Please Help! I have No time left, and need help with scores ASAP!

Feb 072011
 

I was not intending on buying a home, but was trying to get my husband’s and my credit scores up, anyway. Then out of nowhere I fell in love with a house, was expecting it at all, but I must have it I cant think of anything else. I am so stressed out, and have been brought to tears, because I may lose my dream home. Luckily I have already gotten us on the right path to a healthier credit history, but we are still a long ways away. I have found a lender and a realtor, they are good so far, have not met either of them in person yet. My lender says its better to work on my husbands scores, although mines are higher, because his are simpler and faster to fix. My husbands FICO scores are EQ-508, TU-531, EX-646. His report is barely one page long.

 

on it is:

1) new auto loan opened 07-2010 no lates so far

2) $500 secured credit card opened 06-2010 – one 30 day late payment- was maxed out, just paid $250 on it 2 days ago.

3)LVNV collection acct for HSBC Orchard- settled and paid 1 week ago, not yet reported to bureaus

4)LJ Ross $503 – I am paying them monthly, but they are not reporting the payments.

5)2 disputes on file

6) 2 accounts  that are closed paid never late

 

that is all thats on his report

 

our lender gave us a list of three things to take care of on his report

 

1) pay CC to $100 balance (but I am going to pay down to $50)

2) remove all disputes- buying a homepath home, cannot have any disputes on file

3)pay off 2 collection accounts

 

 

what we have done so far-

A) Paid off LVNV – we got a huge settlement offer, it was wonderful!

B) paid CC down to $250

C) contacted EQ and TU about removing disputes

 

Problems we have ensued:

Cannot get ahold of experian, claims offices are closed because of storms for a whole week

LJ Ross will not let us settle my husbands account, unless I settle mines with his for only at 80%, which I think is totally ridicoulous, what if we were separated. he should only be responsible for whats on his reports.

 

Questions I have:

should I even pay-off LJ Ross? I learned from reading post on here, that when you pay-off old accounts it drops your score. should I just continue monthly payments?

Should we open another card in his name?

What can we do right away to raise scores?

 

I know I am asking the impossible, and most of this will take time, but i dont have much, I need to be able to put offer on home before it is gone.

I spoke to the bank that owns the home, and they do not require a pre-approval letter to accept offers on home, but my realtor wont put offer on home without one, or at least a pre-qual letter. My lender wont do pre-qual letters, only does pre-approval letters. My head is spinning. I only want a pre-qual letter to put offer on home. So that I can ask for 60 day finance clause. This will take home of market and give me time to wait while my husband’s credit scores reflect the work I have done. my realtor says this is not legal, I heard that it is. Now i dont know what is true, I just want this home.

 

Please tell me what I should do.

Thank you in advance for any advice you give.

 

 

[Edited to remove some duplicated text.]

Looking to repair my credit score

Jan 162011
 

My fiance and I are wanting to buy a house since we now have a little one on the way, we were wanting to do it about April of 2012, to give us some time to get our finances/credit in order. My scores are all in the high 500′s, low 600′s. What’s the best way to repay some of this past debt, and get the things off there that shouldn’t be on there to begin with.

 

Here are the goods that are on my report

1. I have had a CC with a $500 limit for about a year now, how should I best utilize to increase my score the most

2. I have two separate accounts with a Lease to Own company (think rent-a-center) one for $1,147 and the other $1,686 both PIF no lates etc.

 

Listed below are the baddies listed on my report

 

Equifax

1. I have a student loan that is listing from the OC and CA is there a way to get at least one of those of f my report? It’s currently PIF. DOFD 7/2004

2. I have a collection account for $239 that I need to pay. would it be better to ask for a PFD or just make the payments and leave it on there. DOFD 03/2005

3. a medical collection that just showed on my report for $881. I know for a fact that this bill has been PIF to the OC without it even being late. Can you DV a medical collection? DOFD 9/2010 (at least that’s what’s showing on my report)

4. collection account for $80. DOFD 07/2006. I’m thinking a PFD would be best for this one.

