Thanks for your responses. I pulled our EQ Fico for both of us and they reflect a lower score, 540s for both of us, and 3
Collections paid in full. Should I send GW letters? We are currently living w a family member w the hopes of being able to buy a home in the near future. An I fooling myself by believing we could increase our scores enough to make us eligible for home ownership in the next few months? Thanks again!!
Unfortunately, that timeframe is probably too optimistic. It's not impossible, but it is pretty unlikely. You should start sending GW letters, but they rarely work the first time around, and sometimes the CA simply will not budge. You have to be persistent to have success with GW. It's almost always denied on the first contact, so just allowing for the time to send the letters and get an initial response, and then start the second round of letters, you're probably looking at close to a couple months. That's not to say you shouldn't try. The sooner you start, the better chance you'll have.
Other than the collections, what other negative info do you have? When was your last late payment?
How many positive tradelines do you have? You mentioned the auto loan and the secured credit card. Anything else?
GW the companies -- the CAs and the OCs and try to get them removed.
Watch ur utilization.
I went up 80pts in ~37 days when I got items removed and brought my utilization down.
Which companies were the collections with. You might try searching here or googling the name + good will to see who other people contacted at those companies.
Definitely research what should go in the letters before sending.
What's the limit on the secured card? Can you deposit more money on it to increase the limit? I know I was able to do that when I had my capital one. How long has it been open? Who is it with?