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Guest · Posted: Wed Jun 25, 2008 10:26 am Subject: Wow I about fell over...............

I checked my credit score about 4 months ago and my score was getting close to 600, I filed bankruptcy about 4 years ago but have established credit ever since. I have had all my bills paid, never any lates for 3 and 1/2 years. Now I go and pay one of my credit cards on-line and it asks if I want to know what my credit score is for free-my credit card company giving this too me from their website as a valued customer. It said 425, what nothing has changed on my credit report in 4 months. The only thing is that my balances on my credit cards are high but they have been that way before then. I am making more payments not just the minimum due. Do you think this could be possible or don't really go by that site go by the fico site?

Posted: Wed Jun 25, 2008 10:56 am Subject:

That's a pretty big discrepancy. Have you checked your actual credit report recently? Identity theft is always a possibility these days!

Posted: Wed Jun 25, 2008 11:00 am Subject:

The guest was me. I just checked Transunion today nothing new.

Posted: Sat Jun 28, 2008 10:19 am Subject:

Was that your FICO from MyFICO or a FAKO from Truecredit? There's always going to ba a variance b/w the 2 but 175 points I admit is a bit extreme. Just an FYI, as you approach that 10 year mark and your BK drops from your reports, you will likely see another big drop because right now, your FICO compares you to other consumers with BK's.

Posted: Tue Jul 08, 2008 11:29 am Subject:

nascar-It was from Truecredit. I just got my experian report yesterday and got my FICO score and it is 545. Next May 2009 my bankruptcy is suppose to come off of my report. Will the other accounts that were listed as charged off-because they were included in the bankruptcy are also to come off. I am trying to pay off/down my credit cards so they are not high balances. So are you saying that my score might have dropped or will drop since I am getting closer to my BK being 10 years? Will it go up when it comes off?

Posted: Tue Jul 08, 2008 11:32 am Subject:

Also I know I have a lot of open accounts all current and never have missed one payment and never late but they may be looking at this as I have too many and they are high balances. What is my best bet pay off some of them and close them(the ones that are older) or just pay them off or pay them down and keep them open.

Posted: Tue Jul 08, 2008 11:35 am Subject:

Nascar, I also have to tell you I have 2 BKs on my report. One that is almost 10 years and 1 that was 4 years ago. I know that is also a factor in that my score is low, I feel pretty cruddy about my report but I really have been trying so hard to clean it up and never get back into this situation again.

Thomas Hanks · Posted: Tue Jul 08, 2008 11:52 am Subject: Legitimate Loan Offer

Spam removed Cajunbulldog

Posted: Tue Jul 08, 2008 12:04 pm Subject: reply

mr hanks,you are a SCAM!!!!!!!!!!!first,you are in the UK,second
you have a yahoo address.no legit loan has a yahoo address.
if you think for a second this will fly here you are as stupid as
you are a scammer.

Posted: Tue Jul 08, 2008 2:46 pm Subject:

Just be patient and keep paying your bills and try to get those balances down really low and that should help your FICO score. I wouldn't necessarily close any accounts out as that can look unfavorable upon for whatever reason there is...I read that somewhere. Good luck to you

Posted: Tue Jul 08, 2008 3:10 pm Subject:

Part of your credit score looks at how much outstanding debt you have in relationship to how much credit you have available. So if you were to pay off some balances but not close the accounts, that would lower the percentage of available debt that you are using, which should help your score.

Posted: Wed Jul 09, 2008 4:16 am Subject:

Thanks Ladybug and Alias. Ladybug hows everything going? PM if you want.

Posted: Wed Jul 09, 2008 4:30 am Subject:

Next May 2009 my bankruptcy is suppose to come off of my report. Will the other accounts that were listed as charged off-because they were included in the bankruptcy are also to come off.

I'll have to check with my BK guru but I beleive they should fall off at the same time the BK that they were included in drops. I'll get back to you with a firm answer

Nascar, I also have to tell you I have 2 BKs on my report. One that is almost 10 years and 1 that was 4 years ago. I know that is also a factor in that my score is low, I feel pretty cruddy about my report but I really have been trying so hard to clean it up and never get back into this situation again.

That second BK will keep you in that same FICO grouping until the 10 years has elapsed. Not sure if having 2 BK's makes a difference though.

Posted: Wed Jul 09, 2008 4:36 am Subject:

Well one BK will fall off next May. Will my score go up by then. I do know I have to pay my credit cards down.

Posted: Wed Jul 09, 2008 4:37 am Subject:

Sorry Nascar, for some reason I didn't see the top of your answer.

Posted: Wed Jul 09, 2008 4:51 am Subject:

Also I know I have a lot of open accounts all current and never have missed one payment and never late but they may be looking at this as I have too many and they are high balances. What is my best bet pay off some of them and close them(the ones that are older) or just pay them off or pay them down and keep them open.

Are you still using those cards? If so, STOP, take all credit cards, insert into zip lock freezer bag, fill with water and put them on ice. As far as paying them off I can only tell you what worked for me. Might not be the best way and I'm sure others will chime in. I listed all the accounts and ranked them in order of balance from high to low, then by apr. Then I determined how much income I had every month I was using to pay the revolving debt. After that, I tried to double the minimum payment on all accounts AND an additional $50-80 to the account with the highest balance. Once I paid off that card, I took the double minimum + the extra $50-80 and started on the next card and so on and so on but always rolling the double minimum from all paid off cards + the extra I was paying. I did end up paying a bit more in finance charges on the higher APR cards since I ranked by balance but once I got down to the lowest balance cards they were paid off in 90 days. That's what worked for me, others will probably throw in their method. Oh and BTW, don't thaw out the cards until you're done and when you do, make small purchases and PIF every month or you'll be right back where you started. YMMV

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Wow I about fell over...............

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