Kudos to all CBers for their wisdom along the way!

[nibanike]

Truly, this is another CB success story. In August '04, I joined CB, with scores in the upper 500s-lower 600s. I only had 3 junky, low-limit, only-high-balance reporting, not-actual-limit reporting Capital One cards. Little did I know how much Cap1's policies were hurting my scores. I looked like I was constantly maxed out, when I'd actually learned to be somewhat responsible about credit. I was paying very high interest/annual fees/monthly surcharges on all of my credit cards, that, thankfully, all had a solid payment history. (Closing 2 of them on 6/14/05 and sockdrawering the oldest one for a bit longer.)

 

I was also dealing with the notorious CAMCO (which has now been shut down!--I know picantel from CB was cheering the loudest when that happened) who had purchased some chargeoff credit accounts that were 15-20 years old (well past the SOL) and numerous obsolete accounts reporting that were sticking like super glue. I had a few medical collections from a time where I'd been without health insurance, but those dropped off easily thanks to HIPAA letters, and have paid those off.) I also had $40,000+ in student loans. Some were in the rehabilitation process when I came to CB, and some were still in default.

 

In less than two months, I had clean EX and EQ reports, and only the CAMCO notation left on TU. What happened? I read posts by the hour, sometimes sleeping just a few hours a night. As I read, I began to have confidence in the advice offered by others, referred to the letters database, asked for questions and advice, learned to stay off the phone (thanks pryan for teaching me to stay off the phone, which in turn lowered my stress level when medical bill collectors tried to call) and learned soooo much along the way.

 

By Nov. '04, I'd secured Union Plus MC, Corvette VISA, DCU VISA and Patelco VISA cards and had increased my credit availability tenfold, which of course lowered my overall utilization and helped to raise my scores. I let those accounts age for the past six months and am now in the process of buying my first home. Honestly, a year ago, I never thought it would be possible, but look at my scores now!

 

I'm a single parent who earns less than half of the area median income for the area I live in (median=$74,000 for a household of 4 here), and I'm still able to buy my first home in one of the top 100 school districts in the country! The only money I've put down is $1,000 in earnest money and my scores have allowed me to be able to roll the closing costs of $5,000 into the mortgage and still have the appraisal come back in an acceptable range.

 

In 18 days, I will have achieved the American dream, sans the white picket fence. My kids will continue to get an excellent education, and I'll build equity Thanks to the credit I've acquired, will have the cushion of new cards in case I ever have an emergency such as needing a new furnace, or a hot water heater. While I'd love to use the cards to buy new furniture, I've learned not to live beyond my means.

 

It seems surreal that I went from atrocious credit to great credit in 10 months and will have the pleasure of decorating my own home! While I've been haunting the Mortgage Boards more than the Credit Boards lately, I'll definitely stay active, as I now volunteer teach a 12-hour class, Building Credit 101 (free classes, open to all) in my community, and have committed to teaching the every month for the next year. I continue to learn from others experiences every day, and thank all of you for the time, effort and money you spend on the boards. On that note, I think a donation to CB will be in order VERY soon.

 

While we've all heard it before, CB rocks!

[pryan67]

WOOHOO!!!! Awesome job, and congratulations

[TooMuchTooFast]

CONGRATS!!! To those who ask what is so important about making sure our CR's are accurate, the OP has the answer.

[james]

CONGRATS!

[BrwnEyedGirl]

Truly, this is another CB success story. In August '04, I joined CB, with scores in the upper 500s-lower 600s. I only had 3 junky, low-limit, only-high-balance reporting, not-actual-limit reporting Capital One cards. Little did I know how much Cap1's policies were hurting my scores.  I looked like I was constantly maxed out, when I'd actually learned to be somewhat responsible about credit.  I was paying very high interest/annual fees/monthly surcharges on all of my credit cards, that, thankfully, all had a solid payment history. (Closing 2 of them on 6/14/05 and sockdrawering the oldest one for a bit longer.)

 

I was also dealing with the notorious CAMCO (which has now been shut down!--I know picantel from CB was cheering the loudest when that happened) who had purchased some chargeoff credit accounts that were 15-20 years old (well past the SOL) and numerous obsolete accounts reporting that were sticking like super glue.  I had a few medical collections from a time where I'd been without health insurance, but those dropped off easily thanks to HIPAA letters, and have paid those off.)  I also had $40,000+ in student loans. Some were in the rehabilitation process when I came to CB, and some were still in default.

 

In less than two months, I had clean EX and EQ reports, and only the CAMCO notation left on TU.  What happened?  I read posts by the hour, sometimes sleeping just a few hours a night.  As I read, I began to have confidence in the advice offered by others, referred to the letters database, asked for questions and advice, learned to stay off the phone (thanks pryan for teaching me to stay off the phone, which in turn lowered my stress level when medical bill collectors tried to call) and learned soooo much along the way.

