Right now my score is 602 per Equifax. I have one active installment account-balance is 22,121. Starting balance was 25690.
Debt to credit ratio: 86%.
Length of credit history: 14 years, 8 months. Average age is 9 years, 5 months
7 negatives on my account which are as follows:
1. 1-30 day late on car loan 4/2007
2. This was my mortgage and is a disaster. Did a modification twice, had to sell through Homeowners Assistance Program. Has 6-120 day lates from 2007 and 1-180 day late from 2011. Account was paid in full at sale but making the payments was difficult as evident by lates.
3. 3-30 days late in 2011 and 2013 from credit card (beg of year, wife was laid off when district resized and tenure took her place)
4. 1-60 days late student loan 12/09. I am disputing this as it was supposed to be in deferment as I was deployed.
5. 2-30 days late 5/07 and 11/07
6. 6-30 days late 2012, 2013 from current car loan (cash flow issues mentioned above, current now)
7. 4-30 days late 4/07, 7/07, 11/07, 12/07, 11/08, 4/08
2 collections on account
1. $182 to puget sound energy, now with Receivables Perform Mgmt
2. $300 to DirectTv, with Anderson Financial
3 inquiries on account. Disputing 1, one will age off 12/13.
I don't even know where to start or what to do. I know the late mortgages are going to kill me for years to come.
. I have the money to pay the collections if that helps. I am deploying for year and will be able to pay off the current auto loan or bring it within 5k of being paid off while saving a pretty good sized chunk of money. What is going to help me boost my score the most? Is it possible to move it to 680 over the next year (by Jan 2015)??? My dream would be 701, lol.
Also if my account was late two times over the course of the payments, the older ones still age off right? Like the ones from 2007 even if there are some from 2008?
Any help would be great. I look at retiring in 5 years and need to be in good shape when it comes time to house shop again. Thoug this time I know to ignore the lenders and not be house poor!!!
Debt to credit ratio: 86%.
Length of credit history: 14 years, 8 months. Average age is 9 years, 5 months
7 negatives on my account which are as follows:
1. 1-30 day late on car loan 4/2007
2. This was my mortgage and is a disaster. Did a modification twice, had to sell through Homeowners Assistance Program. Has 6-120 day lates from 2007 and 1-180 day late from 2011. Account was paid in full at sale but making the payments was difficult as evident by lates.
3. 3-30 days late in 2011 and 2013 from credit card (beg of year, wife was laid off when district resized and tenure took her place)
4. 1-60 days late student loan 12/09. I am disputing this as it was supposed to be in deferment as I was deployed.
5. 2-30 days late 5/07 and 11/07
6. 6-30 days late 2012, 2013 from current car loan (cash flow issues mentioned above, current now)
7. 4-30 days late 4/07, 7/07, 11/07, 12/07, 11/08, 4/08
2 collections on account
1. $182 to puget sound energy, now with Receivables Perform Mgmt
2. $300 to DirectTv, with Anderson Financial
3 inquiries on account. Disputing 1, one will age off 12/13.
I don't even know where to start or what to do. I know the late mortgages are going to kill me for years to come.
. I have the money to pay the collections if that helps. I am deploying for year and will be able to pay off the current auto loan or bring it within 5k of being paid off while saving a pretty good sized chunk of money. What is going to help me boost my score the most? Is it possible to move it to 680 over the next year (by Jan 2015)??? My dream would be 701, lol.Also if my account was late two times over the course of the payments, the older ones still age off right? Like the ones from 2007 even if there are some from 2008?
Any help would be great. I look at retiring in 5 years and need to be in good shape when it comes time to house shop again. Thoug this time I know to ignore the lenders and not be house poor!!!
Welcome to the forums KarenRuns!!!
First, try to relax....you came to the right place for help. Most people are very helpful, knowledgeable and provide lots of encouragement and direction at the right time. Your dream of owning a home is realistic (especially since you are giving yourself over a year to clean up).
1. I would start by contacting the CAs and offering Pay for Delete.....So you will end up paying less than $500 to get rid of those ugly collections right...
2. Stay on top of the student loan dispute, call them, write them, get those lates removed.
3. Write *goodwill letters requesting removal of late payments from your open accounts (this takes patience, getting in touch with the right person, and more patience)
4. Get some revolving credit, pay on time every month, don't carry more than a 9% balance and show good credit from now until you apply for your mortgage.
5. Tell us about your progress and get motivated by the success of others..
*Start sending GW letters to the most recent lates, then the others or do them all if you have time. I send GW letters every other week....so far I received 4 refusals and 2 deletes not bad for sending out 14 letters right? LOL Oh, and try not to spend too much $$ on credit and score reports and monitoring services....its so addictive.
Best of luck... I look forward to hearing about your progress.
012019 Fico8/Mortgage Score: 
+1
The lates from 2007 will age separately -it appears they are not rolling lates meaning at one time you were current after 2007. Definitely write letters,forever if you have too and the other thing that is holding your scores are down is the util. Getting it under 30% would be ideal for you and a boost to your score.
The lates from 2007 will age separately -it appears they are not rolling lates meaning at one time you were current after 2007. Definitely write letters,forever if you have too and the other thing that is holding your scores are down is the util. Getting it under 30% would be ideal for you and a boost to your score.
Welcome to the forum and thank you for your service!
I would say first step is to ensure you are a member of NFCU. I dont have access to it but have seen that many have great things to say about being a member.
As for the items in your past, here are my suggestions.
1. 1-30 day late on car loan 4/2007 - Let this drop off next April. Its really close and will just drop off. Probably isnt even effecting your score.
2. This was my mortgage and is a disaster. Did a modification twice, had to sell through Homeowners Assistance Program. Has 6-120 day lates from 2007 and 1-180 day late from 2011. Account was paid in full at sale but making the payments was difficult as evident by lates.
3. 3-30 days late in 2011 and 2013 from credit card (beg of year, wife was laid off when district resized and tenure took her place) Write a GW letter stating you were deployed and ask them to remove the late payments.
4. 1-60 days late student loan 12/09. I am disputing this as it was supposed to be in deferment as I was deployed. - Contine to fight this via GW and through the CBs.
5. 2-30 days late 5/07 and 11/07 - Let these drop. 30 days dont do much at the end of their stint.
6. 6-30 days late 2012, 2013 from current car loan (cash flow issues mentioned above, current now) - Try a GW stating you were deployed and ask for them to remove the lates.
7. 4-30 days late 4/07, 7/07, 11/07, 12/07, 11/08, 4/08 - I would say leave it. Again, these are only 30 days and are coming up to the end of their life.
2 collections on account
1. $182 to puget sound energy, now with Receivables Perform Mgmt - As for a PFD. Simple. Think, it could be $18,200. Focus on the PFD with them.
2. $300 to DirectTv, with Anderson Financial. I worked with these guys. I paid in full and they removed it. Just be friendly when you call.
You came to the right spot. This is easy compared to what you do while deployed.
