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Hello,
I am working through the forum and I am so confused by the abbreviations and lingo so I figured I would post and hope I can get something I understand (I will keep working on learning the lingo though).
I am a 24 year old young professional and I was just accepted into an MBA program (yay! WOO! Hoorah!). The program is around $75000 in total cost which I can cover about $50,000 in Federal no credit check loans (accredited program). Problem is the last $25,000. My current credit score is about 613. Last year I had multiple 60 day late accounts and now everything is caught up and I have around $3000 left of debt to pay off out of $6000 total credit card debt. I have federal and private student loans that are paid on time and have never been late. I have one "collections account" for now $1100 that I have disputed (unsucessfully) and have no idea what to do next to either get it taken off the report.. etc. I have some questions I was hoping someone could answer.
1) I need to get that collections off of my report. It currently isn't listed as collection in FICO but as a late payment on an account? The company is Assett Acceptance and I don't know what to do. Any suggestions?
2) I need to apply for the Federal PLUS loan but it says that if I have a collection it will not give me credit. Will the earlier "collections" affect that?
3) If I cant get the PLUS I need to apply to private loans. Who are the better low score private loan providers? Will they even consider me? How high of credit scpre will a co-signer (my father, maybe) need?
4) Any other options?
I really hope someone can help or direct me to an answer elsewhere. I have made mistakes and been SCREWED by banks. I am just trying to move onward and upward and these old credit mistakes are holding me back.
Thank you to whoever takes their time to respond.
That's what it seems like. I am willing to try and negotiate with them if I have to. They call ALL of the time and its unbearable.
Here is the account from FICO:
and here is the collections section:
I have no idea how to deal with this.
I can't tell if it is an old bank account or a credit card from 5/3. If it is the credit card, I owed $438 in 2009 when they shut it on me and refused to accept payments. But it was never that much and 5/3 wouldn't take the money?