Im a newbie! Help me if you can:)
10-02-2012 10:53 PM
Hi guys! Im a newbie and im sure that says it all! I have been working on my credit for the last year of so...I found this site and hope you guys can advise me on now how to agressivly go about working towards my ultimate goal of applying and being accepted for a mortgage! The majority of my collections are medical collections
So I pulled my scores and Transunion has 640, Equifax shows 582 and I believe Experian was 530.
I have a total of 16 adverse accounts for a total of $5140.00
3 accounts have been paid with a zero balance
5 accounts with a total of 1460 are due to fall off by 6/2013
The remaining accounts are as follows:
2 collection accounts from Creditors Collections for a total of $347 1 collection account from Enhanced Recovery for a total of $657(only non medical collection)
4 collection accounts from Harris & Harris for a total of $2366
1 collection account from Medical Business Bureau for a total of $310
I have 3 sallie mae accounts that show as closed with a zero balance (I had them consolidated into one account)
I have 3 credit cards that have a total of 1100.00 limit which i only utilize each card up to 30% and have never been late.
I want to start paying these accounts but am a little confused for the accounts that are due to drop off on 6/2013 should I deal with those first?
My next question is with the medical collections do I try to pay them in full with the OC with a PFD?
And last but not least should my Sallie Mae be showing up as closed and paid in full on my report if they were consolidated and now the consolidated account showss as a account under my listings as a good standing account?
When i talked to a mortgage loan officer she advised me to take any collections and settle and try to pay as little as possibe, that all they want to see is the account as paid regardless if its settled or PIF....so i dont know how to handle the collections accounts because i read somewhere if i settle the date of last activity will "reage" the account....
Thanks for any help guys!