Hi everyone! I'm new here and just looking for advice, opinions, criticisms...whatever about what I should or shouldn't do from this point on. I really started concentrating on rebuilding my credit in May 2012 when I finally woke up and realized that I needed to do something about my credit NOW. I applied for a mortgage in April 2012 to buy the house I grew up in. And with my scores in the 500's, of course, I didn't get approved. Here is some information off my credit reports:
SCORES from lender as of 04/2012: TU 596, EX 550, EQ 576
2 public records on all 3 CRAs from same medical company from 01/2010. Unpaid.
11 negatives/collection accounts on TU
2 more collections on EX in addition to TU
3 more collections on EQ in addition to TU and EX
INQUIRIES (Most of them came this year after I started rebuilding journey. Yes, it's a lot!)
TU - 10
EX - 14
EQ - 15
Newly approved this month
Still waiting to hear from Capital One Cash Rewards MC, TJX card, and Victoria's Secret for approval (got 7-10 day message).
Approved for a mortgage by 2014
In regards to your collections, for the ones that aren't falling off anytime soon, you should try to pay them off. Obviously try pfd first but if they won't budge, you may just have to pay them and GW the heck out of them afterwards. Many/most mortgage lenders won't approve you until you've paid past collections.
i have seen a few posts about people successfully getting judgements vacated after satisfied. As for the medical collections, i've always seen people suggest using the hippa process. I don't know anything about it other than you cant discuss it on these forums, so its likely a bit of a shady way to get them removed.