Advice please on credit report

[stinastina]

i need a little help, please. I am working on getting my dti down so I can qualify for a usda direct loan. I pulled cct and this is what i noticed:

I have an au account reporting - should i dispute it ? One of the cra's is reporting a monthly payment amount and i don't want that counted into my dti.

The only loan I had was a ssl  with Navy that I expected to pay off this month. Well, since the balance was so small, navy paid it off early ! my scores took a huge hit.

fedloan started reporting my rehabbed student loans so i thought this would help and my scores would go up, but nothing happened. they are still low 600s. so i apped for another ssl which will report the beginning of august. does anyone know why my scores did not go up with the student loan ? it reported back to 

also i have paid down some accounts to 0 but one of the cra's is reporting a monthly payment. should i dispute that ? 

[Anonymous]

My comments in blue below.

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@stinastina wrote:

i need a little help, please. I am working on getting my dti down so I can qualify for a usda direct loan. I pulled cct and this is what i noticed:

I have an au account reporting - should i dispute it ? One of the cra's is reporting a monthly payment amount and i don't want that counted into my dti.

What is the balance and credit limit as it appears on your three credit reports?

Are you in fact an AU on someone's card?  If you are, then disputing it is not appropriate, since the dispute process is for false information on the report.  What you should do is try to figure out on who's credit card you are an AU.

Actually we can help you out better if you tell us the Date Opened, balance, and credit limit for each of the cards in your name and also each of the AU cards.

The only loan I had was a ssl  with Navy that I expected to pay off this month. Well, since the balance was so small, navy paid it off early ! my scores took a huge hit.

Yeah, paying an SSL to an extremely low balance is dangerous since it is quite possible that the lender will forgive the tiny balance and close the account.  What was the balance?  And what was the original loan amount?

fedloan started reporting my rehabbed student loans so i thought this would help and my scores would go up, but nothing happened. they are still low 600s.

That's probably because you owe almost the entire amount of your original loan.

so i apped for another ssl which will report the beginning of august.

That is unlikely to help you since you already have open loans reporting.

does anyone know why my scores did not go up with the student loan ? it reported back to 

also i have paid down some accounts to 0 but one of the cra's is reporting a monthly payment. should i dispute that ? 

See what I said earlier about listing all your cards for us.

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[stinastina]

On the au account (ex-husband) it shows the balance as zero but the monthly payment is $25 on EQ. On TU everything is zero. I just don't want that $25 added into my dti. I was removed from the account so that is inaccurate. are you saying I can't dispute inaccuracies ?

Yes, the balance on my student loan is $83,000. so I guess my scores will stay where they are until I reduce my credit card balances. I'm not going to list them as I don't see how that would be helpful.

[JBJBJB1]

Hi: 

Your BK is still relatively new, so it is likely going to be tough to get above the 650's for awhile. 

If your student loans were reporting late payments, especially, 90 days late or more, it is devistating to your credit.  If you didn't pay for awhile you were getting hit with the 90 day late payment term each month.  

If you don't want to be reported as an au on someone's account, simply ask that they remove you as an AU, you don't need to challenge that, unless you were added without your knowledge/consent. 

However, note that removing yourself from an AU account could also drop your score as you will have less accounts showing. 

Paying off balances and closing accounts drops your credit too, as you can see from the Navy account.

If all of your accounts have zero balances, this will also keep your score down, as you are not "using" credit. 

Best,

J

[stinastina]

My scores were 671, 666 and 646 before navy reported my loan paid off.

My student loans never reported late.

As I said it's my ex husbands card and I was removed but it's still reporting. The account was charged off but shows open on my report.

I have 13 accounts and a few that are over 2 years old.

[stinastina]

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@Anonymous wrote:

My comments in blue below.

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@stinastina wrote:

i need a little help, please. I am working on getting my dti down so I can qualify for a usda direct loan. I pulled cct and this is what i noticed:

I have an au account reporting - should i dispute it ? One of the cra's is reporting a monthly payment amount and i don't want that counted into my dti.

What is the balance and credit limit as it appears on your three credit reports?

Are you in fact an AU on someone's card?  If you are, then disputing it is not appropriate, since the dispute process is for false information on the report.  What you should do is try to figure out on who's credit card you are an AU.

Actually we can help you out better if you tell us the Date Opened, balance, and credit limit for each of the cards in your name and also each of the AU cards.

The only loan I had was a ssl  with Navy that I expected to pay off this month. Well, since the balance was so small, navy paid it off early ! my scores took a huge hit.

Yeah, paying an SSL to an extremely low balance is dangerous since it is quite possible that the lender will forgive the tiny balance and close the account.  What was the balance?  And what was the original loan amount?

fedloan started reporting my rehabbed student loans so i thought this would help and my scores would go up, but nothing happened. they are still low 600s.

That's probably because you owe almost the entire amount of your original loan.

so i apped for another ssl which will report the beginning of august.

That is unlikely to help you since you already have open loans reporting.

does anyone know why my scores did not go up with the student loan ? it reported back to 

also i have paid down some accounts to 0 but one of the cra's is reporting a monthly payment. should i dispute that ? 

See what I said earlier about listing all your cards for us.

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I just wanted to let you know I got a 12 point increase when my Navy loan reported.