My credit score dropped from 750 to 550 yesterday and I have about $20K interest accrued on my $380k loans. I feel like I'm stuck in such a big pickle. And what worries me the most is the credit score, because I want to buy a car soon. It's not a want, it's an absolute need. Do delinquencies weigh as heavily as I think they do or can I bring back my credit score in about 6 months?

like
Posting as :
works at
You are currently posting as works at

Hmm sorry to burst your bubble but bringing your credit score back from 550 to a respectable level in just six months, especially with existing delinquencies and a substantial amount of interest, is highly unlikely. Especially recent delinquencies, have a significant negative impact and remain on your credit report for seven years. I'm sure making on-time payments going forward will help but it won't erase past mistakes overnight. Just do your best and don't worry about the credit score for now.. just focus on it not going lower.

like

Took me about 6 years to bring mine back up from low 600s to mid 700s

like

Your score didn’t drop 200 points in one day, so getting it back up won’t happen in one day. Depending on the cause you might be able to take advantage of re-aging programs that make it as if the negatives never happened.

Related Posts

Is anyone spending an abundant amount of time evaluating and tracking quarantine cases, attending internal Covid updates and other tasks associated with Covid at work ?

like

Looking to create a survey to send out to our customers to get an idea of what kind of content they’d like to see from us. Any suggestions on high-value questions to ask?

like

Does PayTM(Payment gateway team) allow permanent wfh?

like
like

Which will have better hours: H&K or Foley? Interested in data for litigation or corporate.

like

Good resources to find industry metrics? Interested to see how carriers rank up by product type in direct written premium, new business, combined ratios, etc.

like

How supportive are your companies when it comes to taking PTO for mental health days?

likesmart

Hi Fishes,

I got interviewed at infosys two days back.
When can I expect to hear back from them.
Also all the questions that were asked to me were written coding questions(Write block of code) none were verbal.I could write all answers but none was 100% correct.

At last I asked the interviewer about feedback as in where was I wrong. He said at couple of places and he explained me where was I wrong.

Do you all think I will be rejected?

like

Can someone refer me in wipro, i have a job ID.

My wife and I are moving to Boston from overseas (we’re from Italy and we’ve recently won the diversity visa green card lottery).

We are looking to rent a 1BR starting in January, ideally for ~$3k/month. I’ll be working in the downtown area.

Do you recommend we go for a serviced/luxury apartment (e.g. Montaje, 345 Harrison, etc.) or hire a broker to get a “normal” apartment?

Any managed buildings recommendations within our budget? Also, what are some good brokers we could work with?

Thanks!

like

New to the city and looking for people to hang out with!
23F, if that matters!

like

As lawyers are there ways to get paid for connecting clients?

like

Optum is hiring. DM for referrals

Post Photo
like

What is your preferred enterprise file storage solution? I’ve been comparing all the features but I’m curious what everyone likes best.

like

What key traits show you that a Senior is ready for Manager?

like

Anyone here with experience of having lived in San Jose Costa Rica? Parents moving there and have a few questions.

like

Managers that dont do anything to contribute to delivery ever, what’s your deal? i’m not talking about good managers who are cogent, articulate, and genuinely good at being...a manager. I’m talking about those that have a “i finally get a seat at the table and will delegate and do nothing else” mentality.

likesmartfunny

Bain & Company Hi, does anybody know what the compensation is for BCG Senior Practice Manager? This is an internal role. Boston Consulting Group Bain & Company McKinsey & Company

like

What do people take into account when deciding your exit date before grad school? What is a typical last day for GSAP folks?

like

Does MBB hire non-MBA master from Lvys? With 2 years of experience

like

Additional Posts in Student Loans

LCSW 50k loan repayment- Has anyone been granted a contract through the National Health Service Corps Loan Repayment Program? I’m interested in applying for the 2 years of full time work as an LCSW but my loans are a bit under 50k so I’m wondering if they would only give me what I need to clear my loans or would I still get 50k as long as I complete my contract ?

If you didn't have to pay off any more of your student loans what would you use the money for instead? I'm stuck between something impractical like a trip somewhere or something I need like a new car lol

like

Curious to know how much your student loans were when you graduated from your program, how much you’ve paid off so far, and your age. If you have any varying factors too, like kids, income range, etc. Just trying to see if I’m on track or slacking in life. I am 34 yo, i graduated with 95k in student loans, i currently have 85k left and i make 85k in come. I’m also a single mom with two kids. Just praying for 100% student loans forgiveness. Wishful thinking???

like

In a perfect world how much would you want to make a year to both pay off your loans and live a good life? I think I'd need to make upwards of $200k to pay off my loans, take care of my family and live a fulfilling life.

like

Does having student loans impact your ability to get a mortgage?

like

Are you doing what you thought you would be when you took out your student loans? If so, do you feel like taking out your loans was worth it?

likefunny

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal