Time to get back at it!

Alright guys, after a job loss and getting back onto my feet. I found this forum again and ready to get back to work. Just to give a quick background of my situation- when i was 18 (in 06) i had a 720 credit score and ‘fell in love’ and ruined it all. in Early 07 my credit score was 380ish. I found this forum and in one year i managed to turn it around to a mid 450 with a BUNCH of horrible stuff still on my credit report. I than lost my job with the economy, found a new one, picked up a part time job and started to pay bills on time for the last few months and managed to save up a great deal of money too (ramen noodles!). 

 

I have saved up about 10 grand, i checked my credit and before i start to pay anything, GW anything, PFD anything. I have a score of 519. Which frankly, sort of amazed me. When i was jobless i had a couple of old credit cards back when i was 18 go into collections so that dinged me and I thought i was going to have to start from the bottom again. So with my 10k savings and about 15k in debt, i am hoping i can negotiate, gw, and work my arse off and at the end of 2010 have a credit score of 600-650. I would like to have a score of about 620. I grew up in a real estate investment family, and one day would like to own my own little house. Fortunately for me, you can buy a house as cheap as $30,000 for a simple 1 bedroom, 1 bath, with 1 stall garage in my area.  

 

I do have a series of judgement on my record, about 75% are paid, and they are all older than 2 years. And all my collections besides 2 are older than 2 years. Which i read if they are over a couple of years old it doesn’t really affect your credit at all. I am sure hoping i wont have to wait 7.5 years for these suckers to fall off for i can move on and buy a house in the next year or so and have a new vehicle to drive. The income is there, but not able to be budgeted and used for anything. Which in my case right now, has led me to save and now start fixing my credit. 

 

Right now the only open line I have is a orchard bank credit card with a 200 secured balance that was at a 50-100% UTL right till i paid the sucker all off two months ago and threw it in my sock drawer.  Always had the money to do it, just never did it. I’ve cut back on everything that does cost me money (bars, clubs, ect.). My friends and family are motivating me big time. Friends are getting married, buying houses, ect. My parents are still expanding their real estate business- and that is motivating me to fix my credit profile for I to can get involved a bit more and SOON own my own house. 

 

Cliff Notes:
Score in 06 (before love): 720
Score in 07 (after): 380ish
Score Today: 519 (ex)
Score at the end of ’10: 620

 

 

I will update weekly, monthly with what I am doing to make this happen and use this thread as a motivator as well. I found this site to be fun, and saving and paying off debt as a fun ‘game’ back when i was at it before.

 

 

Casey