Student Loan re-consolidation

Oct 052010
 

I currently owe about 17K in student loans and I’m paying a 6.875% interest rate. My score is about 691. If I reconsolidate the loan for a lower interest will it hurt my score?

Scores Jumped up Dramatically – Now Getting Mortgage, What Happens Now?

Jul 082010
 

In January I applied for a home loan. The lender laughed at me. My scores were

 

TU: 585

EX: 553

EQ: 561

 

I now applied for a loan again in June, was approved, and am closing Escrow on the 16th. My scores are now:

 

TU: 687

EX: 713

EQ: 655

 

Question is, what’s next? Will the mortgage take a dip in my credit? Also, I went from 90% credit usage to about $35. I expect to be below that number by January, but I’m going to be maxing, or close to maxing many of my cards for new purchases for the home. Any idea of what that will do? What should I expect my scores to look like (rough estimate)?

 

Finally, I’m going to refinance my auto the day escrow closes. Any suggestions why/why not? I figure, next month, my credit will take a hit, so I should get a lower interest rate right away to avoid not being able to refi until later… I’m at 13% for auto (4.75 for mortgage).

unpaid medical collection

Jul 072010
 

Hi, new to board and re-building as well. I have one unpaid medical collection with a DOFD 4/2004. This is the only blemish on my credit report and kinda want it gone just to see it perfectly clean but after reading posts I am left wondering if I should just let this sleeping dog lie and roll off or offer a PFD? I am guessing it will come off sometime next year with it being 7 years? Any advice on what to do or what you would do. I think that it’s so old it really will not impact my score if I do a PFD. I have a mortgage loan, one installment loan, 1 major card, 6 revolving accounts and no lates for past 2 years. What should I do? My credit score just goes up and down slowly every month staying in the same range and would like to see a hike. Would I see a score increase? I am curious because I am looking to re-finance my home with lower interest rate.

Many thanks from Texas!

 

June 2010-EXP-696, EQ-676, TU-678

Will Consolidating my student loans affect my credit score?

Jun 232010
 

I asked this in the general credit forum but maybe it would be easier addressed here since no one seemed to have an answer there.

 

I have 2 student loans which are in good standing, always paid on time I have never been late. I recently received an offer to consolidate them which would get me a lower interest rate and lower monthly payments. My question is will this negatively impact my credit rating? I have no problem paying them as they are now but it seems to make sense to take the lower interest rate and smaller payments if it will not be detrimental to my credit. I am looking to buy a house by the end of the year and I don’t want to do anything that will lower my score.

 

Thanks

What steps can i take based on this?

May 032010
 

I’m currently at 705 TU Score. My Goal is 750 in FICO. I’m new to the forums and would appreciate any guidance provided. I filed BK7 back in 2003 and my last baddies are coming off this year. Except for the bk7 which will be there 3 more years.

 

I’m authorized user on 2 cards, does that help or hurt or nothing?

 

co signer on 2 cars and home, also co-signer on 1 home repair credit card that will be paid off in 12 months and one family credit card we carry a balance on from time to time. I also have 1 credit card with probably 80% utilization ratio with capital one(they always refuse to lower interest or raise credit line). 2 regular credit card paid off. and 1 store card.

 

I know my debt ratio will be greatly reduced in the next 12 months. how much of an improvement could that be? what else can i do? i’ve considered closing my last credit card i got for personal use a year ago…measly $1700 credit line and they won’t raise it. good idea? or should i just get more credit by getting a new card?