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New Contributor
guardmama04
Posts: 61
Registered: ‎10-12-2012
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550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

I currently have around a 550 credit score that seems to fluctuate back and forth. I have recently done a couple of things that I was told would help...I have two secure credit cards and also have a loan from my credit union, i alsp pay my student loans. I have about 7 negative marks on my credit and some are as old as 07/08. Is it appropriate to use a credit repair service or is there more steps I can accomplish on my own? I get the run around when trying to make settlements. My husband and I are looking to get a morgage loan sometime this summer and it seems far fetched at the moment. Any help would be appreciated!! I can post my current credit issues on here from the site if needed.

In My Wallet: Barlclay NFL $4500 | Capital One Secured $300 | First Progress Secured $300| Walmart $600| New York & Company $500| Kohls $300| Discover IT $3000| Sears Citi|$4000|Walmart $800
First car lease $370 month August 2013
Signed First Mortgage August 2013
Starting Score: 581 EQ
Current Score: 658 EQ
Goal Score: 750
New Contributor
guardmama04
Posts: 61
Registered: ‎10-12-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

Company Account number Date opened Balance Status Negative Indicator? [?]  
Fst Premie  9/2007$436Bad debt/collection Details
1 Progress  7/2012$0Pays account as agreedNoDetails
Brazvalsch XXXXXXXXXXXXX000110/2012$7,500Pays account as agreedNoDetails
Fedloan XXXXXXXXXXXXX00029/2011$4,716Pays account as agreedNoDetails
Fedloan XXXXXXXXXXXXX00019/2011$3,474Pays account as agreedNoDetails
Sallie Mae XXXXXXXXXXXXXXXX00602/2006$2,479Pays account as agreed Details
Sallie Mae XXXXXXXXXXXXXXXX00602/2006$1,391Pays account as agreed Details
Lvnvfundg  8/2008$1,027120+ days past dueNoDetails
Midlandmcm  9/2009$981120+ days past dueNoDetails
Lvnvfundg  1/2009$529120+ days past due Details
MacYsdsnb  9/2007$288Bad debt/collection Details
Brazvalsch XXXXXXXXXXXX00003/2011$0Pays account as agreedNoDetails
Gecrb/Jcp  9/2007$0Bad debt/collection Details
Crdtonebnk  11/2007$0Bad debt/collection Details
In My Wallet: Barlclay NFL $4500 | Capital One Secured $300 | First Progress Secured $300| Walmart $600| New York & Company $500| Kohls $300| Discover IT $3000| Sears Citi|$4000|Walmart $800
First car lease $370 month August 2013
Signed First Mortgage August 2013
Starting Score: 581 EQ
Current Score: 658 EQ
Goal Score: 750
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

[ Edited ]

What is your credit card CL ?

1: 1st premier send PFD

2:Macy's send PFD

3:Midland send offer 40-50% PFD

4: 2 LVNV send offer send offer 40-50% PFD

* whoever don't accept PFD ask them to update status paid as agree or Paid in full.

5 baddebt/collection with 0 balance send goodwill 1 letter for every 2 week until you get right people agree to remove it out

1 see you have 1 credit card only. Now it time to get 2 more secured credit card ( 3 credit cards and up will improve max credit score,) with me I like 6 better.

* all collection reporting as open account they are trying to harm your score down by hit into your avabile credit. Your credit profile look like max out. 

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!


guardmama04 wrote:
Company Account number Date opened Balance Status Negative Indicator? [?]  
Fst Premie

 Still have the debt, try for 

PFD, or PIF and GW

9/2007$436Bad debt/collection Details
1 Progress  7/2012$0Pays account as agreedNoDetails
Brazvalsch XXXXXXXXXXXXX000110/2012$7,500Pays account as agreedNoDetails
Fedloan XXXXXXXXXXXXX00029/2011$4,716Pays account as agreedNoDetails
Fedloan XXXXXXXXXXXXX00019/2011$3,474Pays account as agreedNoDetails
Sallie Mae XXXXXXXXXXXXXXXX00602/2006$2,479Pays account as agreed Details
Sallie Mae XXXXXXXXXXXXXXXX00602/2006$1,391Pays account as agreed Details
Lvnvfundg

