As I file away and get ready to put the year away in its own folder, I came across some credit reports and balance statements from early in the year. I thought it would be good to review my progress here and hopefully, have others join in, looking back at their year. My FICOs have gone from high 500s to high 600s since I started actively working on my credit in March of this year. I've knocked my CC debt from $19,000 down to under $1,000, making my utilization under 10%. I've reduced a total of 18 tax liens down to 10, all with release dates. Knocked 13 negative TLs down to 4 accurate ones that read "included in bankruptcy" and not late, settled, etc. I've removed all old addresses, odd names, etc. repeatedly until they don't appear on their own anymore. It's obviously premature to say for sure, but in my recent discussions w/mortgage brokers, I will probably qualify for a zero or 3% down mortgage at competitive rates. My goals for 04 include buying and moving in to a place I own, something I haven't done since my divorce in '90, getting all BK references removed from my CR, and continuing to pay for my kids' college tuition - not all, but a significant contribution to their so-called education. So, I raise a toast to creditnet and the folks who have helped me to figure out how to remove my head from my ass, financially speaking. I'm sure it's firmly planted in many other aspects of my life.
[giggle] Huge Congrats Dan. You've made excellent progress in a fairly short time. As you know, it's a process not an event. Just keep widdling away at it. Wishing you and yours the best year ever.
Thanks Butch, best to you, yours and everyone else you owe. <grin> It definitely is a process, this is just one aspect of the work in progress titled "my life - or whatever's left of it" BTW, just found my EXP FICO went from 713 to 721 and thanks to EXP's diligence in showing a two month old balance, there were no real changes to my CR. So just breathing for another month got me 8 points. So now I'm confident that by simply inhaling, coupled with symmetric exhaling, I'll be able to hit 750. In... out... in... out... And when they get the news sometime next summer that my utilization is under 5% (today, I should pick up another two points at least. Off to fight the battle - left foot... right foot... left foot...
Dan- I think it's a good idea to post our progress in a year's time, Daily monitoring doesn't give the perspective that a year does. Here's my year's progress (December to December): FICO went from mid/high 500's to mid/High 600's. I lost over 30 derogs off each credit bureau file by disputing, disputing and when disputing didn't work, by suing. Equifax even took off the bankruptcy!!! EXP and TU both still show 2 derogs that just won't go away (MBNA, a known stalwart) and the Bankruptcy. The good news is that by this time next year, the BK will have aged off the remaining two CRA's. A year ago I got turned down for a SECURED card. Now I have an unsecured Cap1 with a CL over $7500 (up from $500 a year ago) and just bought a brand new car at 6% (I took the $4000 rebate instead of the 0% financing). A year ago I knew nothing of my rights under FCRA and FDCPA. Now I have $4000 more in my IRA's by suing companies that violated my rights under FCRA and FDCPA and collecting. Now I jealously protect my rights and will not hesitate to sue to enforce those rights. A year ago I was fighting my credit fight alone and losing. Now I have hundreds of Cnetters as friends, allies and advisors (I chime in now and again with some of my own advice) and I am winning my credit fight. To those who are just starting, I guess the lesson is - it takes time but it can be done. I can't wait to see what my credit will look like this time next year.
