Help....help..Me..PLEASE..................SOMEONE !!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Anonymous]

Hello,

                                I need some good advise and MAYBE I WILL GET educated .OK, here goes.I was about three years my job cut hours and I was working (two jobs already) so I voluntarily repo and a a few cc charge off.Ok, so now this collection company has the loan and wants  to settle&the or cc no long has the account it"s know a chrgeoff and a collection has it and wants to settle.

                                 OK, after all said and done, I bought a car never late, two cc never late but limit is 250 each and started to pay on student loan I had some issues withsome cc charge off but paid them with zero balance.I trying to get a house that's a repo from hud and they want me to get a conventional loan.My scores are TU 620 EQ570 NOT SURE ON EXPERIAN.So, I called a few company's and they say I have to get my EQ up because some lender TU is second.How in the world can I get my score 40 points .They said don't open a cc because lenders will look ...why she getting a another cc.SO....PLEASE SOME CLEARANCE IN THIS MADNESS!! Looking two buy in two months.Thank you

[Anonymous]

I am a little confused at trying to understand what you are saying.

IMO from what I can understand I do not believe you will have a score increase of 40 points or better with-in 2 month's unless you can have the negative information removed from your reports. It will more then likely take you much longer then a few month's to get your reports and scores more qualifiable. 

Sorry I didn't have better news and hopefully some one else will chime in with better news for you.

[ficonightmare]

Like JM, I'm having some trouble following your post.

But if the jist of it is, you're trying to raise your score 40 points to buy a home, like JM said, it's not so easy.

First thing I would do is to contact the collection company and try to negotiate a PFD. They may be willing to do it.

As far as the charge offs- are they paid charge offs? If not, I'd ask for the same thing, a PFD.

I've read here that you probably won't get a loan if your reports are showing CO's. So your best bet is first ask for the PFD, if not, then you might have to pay anyway just to get the mortgage.

[haulingthescoreup]

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@Anonymous wrote:

Hello,

                                I need some good advise and MAYBE I WILL GET educated .OK, here goes.I was about three years my job cut hours and I was working (two jobs already) so I voluntarily repo and a a few cc charge off.Ok, so now this collection company has the loan and wants  to settle&the or cc no long has the account it"s know a chrgeoff and a collection has it and wants to settle.

                                 OK, after all said and done, I bought a car never late, two cc never late but limit is 250 each and started to pay on student loan I had some issues withsome cc charge off but paid them with zero balance.I trying to get a house that's a repo from hud and they want me to get a conventional loan.My scores are TU 620 EQ570 NOT SURE ON EXPERIAN.So, I called a few company's and they say I have to get my EQ up because some lender TU is second.How in the world can I get my score 40 points .They said don't open a cc because lenders will look ...why she getting a another cc.SO....PLEASE SOME CLEARANCE IN THIS MADNESS!! Looking two buy in two months.Thank you

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OK, let me see if I can figure out what you're saying.

On the positive side:

You have a car loan; never late.

You have two open CC's; low limits, but never late.

You have a student loan that you've started paying on; is it clean?

On the negative side:

At some point you got behind on something and it was repo'd. That can't be the auto loan that you said is clean, so what was it that was repo'd?

You've had a few (how many?) CC's that were charged off. These are now in collections?

You've had some other (how many?) CC's that were also charged off, but you said that they're paid with zero balance. These are different cards, right?

First of all, your EQ and TU scores, if they're from FICO, look at the score reports that came with the scores. Click on the second screen. What are the negative factors on each one, listed over on the left of the screen?

If you could list what you actually have, and their dates, and any balances, and any negatives, it will really help us out. Also, as mentioned above, please tell us what the negatives are on your two FICO score reports.

I have to say that I doubt you're going to gain 40 points in two months, so you will probably need to adjust your plans and dreams. But you can improve your credit profile from its current state and then be much more attractive to mortgage lenders. It will take time and work, but many people here have done this, and you can too.

[RobertEG]

I suggest that you put together, on one sheet of paper, the basic information needed to address your credit score repair plan.  Don’t focus, for FICO reasons, on accounts.   Focus on  individual derogs.

First, go to annualcreditreport.com, and get your free annual CR from each CRA.  This report is far superior to any CR you can buy through any commercial vendor.  Free.  Just don’t buy scores on the site.

 I would then  first focus only on your original credtior (OC) accounts.
Under each OC account, list each and every delinquency in your CR by date (e.g., 30/60/90+ ;lates, and any CO)
Underline the first late in the last chain of delinquencies of the OC account..  That is, in most cases,  your DOFD for fhat account.

 Then turn to collections and charge offs.  For each CA or CO, just locate the related DOFD on the OC account that led to the collection or charge-off..

 Finally, know your state statute of limitations on each account.

 With all of that in hand, you then know, one page,  when each derog is scheduled to drop from your CR due to its own age, without any action on your part (i.e., 7 years for each monthly delinquency on an OC account, and 7 1/2 years from DOFD on the OC account for each CO or CA).

Accounts still within SOL requrie particular attention, as they could result in legal action.

For accounts with unpaid debt, you have four basic options.  If outside of SOL, and you can wait tor their derogs to drop from their CR, you can choose to do nothing.  If you want eariler deltion, you can PFD them.

If still within SOL, take heed!  Those are the accounts that need immediate attention.  You can just pay in full.  That stops the possibility of legal action, but does no result in any deletion of anything they have reported to your CR.  Or you couild offer a PFD.  But that does not do anything, should they either decline, or choose to not evern respond.  IT is a gamble with a potential of CR deletion, but with the risk that they may escalate their actions.  Yuu take your chances.

For accounts that have been paid, you can send then good-will pleas for deletion.

I know that is a lot of work, but that is the information you need to avoid stumbling in the dark.

[Anonymous]

Hello,

                                        Thank you all for advice and I looked over some info .For one bought my car 24 months ago and it will be paid six months andi bought around 6500 and high % rate no choose and know helping me a little with my scoreand yes , it was a auto repo and this company wants to scuttlebutt, here the thing another company sent me a letter on behalf of the collection company now that has the account.They wanted to settle for so much less but at the time didn't"t have the cash paid had  obligation to pay off.BUT , I haven't heard a thing from them again and now this company is 'CRAZY the sent a plan to pay 900.00 a month for six months to pay it off ONLY OWE 4300!!!N0 way..... I can  do t that's want got me in trouble the first place damn  butts....So, I'm stuck on that issue and I'm scared once my car paid for my debt is down so will my score?

Ok ,for the cc the OriGNAL cc sold it and it's a charge off was 655.00 in 9/2008 open know this collection company (which are butt won"t budge on the %now is 1025.00 and they will settle for 800.00 Not!!!IF I paid it off if I pay it hurts my score it's says date reported 11/11/2010

I talk to realtor about my issue and she said try to pay them off and wait about six months and the way the market is today that house might be still on the months.Also, your  student loans will be reporting payments and might get another cc  .Really....will that help and that true not BS me.Well, any advice again will be helpful.

[Anonymous]

I would suggest credit repair for a few months. If you get lucky, you might just get some deletes and be at the 620ish mark. Good luck. Take everyones advice. Re-read everything and make a game plan. Write your plan down.