matthewscott

matthewscott - credit repair progress

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Hi,

I am new to this whole thing and am very overwhelmed. I am glad I found CIC. I am in the process of Chapter 7 (lawyers creating paperwork). Long story short...I tried to run a small business (retail) meanwhile my husband gets laid off for 7.5 months. Needless to say, I am miserable. One thing that I did do and didn't realize that I did was opened up most of the credit cards in my name only. Getting to the question here...

I am trying to prepare for this Bankruptcy filing and will be doing so individually. My question is, when my husband pulled his individual CR the four big accounts that I am delinquent on list on his CR as well, even though he is just a Authorized User. How do we go about getting those taken off so that at least one of us has decent credit?

Thanks for everyone's advise. I have been reading on this site for most of the day.

I wrote letters to the banks that were on my credit reports and asked them to remove their entry because I was only an authorized user. The accounts were up to date and being paid at the time. They might have been closed but at least they were in some sort of good standing.

Maybe he could just dispute them with the CRA's as the accounts aren't his. I think the CRA dispute is by far the safest. You don't want them to come after him instead of you.

I think you need to concentrate on what's at hand financially instead of what your (or his) report says. Once you're back in control and we'll help you get it cleared up and get you back on track.

Also, you also might try starting a new thread as maybe someone in the bankruptcy forum could help you more than me.

Good luck, you've got a tough road ahead.

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I've gotten three new accounts in the past couple of weeks.

1) Discover Open Road - 0% interest rate balance transfer. We need this to transfer a high balance from another card (~4200). $6000 limit.

2) HSBC - 0% on purchases and balance transfers for 1 year. $2000 limit. I applied for this one before the Discover. So we'll keep it around for emergencies and if we need to make any big purchases.

3) Dillard's American Express - GE Money Bank. $4000 limit. I guess we might as well get rewards for everyday purchases. I've been wanting this card for a while now.

:)

The two loans from the credit union have started reporting on two of the three bureaus. One is a personal loan and the other is a vehicle refinance.

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Hey,

It's been a while since I've updated this thread. I put in a request to get my US Bank secured card upgraded. I can't believe it has been a year since I've gotten it. I'll let you know how it turns out.

Here is my thread that I started last year about the card. It's a good choice if you're looking for a secured credit card.

http://debt-consolidation-credit-repair-service.com/forums/showthread.php?t=264287

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Hey,

It's been a while since I've updated this thread. I put in a request to get my US Bank secured card upgraded. I can't believe it has been a year since I've gotten it. I'll let you know how it turns out.

Here is my thread that I started last year about the card. It's a good choice if you're looking for a secured credit card.

http://debt-consolidation-credit-repair-service.com/forums/showthread.php?t=264287

Your sucess is GREAT!! All the stories like these make me wanna keep writing letters and looking at my credit reports to see what can be done. My credit repair has become sort of a weird hobby or obsession. xangelx

CONGRATS!!

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Your sucess is GREAT!! All the stories like these make me wanna keep writing letters and looking at my credit reports to see what can be done. My credit repair has become sort of a weird hobby or obsession. xangelx

CONGRATS!!

That is one of the main reasons that I have this thread. I hope what I've been able to do helps someone else. The other reason would be to just keep up for myself how far I've made it. I wish you the best.

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Guest BucFan

Matthew, I just finished reading through this thread and it really got me motivated.

Congrats on your success and thank you for sharing your journey.

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Matthew, I just finished reading through this thread and it really got me motivated.

Congrats on your success and thank you for sharing your journey.

Cool. Glad you got something out of it. I wish you luck. :D

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Don't count on US Bank too much......I've had the secured one since July 2005, and they wouldn't unsecure me becuase I wnet over my limit a few times in the year or so before i requested. But with your scores, they had better unsecure it!

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Hey,

It's been a while since I've updated this thread. I put in a request to get my US Bank secured card upgraded. I can't believe it has been a year since I've gotten it. I'll let you know how it turns out.

Here is my thread that I started last year about the card. It's a good choice if you're looking for a secured credit card.

http://debt-consolidation-credit-repair-service.com/forums/showthread.php?t=264287

Well, they did unsecure it for me. I got a new card and a new account number. I'm wondering exactly what that will do to my scores. I might loose a little bit of history there. It's shouldn't be a drastic change for me. Also, I wasn't able to find the new card listed on the website. I'm not sure what that is all about.

They didn't give me a CLI. I'm still at $600. I'm glad I made that extra deposit or I might still be stuck at $300. I'm kind of surprised they didn't give me a CLI. I'll try working on this with them to get it increased further.

They did pull EQ so that may be the reason.

I should get the check soon for the deposit soon.

I just wanted to follow up with everyone in case you're considering them as a bank for you. Overall, I think this was a good decision for me to get the card and carry it through the process of getting it unsecured. I feel they treated me very well. Please look into one of these banks for a secured account before you go into something subprime with bad fees, etc.

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There was a post about how many credit cards people had on the site. I thought it might be a good thing to add to my thread.

