09-24-2012 09:44 PM
My husband and I lost everything about 5-6 years ago due to serious health problems (he ended up getting a heart transplant).
There are a few things on the credit report we need help with. Please excuse me if I don't know all the terms etc used but I will explain it the best I can.
Our mortgage: We were foreclosed on (told to get out after missing one payment in 8 years). The last activity was shown at 10/07 (one year after our last payment was made). They did sell the house and are still reporting each month. Is there anything we can do about this or just have to wait it out? We have his COE from the VA and are wanting to purcahse a home but we have to get some of this takes care of first.
Auto loan. His truck was reposessed 2/2007. HSBC sold the account to Credit solutions corp. They are reporting it twice. They have the same info on both accounts but have the account number on one and HSBCAUTO- and the same account number as the other account. Can we do something about this?
Also there are a lot of unpaid medical. But one is showing as a credit account. Now it is with the same agency (Central Financial Control) as the others but they have it listed as a credit account instead of unpaid medical bils like the others.
Lastly, the report I pulled told me when things would be removed. The one the lender pulled of course did not. I have marked everything but some of the dates I don't understand. I know it is generally 7 years, can anyone tell me 7 years from what date? Last reported? Last activity or payment? If it is last reported and they keep reporting for years like they have it will never go off and we can never start over.
Also what is the BEST way to rebuild credit. We don't want any large payment like vehicles, we paid cash for our vehicles and do not want payments. But something that would help raise the FICO and not really effect our pockets. We have paid cash for so many years payments really scare us.
09-24-2012 11:40 PM
The CRTP is set by the DOFD of the account. That is the first time it went delinquent and wasn't brought current. The time period for this is 7 years + 180 days. Now when you look at your reports. EQ will list a DOFD and TU and EX will have an estimated exclusion date.
You say these are mostly from 2007, that plays to your favor due to the fact that these are aging accounts.
You talk about payments, actually the best credit scores are from having available credit and not necessarily using it. A secured card is a good way to go. You can put money on it and the money is still yours.
Go to the Rebuilding Credit Forums and start asking questions on each of your negative Trade Lines. Always people in there waiting and wanting to help.
Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.