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10-21-2006, 12:27 AM #1Registered User
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- Oct 2005
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- Minnesota
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Repaired credit report really paid off - I am SOOO proud.....!!!!
I spent some time and effort going over our credit report and having corrections made over the past couple of months. When I was done, our FICO score went up by over 100 points!
The van we bought in June had an astronomical interest rate because our credit report had so many mistakes on it with us still owing on loans that had paid, etc.
My work on having these all corrected really paid off on our van loan. We refinanced it today, getting the loan out of Wells Fargo and into our Credit Union. The interest rate went from 17.1% at WF down to 6.5% at the CU!!!!! And the payment not only went down, but we will be paying it off 2 years earlier!! (4 years instead of 6, although I would like to pay it off even sooner) Just for the heck of it, the loan officer calculated the interest savings and it was over $10,000 in interest savings!!!
I just had to post this because I am so amazed - and SOOO proud!!!!
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10-21-2006, 04:20 AM #2Registered User
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- May 2006
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Congrats on getting a lower finance charge on the van. That is awesome!!
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10-21-2006, 08:36 AM #3Registered User
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- Mar 2005
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Great job. Just remember to check the credit report every year.
Kellie
2012 Challenges
Reading challenge 6/52
Lose a pound challenge 3/50
Homestead challenge - Clean out gazebo
Home Project challenge - Plant garden/work on bedroom
Gocery Budget Challenge - 0/300
Coupon Saving challenge - 82.23
April Goals
1. Clean out dad's apartment - partially done
2. Work on his taxes-done and mailed
3. Track expenses - have to really work on this one
4. Find more freebies
5. find ways to reduce expenses since won't have a job after this month
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10-21-2006, 08:50 AM #4Registered User
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- Jan 2006
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- Georgia
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Great going! Good thing you checked that out and got it fixed!
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10-21-2006, 10:42 AM #5Registered User
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- Sep 2006
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- South of the city
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That's great!
I have my autoloan through Wells Fargo. Well because of a bad situation with my credit they were the only ones that would carry my loan and my interest rate is really high.
I have been working on repairing my credit so that I can refinance some place else. I can't wait.Sue
Single Mom to
"A friend is like a good bra, close to your heart, hard to find and supportive."
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10-21-2006, 10:55 AM #6Registered User
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- Nov 2001
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- Nebraska
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You were smart to get your credit report corrected. Congratulations on your lower interest rate and improved credit rating!!
On 11-22-85 I married the man of my dreams.
On 01-13-89 I gave birth to the love of my life.
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10-21-2006, 10:39 PM #7Registered User
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- Feb 2006
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- Canada
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That was sure time well spent - congratulations.
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10-22-2006, 07:30 AM #8Registered User
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- Jan 2006
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- Northern NJ - PBurg
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That's great news, I did that myself (credit report repair) a while ago and the same thing happened to me too!
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10-22-2006, 09:02 AM #9Super Moderator
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Good for you!!!
~*Darlene*~
Live Well~LaughOften~Love Much
"Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around."
Leo Buscaglia
2012 Challenges
Books Read: 43
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10-22-2006, 12:23 PM #10Registered User
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- Feb 2006
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That's awesome! I wish I had attempted to clean up dh's report before we got our car. I know there had to have been some errors on there. Now it won't matter so much, but I do plan to do some credit repair to make sure everything is reporting correctly.
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10-22-2006, 07:25 PM #11Registered User
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- Jun 2006
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- 30
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Great job! I would feel really proud too! You are doing a great thing for your family!
Tara - SAHM to two beautiful little boys!
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10-23-2006, 10:17 AM #12Registered User
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- Sep 2005
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- Massachusetts
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How do you fix your credit report? On mine are two credit cards that are to stores that no longer exist?
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