Mortgage and Insurance

I am working on rebuilding my credit.  My FICO score is currently 548. I’d really like to purchase a home in the next year. I know it will take a lot of hard work and determination to improve my credit score, and I’m prepared for that. But is purchasing a (first) home in that time frame even a possibility? Or should I plan for not doing so for a much longer time?

 

Here’s my credit report from Experian….

Status:  Civil claim judgment. 
Status Details:  This item is scheduled to continue on record until Jun 2015.
Date Filed:
06/16/2008
Date Resolved:
NA
Responsibility:
Individual 
Claim Amount:
$421
Liability Amount:
NA

Status:  Civil claim judgment. 
Date Filed:
09/09/2008
Date Resolved:
NA
Responsibility:
Individual 

Credit Items

ARROW FINANCIAL SERVICE 
This item is currently being investigated.
Original Creditor:
HSBC CARD SERVICES III INC
Status:  Collection account. $715 past due as of Jun 2010. 
Status Details:  This account is scheduled to continue on record until Nov 2014. 
This item was verified and updated on Apr 2010. 
Date Opened:
09/2008
Reported Since:
12/2008
Last Reported:
06/2010
Type:
Collection
Terms:
1 Months
Monthly Payment:
$0
Credit Limit/Original Amount:
$690
Recent Balance:
$715 as of 06/2010
Account History:
Collection as of Jun 2010, May 2010, Mar 2009, Dec 2008

CAPITAL ONE
Status:  Account charged off. $1,009 written off. $1,467 past due as of Sep 2010. 
Date Opened:
05/2006
Reported Since:
07/2006
Date of Status:
11/2007
Last Reported:
09/2010
Type:Revolving
Monthly Payment:$0
Creditor’s Statement:  Account closed at credit grantor’s request. 
Charge Off as of Sep 2010, Aug 2010, Jul 2010, Jun 2010, May 2010, Apr 2010, Nov 2007
150 days past due as of Oct 2007
120 days past due as of Sep 2007
90 days past due as of Aug 2007
60 days past due as of Jul 2007
30 days past due as of Jun 2007

Between Sep 2008 and Aug 2010, your credit limit/high balance was $600

CAPITAL ONE
Status:  Closed. 
Date Opened:
07/2006
Reported Since:
07/2006
Date of Status:
02/2008
Last Reported:
02/2008
Monthly Payment:
$0
Creditor’s Statement:  Purchased by another lender. 
Account History:
150 days past due as of Jan 2008
120 days past due as of Dec 2007
90 days past due as of Nov 2007
60 days past due as of Oct 2007
30 days past due as of Sep 2007

CASH-PRO INC
Status:  Collection account. $297 past due as of May 2010. 
Date Opened:
05/2007
Reported Since:
01/2009
Date of Status:
01/2009
Last Reported:
05/2010 Type:
Collection
Terms:
1 Months
Account History:
Collection as of May 2010, Jan 2009

HSBC BANK 
This item is currently being investigated.
Status:  Closed. $293 written off. 
Date Opened:
04/2007
Reported Since:
05/2007
Date of Status:
09/2008
Last Reported:
09/2008
Account History:
Charge Off as of Sep 2008, Aug 2008
150 days past due as of Jul 2008
120 days past due as of Jun 2008
90 days past due as of May 2008
60 days past due as of Apr 2008

PORTFOLIO RECOVERY ASSOCIATES
Status:  Collection account. $831 past due as of Aug 2010. 
Date Opened:
02/2008
Reported Since:
04/2008
Last Reported:
08/2010
Account History:
Collection as of Jul 2008 to Aug 2010, May 2008, Apr 2008
Balance History:
07/2010   $825
06/2010   $821
05/2010   $816
04/2010   $813
03/2010   $807
02/2010   $803
01/2010   $797
12/2009   $793
11/2009   $789
10/2009   $784
09/2009   $779
08/2009   $775
07/2009   $770
06/2009   $766
05/2009   $761
04/2009   $756
03/2009   $752
02/2009   $748
01/2009   $743
12/2008   $738
11/2008   $734
10/2008   $730
09/2008   $725
The original amount of this account was $695

