Bradlee

Hello all, Yesterday I checked my Fico scores for the first time in about 3 years. Needless to say, I was so upset at how low my scores are. My Equifax score is a pitiful 505, and my Transunion isn't much better - it's 541... I have had a lot of personal problems the last 3 years, and my life spiraled out of control. I'm finally in a place where I want to start rebuilding my life and my credit, but I have no idea how I will be able to get to my goal of 620. I am 26, and wish that I could do things over again. Has anyone been in my shoes? How long did it take to rebuild your credit? Any help is appreciated. -Brad

Well... my minimum with Discover is $298, so I have decided that I am going to spend the next 4 or 5 paychecks paying them, before moving on to Chase. I hope that I can have the determination that you did!

Hi Rel! I will make sure that I don't get any more charge offs. But DiscoverCard calls me about 14 times per day. I just want to pay them so they stop calling me!

All good advice but also, pay the one off with the highest interest rate first then progress to the lowest one, and keep making the minimum payments on all of them obviously. Paying them off in this order will save you money from finance charges and interest. The other way to do it is called a "debt snowball" where you pay off the lowest balance first, then apply the payment you were paying towards that one to the 2nd lowest amount, and the amount you're paying off gets progressively higher. I prefer the first method. Hi Kip! I like both methods! But I think the method that is better for me is the 'debt snowball' - - - I did grow up in Northern Utah - and I love the snow lol

Hi Nate! I have actually read some very scary stories on this site... It's good to learn from other people's mistakes. Thanks for the nice welcome

Hi Nekom, I will take your advise and make sure that my other accounts don't get Charged off. I have been formulating a plan... but my problem is sticking to it! ugh, I can't break any more promises to myself. It's just hard when I am in the store and see something that I MUST HAVE! The good news is that I haven't used one credit card in 2009... that is because all my credit cards don't work anymore - and yah know what... that's actually a GOOD THING

Hi MBA, The cards are still open EXCEPT the WellsFargo Visa for 5K - that has been charged off. I am scared to call the creditors, but I know it's something I'll have to do eventually - ugh I have no idea what my interest rates are. I'm sure they are all above 27% I am going to pay Discover Card $500 this Friday... Then I will only owe them 1500 I am trying to stay positive

I wish I could go back in time and tell myself that the only score that matters in life is my credit score. I have made HUGE mistakes ya'll. I am really scared. I am 24 years old, and have the following debts Discover: 2K Chase: 2K HP Account: 2K Wells Loan: 5K Wells Visa that was Charged off: 5K I don't even know what a charge off is. Do I still owe them money? Or will I have to pay someone else? I am too scared to look at my fico scores, but I can easily guess they are under 500... I don't know what to do. I feel like I will be paying off this debt forever. Please give me some advise. *I'm new here, btw... this is my first post.