1) HSBC (got it for balance transfer but never used it since the limit was only 2k.)

2) Discover (balance transfer)

3) Dillard's American Express

4) Dillard's Store Card

5) Jared's

6) Kay's

7) JB Robinson

8) Walmart Discover

9) US Bank

10) Shell Store Card

11) Zale's

12) JC Penney

10 more cards that are closed.

1 Mortgage open

1 Mortgage closed when the loan got transferred

1 Personal loan

1 Auto loan closed

1 Auto loan open (refinanced to get lower rate)

1 Auto repo

4 student loans showing even though I only really have two. They got sold just like my mortgage.

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Hey Gang!

This is going to be an important and interesting post.

I got a new card a few months back with a $4100 limit. Well, I've been using the crap out of that card. I've PIF every month like clockwork but now I'm finding that I got a little bit ahead of myself.

The balance had gotten to over $2500+ and I had that bad feeling in my stomach. We've worked so hard to get this far out of debt to let another card pull us back down.

I felt really guilty and stupid for letting it get that high. But luckily, the balance is coming down. There really wasn't anything super expensive on there. It was just a larger than normal purchase and then all the little monthly expenses started adding up.

I've scheduled a big payment today and I should be able to do another one pretty soon. I'll get it back under control in a hurry. I think I need to just stop using it and let it cool off. It's not worth risking having those feelings come back let alone the financial ramifications.

I feel really lucky that this is going to be a lesson learned for me. I want to turn this around and learn from it instead of letting it get out of control. I hope that my thread here will inspire and educate you all. I'm still a newbie on this board but I've learned quite a bit.

Please learn from my situation and don't let yourself venture off the path. If you do then take control and get back on track, ASAP!

Let's learn from where we've been so we don't have to go back down those roads. Let's break the cycle.

:)

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yes - very wise words.

I know the feeling as well - for awhile I was up there with my utilization as well...now I'm back down to a more comfy level.

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Thank you for sharing. Your story is very inspirational. I am very new to credit repair and have read more than actually followed through. I did start my own financial diary; however, have not decided on a clear plan of action.

Congratulations on your success.

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Here is a great thread.

http://debt-consolidation-credit-repair-service.com/forums/showthread.php?p=989040

Here is my plan for 2009.

1) Pay off last CC. It was a balance that we kept transferring while we were paying down a large amount of debt. Now that the big part of our debt is gone we can tackle this last cc.

2) Pay off personal loan.

3) Pay off student loans.

4) Save.

5) Eventually settle with GMAC.

If I can do at least half of this in 2009, I'll be very happy.

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Here's my update.

1) The $5k on the Discover got increased a little because we over did it a little on the balance transfers. Now, I believe it is more like $6k over three different cards all at 0% for one year. We got everything transferred in March.

After applying like crazy and not having the best of results, I applied at US Bank. They are the ones that I got my secured card from that went unsecured. It still has a $600 limit. They opened up a brand new card and the limit is 10k and the interest rate is variable but right now it is 7% after the 0% balance transfer goes away. They are unbelievable.

At the same time, but before I got approved for the US Bank card, my wife got a HSBC card and I got one as well. Mine has a 2k limit and hers is 15k.

So from being paranoid about not getting the Discover card transferred we ended up with more credit than ever. I wish we could have just gotten one card and been done. Needless to say, those cards are locked up in the safe.

2) The card that I have been using for around a year for rewards has announced their rewards program is changing in a couple of months. I am taking this opportunity and going back to using my checking account. Even though I'm missing out on the rewards, I think I'll manage my money better and come out ahead.

I've signed up for another savings account so I could get overdraft protection and I got Keep the Change program from Bank of America. Hopefully, I can control my spending a little better and even manage to save something. :)

3) The personal loan from the credit union is paid off. I am taking that payment and adding the extra money that I'm getting from lower federal taxes and putting that into the credit union. So I'm saving a total of $90 a week in the credit union alone. Now if I can just stay away from there and not break into the piggy bank. ;)

4) I'm going to do my best to keep the money that I was paying on debt in either my saving accounts or go ahead and start paying down the zero percent cards.

That's about all, at least the major stuff. :p

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New Fico Scores:

Transunion: 757

Equifax: 698

Experian: ???

I'm no longer with Bank of America. We've combined our accounts.

The lingering credit card debt and GMAC are paid in full.

The only debt we have left is vacation bills, truck, and mortgage.

Now, we need to start saving for an emergency fund.

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New Fico Scores:

Transunion: 757

Equifax: 708

Experian: ???

"The only debt we have left is vacation bills, truck, and mortgage."

I opened a Carnival credit card and use that for my everyday expenses. I pay it off every month. We still have the truck and mortgage debt. Also, still have a tiny bit of student loans. We're doing great debt wise.

"Now, we need to start saving for an emergency fund."

We've been saving some now. Not as much as I had hoped but at least there is a little cushion there now in savings.

Not much has changed.

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