Something good

iVillage Member
Registered: 12-23-2008
Something good
13
Sun, 01-03-2010 - 4:01pm

If you all only knew what I have been through the past 5 years (almost).
Long story short my credit is recovering slowly. I have struggled hard to get here but am proud of that because I have done it all myself.

Anyways I found an official looking envelope in the mail. One of the credit cards (I am $53.00 away from paying off) has increased my credit limit !!!
This is HUGE because it shows me my hard work is paying off.
My credit score is improving.

I check my credit every year (annualcreditreport.com is the real free one). It's paying off finally !!!

Next month I should have 2 cards paid off

Just remember there is hope. I cried and stressed and cried from the stress and now that I am through what I went through it's taught me so much and no more crying!!!

Thanks for reading
xoxo
Shannon

XoXo Shannon 2010 YTD Flake $349.94 2010 YTD Flake to Savings $193.33

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iVillage Member
Registered: 08-04-2008
Sun, 01-03-2010 - 4:16pm

Shannon -


Wow it sounds like you have really given this your all and now see light at the end of the tunnel.




iVillage Member
Registered: 11-14-2008
Sun, 01-03-2010 - 5:01pm

Congrats!

I personally know this is not an easy struggle. Often the women here(or Men) are harder on themselves than anyone and it is completely draining.

So good for you, I hope you treated yourself because this is a major accomplishment!

We need to hear stories like this because it gives us hope!


iVillage Member
Registered: 12-23-2008
Sun, 01-03-2010 - 5:20pm

I know it is very weird how credit scores work isn't it ?
I thought just paying them on time would cause them to go up but it doesn't. Apparently its based on income - available balance on the cards, paying on time and so on.

I did not consolidate or file BK. When I went through my divorce my ex left all the debt to just pile up. Eventually a car we had bought was repossessed and our home went into foreclosure (a home he was living in, I moved out).

At that time I had a part part time job (3-3/4 hours during the school year).
I worked for the school district while my kids were at school and needed to be home for them.
On the side
I did get a notary license to help with getting extra money. This gave me about $1000 a month that I desperately needed. But I had to work hard to get signings and I hated that and I had to drive far away sometimes late at night. I also worked for a cleaning service on the weekends to make money (when the kids were with their dad) which eventually turned into a job cleaning for an elderly person weekly. This worked so I could clean for her the days the kids were with dad. It was a win-win for us both but, eventually she moved and I couldn't clean for her.

After I got settled and arranged for after school care for my youngest I could take more hours at work. I began subbing for extra hours and I would work almost 8 hours but I needed benefits so applied for every 8 hour job I qualified for.
The additional child care was an expense but I knew eventually it would stop since he is now in middle school !!! (again the time thing is helpful believe it or not)
Eventually in 2007 (after 2 1/2 years of applying) I got an 8 hour job with benefits.
Meanwhile I had to tackle the debt that was joint from the divorce. As many of you may know, you can't just call and ask them to remove people from a card.

I called a lot of the creditors and asked them if they had a hardship payment plan. Doing that closes the credit card for future purchases while you are on the hardship. That helped alot, it lowered some interest rates but I also had to prove my hardship. You also have to remain on schedule or it nulls the hardship contract. I also have to reapply for the hardship every 6 months by sending them a copy of my paystub. It also took a LOT of phone calls and faxing and explaining.
Eventually I paid off the joint stuff and closed them. That also damages credit but I felt it necessary due to the cards being joint and I wanted them gone (It was 3 joint accounts).

With the car and the home foreclosure I just watch my credit report to make sure the dates remain consistent for falling off the report. I also disputed a lot of things that were on there. Some of the disputes were corrected and some remained on. That is fine it gave me peace of mind to dispute it anyway.

I have done a ton of reading on what good FICO scores are - I apply for a credit card or increase once every 6 months and get declined. I am ok with that, it allows me a free glance at your credit (it takes points off the score but I get an updated look at things to make sure it's where it should be) I figure one day I will get the cards and celebrate that accomplishment.

It's just been slow - it will be slow - it always is slow and the advice people give about calling the creditors yourself is about the best you can give. I also kept a notebook with names, phone numbers of people I spoke to about my credit. I personally am not sure I could give someone (consolidation) the power to pay my creditors. I did the damage I need to pay this or I will keep making the same mistakes. I also did not feel I had a number bad enough to need BK.

It's strange to think time is the enemy as well as your friend. After nearly 5 years I don't have child care expenses, my kids have a consistent stable home, food, clothing and medical and dental and we go on vacations and are happy !!! I can't imagine what the next 5 years will bring.
Thanks for asking about my story

xoxo Shannon

XoXo Shannon 2010 YTD Flake $349.94 2010 YTD Flake to Savings $193.33
iVillage Member
Registered: 10-01-2009
Sun, 01-03-2010 - 6:15pm

Shannon...that is wonderful...


I am sorry you struggled so hard but you got through it...


Congratulations...


Duke

iVillage Member
Registered: 07-11-2004
Sun, 01-03-2010 - 6:32pm
Congrats to you Shannon! That's a great accomplishment! I am where you were 5 years ago right now.
iVillage Member
Registered: 12-23-2008
Sun, 01-03-2010 - 9:56pm

I wish you luck Peony04 -
Keep me posted on your progress - I would love to hear your story as well

xoxo
Shannon

XoXo Shannon 2010 YTD Flake $349.94 2010 YTD Flake to Savings $193.33
iVillage Member
Registered: 07-14-2008
Sun, 01-03-2010 - 11:11pm
Thanks for sharing and I hope that you celebrate your success. You have been through a lot.





Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Mon, 01-04-2010 - 7:58am

Your story is inspiring.


Time is what my double-edged sword is.

iVillage Member
Registered: 04-10-2003
Mon, 01-04-2010 - 8:15am
Congrats! Its so nice to see someone who has worked so hard and persevered reap the benefits! Here's hoping you have an amazing 2010!

Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 10-01-2008
Mon, 01-04-2010 - 1:19pm

Congratulations Shannons.

Norma


"Patience is the best remedy for every trouble"- Plautus


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