 

By Nov. '04, I'd secured Union Plus MC, Corvette VISA, DCU VISA and Patelco VISA cards and had increased my credit availability tenfold, which of course lowered my overall utilization and helped to raise my scores.  I let those accounts age for the past six months and am now in the process of buying my first home.    Honestly, a year ago, I never thought it would be possible, but look at my scores now! 

 

I'm a single parent who earns less than half of the area median income for the area I live in (median=$74,000 for a household of 4 here), and I'm still able to buy my first home in one of the top 100 school districts in the country!  The only money I've put down is $1,000 in earnest money and my scores have allowed me to be able to roll the closing costs of $5,000 into the mortgage    and still have the appraisal come back in an acceptable range. 

 

In 18 days, I will have achieved the American dream, sans the white picket fence.   My kids will continue to get an excellent education, and I'll build equity  Thanks to the credit I've acquired, will have the cushion of new cards in case I ever have an emergency such as needing a new furnace, or a hot water heater.  While I'd love to use the cards to buy new furniture, I've learned not to live beyond my means.

 

It seems surreal that I went from atrocious credit to great credit in 10 months and will have the pleasure of decorating my own home!  While I've been haunting the Mortgage Boards more than the Credit Boards lately, I'll definitely stay active, as I now volunteer teach a 12-hour class, Building Credit 101 (free classes, open to all) in my community, and have committed to teaching the every month for the next year.  I continue to learn from others experiences every day, and thank all of you for the time, effort and money you spend on the boards.  On that note, I think a donation to CB will be in order VERY soon.

 

While we've all heard it before, CB rocks!

<{POST_SNAPBACK}>

 

 

I am so happy for you. Congrats. You are the American dream.

 

[Kona]

A super success story! Thanks for sharing; great motivation for others!

[chickwithdebt]

Congrats!

[ncacc1]

That is an awesome story!

[nearly_there]

Inspiring.

[caissonqueen]

Congrats and way to go!

[xpamarshall]

Great Job and kudos for continuing to spread the good word through teaching!!

 

Enjoy your new home!!

 

Kel

[Chance]

Impressive......good luck with your new home!

[breeze]

What an inspiring story!! I think the free credit class is wonderful - I hope it catches on and more people do it. Once you get this under your belt, you almost can't help trying to tell others, it makes such a difference in your life!!

[nutty]

WOW WOW WOW u just made my day. im not givin up im jus startin.....

[TxQuiltGirl]

And I was here to witness MOST of that!! YAY Nibanike!! You are such an inspiration.

[Guest picantel]

If I had a camco inquiry on my credit report I would send in a dispute letter along with the FTC story and a copy of the FTC's lawsuit against them and would ask that it be deleted or at least put in dispute as required by the FTC. I would do this certified mail return receipt requested. I would then wait for TU to send me a ridiculous letter stating they do not do inquiry disputes. I would then casually stroll down to my courthouse and sue them for violating the FCRA. Of course, that is just me.

[nibanike]

Thankfully, my CAMCO notations are L-O-N-G gone! I have totally clean reports across the board. :-)

[43texan]

Its great to hear storys like yours! I have started slowly but next week am ready to go into full gear and get all my baddies cleared up. Im so happy for you and your family, what a great mommy you are!!!!!!!

[urbanflower]

wow!! great story...Congrats!!

[nibanike]

Update from my mini-spree online after closing on the house--

Juniper Carnival MC--->$5,000

Home Depot--->$1,001 (odd amount)

Circuit City--->$3,000 (not sure yet whether they gave me the store card or the VISA)

Furniture Outlets USA (Midwest)--->$6,500 (grumbling that it's through CitiFinancial, but there was 18 mo. no interest, and I could care less if I close the account once it's paid off)

Best Buy--->$2,200

CitiAAdvantage--->??? pending verification of original phone bill, last bank statement and last pay stub. When I applied online, they asked me to select "features" that I would like associated with the account, and I'm told that between that and the request for additional info due to the new address is a good sign. I sent the info in today and should hear in a few weeks.

[ANGELWEEZY]

After reading your story, all I can say is WOW, what an ispiratation you are to me. When and if I ever start to get down in the dumps about how slow things may or may not be going with my cleaning up our credit reports, you can bet, I will be back here to re-read your story. It definately brought a big smile to my face. Thanks, Angelweezy

[keli449]

Congrats,you give me hope. Enjoy your new house!

[workNprogress]

Thanks for sharing your story (made me cry)

[kimm]

Thanks for sharing. So inspirational.

[SmartAlec]

So happy for you

Thanks for sharing!