VA loan/ Score increase

Feb 242011
 

‘m so confused and any help would be greatly appreciated. My husbands scores per USAA credit monitoring services are EX 594 EQ 547 TU 584. He needs a minimum score of 620 to qualify for  VA loan. I paid off 2 cc’s and his score went up about 15 points. I am concentrating on paying the rest of the CC debt down, we have about $4000 total. I’m wondering if we pay them down to about 50% will his scores be good enough to qualify? I know there is no way of knowing for sure what the result would be, but if anyone has had any experience I would love to hear your stories. Also, we refinanced one of our auto loans and during the transition were reported 30 days late, I have submitted a letter to the original lender with the date and copy of the agreement for the refi in hopes that they will remove it since it wasn’t our fault. Fingers crossed!

Here is some of the CC info

Military Star Card $2300 bal $3000 limit

Best Buy $0 bal $300 limit

Merrick Bank $550 bal $1000 limit

Capital One $456 bal $750 limit

Fingerhut $640 bal $750 limit

 

Over the next 5 monhs I can pay about $500 a month to these debts. Which do I pay first? 

 

Should I cancel the USAA credit thing?

Debt Validation …for a price

May 032010
 

I’m in a mail war with Merrick Bank.  In Feb 2006, I mailed them $240 (the balance on my last statement) and requested to close my account.  In March, I moved to Europe for 3 years on Military reassignment.   Last year, I pulled my credit report ans saw that they claim I owe them $821. I requested debt validation.  They sent back a letter claiming the debt is valid, but didn’t provide copies of statements that I requested (Feb – Sep 2006).  They did provide a form for me to “order” previous statements for $2 each. 

Now, I also have a letter that indicates the original balance was $18.12 and the remaining $800+ is from fees and interest.  (Rediculous, right?). 

I provided a copy of my miitary reassignment orders and offered to PFD, but only for $45 (original $18 plus $27 for fees and interest).  They didn’t even respond to that part of my letter.

I’m getting ready to send another letter restating my offer to PFD, but refusing to pay for statements that I never recieved.  I also am thinking of telling them if they refuse to provide the requested statements, I will interpret that as their failure to fully validate the legitimacy of the debt.  I mean, really!  $18 original balance and $800+ in Fees.  Get real!

Advice?

 

Advice on improving credit scores, Please!

Mar 172010
 

I was wondering if anyone would like to offer advice on me raising my credit scores.  Currently, EQ/561 and TU/598.  Would like to raise them each 100 points by 12/31/10. 

 

 My reports look like this:

$9,579 in combined credit card debt vs. $6,192  total combined credit limit.  (I have a couple cards that are closed but still have balances)

On the credit cards …I have 7 late payments (30 days late) appearing on two HSBC accounts…with the most recent one being in Nov 2007.

 

 I have $24,000 student loan and $6,000 car note and $83,000 mortgage. (Never been late on any of these)

 

 Also have three items in collection, one is medical debt with $60 balance that just appeared this month. (This kind of stinks because I made payment arrangements with the original creditor for $20 a month and they still sent it to collections) I am thinking just try and send the whole $60 and ask for them to pull it out of collections (does this work and is there a correct way of going about this process)

 

  The other two collections are to the same collection agency and original creditor.  They are disputed charges…..and was wondering if a PFD might be the best option..I will pay the charges if I can get them removed.  The total of the two is $468 and the date of last activity was Feb 1, 2004.

 

The last two “baddies” on my report are a paid charge-off to First Premier Bank with the date of last activity being Sept 2004.  Merrick Bank bad debt/charge off….$485 balance with date of last activity being Sept 2004 as well. 

 

So would anyone like to take a “stab”at my credit mess and offer  advice to help me on my way to improving my credit scores.  Thanks in advance!!!

merrick bank pfd?

Feb 122010
 

ok, i have a merrick bank CO that will fall off in dec. id like to pfd, but would rather pay to have them give me a $0 balance and say “pays as agreed” any chance of that? how would i go about wording that letter? if the OC and the CA are both reporting a balance, then do i send the letter to the OC?