5: Credit Repairing BAMN

There was a time every time I apply for credit – I walked away with what I wanted.  Over the past 2 years, it’s taking some pretty big hits.  I had fallen into the hole I worked so hard to stay away from, Bad Credit Abyss.  How long could I keep ignoring these things? Seven years if I wanted to be technical but I wanted to do things, NOW, and that required me taking the necessary actions to correct these wounds – By Any Means Necessary.

The year started off right with me acknowledging the need to make on-time payments and reduce late fees.  I had been following The Budgetnista on Instagram for some time.  The thing that pulled me into her was the things she was sharing with us were not unfamiliar to me.  I had just stopped doing them and needed to hear some of the truths I had been ignoring.  She offered a free 21-Day challenge on her Facebook site.  This allowed me to take mental and physical steps toward financial freedom.  I was on the path with the daily challenges.  Then a little extra dose of life happened and it seemed like my life just couldn’t get back on track.  I tried to get pre-approved for a mortgage and was denied.  Had my score been damaged that much.  Apparently, yes.

Credit Karma and the rejection letter from Quicken Loans informed me that my current score was 576. Disgusting! I had to start getting things fixed.  The amount of outstanding consumer debt I had was even more disgusting.

Who has this minimal type of debt holding them back? This was unreal! While clearing my voicemail, I received a message from FHA to discuss why I had been turned down for a mortgage. Of course, I didn’t get that nice lady on the machine and I had reached Lexington Law Firm. They told me what they were offering and I told them my main goal. I listened to how they could help me and signed up.  The very 1st I was a member my score went down 30-40 points. As I looked at the results of my actions, I thought, this certainly isn’t what I had expected. I was having remorse.

Within the 1st month, I had been qualified for a credit card and began to feel more comfortable about the service. They had removed some things from the reports and were very good about keeping me informed with regard to what they were doing. I know that I’m fully capable of repairing my credit on my own – I chose to pay someone else to do it for me. The process is slow and there is no obligation to stay with the program if you don’t feel it’s right. 

I’ve been in the program for 3 months. At the same time, I have placed my student loans in rehab and making on-time payments. My score has yoyoed bringing me anxiety and joy.  Credit Karma updates their scores every Saturday. One week the scores didn’t move but I had an awesome note attached to my profile.

Outside of my student loans, there was nothing that could hold me back. Now, my score hasn’t rocketed into the 700 range or even 600. It’s still hovering around 550 but I’m remaining positive.  My goal is to tiptoe into the 700 club by the end of 2017. Right now, I’m just happy I took the steps to take control of my financial reputation back.

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