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Rebuilding Credit for First Time Home Buyers Loan

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Anonymous
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Rebuilding Credit for First Time Home Buyers Loan

Hello fellow credit conscience peep Smiley Happy

I have been working on rebuilding credit for about 6 months. I had a few random old small debts i paid off, a few fell off, and quite a few medical debts. 

I have been able to increase my score about 100 points by my self through ontime payments, opening another C.C. with Credit One, Disputing errors and old debts, and paying down my C.C. balance to 20% etc.

 

Right now all 3 scores are around 565.

1C.C. - Capital One : 70.00/300.00 (1 late payment 11 months ago)

1C.C. - Credit One: 70.00/300.00

Car Loan - 4.5 years paid, 4 payments remaining. all ontime payments (Keeping open for revolving account)

 

 

I need advise on the below:

2 charge offs:

*Tower Loan (worst company ever) that i decided to stop paying because the interest would cost me more than the judgement. Which I was right about. the down side is its      on my report as a Charge Off. (Not a judgement) Payments balance 1200.00 / pay ontime

 

* Mazuma Credit Union C.C. Charge off - 510.00 (2013)  Do i pay it off? what are the chances they will delete it?

 

Collections:

*Sprint BIll 2014 (sold to collection company) i will not pay. It is unfair charges that i do not agree with. I opened the account for 2 months and ended up with a 900.00 bill        because the guy in the store put us on a 1GB data plan when it was supposed to be unlimited. They wont budge, and i wont either. But its hurting my score Smiley Sad

 

My ultimate question is, do i get a personal loan to pay these off so at least they show paid? or just make payments on them over the next 3-4 months to pay them off, or would that re-start some kind of clock ont he 7 years, and if i did get a personal loan to pay them off, would that increase my score or decrease it. 

 

I have 6 months to work with before applying for a mortgage loan, so im trying to do everything i can to increase my score Smiley Happy

Thanks so much for any advise!!!!

 

 

Message 1 of 2
1 REPLY 1
Anonymous
Not applicable

Re: Rebuilding Credit for First Time Home Buyers Loan


@Anonymous wrote:

Hello fellow credit conscience peep Smiley Happy

I have been working on rebuilding credit for about 6 months. I had a few random old small debts i paid off, a few fell off, and quite a few medical debts. 

I have been able to increase my score about 100 points by my self through ontime payments, opening another C.C. with Credit One, Disputing errors and old debts, and paying down my C.C. balance to 20% etc.

 

Right now all 3 scores are around 565.

1C.C. - Capital One : 70.00/300.00 (1 late payment 11 months ago)

1C.C. - Credit One: 70.00/300.00

Car Loan - 4.5 years paid, 4 payments remaining. all ontime payments (Keeping open for revolving account)

 

 

I need advise on the below:

2 charge offs:

*Tower Loan (worst company ever) that i decided to stop paying because the interest would cost me more than the judgement. Which I was right about. the down side is its      on my report as a Charge Off. (Not a judgement) Payments balance 1200.00 / pay ontime

 

* Mazuma Credit Union C.C. Charge off - 510.00 (2013)  Do i pay it off? what are the chances they will delete it?

 

Collections:

*Sprint BIll 2014 (sold to collection company) i will not pay. It is unfair charges that i do not agree with. I opened the account for 2 months and ended up with a 900.00 bill        because the guy in the store put us on a 1GB data plan when it was supposed to be unlimited. They wont budge, and i wont either. But its hurting my score Smiley Sad

 

My ultimate question is, do i get a personal loan to pay these off so at least they show paid? or just make payments on them over the next 3-4 months to pay them off, or would that re-start some kind of clock ont he 7 years, and if i did get a personal loan to pay them off, would that increase my score or decrease it. 

 

I have 6 months to work with before applying for a mortgage loan, so im trying to do everything i can to increase my score Smiley Happy

Thanks so much for any advise!!!!

 

 


A car loan is not a revolving account, its an installment account. Right now you are taking a hit on UTI for all of your revolving accounts carrying a balance. Get a third CC account opened and only let ONE card show a balance of less than 10% of its limit.

Message 2 of 2
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