Me and my fiance plan to get married around2/2015 and hope to buy a home that summer. Our situation is little difficult since we both have credit issues.
Me:
Income $43000
Student Loan $40000 ($300 monthly payment)
Car Loan $1300 ($280 monthly paments
2 charge offs from 2011 but paid off on 2012 Look on this forum for good will letters and see if you can get the companies that you paid to delete these from your credit reports
2 account in collections from 2012 Look on this forum to see if you can get a Pay for Delete on these. Meaning, you'll pay them off, or settle for a percentage if they agree to delete these from your credit reports.
3 credit cards on time payment history 2 years straight Good! For optimum scoring make sure two of them report a 0 balance and the 3rd reports a balance of no more than 9% of that card's limit.
640 Credit score from experian
Fiance:
Income $30,990
Multiple collections from medical bills from 2007 ( he messed up his knee when he was young and had to have surgery and theraphy) Contact the hospital and see if they can work with you to pay these to get them off his credit report or if they have a program to get these removed from his credit report due to his financial hardship- though they should fall off his credit report soon since they're about 7 years old.
1 Repo from 2009 If you can, try for a pay for delete to get this off his report, but if you can't afford to do so, I don't know what to suggest. If he's with in your state's SoL I wouldn't want him to poke the bear and get sued.
Car Loan ($490 per month): Ouch- maybe if he can get some of those medical collections off, and has a relationship with a credit union, he can refinance this to get his payments lower.
Student Loans $10000 ($50 per month)
a few charge off on credit from 2007: These should fall off soon due to being 7 years old, but again, you can try to get them to delete them if you pay them off.
589 Credit Score
I have added him on to my credit cards as an authorized user hoping it will help him build some type revolving credit and increase his score. Does he have any of his own CCs? Perhaps he can apply for a secured card or two?
We have been going back and forth with credit repair and saving for a down payment and planning for a wedding,...but our main concern is our finances and credit we want to get started on the right foot .
Please Help
