[scottmandue]

I was chatting with my business owner friend over beer and hot wings last night.

He (and my wife) are surprised that my (our) credit rating is in the toilet.

Why is that do you ask?

My (our) house appraised for $350K so I refied to $220K, paid off all our credit card debt ($30K), closed out two credit card accounts and we are starting off the new year fresh. Our only debt is the mortgage, the car payment (I think around $8K) and $3K owed on a USAA credit line that snuck under the radar when we were paying everything off. Mortgage, car, and USAA are all on autopay.

Well, it appears the credit gods do not like it when you cut them off and stop paying their extortion payments.

Not that we need or want new credit but how long do you think it will take for us to bounce back credit wise?