A big thank you to you all!

Isn't it feeling nice? Go and enjoy. You deserve it. One small piece of advice, don't be tempted of using those flashy cards, unnecessarily. Always be aware of how far you can stretch and then spend. You will always be in control.

Tempted? Not at all. Just tools to get me to at least a 750 fico. I'm almost obsessive compulsive when it comes to my cards it's not even funny. I absolutely will not use over 30% of the limit (keeping the utilization low).

That's a very good move. As long as you are aware of using it properly, debts will be miles away from you. And yes, it's a very good source to move your scores higher. It seems that you will maintain the cards very nicely. Good luck!!

Congratulations! I hope someday to be in the same position.

Congrats and I too can vouch for how painful credit card debt can be. I pay my off weekly and normally poor company losing money mailing me statements.Poor creatures don't hardly get anything out of me & I get all the reporting I can squeeze out of them.

That's the smart way to deal with credit cards. Congrats!

Quote:

Well it's been about a year since I last posted so I figured I would come back and give an update to my progress so the people new to credit repair can see there is a light at the end of the tunnel.

Recap:

When I first started my repair I had (I think) around a 461 FICO. After about a year, I had increased it enough to qualify for a couple of prime-ish credit cards with average limits.

Currently I belong to 5 credit unions (I can't stress enough the benefits of a good credit union), two cards with Citi, two with Chase, a few cards with lesser known but extremely prime banks, and five or so store cards. All with hefty limits.
My FICOs are averaged around 700+.

As I stated in my post from last year, just because one has credit cards, does not mean one has to use all the available credit. I am at around 3% utilization straight across the board.

So for those out there feeling discouraged or feeling that the cause is hopeless, take heart and know you WILL win your personal credit fight.

Good luck to all and if I can answer any questions, please feel free to ask.

that is awesome, thanks for the update, congrats on your hard work!

That is great. I am in the process myself of cleaning up a nightmare. What I find really funny is that one of the creditcard banks that I could not pay and settled for about 30% of what I owed now sends me great credit card offers at least 3 times a week.

There is a light at the end of the tunnel and anyone at the beginning of the tunnel will get to the end if you put your mind to it.

Thanks for the update.

I hope to see the light !!! Thanks for letting us all know it's possible!

I'm currently cleaning up my own mess (which I alone created by not keeping up on credit card payments during college). I was horrified when I checked my credit score a few months ago and found an average FICO score of 527.

In January I received a full-time position prior to finishing undergrad school. I immediately began paying off and settling my outstanding debts. I had two GEMB cards that were charged off as collections to LVNV. I scheduled settlement payments with LVNV and within three months had the debts resolved and the accounts were marked as Settled for Less than Full Amount. Once the fiscal year ended on June 30, I figured there'd be the possibility that LVNV purged their records of settled accounts. With this wishful thinking I filed disputes with the CRAs over the validity of these Paid collections accounts. Within less than the allowed 30 - 45 days, both collections accounts were removed from my credit report.

In June I reached a written agreement with Commonwealth Financial over an outstanding Citibank credit card debt. At a 40% discount, I am making 3 monthly payments of $400. After the final payment in September this account will be marked as Paid in Full with the CRAs.

Also, I have a charged off Capital One card that was purchased by scumsuckers Hayt, Hayt & and Landau. I've agreed to pay in full (the original debt of $1100) by the end of August, and my credit report will be updated to show the same.

In addition, I had a derogatory medical bill that was paid in full back in May, which I'm waiting to be reflected on my credit report. Now the only outstanding debt I have to settle is $540 with Verizon. I sent out out a letter request info on the current ownership of this debt so that it can be settled.

Once Commonwealth Financial, HHL, and Verizon are paid in full, I'll likely play the same dispute game to try and get these accounts removed completely. So far my credit score has jumped to 575 with only having settled and removed LVNV.

My next step will then be to consolidate my 15 seperate student stafford loans before my deferment ends in November. Hopefully this will have a big impact on my FICO. I'm also considering a secured credit card through Bank of America to help build some smart credit along with my student loan payments.

It's nice to know, and to hear stories like denizen's that prove there is light at the end of the tunnel. I just hope for the sake of purchasing a home down the road, that I can see a 700+ FICO in about two year's time.

glad to hear that you are making progress. It feels great, doesn't it?!

It certainly is, like a huge weight lifted from your shoulders. I take 100% responsibility for the situation I created and only I can clean that mess up, but it's nice to know that there is a community out there that you can turn to for advice.