Fustrated and need help

[curryb15]

Hello all I have been in credit repair since Feb 2014. My fiance and I are looking to purchase our first home in the near future in the form of a condo. To make a long story short we are in a first time home buyer program and have a opportunity to buy a brand new condo that was just built. There is a time limit on how long we have to purchase this place until they move on to the next person.

The problem is my credit I have been rebuilding since the beging of the year. I am not seeing the results on the lender pull that I thought i would be so I need some help on what I should do to bring my score up as quick as possible so here is my credit report

Negatives:

2 closed capital one accounts that have 10 late payments from 11/12-4/13 ( due to my dad being in the hospital and I was helping my mom pay bills and only working part time while going to school) both accounts are paid in full as agreed and never went to collections.

One late payment on open credit line in 2/14 ( due to me being a digit off while entering auto debit)

thats the extent of the negatives.

Currently on my  report i have the following.

Credit card #1 opened june 2014 no lates. balanace $45/ $500

credit card #2 opened march 2014 no lates . Balance $25/$200

Credit card #3 opened dec 2013 One late in 2/14 . Balance $460/$2000

Car loan opened in 8/13 no lates balance $20,000

Student loan opened 9/12 no lates Balance $3,500

Personal loan opened 1/12 no lates Balance $1200

Thats the extent of my reoprt. I do also have a lot of inquires from trying to rebuild my credit and trying to get cards but only one of those inquiries was in 2014

Please help I have brought my scores from the mid 500's to low 600's and seem to be stuck.

[Anonymous]

Paying off the balances on all but one of the credit cards and having that one report between 1-9% of available credit seems to be the sweet spot for maximizing scores. Since those balances are pretty low, hopefully that is something you can do in time. The problem is the cards might take a bit to update the new balances to the CRAs.

[curryb15]

OK and what about the instalment loan I was going to pay off the $1200 one. I just dont understand why my score wont go above a 610

[Anonymous]

I am not an expert but I don't think installment loan balances really factor as much as revolving (credit card) balances. I wouldn't expect a score change from paying down an installment loan.

[Anonymous]

You have two cards opened in last six months. New cards can depress score for six months or more, especially where you don't have a lot of other cards. I think that is working against you too.

Also the 2/14 late is hurting because it's so recent. Have you tried calling and explaining to see if they'll give you a one time forgiveness based on the error and the fact that you are trying to buy a home? Can't hurt.

[curryb15]

yea I have been battling with them for months now and I keep getting the "its not our fault and we are legally obligated to report accuratly" I just dont know what else to do to try to get them to remove it. I have even been sending goodwill letters and everything

[fishbjc]

I'm assuming that those lates are rolling, which resulted in a charge-off status.  That will affect you for the entire 7-7.5 years, unfortunately.

I would leave the installment loan alone, and knock off two cc (in full) and let one report at 9%.

Also, the 'new' credit takes a while to age, thus holding you back a bit.

If Capital One won't remove them, you're stuck with them.  In my instance, it took about 3 years to see the scores begin to climb after charge-off. 

I would guess that you will see a bit of movement in the next 12 months, slowly.....