Debt Dumpers - 2014

[ruadisneyfan2]

Target still hasn't sent me a pin or anything after signing up with my email the other day. You actually make a really good point though about them probably still being hacked. I think I may just go on Equifax, pay the $8 and get my report from them, because I would love to see my FICO score.

Last night the annual credit report site wouldn't let me go back to Equifax and get it. I went to eqifax.com and it offered many credit monitoring plans, credit report + scores for $30. After digging, I found if you already have their credit report and only want your score, call 1-877-SCORE-11.

I did and it offered Equifax own score, my "Inside Score" or both. It offered explanation but still no where did it call it FICO or even Fair Isaac or offer a FICO score, only inside. I wasn't sure what that meant so I hung up.

I have no intention of applying for credit any time soon so I think the only way to get my score is to buy it.

I did discover that my employer had made several inquiries over the last few years. Not the way a creditor would but it does list it.

 

[Eureka]

Help quick!

I'm reviewing my annual credit report after the Target mess. I'm actually kind of leery to accept their offer for identity protection. I have a hunch they're still being hacked & I'm reluctant to enter my ssn with any website having to do with Target. They are a Target literally.

Anyway, I don't see any errors but has anyone paid the extra to see what their credit score is? I started to with trans union but there was so much fine print about signing up for some membership & free trial , etc and I was afraid my log in might time out while I sat to read it all.

Now I'm onto Equifax and it's only $7.95.

Has anyone done this?

Target is not monitoring your credit report, it's ProtectMyID. Target sends you a code to get it for free.

 

[SpaceGirl]

Ruadisneyfan2

While this isn't your FICO Score I have found if you answer all the questions the results are close....

FICO® Score Estimator

http://www.myfico.com/FICOCreditScoreEstimator/Estimator.aspx

 

[gracie1]

Ruadisneyfan2

While this isn't your FICO Score I have found if you answer all the questions the results are close....

FICO® Score Estimator

http://www.myfico.com/FICOCreditScoreEstimator/Estimator.aspx

Thanks for posting this!! I went on and checked it out. This is pretty great!

 

[gracie1]

I decided to sit down tonight and play around with a budget to get my home equity loan paid off early. I believe if I stay very frugal (without a lot of unexpected) I would be able to have it paid off January 2017 (which would be 7 years early!!). This would however, deplete my complete savings (which I also use as an emergency fund). But, I would be able to take my payments that I normally make and have my fund completely back to being funded within two years. The interest I would save would be $8600. This would then only leave my mortgage, which still has 23 years.

So what are your thoughts? I am just tossing it around right now, because of course a lot of unexpecteds could hit where it ends up not being possible to pay it off that early.

 

[dayvewc]

I decided to sit down tonight and play around with a budget to get my home equity loan paid off early. I believe if I stay very frugal (without a lot of unexpected) I would be able to have it paid off January 2017 (which would be 7 years early!!). This would however, deplete my complete savings (which I also use as an emergency fund). But, I would be able to take my payments that I normally make and have my fund completely back to being funded within two years. The interest I would save would be $8600. This would then only leave my mortgage, which still has 23 years. So what are your thoughts? I am just tossing it around right now, because of course a lot of unexpecteds could hit where it ends up not being possible to pay it off that early.

I'm all in favor of paying off the loan early, but I wouldn't do so at the expense of your emergency fund. Just my $0.02

 

[dayvewc]

Ruadisneyfan2 While this isn't your FICO Score I have found if you answer all the questions the results are close.... FICO® Score Estimator http://www.myfico.com/FICOCreditScoreEstimator/Estimator.aspx

This is an awesome link. Thanks for sharing. I need to bookmark it for future reference.

 

[SpaceGirl]

This is an awesome link. Thanks for sharing. I need to bookmark it for future reference.

I like that you can change the information around to see how paying off one credit card or loan will effect your score.