 CA, Send DV if the verify

send PFD

8/2008$1,027120+ days past dueNoDetails
Midlandmcm  Same as above9/2009$981120+ days past dueNoDetails
Lvnvfundg  Same as above1/2009$529120+ days past due Details
MacYsdsnb  9/2007$288Bad debt/collection Details
Brazvalsch XXXXXXXXXXXX00003/2011$0Pays account as agreedNoDetails
Gecrb/Jcp  Send GW9/2007$0Bad debt/collection Details
Crdtonebnk  Send GW11/2007$0Bad debt/collection Details


Looks like First Premier and Credit one are your OC baddies and Midland and LVNV are your CAs.  FYI, Midland and LVNV shouldn't be reporting lates on a monthly basis, I'd check on that.

 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

For CA , they can't not report as open account, I have 2 CA on my credit report. They reported as open account. 1 LVNDV and LHR, 

How I handle this?

1 : LVNDV I file complaint to BBB, they said they will remove it out my credit report .

2 LHR I filed complaint to BBB, ( they said blad blad blab. Don't work this way) I file complaint to AG and sent them second letter to acknowledgment this account. Then wait for another week sent them a 3rd letter offer them 40% to remove it out my credit report, a week latter received there responded ,they accepted my agreement to delete it out my credit report. Now I just wait another 30-60 days let see what happening. 

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
New Contributor
guardmama04
Posts: 61
Registered: ‎10-12-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

Thank you so much for your input, so should I tackle the small items first? I am unsure what CA means? Also is it better to call these companies directly or corespond by mail only? Is the going through a credit repair company even beneficial?

In My Wallet: Barlclay NFL $4500 | Capital One Secured $300 | First Progress Secured $300| Walmart $600| New York & Company $500| Kohls $300| Discover IT $3000| Sears Citi|$4000|Walmart $800
First car lease $370 month August 2013
Signed First Mortgage August 2013
Starting Score: 581 EQ
Current Score: 658 EQ
Goal Score: 750
New Contributor
guardmama04
Posts: 61
Registered: ‎10-12-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

I actually have one FP credit card and once Capital one both secured and limits of 200/300. I also have a personal loan of $7500 I am paying off from my credit union.

In My Wallet: Barlclay NFL $4500 | Capital One Secured $300 | First Progress Secured $300| Walmart $600| New York & Company $500| Kohls $300| Discover IT $3000| Sears Citi|$4000|Walmart $800
First car lease $370 month August 2013
Signed First Mortgage August 2013
Starting Score: 581 EQ
Current Score: 658 EQ
Goal Score: 750
New Contributor
guardmama04
Posts: 61
Registered: ‎10-12-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

Also If i send letters out doesnt this open up the door for this information to stay on my credit report for another 7 years? If they dont agree to settlement and deletion?

In My Wallet: Barlclay NFL $4500 | Capital One Secured $300 | First Progress Secured $300| Walmart $600| New York & Company $500| Kohls $300| Discover IT $3000| Sears Citi|$4000|Walmart $800
First car lease $370 month August 2013
Signed First Mortgage August 2013
Starting Score: 581 EQ
Current Score: 658 EQ
Goal Score: 750
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!


guardmama04 wrote:

Also If i send letters out doesnt this open up the door for this information to stay on my credit report for another 7 years? If they dont agree to settlement and deletion?


don't admit the debt, and you are fine. you wont restart any clock unless you start payments.. then i can get iffy if you stop making payments..

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
New Contributor
guardmama04
Posts: 61
Registered: ‎10-12-2012
0

Re: 550 Credit score...looking to get a morgage loan and need advice on what steps to take!!

Thank you! I saw you got Lvnv removed from your report, what steps did you take?

In My Wallet: Barlclay NFL $4500 | Capital One Secured $300 | First Progress Secured $300| Walmart $600| New York & Company $500| Kohls $300| Discover IT $3000| Sears Citi|$4000|Walmart $800
First car lease $370 month August 2013
Signed First Mortgage August 2013
Starting Score: 581 EQ
Current Score: 658 EQ
Goal Score: 750

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