I paid off a car and for some reason, my credit score is going down. I havent opened any credit cards, or racked up any debt besides my car payment and for some reason, my credit score went down 44 points in the last 7 months. I dont know what to do. I own no credit cards and I have no student loans, so I have no idea WHY my credit score went down and is SO LOW. I have a car, which I pay on every month and a few other $200-$300 debts (like literally 3 others) that are old...from 2013 and 2014.
Can someone please help me with what is going on here? I want to see someone that can assist me with debt, but they charge money and I live paycheck to paycheck. I am 48 years old and cant even get a Walmart card if I tried. Credit score is THAT BAD.
To start off, have you reviewed your credit score information within Turbo? You will be able to see total accounts, derogatory marks, credit inquiries, average age of credit, credit utilization, and how on-time your payments are. Each of these categories will give you a rating based on whether they are helping or hurting your score. Be sure to check the, "Total Accounts," section to determine if there are open lines of credit that you may not be aware of. We should make sure your credit report is accurate before moving on to more general causes that may be affecting your score. Let me know how that goes and we'll continue from there.