Regular Contributor
Posts: 230
Registered: ‎09-22-2012
Need help getting credit from 400 range to 580! Out of ideas!

Hi all. I have been viewing these forums and taking your advice for a couple years. At this point, we are looking to buy a home next spring. My husband has an awesome job, and I am almost done with school. Our debt: We owe about 5K in credit cards (5500 limit total between 5 cards), have two auto loans thru GM financial (owe 39K, vehicles worth about 45K), have student loans (12K), and 2 revolving credit lines that we owe about $900 (limit of 1300). We have had several medical collections, all have been paid in full. He had one judgement filed for a college bill that was from 1999, but they didn't file a judement until 2008, which we paid as well. One collection for an old insurance bill, also paid, and a charged off credit card last year, also paid in full (my bad, my husband had two capital one cards and I totally forgot about the second one as it was a small limit and I just spaced adding it to auto pay). We also have had two recent (June) late payments, both becuase my autopays were rejected by the bank after my husbands company changed their deposit ID following a merger and the deposits didn't jive with the associated payments (autopays are biweekly with payroll). I caught the error after I got a late notice but it was too late. Called Cap one and they would not remove the late pay on either card. We have otherwise paid EVERY loan/card payment on time for no less than 5 years. My husbands student loan was late awhile back, becuase it came off deferment and I was throwing away the notices thinking it was one of those dumb disclosure notices that they send constantly. However, the bank agreed to remove the lates since we have always paid on time. We filed bankruptcy in 2006, as my husband had cancer (at age 18) and had a hundred thousand dollars in medical bills due to not having insurance. The bankruptcy was only on medical bills as we did not have any credit card debt then, and we reaffirmed our auto loans. Also, all of the debt in the bankruptcy is off the report, as it was old debt from 1999, and only the bankruptcy remains on the file. We owned a house 2005-2009, and then sold. Never had lates with them either. HOWEVER, his credit score is awful, EQ 417 TU 480 and EX 462. I thought getting the student loan lates deleted would do wonders, but it literally did not budge his scores up at all. We need a 580 on 2/3 bureaus by March. I have disputed everything in his file multiple times, first online, then with handwritten letters. I don't know what else I can do. We will be paying our cards off before March, about 600/800 a month between now and Feb. Can anyone offer me any advice on what I can do? I am out of ideas! Any help wil be appreciated. Our debt to income ratio is only 9%. I have had soooo many bankers look at our credit and tell me they are puzzled by the scores becuase we have a really good payment history, 11 years of established credit, and average account ages of over 5 years. Would it be wise of me to hire an agency like Lexington Law, or no? Please help if you can! 

Starting Score: EQ 416 TU 498 EX 468 Lender Fico's July 2012
Current Score: EQ 674 TU 679 Ex 686 EX
Goal Score: For now: 640s

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