All debts paid - now to repair the mess
Date: Thu, 06/26/2008 - 19:27
Credit Score: 550 (Not moving yet)
I've been carrying debt for a long time now and I feel totally relieved to have finally paid things off. I used a debt consolidation company a few years ago and things were going great until I got a little behind. It got really bad. The phone calls and mail were hard to handle. I've felt worthless for years. I never had to borrow money from friends or family though it got really close a number of times. I considered the Pay Day Loan things a few times as well. Glad I never actually walked in there!
In the back of mind, I knew of a windfall that was going to come my way one of these days. It was a retirement plan (defined benefit) that my employer was planning to do away with. I never wanted to use this money to pay off debt but, it got to where this worked out great. After taxes/penalties (lump sum) I had just enough to pay everything off and still keep a modest balance in my account. I've opened two small credit cards with Orchard and Capital One and I've begun making on-time payments. I've disputed probably 15 things on my Credit Report through TrueCredit and many of them have been updated already.
I was so happy when I got the money that I IMMEDIATELY called up all my creditors and told them I wanted to pay. Most everything was settled with one or two phone calls. I should've tried to "pay for delete" but, I was so excited I wanted to pay these guys off and didn't stop to think a whole lot. After reading a lot of stories on here, I feel really lucky to have paid off everything. Maybe in 40 years when I retire, I will miss that money I could've invested. Hey, it kept me alive now so I think it went to better use.
Question: (a common one)
Assuming I do everything perfect for the next year, where would you expect my Credit Score to be?
That's very tough to tell, how much your credit score will impro
That's very tough to tell, how much your credit score will improve. It completely depends on the particular situation you are in. But it is for sure that your credit score will definitely improve.
Hope other members can help you more.
I've seen in a number of threads that it's really hard to tell w
I've seen in a number of threads that it's really hard to tell what it "could or should" be in a year. I'm just kind of curious if do everything right and maybe pick up another good line of credit in that time............ could it be in the mid 600's? I'd love to be at 650 and steadily climbing!
I would love to buy my first home in a year and I do know that FHA cares more about your actual report than your score. That's good because I have Debt/Income Ratio is 0% and I plan to keep as low as possible.
WHAT?
Okay, I have a very odd question. I checked out this thread while I wasn't logged in under my screenname and the following post showed up at the end. When I login, this post doesn't show up. By the way, this post seems ultra shady anyways. Interest rate of 0.2%............. am I missing something? (Try seeing if this shows up when you're not logged in.)
PHANTOM POST FROM SOME GUEST:
"Hi.I am Susan White........."
Edited by Uncle Wulf.
Hi Parrotttony - The 'Susan White' post is spam, posted by a
Hi Parrotttony -
The 'Susan White' post is spam, posted by a bot [a software program that makes spam posts to boards like this]. It's promoting an advance-fee loan fraud. If you happen to find one of these, or similar, kindly report it to us here. We'll get rid of it as quickly as possible.
I hope you don't mind, but I've removed your recounting of the spam post rom your post above. That's to keep it out of the search engines. Sorry about that. It's in no way a slap at anything you did or didn't do.
Parrot, you must have checked your thread after the bot posted a
Parrot, you must have checked your thread after the bot posted and before the moderators deleted it as spam. Then when you logged in to check again, the post had been deleted. There were tons of those posts all over the boards the past couple of days, and the moderators have been busy trying to delete them all!
