Credit Card Center Advertiser Disclosure

New Visitor
Posts: 2
Registered: ‎07-23-2007
0 Kudos

Could not get approved for first time home purchase...advice please!

I am so happy to have found this site, I only wish I had years ago, my husband and I have been trying to get our credit in better shape and it feels like we are just chasing our tails sometimes... our scores are between 515-580. I guess my main question is I have an account in collections with Arrow financial services which does not have the date it was opened, only that it was last reported in 06 and I have no idea what it is pertaining to.... also the big one is with Portfolio recovery, it is an old Providian acct and they are trying to say I owe 5500 when I know it was only 3000. I am not sure how to go about these, we need to get our scores to 620 and have nothing in collections so I feel really overwhelmed...I would appreciate ANY advice, we dream of being able to someday buy a home--thanks!
Established Contributor
Posts: 858
Registered: ‎06-26-2007
0 Kudos

Re: Could not get approved for first time home purchase...advice please!

Welcome aboard R4S, I am still a newbie at this but I will take a stab at it.  You need to send Asset a debt validation letter read the posting below:
I would also read the Credit Scoring 101 on the General Credit Issues forum as well to get some more ideas on different types of letters that you could send to get further verification of that debt with Portfolio that you are disputing, maybe even send a dispute letter to the credit bureaus.  I hope that I am telling you the correct info, I think I am, but maybe one of the "elite's" can confirm this for sure.

Good luck.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.