I need to ask the experts-New Scores are In

[Anonymous]

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frugal wrote:

 Thanks so much for the info.  I've paid off some accounts for less, but I didn't negotiate to removed the line from my credit.  I heard that if that was the case, they could come back and try to get the remaining funds.  Is this true?

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Yes, it's true. If you take a settlement offer from a CA for less than the full amount, unless you get something in writing stating they agree they represent the OC fully in the matter and they agree the debt is satisfied in full, the OC can sell the remaining unpaid amount to another CA and start the whole mess over again.

Payment will NOT reset CRTP, but it generally does reset the SOL. See the link in my sig.

Nothing wrong with settling for less, if you get something in writing that the debt is completely satisfied, they won't ever try to collection on it ever again, and ideally you get a deletion.

Message Edited by Noah_Bodie on 08-09-2007 03:55 PM

[frugal]

New Scores are in !!! 

Equifax reached 575, Transunion 612 and Experian 590.  4 months ago (as in told in the beginning of this thread)  my score was a shocking and very low score of 471...I can't believe I gained 100 points.  I just want to let everyone know that anyone can do it, if you are dedicated and get advice from this forum.  The GW and PFD letters work on some things.   I feel you don't need a Credit Counselor if you get help on forums like this.  I can remember in the beginning, confused on what CC and GW meant.

I always leave 3% on all of my 3 CC every month.  I have one major Medical bill in my collection; but, that will and everything else will be paid in full. 

It feels so good getting approved for simple things.  This is only the beginning. 

[haulingthescoreup]

Thank you so much for updating!!! I'm always wondering what has happened to posters from several months ago.

Great work on your credit, and nice job taking ownership of your cards! I understand completely what you mean about lates and denial--I didn't have as many, but I still look back and wonder what on earth I was doing. I read where someone else called it "credit coma" --good a term as any.

Will you post back when you break the 660's? That's when you get the magic "good" on the speedometer. (Or sooner, too!) Congrats, fantastic work and post.

[frugal]

Thanks Haulingthescoreup for the encouraging words...this is the support that has and is helping do what I'm doing.

And yes...I will let you know when it get to 660.. that will be done within. 6 months.  because the healthy student loan will be off.  I'm feel very confident that once I pay them and it goes to the bank, it will be a PDL.  Also, once my Credit Limit go up with the 3% left on balance, collections and the student loan, and other little things that will be coming off in 2007, I think it will put me over.

Like you said, I can't wait for the GOOD on the speedometer.  FYI, myfico as been alerting me every month for changes. 

[frugal]

New Scores are in 596 Equifax, Transunion 625(this should be higher because I haven't pulled it recently).  My FicoScore should go up next month (Jan 08) since I've been very aggressive with payments and leaving a 1% balance on my CC for December. I can't wait to get over 620. Just to think it was a 471 in June of 07.  This has become an addiction for perfecting your score 2008 should put me around 660's.  My goal was to get over 600 by December, I didn't meet it. However, I was just off by 4 points.

Message Edited by frugal on 12-28-2007 03:16 PM

[marty56]

This has become an addiction

If I had thought about my credit score before I changed something or opened many accounts I wouldnt have wound up with 70K in CC debt and in a DMP program for 4.5 years.

Everytime I think about using or getting credit you can be I also think about the effect on my score.  yes it is an addiction for me as well but given the past, I dont think thats a bad thing.

[frugal]

Keep plugging away Marty56.

[haulingthescoreup]

Hi, frugal, great to hear from you again! Glad to hear that things are chugging along.

Nearly 130 points in 6 months! That's outstanding! --keep us posted.

[marty56]

frugal,

660 then on to the 700 club.  Great job.

[frugal]

Well...I'm in the 600's and it feels SO good!  I know this may seem not a big deal and a low fico score to some, but wow...my eq is 609 as of today.  It may be more when one of my CC gets reported and updated for this month.  I feel very confident that my score will be between 660-690 by June 08. I want to get in this goal range because it would be my one year anniversary date when I started from a 471 score.

 It has been a lot of work but I feel better knowing I'm on the right track. Because of this journey, I have gotten more responsible and I can strug off things I want and am quite eager to pay off everything on time and leaving 1%-3% on my CC every month.  Thanks to all on the advise and tips that were and are offered on this forum.

Message Edited by frugal on 01-14-2008 02:21 PM