New Contributor
jbhenrietta
Posts: 72
Registered: ‎03-09-2009
Re: Help in understanding debt to credit ratio and the effects on scores
I was cross-eyed as well. Thank you for replying! We have been working on paying the debts down. As far as the installments, there is actually only 1, not 2. And the ratio should be a little under 100% after reporting this month. I know that will not make any difference in scoring, however it will make the total util decrease some. We also just paid a judgment that was on the cr, so it will update to satisfied, crossing fingers to have it deleted all together, but not holding my breath either. It has been a work in progress. There is a med collection that hit 01/09 but will be taken care of and with hippa laws, should be deleted. There is another collection from 08/08 still reporting from NCO, and will also be paid at the end of this month. I will have to send gw letters faithfully as they are swearing they will not accept a pfd. So, we have made alot of progress, however the biggest wall we were up against was paying the judgment because there was not ifs and or buts getting around not paying that in order to get financed. Any pointers as to what exactly we need to focus on 1st would be appreciated. As you stated, and from everything I have read on here, util should be #1. We are very motivated to get financed for a home with the shape the market is in. The more progress we make, the more nervous I get about something back-firing. Thanks for your help!