 

Transunion

1. the same collection acct as #4 from EQ

2. same student loan from #1 EQ

3. same collection acct as #2 EQ

4. Medical collection account for $219 that I’m not sure what it is. DOFD 1/2006

5. Medical collection account for $4,082 that I know I owe, but what’s the best course of action for this DOFD 6/2006

6. Medical collection account for $1,591 that I know I owe, but again, what’s the best course of action? DOFD 6/2006

7. Collection account for $97. Is PFD the best option? DOFD 10/2008

 

Experian

1. same collection account as #4 EQ

2. $3,269 bill for when I was “evicted” from an apartment, this went to court and the complex dropped the suit because they were in the wrong, how do I get this off my report

3. Same student loan as #1 EQ

4. same collection account as #2 EQ

5. same medical collection as #6 TU

6. same collection account as #7 TU

7. same medical collection as #3 EQ

 

 

 

Rebuilding credit/Debt Management Plans

Jul 152010
 

Hello All,

 

It has been some time since my last post.  I am committed to getting back to the 700 club!  Here is my situation: I took a financial hit & thought my income would have recovered by now..NOT.  I had pretty large credit limits.  I had 2 investment properties, I was able to do a short sale on 1 & loan modification is pending on the other.  I am under a reduced repayment program right now.  My TU  credit report is showing the short sale as “Payment after chargeoff/collection,”  EQ is showing it as “Bad debt/collection (repossession/foreclosure).   It is also reporting as acct pd for less than full balance.  Is there anything I can do to update this? The property I am keeping I have been paying on my loan mod consistently & it is still reporting 120+ days past due.  I have never missed a payment since I signed up for the repayment program.   Is there anything I can do to update this? 

 

In regards to my credit cards I had 1 Citibank (they closed & charged off bad debt) but they are still showing a balance on my credit reports.  I have not heard anything further from them as to who owns the debt or what the next steps are…  I had a Sam’s Club (they closed & charged off bad debt), balance showing $0.  now Midland is showing up as a collection acct yet they have never contacted me.  Any suggestions?

 

My Discover & Wells Fargo I was under a 1 yr reduced/hardship plan.  The time is up & my income is not back up, I can’t afford the minimum payments, credit card co has suggested I contact/enroll in DMP.  How does this affect my credit because ALL of my credit card companies have closed my accounts. 

 

My Success Story

Jul 042010
 

In February of this year, I finally took my head out of the sand and confronted my credit reports and scores.  It was a depressing experience, but it had to be done.

My mid score was 562, due to CC lates that had occurred within the previous year, and high util (>80%).  My goal at the time was buy a house, so I knew I had to get my score up to at least 620, but I was hoping for 650.  I figured it would take a year.

 

Fast-forward 4 months later.

 

After paying my CCs down to <30% util, having a collection acct removed and being a year since my last late payment, I have reached by goal of 650.  I was pre-approved last week for the house of our dreams, and I am getting ready for the UW process.

 

None of this could have been possible without the help of the contributers on this board.  I have returned here daily (sometimes several times) to educate myself on how to improve my credit.  I subscribed to Score Watch, and it is such a great feeling when you get an alert that your score has increased.  I have come so far, so quick, and have learned so much in the process.  I am no longer in fear of my credit, but I am in control of it.  It is such a great feeling.  I will continue to be vigilant in handling my finances, and I look forward to seeing my score reach that 700 mark, and to then continue higher.

 

I am sharing this to give hope to others who are just starting the rebuilding journey.

Looking for HIPPA and PFD examples.

Apr 022010
 

Hi everyone, I am looking to pfd a collection acct and am in need of a pfd example letter.  I am also looking to have some old medical collections removed and am need of a HIPPA example letter.  Can someone please help me out as these are the last remaining collection acts on all three of my credit reports, the only derogs that I will have are five paid charge-offs, that are due to all off 2012.  The collections are due to fall off as well in 2012, but they are unpaid and I think I will have better luck getting them deleted.  Thanks for any help.

CA – IC Systems

Mar 172010
 

 

Hi guys –

 

 Back in August I completed a home buying seminar and they pulled a comb credit report. I am noticing a collection acct which is showing paid back in 2004. My issue with this line is

 

1) it doesn’t show up on my current credit reports that I have pulled, so is it affecting my score or not? I understand it could have fallen off but I guess I’m wondering if it shows up on this kind of report because it was pull related to a mortgage loan?

 

2) It appears they re-aged the acct, I have the exact same info showing up with a date of 2009. It states it was paid. I know I paid the acct back in 2004 not 2009.

 

3) Do I good will them? I kind of think I did before and that is why the acct in dispute. before it was paid.

 

Suggestions? Thoughts?

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