Well I found out I have my first kid on the way, and I decided I needed to do some maturing in all areas, especially financially. I am fixing to buy another house after renting for the past 2 years, and decided to check the old credit score. My jaw dropped. EQ - 666, and TC was around a 630 avg. How could this be last time I checked it was a 720. I had bought to many toys and I knew my DTI was going to be off, and I also found 2 30 day lates in the past 2 years.
Started reading and this what I have done so far.
30 day on loan - Was my Credit Unions fault, they said they would take it off, but go ahead and dispute it with all 3 also. - DONE.
30 day on CC - My screw up sent GW to Credit Union, and to Cardmember service. - Fingers crossed
Recreational Loan with 18K outstanding - Sold boat, and paid off.
Bank Loan - $500 balance - Paid Off.
Now my CC situation makes me cringe, and it takes a lot to admit what I have done.
Here are my Stats, and what I am fixing to make payments on this week. I have already payed of the HSBC, and BestBuy, but did not cancel the accts.
Does the Following look like a good payment plan, anything I should tweak? I will continue to work balances down, but this is what I have to work with for now.
Balance CL To Pay Balance UTIL %
HSBC 700 1500 700 0 0%
B Buy 2700 3000 2700 0 0%
Discover 4240 5000 3550 690 14%
AMEX 3024 4000 2800 224 6%
HEFCU 3617 5000 2900 717 14%
BOA 7712 9000 7000 712 8%
Wells F 4777 5000 4100 677 14%
Total $26,770 $32,500 $23,750 $3,020 9%
With all this done, do you have any guess as to what I may get my CS back up to?
I know it will take a while, and with all I paid off, i need time to build a new down payment anyways. I cant see how paying down the debt, vs. throwing more down on a house just to get approved could be a bad Idea.
I cant believe how much I have learned reading posts here, Thanks for any help.
