Hello, Sorry if this is not the right place to post. I read the sidebar and due to the fact it is a weird situation, I wasn't sure what I was looking at.
I am a 25 (April 14th, actually.) year old former foster care ward. Due to the fact that I was a ward of the state, there were not many options for me to start earning credit straight out of the gate. I was able to, with the help of loans, grants, multiple jobs, and 21 Century Scholars, put myself through college and even study abroad a few times. I have always been serious about my payments and financial reputation.
Fast forward to mid 2016. I am 24, working at a state prison, own a car I bought outright, cheap rent living with friends, not many bills. Credit score, pushing 720s. I was budgeting well enough to actually buy items I wanted.
I decided to quit my job and go to South Korea for a year and make money/travel Asia. The plan was sell my car, use the money to pay off my credit card, get my student loan payments reduced to $0, due to the fact I was not making any money in the States. And periodically send money home (while using my credit card to buy birthday gifts on Amazon, to keep rotating credit) to pay off what I used on my credit card. My dad, sober and working as an accountant with a Master's coming up on 10 years post prison, was a new man and became my best friend.
He was stable, working two jobs with decent income and I trusted him. He was in an accident, not his fault, and totaled his car. The other driver that caused the accident did not have any insurance and he was SoL. His insurance company would not help him without charging him a 1500 dollar fee. So we struck a deal and he agreed to make a couple hundred dollar payments monthly on my credit card I planned to pay off and I would just give him the car.
One month into my 12 month contract in South Korea. He totals my car. Uses the insurance money they sent me for it on other things. Loses his job and cannot pay my bills. Which locked my account and started the decline of my credit. I had to make a bank account here that would let me transfer money back home to my Chase account. So I can start making payments. He told me he made the payments to everything the first month. However, in February my credit dropped a whopping 140 points in a single hit, because he lied about paying my student loan bill ( I had one, August, to pay before my year of $0 payments started.) I should have checked, but honestly did not expect the lie.
So now I am sending most of my paycheck home to pay off my credit card. He used my insurance money. Lied about getting his own insurance and instead used mine, so I now have an accident on my record (The first one on my record) and it isn't even one I was involved with.
I am sorry for the rant, if this is not permitted or too much, please just delete it. Not asking for pity or for ridicule.
I am just curious what I can do from here to try and raise my credit back up and restore my reputation as a dependable customer. The first month here my score was 734, as of February it was 561.....
TL;DR: Father had a midlife crisis. I am in South Korea. He royally screwed me over and without a care (ironically he is an accountant) in the world and I am left scratching my head. How can one raise his credit and reputation while living a 15 hour flight from home.
Submitted April 13, 2017 at 02:54AM by deviousdinosaur http://ift.tt/2nHgrWz
