capital One Quicksilver - $1950 || Care Credit - $9600 || Costco Citi - $5500 || Redstone FCU Secured - $350 || Chase FU - $2800
Message 1 of 4
3 REPLIES 3
Valued Contributor

Re: Conquering my 28 late loan payments

Congrats on the new cards! 🙂
I'm glad you were able to avoid default. If you want to over some of the payment plans, if you're not already on an IDR plan, a just let me know.



Message 2 of 4
Regular Contributor

Re: Conquering my 28 late loan payments

@Sabii

Thanks! Right now my rates are real low and I only owe 12.2k, so I'm focusing on building decent revolving credit history, but this month I will be back on aggressively reducing loans. Im on the IDR, so my payments are super low, but my goal is to put at least $300 towards them each month. With all the credit calculators I've seen, getting it down to 12k will be a boost, then down to 9.8k will be a huge boost, so I figure getting there in 8 months or less is obtainable. 

FICO 8
Eq - 673
Ex - 663
Tr - 685

Capital One Quicksilver - $1950 || Care Credit - $9600 || Costco Citi - $5500 || Redstone FCU Secured - $350 || Chase FU - $2800
Message 3 of 4
Regular Contributor

Re: Conquering my 28 late loan payments

Thanks! Right now my rates are real low and I only owe 12.2k, so I'm focusing on building decent revolving credit history, but this month I will be back on aggressively reducing loans. Im on the IDR, so my payments are super low, but my goal is to put at least $300 towards them each month. With all the credit calculators I've seen, getting it down to 12k will be a boost, then down to 9.8k will be a huge boost, so I figure getting there in 8 months or less is obtainable. 

FICO 8
Eq - 673
Ex - 663
Tr - 685

Capital One Quicksilver - $1950 || Care Credit - $9600 || Costco Citi - $5500 || Redstone FCU Secured - $350 || Chase FU - $2800
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.