Charles – Removed defaults, reduced enquiries, and increased Credit Score from 269 to 722
Let’s talk about Charles.
I met Charles and his lovely wife at a Pacifica property pathway event. After hearing my talk about credit, they approached with concerns about potential problems on their credit reports.
Charles earns good money, but they were experiencing issues with not paying bills on time and had received notices from debt collectors in the past. Despite his decent income, their credit reports showed five defaults and numerous enquiries, highlighting their financial struggles.
With three children and substantial debt of around $40,000, their goals were to buy a home after renting for the last 15 years since they’ve been married. The combination of missed payments, defaults, mounting debt, and the desire for homeownership painted a picture of a family striving to gain financial stability.
Outcome
After meeting with Charles and his wife, we planned a course of action. Over the next six to seven weeks, we worked on the information on their credit reports:
- The number of defaults went from from five to zero.
- We also reduced the number of enquiries on the report.
- Charles’ credit score started at 269 on his Equifax report and ended up at 722.
Charles is now in a position to purchase his first home with his wife. They were in the process of buying their first home when we last talked and were excited to provide an update once they moved in.