SALLIE MAE
Status:  Open. Deferred, payments begin Nov 2010. 
Date Opened:
11/2005
Reported Since:
11/2005
Date of Status:
05/2010
Terms:
65 Months
Monthly Payment:
$20
Account History:
180 days past due as of Nov 2009 to Feb 2010
150 days past due as of Oct 2009
120 days past due as of Apr 2009
90 days past due as of Sep 2009, Mar 2009

SALLIE MAE
Date Opened:
11/2005
Date of Status:
05/2010
Last Reported:
08/2010
Terms:
65 Months
Monthly Payment:
$32
Credit Limit/Original Amount:
$1,522
Recent Balance:
$1,934 as of 08/2010
Account History:
180 days past due as of Nov 2009 to Feb 2010
150 days past due as of Oct 2009
120 days past due as of Apr 2009
90 days past due as of Sep 2009, Mar 2009

SALLIE MAE
Status:  Open. Deferred, payments begin Nov 2010. 
Date Opened:
09/2006
Reported Since:
09/2006
Date of Status:
05/2010
Last Reported:
08/2010
Terms:
120 Months
Monthly Payment:
$17
Credit Limit/Original Amount:
$1,313
Recent Balance:
$1,566 as of 08/2010
Account History:
180 days past due as of Nov 2009 to Feb 2010
150 days past due as of Oct 2009
120 days past due as of Apr 2009
90 days past due as of Sep 2009, Mar 2009

Accounts in Good Standing

AES/CHASE BANK
Status:  Paid,Closed/Never late. Deferred, payments begin Nov 2009. 
Date Opened:
08/2006
Reported Since:
09/2006
Date of Status:
09/2006
Monthly Payment:
$0

AMERICAN EDUCATION SVCS/NCT

Status:  Open/Never late. 

Date Opened:
10/2006
Reported Since:
11/2006
Date of Status:
08/2010
Last Reported:
08/2010
Terms:
175 Months
Monthly Payment:
$104
Balance History:
07/2010   $8,546
06/2010   $8,596
05/2010   $8,753
04/2010   $8,882
03/2010   $9,030
02/2010   $9,265
01/2010   $9,402
12/2009   $9,497
11/2009   $9,636
10/2009   $9,783
09/2009   $9,922
08/2009   $9,950
07/2009   $10,092
06/2009   $10,217
05/2009   $10,263
04/2009   $10,289
03/2009   $10,423
02/2009   $10,565
01/2009   $10,669
12/2008   $10,810
11/2008   $10,915
10/2008   $11,112
09/2008   $11,309
The original amount of this account was $14,525

Here’s My plan 
(let me know what you think)

The first one -the civil claim judgment will be paid within the next month. 

The second civil claim judgment is from Weltman Weinberg & Reis on behalf of Capital One, it will be paid ($1651) this month.

The Sallie Mae student loans – I had moved, they were in forbearance/deferment, I was irresponsible and didn’t realize the time had expired and payments were due. They’re in forbearance now, but I will start making payments in November! I plan on TRYING to make a payment greater than the minimum amount due.

Capital One – There are two separate accounts, the one that is related to the WW&R judgment, I plan on sending as many GW letters I possibly can in hopes they’ll remove it.

 

Portfolio Recovery /Capital One- I am currently trying to get them to accept a PFD, and will then send GW letters to Cap1.

 

HSBC/Arrow – I am currently disputing this, as an ex boyfriend, whom I lived with at the time opened the card in my name. If it is verified, I plan on offering a PFD.

 

 

That’s all I have so far! Any input/advice would be greatly appreciated!!

 

Also, what other steps can I take to increase my score?

• equable ascent financial machol & johannes
• myfico gw portfolio recovery
• weltman weinberg reis student loan nct