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New Member
Amanda11984
Posts: 4
Registered: ‎06-09-2009

URGENT- PLEASE -need help fixing my credit asap to get a mortgage loan

Hi everyone!  I am brand new to this site and I need a lot of help.  My husband and I just found out that our landlord wants to sell our house.  He wants to sell it to us, but if we cant get our credit up to where we have any home of obtaining a mortgage, he is puting it on the market.  Also, we really want to buy a home before the end of Nov. so we can get the First Time Homebuyers Tax Credit.  We have gotten just our Experian reports so far and our scores are me- 548, and Greg-566.  I know we need a 620 to even be considered for anything, right?  Is there any hope for us to get it up that far in this short amount of time?

 

Also - I sent PFD letters to every negative on our account, but mostly got no responses and the ones I did get said no.  Will it raise our scores to pay them anyway? 

 ok - I am going to list some of the items on our reports and hopefully some nice people on here will have some suggestions:smileyhappy:

 

 me-  first of all there is Collection Serice Center listed twice for an old doctors bill.  It is the same CA but different addresses.  Can I dispute this? Who do I write a letter to - the CA or the CRA? It says Recent Balance - $282 on each of them.

 

Next is Diversified Collections for a hospital bill with a recent balance of $155.

 

Next is M&I Bank for a credit card. Status says: Account Charged off.  $459 written off. $459 past due as of Feb 2007.

 

Next is Target-TNB with a credit card.  Status says:  Account Charged off. $380 written off.  $190 past due as of April 2009. 

Credit limit $200

high balance $380

Recent balance $190

 

NEXT- Verizon Wireless

Status: Account Charged Off

$562 written off.  $562 past due as of Aprl 2009

 

 

NExt WFNNB Victorias Secret

Status: Account charged off. $391 written off.

 

 

Greg - my husband

 

central credit/penn credit for Allegheny power

Status: collection account $61 past due as of Feb 2009

 

chase

status: transferred, closed

credit limit/orig amt: $2000

high balance:$2796

recent balance: N/A

creditors statement: Purchased by another lender

 

commonwealth financial for first usa bank (i think this is for the chase card above)

status: collection account $3196 past due as of Feb 2009

recent balance: $3196 as of 02/2009

 

collection service center for a doctors office

 recent balance:$65

 

Collection service center for emergency room visit

recent balance: $110

there are two of these but they have two different account numbers and i think they are two different things

 

midland credit mgmt for verizon wireless

status:collection account $401 past due as of march 2009

 

portfolio recovery  for dominion peoples

status:collection account $311 past due as of Apr 2009

 

Please dont judge us! we know we have been extremely stupid but are trying to fix it- we just dont know what to do.  We just need a lot of help and would be extremely grateful for any help you can give us. 

 

We can afford to pay some of these off but dont want to do it if its not going to help us get a mortgage by november.

 They are pretty much all scheduled to fall off between 2012 - 2014.

 

Thank you anyone who replies!!!!

 

 

Member
bathroomchat
Posts: 6
Registered: ‎01-04-2009

Re: URGENT- PLEASE -need help fixing my credit asap to get a mortgage loan

Hi,

 

I would pay off the medical bills because they would be more inclined to negotiate a PFD. 

 

The others, especially Midland Credit, I would DV via CMRRR.  Then no matter what PFD.  Also, if you settle any of them, they won't remove them just report them as settled for less.  Use the Frequently Used Threads to get some sample letters to use and good luck! 

 

I started not to long ago and got 3 accounts deleted this week!

Contributor
J-Lee
Posts: 102
Registered: ‎05-28-2009

Re: URGENT- PLEASE -need help fixing my credit asap to get a mortgage loan


Amanda11984 wrote:

Hi everyone!  I am brand new to this site and I need a lot of help.  My husband and I just found out that our landlord wants to sell our house.  He wants to sell it to us, but if we cant get our credit up to where we have any home of obtaining a mortgage, he is puting it on the market.  Also, we really want to buy a home before the end of Nov. so we can get the First Time Homebuyers Tax Credit.  We have gotten just our Experian reports so far and our scores are me- 548, and Greg-566.  I know we need a 620 to even be considered for anything, right?  Is there any hope for us to get it up that far in this short amount of time?

