@mwb1963 wrote:Hello,
I would like to refinance my house which is paid in full. Biggest reason I want to do it is so I can buy in cash a newer vehicle I so desperately need
My general scores I can't remember all of them I think the lowest was 518 highest was 603 and middle might have been 560ish. Not sure if 580 is the lowest score you need to refinance . I have used credit repair companies in the past. Spent a lot of money with very little results. I don't know much about credit and how to do it myself. There are things I could afford to pay off. I just don't know if I pay them off can I get it deleted once paid off or how that works. Also two things I can't afford to pay off is two repossessions. One is from 2013, I thought it should be falling off by now but they keep redecorating it. It was just updated earlier this year so not sure if that means it won't fall off. Anyone know? My other repo is from 2018. I can't afford to pay that off. Balance is a little over 3600. Could some please give me suggestion? I really don't know a lot when it comes to fixing credit
I do by the way have 3 positives on my report
2 secured cards and kickoff. Any help would be much appreciated. Thank you!
First off, Welcome to the boards @mwb1963
Unfortunately, many of those credit repair companies bombard creditors and credit reporting agencies with disputes. This tactic isn't the best way to handle and discussion of disputing accurate information is against the rules around here (just F.Y.I. incase you missed it in ToS).
For the most useful help with your questions, please get a copy of your reports from https://www.annualcreditreport.com
you should compare all three (Transunion, Equifax and Experian). If you've never used the site, be aware you will either want to save a pdf copy of each report or print each report; once you leave the report you can't go back and see it again for free until a week has passed.
For now, you can request a copy of your reports every week.
Armed with your reports in hand, if you would share the good, the bad and the ugly those of us that are familar with a particular creditor will offer you advice on how to correct any issues they see.
For best results having everything in the same format is beneficial.
Original creditor / collection agency / age of account/ date of first default (if negative) / balance / credit limit
The above format fits collections best, but you can leave out the areas that don't apply with chage offs or accounts in good standing. For me it is easier to sort what you provide if you break them up into categories: Good, accounts in good standing.
Bad, accounts in the negative section of your reports-- typically accounts with late payments. Could be good to also include the number of 30+, 60+, 90+ and 120 day lates reporting.
Ugly, collection accounts and charge offs if they apply.
With the above information, I'm sure we can get you headed in the right direction. Everything on your credit report can be fixed with enough time, money (paying debts, not credit fixers) and energy.
@mwb1963 sorry for the delay in getting back to you.
MyFICO has access to your scores, and is arguably one of the better places to get your scores from.
The reason I suggested getting your reports from https://www.annualcreditreport.com/ is to the best of my knowledge, they are the only source that shows you everything on your reports.
Not all reports (even the ones you pay for) show everything you need to know so you can spend your time, money and energy on the correct parts of your file.
For example, if we only know that someone owes $400 on an old medical bill; there are people here that can help you figure out how to remove it (they dissapear in July 2022 F.Y.I.)... but if we know that Bill has a Date of First default of June 2015, we know that negative doesn't need as much energy or money put towards it because it's ready to fall off your report.
Same as an account that shows estimated to remain on file until July 2022, we know a phone call can be placed to Experian and Transunion to ask for early exclusion and we don't have to worry about that negative anymore.
These dates are only accurate through the FREE https://www.annualcreditreport.com/ website. Other websites I've scoured through (and I'm sure I haven't seen them all) filter out what they feel isn't important or provides no value to help them get more of your money.
If you get all three reports, you can combine their information and know what is reported where, and you might even find an old account that shouldn't be on your reports anymore that would be relatively simple to have corrected.
The more information we as a forum have about your file the more detailed the help we can offer.
Please do NOT share any personal information, no-one here should ever ask for SSN, date of birth, your address or your full name (with the exception of calling tech support-- I don't know what they need).
@mwb1963 wrote:Hello,
I would like to refinance my house which is paid in full. Biggest reason I want to do it is so I can buy in cash a newer vehicle I so desperately need
My general scores I can't remember all of them I think the lowest was 518 highest was 603 and middle might have been 560ish. Not sure if 580 is the lowest score you need to refinance . I have used credit repair companies in the past. Spent a lot of money with very little results. I don't know much about credit and how to do it myself. There are things I could afford to pay off. I just don't know if I pay them off can I get it deleted once paid off or how that works. Also two things I can't afford to pay off is two repossessions. One is from 2013, I thought it should be falling off by now but they keep redecorating it. It was just updated earlier this year so not sure if that means it won't fall off. Anyone know? My other repo is from 2018. I can't afford to pay that off. Balance is a little over 3600. Could some please give me suggestion? I really don't know a lot when it comes to fixing credit
I do by the way have 3 positives on my report
2 secured cards and kickoff. Any help would be much appreciated. Thank you!
My advice is simple: please don't do it.
1. You shouldn't borrow against your home. If they foreclose on it, you're homeless. Please don't.
2. Any loan you get will be unfavorable due to your low scores.
3. If you really have to buy a vehicle, buy one you can afford without borrowing. No more repossessions. Please.
