HELP ME!! TRYING TO BUY HOME

[Anonymous]

Hello,

First I wanna say thanks to everybody for putting time in on reading this post. I am trying to purchase my first home. This has been such a long and excruciating drawn out process. A break up years ago left me with a ton of collection accounts as well as late payments and etc. My scores as they stand from myfico are TRANS 573, Equifax 543 and EX??...I have five collection accounts with balances in which small payments are being made to those. The rest are paid in full. I recently was able to have two companies that show collections on my report to delete off my credit. I have three open credit cards with no balances. Will these deletions take me up to the 620 that I need to purchase a home?? Any recommendations on what I can do??

Thanks a ton,

Josh in CA....

[llecs]

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

and What Steps Do I Take - great for learning the repair process.

For the unpaid CAs, if you have the money to PIF, then send each a PFD letter. Per FICO scoring, it doesn't matter if you owe $0 or $10,000, the damage to your score is equal. So paying on them won't help other than satifying a debt. A PFD, if accepted by them, would improve your score. If you don't have the $$$ to PIF, then keep doing what you are doing.

For the paid $0 balance CAs, send each a GW letter asking them to delete.

You mentioned you have lates. If these are on current and open accounts, then send a GW letter asking them to remove the late(s). If these lates are 30 day lates and are older than a couple of yoears, then I'd ignore it. If you have any lates 60 days or greater, then send a GW.

[Anonymous]

llecs,

Thanks so much for you response. The unpaid collections on my report are unpaid because they do not want to budge. I tried to negotiate PIF with them and they all say no. Now the ones that are PIF I sent out GW letters to and have not gotten any positive responses as of yet. I have also sent GW letters to see if they can get rid of the lates and have not gotten a good response on that either. Now I recently was able to have two collection accounts that are less than two years old

 deleted off my report will this increase my score, if so, by how much?

Thanks Again,

Josh in CA

[Anonymous]

Just performing a sanity check here.

How old are the collections? What are their DOFDs? If you don't know, take your best guess?

[Anonymous]

Hello,

And thank you very much for your repsonse. Both collections were a year and a half old. I believe the DOFD is around two years??

[smallfry]

OP I don't think you could expect 620. Sorry.

[Anonymous]

Hello,

I just got another two deletion letters from collection accounts that just came up as of 03/01/10. Will this get me to 620?

[fused]

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@Anonymous wrote:

Hello,

I just got another two deletion letters from collection accounts that just came up as of 03/01/10. Will this get me to 620?

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After those collections are gone, do have any other bad stuff on your reports? If so, what are they and how old are they?

[Anonymous]

Hello,

Thanks for your response. Yes unfortunately I still do have things on my report including...Four CA's that are unpaid due to the fact that they won't delete for PIF. I have two CA's that are paid in full and still showing and the company refused to delete. I've tried GW letters on all. They are from 2006-2009. In the last twelve months a total of two to three thirty day lates. I have some closed accounts that are PIF that are over three years to six years old. Thats about it for the negatives.

[fused]

I think 620 is possible on TU, but not likely. Sorry!