Here is my situation: Some background - I was unemployed for 18 months, paid all my cc's in time, had huge problems getting forbearance from my student loan people, but have been working, albeit at a much lower salary for the past 6 months. My scores are as follows: EXP - 672, Equifax - 627, TU - 636. No negatives on EXP. On Equifax, I have 5 student loan lates because my forbearance was approved retroactively ONLY after I got a new job. They would not give me a courtesy extension while I was unemployed. Even though they approved it retroactively , 5 of them show up as having 3 lates. On TU - the only negatives are the same 5 student loan lates. My utilization is very high because of the fact that I was living off of credit cards my last 6 months of unemployment. I have 5 credit cards - Bank One, B of America, Fleet,Chase and Capital One. 3 are at about 80 percent utilization. The other two are about 25 percent utilization. Credit limits vary from 6K to 15K. Total cc debt is 30K. Student loan debt is about 100K. So i guess my question is...even if I get those negatives deleted, will my credit score still be the same? Is it worth it to consider CL increases or opening a new cc account and transferring some balances? Thanks in advance!
I'd give my first born for those scores LOL! I don't know much about student loans, they are toughies from what I understand. Looks like your best shot is to get those 3 cards paid down, my understanding, when you get below 50% utilization, you'll see your scores move up. The lates will age to where they don't amount to many points, that is if you can' dispute them away!
I'm really pissed that my score has gone down over 150 points combined in the last year and half. Only thing that has changed is my balances are higher and those stupid lates were put on earlier this year and they are 60 and 90 day lates. I am wondering if I get a CL increase, whether that would help the utilization. Hmm... UGH!
use your credit and FICO makes you pay the consequences. as for the lates....well.....just dont pay late.