 

Also - I sent PFD letters to every negative on our account, but mostly got no responses and the ones I did get said no.  Will it raise our scores to pay them anyway? 

 ok - I am going to list some of the items on our reports and hopefully some nice people on here will have some suggestions:smileyhappy:

 

 me-  first of all there is Collection Serice Center listed twice for an old doctors bill.  It is the same CA but different addresses.  Can I dispute this? Who do I write a letter to - the CA or the CRA? It says Recent Balance - $282 on each of them.

 

Next is Diversified Collections for a hospital bill with a recent balance of $155.

 

Next is M&I Bank for a credit card. Status says: Account Charged off.  $459 written off. $459 past due as of Feb 2007.

 

Next is Target-TNB with a credit card.  Status says:  Account Charged off. $380 written off.  $190 past due as of April 2009. 

Credit limit $200

high balance $380

Recent balance $190

 

NEXT- Verizon Wireless

Status: Account Charged Off

$562 written off.  $562 past due as of Aprl 2009

 

 

NExt WFNNB Victorias Secret

Status: Account charged off. $391 written off.

 

 

Greg - my husband

 

central credit/penn credit for Allegheny power

Status: collection account $61 past due as of Feb 2009

 

chase

status: transferred, closed

credit limit/orig amt: $2000

high balance:$2796

recent balance: N/A

creditors statement: Purchased by another lender

 

commonwealth financial for first usa bank (i think this is for the chase card above)

status: collection account $3196 past due as of Feb 2009

recent balance: $3196 as of 02/2009

 

collection service center for a doctors office

 recent balance:$65

 

Collection service center for emergency room visit

recent balance: $110

there are two of these but they have two different account numbers and i think they are two different things

 

midland credit mgmt for verizon wireless

status:collection account $401 past due as of march 2009

 

portfolio recovery  for dominion peoples

status:collection account $311 past due as of Apr 2009

 

Please dont judge us! we know we have been extremely stupid but are trying to fix it- we just dont know what to do.  We just need a lot of help and would be extremely grateful for any help you can give us. 

 

We can afford to pay some of these off but dont want to do it if its not going to help us get a mortgage by november.

 They are pretty much all scheduled to fall off between 2012 - 2014.

 

Thank you anyone who replies!!!!

 

 


 

Hi Amanda, I'm pretty much new to this whole do-it-yourself credit clean up myself, I'll let you know what worked for me, but keep in mind that everyone's situation is different. Before finding this forum, I paid everything off my reports except 2 medicals. My scores per MyFico were TU- 522 and EQ 517 in March. With some GW letters, phone calls to creditors and emails, I was able to get all but two to delete, those being Capital One and HSBC even though they were settled. I paid off 1 of those medicals and my scores have jumped to TU-598 and EQ- 603 at last check at the end of May. My hubby and I are hoping to buy this year as well and our lender is actually using other compensating factors to approve us for our FHA loan. I don't know where you live, but I live in Florida and my lender looks for a clean-up of all 3 CR's, no lates for the past 12 months, DTI, and income besides your credit score. So don't get discouraged, it will take alot of work, but this site has loads of information and helpful people actually willing to help us get it together. Most of them have been where we are and don't mind at all, so ask away!! Good luck!!
The Self-proclaimed....."Delete Queen"!!!!!!!

On my way to home ownership with the help of MyFico!!!
Valued Contributor
AndySoCal
Posts: 1,895
Registered: ‎04-07-2009

Re: URGENT- PLEASE -need help fixing my credit asap to get a mortgage loan

The duplicate collection accounts you should dispute as duplicate account and have it removed.  The charge off accounts I would start with the most recent ones first. These accounts are impacting your score more than the others. What I would do is call the creditor and see if they will agree to change the account to paid as agreed or paid in exchange for payment in full.  On the collection accounts deal with the original creditor if they still have control of the account and see what can be arranged. As before start with newest collection account(s). Be careful with the older derogatory accounts like collections and charge offs. If you just pay them off without some arrangement the account the account will update (to paid charge off or paid collection) at the bureau and could cause your score to go down. If a creditor offers to settle be careful again settled is considered a derogatory account and can hurt your score. I hope this helps
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