Wanted to provide yet another update on my rebuild journey. This may be long, but for I know it's helpful to provide as much data as possible. Some of you may know, we have a contract on a house, so at the advice of my lender, I was told to clear certain things up on my report.
When I signed up for myFICO, my FICO8 scores were 548EQ / 558 TU / 568 EX. At the time of the mortgage application on February 27th, my mortgage scores were 523 EQ / 547TU/ 564EX.
Current Scores as of last week: 600 EQ / 601 TU / 602 EX. Mortgage scores as of March 23 are: 574 EQ / 602 TU / 571 EX.
When I came on these forums at the beginning of March, this was the status of my credit reports:
My current negatives are:
BB&T Charge-off from 2011: $1,411 - I settled this for $705.94 on March 28, and just waiting for it to update to the bureaus. UPDATE: According to CK, this account has been removed from my report between April 9-12th. Terms of settlement was just to report $0 balance, so this is surprising.
Fair Collections apartment collection from 2011: $1,668 - I settled this for $166.80, and is already updated on reports. Also the reason for the huge jump in mortgage scores.
Comenity Charge-off from Feb 2017: $751 - settled for $469, updated on both TU and EQ, but not EX. Filed a dispute to get this to update. UPDATE: Decided to pay in full. Now reporting on TU and EX as "Paid in full $0". Alert on CK today says it was removed from EQ between April 9-12. I did contact them asking for removal, so maybe this is it? *crosses fingers*
Ntl Credit Systems apartment collection from 2011: $4,181 - only on EX & set to fall off because of age on May 15 - so I don't plan to pay this. UPDATE: I am going to go ahead and settle this account. Now that I'm seeing all the "action" on my report, I've offered $1K to them and waiting on response. I'm hoping that since the debt is old, I can bargain.
Berks Collections - Medical Collection from 2011: $724 - only on EX & set to fall off because of age on May 22 - so I don't plan to pay this. UPDATE: Lender said because of changes with FHA, medical collections will be omitted from file.
Berks Collections - Medical Collection from 2011: $683 - only on EX & set to fall off because of age on Sept 16 - so I don't plan to pay this. UPDATE: Lender said because of changes with FHA, medical collections will be omitted from file.
Berks Collections - Medical Collection from 2011: $699 - only on EX & set to fall off because of age on Sept 22 - so I don't plan to pay this. UPDATE: Lender said because of changes with FHA, medical collections will be omitted from file.
Medical Collection $1,190 - on EQ - assigned to lawyer & tried contacting and receiving disconnected line; address is a PO Box and no response UPDATE: Lender said because of changes with FHA, medical collections will be omitted from file.
DeVry - Student Default - $1,300 from 2013 - applied for loan consolidation and debt will be absorbed through this process; funds from consolidation will disburse by next Friday UPDATE: Funds have disbursed and current servicer shows $0 balance. Just have to wait for changes on credit report. Even though my FAFSA shows default (these are Perkins loans), my Experian report is showing it as a collection, which is what University Accounting Services has the account marked at as well. Not sure how defaulted loans are supposed to report, but just an FYI.
My current positive accounts are:
CapOne, since Apr 2016 - $500 limit; March statement -$11.54; April payment $0 UPDATE: Next payment is due on April $16, will continue $0 balance
Dept of Education - $60K; currently in deferrment while going through consolidation UPDATE: Funds have disbursed and showing $0 balance with servicer. Waiting for update on credit reports
NFCU, since Mar 2017 - $1,000 limit; was told that first statement would be due April 4th, but have yet to receive a statement UPDATE: Reported on April 1st showing $627 balance. Monthly payment is due on May 1st, will have that show $5 balance.
Authorized User Account - on husband's CapOne, which he's had since 2013 w/100% on time payments; $2,500 limit - only reporting on Experian. UPDATE: Now on all three bureaus. Didn't pop up on TU and EQ until I used the card. Currently has a $546 balance, and will let this card be the one with the reporting balance for me.
Credit cards are showing an overal total of 29% utilization, but will definitely get that down. Lender is pulling credit again in June since we will be past the expiration from first application. Husbands mortgage scores at the time of application were 676/689/699.
