I graduated the DMP in November and my scores are what you see. I got a pre-approved offer from National City for a Visa last month.
I did get a mortgage 4 years ago while I was in the DMP.
The real test is what happens when I try for a new car loan in the summer fal timeframe. At that time I expect my score to be all over 760.
It is my feeling that the CCC are more interested in recent lates and your score then TL. I will asume that any of the companies that I placed into DMP will blacklist me but thats okay, I can get everything I need from others companies.
Dont worry, never be late, never miss/bounce a DMP payment, dont apply for new credit (I did a mortgage though but I would be ready for one or all of your creditors to drop you from the DMP, BofA did that to me).
I still think also, that if your score would be a problem, if they did a manual review, the fact that you went into a DMP and took care of your debts, as opposed to other options, has to count for something.
Is that a crazy thought? 3 years, 2 months into DMP, 7-8 months left, scores 684-694.
Starting Score: EQ 679, TU 697 Current Score: EQ 680, TU 672 Goal Score: EQ 720, TU 720
There are some people who say that a DMP is worse than BK. I've never been thru a BK, but I don't think I've had any "backlash" at all...
The car dealership did a manual review. At that time, I had about 5 accounts with "managed by credit counseling program" remark on all 3 CRs. They asked me about it. I explained it. Then we moved on to finishing the app... I wasn't considered a high risk when I entered into the DMP. Never made a late payment on anything.
I think creditors are concerned about DTI, even tho FICO doesn't figure income into their calculations. My DTI is under 20%, and that includes my $26,000 student loan and car payment.
I feel better about the car loan. Thanks for the info.
I dont think its strange that CCC should view people who graduated a DMP in a better light then those who didnt not pay the debt in full plis interest (no disrespect intended, just fair is fair).
I did not get the impression that BofA like DMP and my feeling is that they would treat people in BK and CO better.
If I may ask, witch CCC opened your acbount after DMP?
If I could have only one account back from the DMP, it would be my 1979 JC Penny account. If I could have a new CC account from a company I had in DMP, it would be Citibank, since they were the most low key about it. BofA was the worst.