Please help - need additional advice

Anonymous — Tue, 28 Jul 2009 17:44:54 GMT

OK, here is the situation. After purchasing a house 4 years ago, my wife and I purchased TOO much furniture on debt and I got in over my head. After being late on payments to my credit cards (not 30 days, but just late), they jacked the rate up to 25%+. The payments became too much to handle. About 2 years ago, I ended a CCCS with $25k in CC debt. When I purchased my house my scores were in the 660 range. Now my equifax is 598 and TU is 623. That was with only $4k in CC debt remaining! Hate to see what it was 8 months ago! Here are my disputes:

-I have 19 reported late payments - 16 were reported on account under the CCCS, during the time I was making payments. 8 are with GEMB - dicks, ashley furniture, best buy...

-I have 5 collection accounts - all related to a doctor bill for MY WIFE (my insurance).

Mortgage - $226k ($30k is second)- ok, never late

Installment loans - $4k vehicle - $14k student loan (step daughter)

-I have paid all of the $4k in outstanding revolving accounts - so I am now completely debt free.

Here is what I have done so far:

-sent dispute letters to TU and Equifax disputing ALL late payments and collections.

-Contacted my CCCS explaining the late payments to CC's under THEIR program

-Contacted my vehicle loan provider to dispute the one late payment (looking to purchase a car).

I was looking to purchase a vehicle, and of course with that credit score my payments would be through the roof. Another situation I have is my 5 year arm will be coming due in July 2010. I need my credit score in the mid 700 to keep the payment in the same ball park as it is now (5.5%). Questions:

-What else could I be doing to speed up the process?

-How much do you expect my score to increase with my revolving balance now at $0?

-If just the 5 collections were removed, what would my score increase?

-If I get relieved of the 16 past due, expected improvement?

-is there anyway to get these creditors to report other than the monthly time frame?

Please ask any additional information you might need. I will be glad to provide anything! I want to try and get my score to the mid 600's before the end of August (when they report again).

topic Please help - need additional advice in Rebuilding Your Credit

Please help - need additional advice