PLEASE HELP!!!! CREDIT ISSUES!

[Akosua]

Hello,

I just happened on this website a week ago and I am so happy I found it!!! but now here's my dilemma. I apologize for it being so long! I'll try to be concise.

2007-graduated from college, high cc balances only making minimum payments.

2008- auto loan for $20,000

2009-entered all ccs into a debt management program except student loan and car note- paid all off as of 04/2013

2011- applied for and denied car loan for credit union

April 2013- applied and got car loan for $44,000 from same credit union student loans deferred due to current enrollment in masters program also Took out 3 TL,

Chase freedom - Cl$3500, balance 2,000 Homedepot/citi-$1250, 0 balance paid off after 3 months, CC from CU offered to me with new auto loan- CL $500, 0 balance paid off before first due date.

Credit scores in Jan 2013 lender pulled-Equifax 676, Experian 649, Transunion 640

Signed up for equifax SW and current FICO score 651.

My goal is to hit 700 range before October 2013 in preparation for a fha mortgage app, how can I get my score up between now and then. 

My credit report from Equifax shows 9 negative accounts, all with 0 balances paid off and one paid collections acct from Midland (old tmobile phone bill). it shows as balanced 648, settled for $409.  Should I contact midland and ask them to remove it from my report? Will that increase or decrease my score? 

Also the negative accounts are all closed accounts that reports a balance and limit and are my oldest accounts. My most recent delinquency reported on those accounts is a 30 day late payment march 2011? Can I GW for the late payments to be removed from my credit report? Will it make a difference in my score with change or better to leave it as is? In the meantime I plan to pay down my chase freedom card to 4% util by next statement cycle. 

Thanks in advance for all your inputs!!!

[DaBears]

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@Akosua wrote:

Hello,

I just happened on this website a week ago and I am so happy I found it!!! but now here's my dilemma. I apologize for it being so long! I'll try to be concise.

2007-graduated from college, high cc balances only making minimum payments.

2008- auto loan for $20,000

2009-entered all ccs into a debt management program except student loan and car note- paid all off as of 04/2013

2011- applied for and denied car loan for credit union

April 2013- applied and got car loan for $44,000 from same credit union student loans deferred due to current enrollment in masters program also Took out 3 TL,

Chase freedom - Cl$3500, balance 2,000 Homedepot/citi-$1250, 0 balance paid off after 3 months, CC from CU offered to me with new auto loan- CL $500, 0 balance paid off before first due date.

Credit scores in Jan 2013 lender pulled-Equifax 676, Experian 649, Transunion 640

Signed up for equifax SW and current FICO score 651.

My goal is to hit 700 range before October 2013 in preparation for a fha mortgage app, how can I get my score up between now and then. 

My credit report from Equifax shows 9 negative accounts, all with 0 balances paid off and one paid collections acct from Midland (old tmobile phone bill). it shows as balanced 648, settled for $409.  Should I contact midland and ask them to remove it from my report? Will that increase or decrease my score? 

Also the negative accounts are all closed accounts that reports a balance and limit and are my oldest accounts. My most recent delinquency reported on those accounts is a 30 day late payment march 2011? Can I GW for the late payments to be removed from my credit report? Will it make a difference in my score with change or better to leave it as is? In the meantime I plan to pay down my chase freedom card to 4% util by next statement cycle. 

Thanks in advance for all your inputs!!!

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Hi Akosua and welcome to the forums, Best course of action is to get all your revolving debt down between 1-9% UTIL. Keep making on time payments. You can send GW letters asking if the lates or some be removed. It never hurts to ask. If they lates are more than 2 yrs old and only 30 day lates they are not affecting your scores as much anymore. 

[Akosua]

DaBears!!!!

my first response! thank you very much!

So if I succeed in the gw will it move the account from the negative account status? also what are my odds of getting midland to delete the account from my credit report and will it impact my score at all? 

[DaBears]

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@Akosua wrote:

DaBears!!!!

my first response! thank you very much!

So if I succeed in the gw will it move the account from the negative account status? also what are my odds of getting midland to delete the account from my credit report and will it impact my score at all? 

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Yes, if they agree to remove lates it will turn into a positive Trade Line for you. GECRB just did it for me on Care Credit account. How old is the collection from Midland? If it's recent you can see a bump in score. If it's pretty old maybe a small to none at all. It also depend what else is on your CR's. 

DaBears

[Akosua]

midland was reported 04/12 I called and spoke to someone who says it was a glitch in their system since mine was to be deleted and that they were going to send me a deletion notification soon.