Starting the process, not sure where to start.

[Anonymous]

So I've got my sights on buying a home next year, as well as lining myself up for settling in for the long haul in my relationship. My credit isn't quite where I want it to be, but I'm determined to make an attempt. Here's the breakdown:

• A little over $13,000 between two student loans. Both 180+ late with very spotty payment history the last few years. Currently in deferment until July, when I intend to get and stay on track.
• Paid closed collection to VA for GI Bill
• PR/CO for a private student loan (I'm sure this will hurt the most)
• $400 CO FPB. DOFD was July 2010
• Sprint (Diversified), T-Mobile, and DirecTV (ERC for both) collections totaling $1700. I'm pretty sure I've got the DTV equipment somewhere around here, so I'm planning on hunting it down and sending it in, hoping that'll cut that to next to nothing.
• I'm seeing a Midwest Recovery for a medical bill just showed up on TU. I've also got some other medical that'll probably make its way to collections soon. Already got a notice from one this month.

Current scores, also from MF:

• EQ 547 / TU 526 / EX 532

I was also recently approved for a Cap1 Secured, which will be a $300 CL. I'm not sure if now was a good time to do that, but this happened before I joined this community and started learning about good practices. I'm also planning on moving into a new apartment with 2 roommates in August, which will possibly be a pull (not sure if soft or hard). Besides having a stable, well-paying job, I've also started budgeting and cutting back expenses (downgraded internet, going grocery shopping to stop eating out so much, etc). I don't have anything in savings, but I'm working on that ASAP.

I'm sure getting fit for a mortgage by next summer with those scores and that history is a bit of a stretch, but even if I "fail", I'll still be on track to better credit. Worst case scenario, I have to rent for one more year before buying. So, I guess I need to know where to start from here.

[Anonymous]

If you have any collections or charge offs, I would start with them first. Start with the newest ones.

[Anonymous]

Ok. Should that include the FPB that'll "fall off" next month?

[Anonymous]

No. I would not include anything that's going to fall off from your cr next month.

[Anonymous]

I know this is a "cart before the horse" thing, but once those are paid off, are GWs a good idea? If so, how soon should I start sending them after it's confirmed paid?

[gdale6]

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@Anonymous wrote:

I know this is a "cart before the horse" thing, but once those are paid off, are GWs a good idea? If so, how soon should I start sending them after it's confirmed paid?

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If you cannot get a PFD on an item then your only choice is a GW letter after its reported as paid to the CRs. You keep sending a letter at a schedule you decide on but no more than one a month to the office of the President or CEO.

[Anonymous]

I'd definitely prefer a PFD. With most of this stuff still within the SOL, is that even an option? Again, I'll be able to pay in full.

EDIT: Nevermind, I found the answer here. A PFD seems to be OK as long as you can PIF.

[Anonymous]

UPDATE:

• DirecTV is sending me shipping labels for the equipment, which will reduce the amount due. They told me the policy is they don't do collection recalls, though, so I may have to GW this one.
• T-Mobile and Sprint confirmed (verbally) that once I'm ready to make the payment, I can do a PIF and they will pull the collection from ERC, completely removing it from my reports. Should I be safe with making a payment over the phone with them, or should I mail it in?
• TU and EX are doing an EE for the FPB CO, with EX quoted to drop in 24-72 hours. EQ has a strict 30-day policy, so I need to call back later.

[Anonymous]

Wow, that was insanely quick! Experian just sent me a notification that the item was deleted! I'm so happy I could dance! My very first step towards my goal. This feels good.

[medicgrrl]

Congrats on your accomplishments so far!  Just an FYI, I don't think a creditor can pull an account from a CA after it's been paid.  I would try and get everything in writing regarding that.