 

[SpaceGirl]

I decided to sit down tonight and play around with a budget to get my home equity loan paid off early. I believe if I stay very frugal (without a lot of unexpected) I would be able to have it paid off January 2017 (which would be 7 years early!!). This would however, deplete my complete savings (which I also use as an emergency fund). But, I would be able to take my payments that I normally make and have my fund completely back to being funded within two years. The interest I would save would be $8600. This would then only leave my mortgage, which still has 23 years.

So what are your thoughts? I am just tossing it around right now, because of course a lot of unexpecteds could hit where it ends up not being possible to pay it off that early.

Gracie

I think you should definitely go for paying off your HELO early, but not at the expense of your entire emergency fund.

The average cost of financial emergencies annually is only about $2,000 per household, according to the Consumer Federation of America, and just one in three Americans report needing to tap their emergency savings in a given year.

So perhaps you should still keep a small EF until your loan is paid in full.

 

[gracie1]

Gracie I think you should definitely go for paying off your HELO early, but not at the expense of your entire emergency fund. The average cost of financial emergencies annually is only about $2,000 per household, according to the Consumer Federation of America, and just one in three Americans report needing to tap their emergency savings in a given year. So perhaps you should still keep a small EF until your loan is paid in full.

I think that is what I will do - make sure there's atleast $2000 or more left in there. I'm almost afraid that once I get my fund built up that high that I will have a hard time taking it out to pay my loan off!!!

 

[SpaceGirl]

I think that is what I will do - make sure there's atleast $2000 or more left in there. I'm almost afraid that once I get my fund built up that high that I will have a hard time taking it out to pay my loan off!!!

Not when you compare the Interest your paying on the Loan to what your money is making in the savings account. It will be easy peasy...

 

[gracie1]

Not when you compare the Interest your paying on the Loan to what your money is making in the savings account. It will be easy peasy...

That is very true!! To know I will be saving atleast $8000 will be worth it!!

 

[SpaceGirl]

I did go to Target's website and got my unique activation code for the one year of free credit monitoring. I'm going to wait until after my new card comes in before I activate it, that's if I decide to use it.

 

[zy144622]

Must share today's shopping victory with you all. I murdered the clearance rack at Kohl's today with gift cards I was given for Christmas. $230 retail price, my price $50 and I still have $50 in gift cards for that mall left. So proud, not only did I not spend more than the "free" money I had I still have half of it for another time.

 

[dayvewc]

Must share today's shopping victory with you all. I murdered the clearance rack at Kohl's today with gift cards I was given for Christmas. $230 retail price, my price $50 and I still have $50 in gift cards for that mall left. So proud, not only did I not spend more than the "free" money I had I still have half of it for another time.

Woohoo! I just managed to snag some dog shampoo for 2/3% off, and new toys for 75% off. And got $43 in DVD's for $12 using my Best Buy rewards.

 

[LilSweetPeaPhoto]

Well got hit today w/ our TV dying. We've managed to extend it's like twice by replacing the lamp, but today, it won't even turn on. So we had to venture out finally get a new one. UGH!

I guess the only good is that we had $330 in gift cards to use towards it. And I managed to save $300 by having best buy price match Amazon. We put it onto our Best Buy card, so we do have 24 months now to pay it off....approx $75/mo now going towards that. UGH!

We're getting close to having a 0% Home Depot card paid off, I guess we'll be swapping the payment we've made on that for the TV.

 

[gjl]

Removed

 

[momtosam]

Paid off my car and my Old Navy card this weekend. Holy cow!

 

[SpaceGirl]

Paid off my car and my Old Navy card this weekend. Holy cow!

Great Job...you're on a roll

 

[ruadisneyfan2]

Don't take this the wrong way, but That's one expensive TV! There were no other options that wouldn't have you go that much more into debt? Just a temporary option while you save or pay down some other stuff?

I have to agree. A couple years ago when 3D TVs were just coming out dh "had to have one" when our old one died. For a 55" LG it was around $1500 on Amazon with 2 or 3 yrs no interest.
Now that we see that 3D is a big dumb gimmick (like picture in a picture, sigh) we have seen very nice 55" TVs for under $1000; not that we're shopping for one. Still a very nice TV & $800 less than $75/month x 24 months. Just saying.