Credit Karma

In November 2013 I found Credit Karma through their advertising like everyone else.  Just saw the ad, you know, they are the company that does not require a credit card to give you a free credit report.  I got the free credit report and noticed that the by had a credit repair company called Lexington Law that partnered with them.  They had several programs that they offered; I chose the one that cost $59.00 monthly by default.  The more expensive program was $99 and I hesitated to spend that much.

Lexington Law assigned someone to me who reviewed my credit report and the wheels started turning.  There were letters written to the credit reporting companies disputing four items on my credit report.  These items were paid off but had been in collection.  How does that help, you might ask?  The best way to explain would be to share the results...my credit score climbed by 71 points since December 2013.  It is March 15th and I am very pleased.

My Credit Karma page provides me with an overview of my credit situation.  There are suggestions that have helped me to begin rebuilding my credit.  I applied for a credit card that permits me to make purchases and to pay the bill expeditiously.  This is an improvement that is reflected on my credit report and this has had a positive influence on my credit score.

Another recommendation that my Credit Karma page offered me was the option to seek refinancing for my car loan.  In October 2012 I purchased a 2011 Nissan Versa with the less that adequate credit score.  My interest rate is 20.46%.  I have quite a few payments left and my monthly payment is not too high.  I did apply for refinancing as this seemed like a very reasonable thing to do.  I have spoken with someone already regarding a much lower interest rate.  My payment will be much less; I do want to pay the car off faster once I get the lower rate.

Monday, March 17, 2013

Got a call this morning and I got an offer to refinance my car at 12% from Wells Fargo.  This is a definite savings for me!  Not only is this a saving of 8%  my monthly payment is less.  This is exciting!  Being frugal is just the best.

Moving forward, I am still concerned that I am not doing the best that I can do.  I am not saving as much as I would like to at this point.  That is very important to me.  I do feel that I need to re-commit to living simply and being FRUGAL.  There is a great difference between want and need.  I need to re-focus!

Sign me, getting back to simple things in small town America, M