Rebuilding my credit and a few questions

[Bri89]

Alright here goes, in a nutshell of course!

I am a young mother trying to buy my first home. I will be going through Housing Trust program that will be greatly helping me with financial assistance, so I am extremely thankful for that. However I must have at least 620 minimum fico score. And because of past horrible mistakes of lending out my credit to family members I have allow them to ruin my credit. SO, as it stands as of right now I have-FICO--TU 595, EX 560. I just paid off my credit card down to 30% of it available credit (was almost maxed), paid off my vehicle loan, and have paid everything on time for the last 6 months. There is nothing derogatory on my credit in the past 6 months basically.

I am on serious time constraints right now (with my current lease) and I'd like to be at least starting the process by Feb of 2012. Now I know that their no "magic number" but I am wondering just how long it will take me to rebuild my credit to that satisfactory 620? Also, if you have any advice on how to help me build it, it would be greatly appreciated. Thanks in advanced all.  

[dharalex]

If you truly have no baddies, then time and utilization below 10% are your best bets. So, i would pay the cards down to less than 10% and make sure to pay on time. If you have 30,60,90 day lates or chargeoffs, etc. that are more than 6mos old, its probably worth investigating and trying to get them removed since every point will count. I wish you lots of luck!

[dharalex]

Oh yea, since you are doing this pretty soon, I would not apply for anything! You need all your points....

[Bri89]

Hello!

I appreciate your response. Great idea to stick with 10% and below.

I can get 30,60,90,120 days late removed? I have paid them in full and they are now closed and that was over 6 months ago. Who do I need to contact and asked that they be removed?

Thanks!

[llecs]

Welcome to the forums!

Also, where did the scores come from?

What baddies do you have (you mentioned paying everything on time for the past 6 months)?

Do you have any other CCs besides the one?

[Bri89]

 Hello!

Score came from here-MyFico.com

My baddies are that at the beginning of this year I have had one account 30,60, 90, 120 days past due (all one one account-signature loan) and another 30 days past due (my CC) and my auto loan 30 days past due once. Last year my student loan went past due 90 days. However I have paid all of these derogatory accounts in full and they are now closed. (expect my CC) Since than all of my current bills have been paid on time.

I have 2 department store CC's, one major CC, 2 student loans and 1 installment loan on my credit now.