I recently went to my credit union to try and refinance my car loan and they pulled up an old credit report before they did another hard inquiry on my credit. I must admit I was careless in the past with my credit and have items on there that are heavily impacting my credit score. I am 24 years old and looking to buy a house in about a year or 2. I know that this will ultimately be the cause of me being denied. My credit score is extremely low and I am wanting to repair the damage that I've done in the past. I have been tirelessly reading these forums trying to understand the lingo such as PFDs, DVs, PIF, etc. However, I still don't fully understand what I would need to do to get my credit back up to par to be able to purchase a home. My fiancé has excellenct credit and it is a little embarrassing to be in this situation because I cant even get approved for a crdeit card. I have not pulled a current report, but I will list below what was on my report from my Credit Union as of 10/2014. I would greatly appreciate it if anyone would please provide me on where do I even start and can i ever expect to recover from this. It seems as though my credit will never get better, but it's not like I'm doing anything to fix it. But I am ready to! I won't say that I am able to offer all amounts in full at one time, but I am willing to do them one at a time spread out if I can possibly get them deleted. ALL comments, suggestions and feedback is welcomed!
TRANSUNION SCORE 493 (Don't know other scores)
Collections
AT&T
ENHANCRCVRCO
OPEN 1/14
BALANCE 221
PLACED FOR COLLECTION 2/14
(This is an early termination fee that was verbally agreed upon to be waived since I had moved out of the country for more than a year, but it never got deleted)
CREDIT UNION - LOAN
OPEN 6/10 HIGHCRED 1500
VERIF 9/14A CREDLIM 0 PASTDUE 0
CLSD/PD 1/13 BALANCE 470 REMARKS PROF & LOSS WRITE-OFF
(A loan i obtained for someon and they stopped paying when I moved out of the country)
CAP ONE - CC
SOLD TO PORTFOLIO RECOV
OPEN 10/10 HIGHCRED 883
VERIF 9/14A CRED LIM 750 PASTDUE 0
CLSD/PD 6/13 BALANCE 0 REMARKS PURCH/OTHER LENDER
CREDIT UNION
OPEN 7/14 HIGHCRED 500
VERIF 7/14 0 CREDLIM 0 PASTDUE 0
CLSD/PD 7/14 BALANCE 0 REMARKS CLOSED
(Not sure why this is showing up as a collection. I applied for a secured loan, but never signed any documents to say that I was going to go through with it.)
Currently I have a car loan which has a high interest rate because of my credit and I also have an installment load through my credit union that is deducted from my pay check every month. I've been paying both since 12/2014.
