Repairing my credit

[cautioncones]

So long story short I found out when I was 18 I had an identity theft issue, for the most part it has been taken care of aside from a judgment that has been filed and IM not sure on how exactly you "argue" or motion to have another hearing and explain I was only 16/17 at the time that judgment was filed. I currently have a CO secured card with $241 limit and I just got a CO Quicksilver card that was just boosted to 750$ limit. I have 4 student loans that are in forbearance as IM still in school, 1 account in collections for 500$, and a car loan for 13K " its actually my moms car but I had to sign on it first as I had the better credit." I have a career and average about 44K a year. I just recently applied for a CO platinum classic card and got a letter saying I have too many CO accounts? Should I close the secured and try again or try with a different company? As far as I know my score is around 620. Im also looking into an FHA loan, any suggestions on if I would fall within the qualifying standards?

[notfancy]

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@cautioncones wrote:

So long story short I found out when I was 18 I had an identity theft issue, for the most part it has been taken care of aside from a judgment that has been filed and IM not sure on how exactly you "argue" or motion to have another hearing and explain I was only 16/17 at the time that judgment was filed. I currently have a CO secured card with $241 limit and I just got a CO Quicksilver card that was just boosted to 750$ limit. I have 4 student loans that are in forbearance as IM still in school, 1 account in collections for 500$, and a car loan for 13K " its actually my moms car but I had to sign on it first as I had the better credit." I have a career and average about 44K a year. I just recently applied for a CO platinum classic card and got a letter saying I have too many CO accounts? Should I close the secured and try again or try with a different company? As far as I know my score is around 620. Im also looking into an FHA loan, any suggestions on if I would fall within the qualifying standards?

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HI there. Don't apply for another Cap 1 account. You might be able to get better and if you want to buy a home, you don't need 3 inquiries on your credit reports from them. I don't know how you argue the identity theft thing for a judgement but I hope you filed a fraud affidavit and that you filed a police report. If not, you should do so immediately. Don't try to get any more cards right now. Work on getting that judgement taken care of and see if you can get that collection account paid off and deleted from your credit reports. (Search the forum for Pay for Delete letters and ideas) Those two things will hold you back from good credit cards and a mortgage with good terms.  Also, you should see if your mom can refi that car into her name only so that you don't have  to worry about her if she's late or anything. If her credit is worse than yours, she might be a risky person to have holding an account in your name.

[cautioncones]

Im sure this is a very dumb question but the judgement I have on my file is for $867 , do judgements really alter your score that much? Iv already submitted my tax info and I plan on calling the collections company when i receieve my return and seeing if I can settle with them for a lesser amount due to it being a medical bill. Also, I can see what I can do about the car but the problem is shes on disability and doesnt have proof of income, she lives with me and her only payment is the vehicle

[notfancy]

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@cautioncones wrote:

Im sure this is a very dumb question but the judgement I have on my file is for $867 , do judgements really alter your score that much? Iv already submitted my tax info and I plan on calling the collections company when i receieve my return and seeing if I can settle with them for a lesser amount due to it being a medical bill. Also, I can see what I can do about the car but the problem is shes on disability and doesnt have proof of income, she lives with me and her only payment is the vehicle

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Your question isn't dumb. It sounds like you were too late to prevent the judgement from hitting your credit report. I don't know how much they affect you but I DO know that they are very bad to have on your reports. I'd wait a day and see if any one has any advice for you here on how to deal with that issue now. You definitely don't want a judgement on your credit report.

If she is on disability that IS her proof of income. Her SSDI checks. If she has no other bills, and you are covering the rent/ mortgage that should help her out some. I guess it all depends on what is on her credit report. I'm just wary of having someone with bad credit and a possible pattern of delinquencies holding something that could negatively affect your credit.

Good luck to you!

[randyrhodes]

Yes you should file that fraud affidavit as soon as you can....if you can prove it isn't yours or you were underage as it were....you can't enter into a legally binding contract. prove fraud and they'll have to remove the judgement. that judgement is holding your score down even now. work on getting it removed as soon as you can.

[shondra0609]

If you want another card try Barclays, barclaycard Rewards platinum MC.....the one that looks like a blue wave.  My husband and I both got approved for limits over $1000.

[cautioncones]

I will definately check out the barclays card, do they do CLI's? I think my first thing may be to tackle this judgement and get it setfled, despite it being fraudulent I think it will be easier to just pay the 800$ opposed to paying for a lawyer and such. I just really want to clear up all the negative and start working towards better credit. Will applying for the Barclay card play any negative role in me looking for a mortgage?