Personal Statements

[Anonymous]

2 years ago I lost my job. With savings and help from family I was able to keep pretty current w/mortgage, credit cards etc. I started a with a new company that pay 100% commission. Late last year I ran out of money and fell behind on most of my bills. I have been 60 days late w/the mortgage and car loan. On some I am still trying to catch up from being 90 days late. My cards are at the max limits and my score has dropped to below 500.

Will writing the above explanation as a "Personal Statement" on the 3 credit bureaus reports help at all?

[Anonymous]

Help in what ways? Scores- no       manual review-- possible

However, you can also tell whoever is manually reviewing your CR.

I am unsure, but I thought you could only add statements if you disputed something and they verified. I could be wrong though.

Have you tried sending GWs?

Message Edited by sidewinder on 04-10-2008 09:09 AM

[Anonymous]

Personal statements can be added at any time.  They are rarely seen, even more rarely read, and even more rarely given any consideration in lending decisions.

In any case, the personal statement you are considering, IMHO, does not help your case.

Message Edited by cheddar on 04-10-2008 12:14 PM