Keeping SCORE (My Score: 514)

As stated in the title I'm keeping score and they are too. You remember that cell phone you let get turned off and u simply went and got another one without paying the balance on the first one? It just hit your credit report and brought down your score. That credit card you MAXED out and said. "oh forget them they have more money than they need". It just hit your credit report and lowered your Fico Score. Everytime you're more than 30 days past due on a credit account it is reported to Equifax, Experian or TransUnion or all three. It just depends on who that company can afford to report to. Smaller companies normally report to one, larger companies report to all. I don't know enough about all this to go into detail all I know is my score is 514 do you know what that means? IT MEANS I CAN'T BUY BUBBLE GUM ON CREDIT! (thats why I'm disgruntled!) I can blame it on society, da white man, I can blame it on the rain but the blame falls soley on my shoulders, I did it, I made this mess. Now I had some help from an even dumber then me about finances Ex Husband and a Disgruntled uneducated about finances single mother, but at the end of the day that score belongs to me.

So here's the only tip I can give; Pay your bills on time, if you can't pay the balance in full when the bill comes then For GOD's Sake DON'T CHARGE IT, that means you can't afford it.
Keep track of what's on your credit report disputing any descripencies.
For more detailed tips and advice check out my favorites over there starting with Single Ma, she even answers yalls emails.

*This Information was taken from My FICO Score to read the entire article please go to that website.*

FICO Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining your score

These percentages are based on the importance of the five categories for the general population. For particular groups - for example, people who have not been using credit long - the importance of these categories may be somewhat different.

Payment History
Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance company accounts, mortgage, etc.)
Presence of adverse public records (bankruptcy, judgements, suits, liens, wage attachments, etc.), collection items, and/or delinquency (past due items)
Severity of delinquency (how long past due)
Amount past due on delinquent accounts or collection items
Time since (recency of) past due items (delinquency), adverse public records (if any), or collection items (if any)
Number of past due items on file
Number of accounts paid as agreed
Amounts Owed
Amount owing on accounts
Amount owing on specific types of accounts
Lack of a specific type of balance, in some cases
Number of accounts with balances
Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)
Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)
Length of Credit History
Time since accounts opened
Time since accounts opened, by specific type of account
Time since account activity


Your score considers both positive and negative information in your credit report.
Late payments will lower your score, but establishing or re-establishing a good track record of making payments on time will raise your score.

1BrokeSista
*Peace 2fingas*

I have a plan do YOU have a plan?

Ok, Ok I've got my wig back on and in place and I've settled down.

I'm not getting any older and no matter how hard I try my children are getting bigger (I tried to stop em!) The economy is on the verge of collasping (my opinion) Gas is off the charts and the price of food is right up there with it. Seeing how the world around me is changing I had to come up with a financial plan so we (me my future broke and disgruntled husband and my broke and disgrutled kids) can SURVIVE!

"Hi, my name is 1brokedisgruntledsista and I'm a Shop-A-Holic and I'm in Debt"
The first step is admitting that there is a problem and in my case it's ME!


I've learned the painful way that if it's on your Ass then its not an ASSET. Armed with that knowledge I had to develop a plan to get out of debt and stay on the reformed Shop-A-Holic wagon.

Step 1
Realize what matters most in life, everyone's different different values drive different desires. To me being a good steward with what God has blessed me with is what's most important, glorifying Him with what He has given me is my #1 top priority. I can't glorify Him if I'm constantly focused on buying me the latest (knock off) of the new hot styles. This is what started me on the road to recovery as far as shopping goes.

Step 2
Develop a plan! "If we fail to plan, we can plan on failing" I don't know who said that but it works for me so here's my plan:

I started my emergency fund a few months ago and reached that in no time just by cutting out my emotional shopping. Baby steps, I set the fund goal at $2000 bucks and we now have a fully funded efund. I do plan on increasing it but I have to get the debt paid down first.

In my post "Ain't worth Jack Spit" I listed my networth and debt, a big chunk of my debt has been eliminated! Thank Ya Jesus!

Here's a breakdown of a large part of the remaining debt. *This isn't all of it...I'm taking baby steps*
Keep in mind all of these accounts have been turned over to collections so my poor credit score is exactly that POOR!

Sprint $222.62
University Medical $219.00
University Medical $88.00
University Medical 452.00
SBA $1,712.00

With the van note being eliminated ($250) and I just received a pay increase which will be $311 additional dollars on each pay check before deductions of course. That's $872.00 additional dollars a month give or take. Now being a sister who is NOT going to live above her means I am attacking this debt and getting it out of my life FOREVER!
Since we lived comfortably on the old salary which is still the current salary until Aug. 1, 2006, we shall continue as if the promotion and raise never happened. The additional funds will be applied to debt and 1brokesista's retirement fund cause I wanna lay on the beach with my girl Single Ma and sip Margarita's when we retire!

Track my progress! I give myself until Jan. 1, 2007 to get rid of the 5 bills above. I'll keep you posted and the elimination begins the first paycheck the new salary kicks in!.

Peace*2fingas*