Rebuilding Your Credit

[daninicole]

I hope to sell my condo this month. Want to buy a house six months to a year and six months. My husband has ok credit but mine is not so good (560s). My baddies are high utilization, one charge off (few months old) a tax lien from 2007 a judgment form 2010(paid) and a few lates from closed accounts. Sme of the closed come from student loans which I have started payment in so I am really not ure if they will change their status. Anyway I would like to be at a 650 or higher within the timeframe of 6 months to a year and a half. What should I do to make this happen?  Thanks!!!!

[electra]

I would tackle the utilization first. Get it down to 9% or lower.  That should give you a nice bump.  Is your tax lien state or federal and is it paid? GW letters for the lates.  Is the charge off paid?  Is it listing with the OC or CA?  

[daninicole]

Tax lien is state. I live in ga and bought a car fromSC and I honestly don't even know how I ended up with The lien. the only reason i even know about it s through credit pulls.And no it is not paid.  I'm thinking the charge off is with the OC but not sure.

[guiness56]

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daninicole wrote:

I hope to sell my condo this month. Want to buy a house six months to a year and six months. My husband has ok credit but mine is not so good (560s). My baddies are high utilization, one charge off (few months old) a tax lien from 2007 a judgment form 2010(paid) and a few lates from closed accounts. Sme of the closed come from student loans which I have started payment in so I am really not ure if they will change their status. Anyway I would like to be at a 650 or higher within the timeframe of 6 months to a year and a half. What should I do to make this happen?  Thanks!!!!

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You would need to take care of the tax lien.  Those don't go away until they are paid.  Once paid, it will stay 7 years.  They also have a big impact on your score.  You can contact the tax accessor or where ever it came from about paying it and getting it removed.  Without it at least being paid you probly won't be able to get fiananced.

The new CO is hurting your score.  If you have the money to pay it ask for a pay for delete.

What does the CO TL say?

Work on paying down your utilization.  You should see your score go up when utilization goes down.