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February Check In
When I started the challenge last month, I had such good intentions for this year! After being out of work for an entire year, I finally landed an awesome job that pays me well...with an opportunity for a raise in a few months. I have the priveliege of not having a payment for housing. This was my year!!! With almost $2000 a month after my bills were made I was going to be able to dump tons into the installment payments that I have...a 700 score was coming my way!!! Sadly, I found out that I had 3 Texas backed student loans that had defaulted without my knowing. And that's not a copout...I swear I had no clue. The servicer didnt even have my phone number, address, or email to reach me.
I know that sounds crazy..."how did she not know that she had three student loans out there?" Well--I consolidated my federal loans last year and Navient explicetly told me that all of my loans qualified for the new payment program. Back in college when my biggest concern was registering for classes in the next semester, the last thing I was thinking about was whether or not they would all be eligible for consolidation.
Anywho...that was a gut punch. The Texas AG office threatening to file a judgement on me if I didnt come up with $7500 bucks in 7 days. Needless to say that I wound up applying for a few personal loans here and there that contributed to 3 or 4 HPs. And any hopes to pay off extra on my car payment to get it 100% current and federal student loans have been put on hold until I can recover a little bit.
The next kinda lame thing is that I went into the next tax bracket by $750 dollars, which means that I owe way more in taxes. That is kind og a bummer because I thought that I would be gaining a return to put towards some debt. Instead I will be writing a hefty check to Uncle Sam soon.
The good news is that to start February: my student loans are all 100% current, I was able to negotiate a PFD on a chargeoff, got approved for a Secrured Card with Cap1 (now my second SC), and I went from 60 to 30 days behind on my car payment!
The goal for the rest of the month is to close the gap on my car payment so that March will report current and figure out a new budget that will allow for me to pay parents back for the $ they loaned and also incorporate a new SL payment in the mix as well.
It is definately hard to stay positive in times like this. I already want to throw in the towell. But, I want to be out of my student loan debts in the next 3-4 years so I know that I have to stay in the challenge mentality.
Heres my February Check In:
So far since the beginning of the year, I have increased my EQ score by 19 pts, TU by 18 and EQ by 26 pts. Main reasons for this is right after starting this challenge I paid off 2 old collection accounts. Then I requested validation of one of my old debts and they couldnt provide it and deleted that from my credit!
I have cut my credit card utilization down to below 10% now and am tracking my statement dates like I hadnt done before joining this site. Those new utilization numbers should start reporting this month. Also, I just opened my second credit card account and now have 2. Each with a $500 limit that I will use to build my credit. Paying my auto loan off this month and will open a share secured installment loan from my credit union later this month and after that I'm hoping to garden for the rest of the year. Cant wait to get my spade soon!!
Wishing everyone else good luck on their goals!
p.s. ... is it too late to adjust my yearly goals a bit? I was a bit naive when first setting my goal for the year and may have bitten off more than I can chew.... lol
@psylentj wrote:
p.s. ... is it too late to adjust my yearly goals a bit? I was a bit naive when first setting my goal for the year and may have bitten off more than I can chew.... lol
It is good to keep your goals slightly out of reach. Makes you have to truly stretch (grow) for them.
February Goals
Successes/Waiting
January Goals
Get 90day lates removed from 2 stuent loans that were marked with lates even though I was in deferrment. Success! Got a letter last week they would be removing the lates. Should update within 30 days.
Get Waypoint Resource to remove collection report for an account that was settled in 2016. Success! Sent letters mid January. Had a notification that they were removed from TransUnion. Waiting to see removals from Equifax and Experian. **These are now removed from all credit reports.
Enhanced Recovery for utility bill from 2014: I didnt send anything to them but they were removed from my Transunion and Experian credit report. Maybe due to the letter I sent to utility asking for goodwill forgiveness on previous derogotary account?? No idea. WE Energies is still reporting negative right now. Enhanced recovery is removed from TU and EX and so is WE Energies. Success!
JH Portfolio Removal. This one is gone. Don't know when. But it dissapeared.
Credit Card UTI down from 69%: Down to 52%. Hoping to hit 30% by end of February. ** Two card updated balances and my mortgage score went up 20 points. I have 5 still waiting to report lower balances so we shall see how that impacts my mortgage score.
Get Conserve to remove collection account for school tuition. Settled in 2016. They sent a new report with "unpaid". Sent a request for payment history. They returned with payment info, which included the 4 settlement payments made in 2016. Returned a letter to them asking for clarification as to why the account was still being listed as unpaid when they have the settlement payments listed in my account transactions. Offered $250 payment for deletion. Waiting to hear back on second letter. Hoping to PFD if not successful with GW.
EDIT 2/12: I got a call from conserve stating the new reporting is accurate and that the old account was "closed by mistake". Claim they are removing the old report and leaving the new one. If they do that and dont add the new report then this new report will only be showing on my Equifax report. Not to bad. They wouldnt do a delete. Thinking of touching base with the college to see what my options are with them. If they will remove the record if I pay directly with them.
GW letter to WE Energies to remove negative tradeline from 2014. Reporting to TU and EX. Waiting to hear back. Update: 2/16: been removed from reporting. Yay!
I am calling to speak with a LO that works with our friend agent. He has amazing reviews. I will be seeing sometime soon what else we need to do in order to be mortgage qualified when we are hoping to be. EDIT 2/12: We are meeting with LO on the 23rd. He already pulled our reports for then so we will have to take in a current report since 5 of our CC will be reporting new balances (less). Plus if anything else comes off between now and then.
Possible need to PFD- February
Conserve: May offer 50% for delete- They wouldn't do a PFD so checking in with College.
World Finance: may offer 50% for delete(due to fall off 1/2020 but this company is nonresponsive to everything. So no idea if they will even respond to a payment. Maybe. SOL expired this year 1/2019) not going to bother with this one unless I HAVE to. Falls off my report in less than a year.
Diversified Consultants: $213. This is an ATT account I forgot about. Just sent in equipment to get my credit. I am supposed to call back in 2 days to check balance update and then I will pay the $47 I owe on this account. Once done I will GW AT&T to have collection deleted. I am sure it will be no issue.
No progress since I just started. However my goal for this month to apply the AZEO method and see how that effects my scores!
I was reminded this week that this is going to be a long journey with ups and downs. Received my tax return and paid down my Double Cash by $1,000 only to have Citi take AA the very next day and reduce my credit limit by virtually that amount. Still glad I did it because it it got rid of 75% of my highest interest account but annoyed that my scores won't get much of a bump since my utilization is virtually unchanged.
hello...this should be fun.
can someone show me how to get cc images in signature and the fitness logo...thank you
@Anonymous wrote:can someone show me how to get cc images in signature and the fitness logo...thank you
This post will show you how to add credit cards.
THIS IS HOW YOU ADD CREDIT CARD PICS TO YOUR PROFILE
This post has the instructions for adding the Fitness logo.
Official myFICO Fitness Challenge Signature