New Contributor
kingmidas
Posts: 51
Registered: ‎01-26-2012
Frustrated and don't know what to do: Advice needed!

I had a lender pull my transunion report (04 version): Here's my situation I had a bankruptcy in 2007, since then I fell into financial hardship when my mom got sick had to retire early and had to help with the household just when I started to try and rebuild my credit so I have all paid chargeoffs from first premier, plains commerce bank, ally auto, verizon wireless, credit one.  I also have 2 collections (1) medical and another from Portfolio. The last negative was from 2011.  I have tried many rounds of goodwill with a little success but none with these companies.  I then decided to go to school instead of working deadend jobs and graduated and started working end of 2010 but the auto charge off was already done and reported in 1/11 and an old 138 medicall bill from 2010 reported 11/11.  The rest of the charge offs go from 2007-2009. I have started rebuilding this summer 6/12 and I have 7 revolving cards, 1 auto installment, a paid secured loan, and many student loan installment that are deferred. The loan officer told me I would have to write letters of explanation and he can't really say how it would pan out because of the negatives after bankruptcy so I am now very wary that I will not be able to get a loan until everything falls off around 2018. My last lender experian pull in 6/12 was 671 and current myfico equifax 644 and lender pull tu 04 as of 12/3 is 677.  He said my income is fine and not the problem at all.  Does anyone think its possible or has anyone had a similar situation and was able to obtain a mortgage anyways. Any advice is appreciated!


Starting Score: myfico.comEQ 570 TU 614 EX (fako/experian.com) 565 5/24/12
Current Score: lender pulled EQ 672 TU 722 EX 692 as of 7/2/13
Goal Score: 700 across the board

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Valued Contributor
tooleman694
Posts: 2,296
Registered: ‎08-25-2011
Re: Frustrated and don't know what to do: Advice needed!

I filed for BK, didnt pay it and it was dismissed. Then I managed to mess up what little credit I could get after the BK.

 

Just recently I have gotten things in order. Scores are in the upper 600 range and I made it through underwriting.

 

It is probably just an underwriter call, they may make you write letters explaining that happened.