mom24girls wrote:
Ok so my husband and I thought we would take advantage of the "low" real estate market and trade up our house. We have a smaller home, and with 4 kids and the great prices. BUTTTT- Our Mortgage guy pulled the credit and ummmm well, our score was 470 for him, 473 for me. WOW, and I don't mean that in a good way. Now I have a copy of the report, and I have searched all over this site, but its all foriegn to me.
Here are a few fact that I can see of the top- any helpful ideas or suggestions apprciated.
1. This is an equifax report.
I suggest you go to www.annualcreditreport.com and pull all 3 reports and compare them. The first thing is to highlight any mistakes(accounts showing balances that are paid, accounts that aren't yours, etc)
2. We did file ch 7 bank in 1999 - This is still showing up
Bankruptcy: Chapters 7, 11, and 12 remain for 10 years from the filing date. Chapter 13 remains seven years from the filing date. Accounts included in bankruptcy will remain seven years from the date they were reported as included in the bankruptcy.
CRTP -
3. It says that the number of inquires is adverly affecting credit score, but this is the 1st inquiry we have made.
Where does it say the number of inquiries is affecting your score? Is there only 1 inquiry showing? When you pull your free reports, look on them.
There will be two types inquiries, what are referred to here as hard and soft. They'll have them listed on your reports in 2 different sections, one is inquiries that are seen by all who get your report and affect your score(hard inquiries), the other section is inquiries seen only by you and have no affect on your score(soft inquiries).
The soft inquiries are account review inquiries(where an exisiting creditor reviews your credit periodically, promotional inquiries(those "pre approved" offers you get, etc)
Hard inquiries are from companies that have permission (as defined in FCRA), such as when you apply for new credit.
4. Our van payment has been late, but never more than 30 days.
Is it showing late on your report? Only if it is showing late on your report does it affect your score. If it is, you can try writing GW letters to have the lates removed.
5. Our mortgage has been late
How long ago and how severe are the lates? Single 30 day lates have almost nil affect after 2 years. You can try GW letters to have them removed.
6. There are a lot of medical bill showing up that I have no Idea what they are for.
Does it show who the original creditor is? What is DOFD, DOLA, and SOL? You'll find these dates on your free reports. Also, it may say "this account scheduled to remain until XXXX"
7. There is an open account that I have no idea who it is, but it does show balance of zero.
