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Trying To Repair My Credit - Please Help

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Established Contributor

Re: Trying To Repair My Credit - Please Help

on the question of student loans....yeah i was in mortgage industry as a processor and jr underwriter. Your student loans need to have a good 1 yr pay history along with your credit history. May move up to 2 yrs so just beware. Also, if student loan is in collections, work on rehab to get out and on pay schedule because that is what the u/w will look for. Also, make sure you are counting the payments in your DTI for housing purposes when you apply. The only way they(mortgage lender) will not count it is if it is deferred for a yr from date of closing then the payment doesnt count against you. That is only if you apply for FHA. If you go conventional, they count it regardless if you are or are not in deferrment.  Also, I am with the other poster who said go to your billling and ask them to pull debt and work out pay off so that will come off credit. They will more than likely since you are an employee. Good Luck on the house. Please let me know if I can help or answer any questions. Oh, and FHA use to not credit score but you have to have at least a 580 now from what I am told. Before you could have  480 and as long as your pay history was good for last 12 months you were in. So much has changed with mortgage woo....
 


Start Score:493Current Score:510,540, 569
Goal Score: 700>>>>>
Message 11 of 17
Regular Contributor

Re: Trying To Repair My Credit - Please Help

I called and they will NOT rehab the student loan because it was a PRIVATE SL - Jerks.  I also tried the bit with my employer but they wouldn't pull it from my reports.  They only offered me a settlement.  So, I am PFDing the CA.  Hopefully, that will get me somewhere.  I have until mid-September because that is when the settlement offer goes away.  Hopefully, I can work something out with the CA before then.
TransUnion
505Date: 9/6/2008
Equifax
534Date: 9/6/2008
Experian
553Date: 9/6/2008
Message 12 of 17
Established Contributor

Re: Trying To Repair My Credit - Please Help

Smiley SadSorry but you know what.....you are pressing forward and that is all that matters. Let me know when you get it all done.


Start Score:493Current Score:510,540, 569
Goal Score: 700>>>>>
Message 13 of 17
Moderator Emeritus

Re: Trying To Repair My Credit - Please Help

CC- YMMV on the Auto side

NikJ4 wrote:
Is that cap 1 auto or cc? I have auto and have 1 late in last 12 months.



Message 14 of 17
Established Contributor

Re: Trying To Repair My Credit - Please Help

I know patience patience and more patience!!!!   I just sat down and looked at all 3 CR and saw that I have a total of 33 accts that need some form of work. I have some collections. A couple of charge offs and some late pays. I know for the most part I need to do goodwill letters to try and get lates removed. I start working next month and plan to start doing some PFD's. I am thinking about going with a 3rd party cause of how much I have to do but I guess I can get it done if I take my time. I just want to try and get back from a 427 (current w/eq) to as close to if not into the 600 club within year. That would be a great Christmas gift. I did set up current bills on bill pay and plan on no more lates. I also did a spreadsheet to see what I had regarding each credit report. I have some stuff also that is not on my credit that I need to pay. (Majority small medical stuff) I know to get everything that is p/d current. Then I start to tackle old stuff. Do I start with stuff on credit or not on credit or combination? Please dont ask me to list because I will have carpel tunnel before i am done. Stuff on credit is coming off next year 2009 and going back to stuff that will not come off credit until 2014.  My goal is to jump close to close to 580 before year up. December 2008 is my first step to road to happiness.


Message Edited by NikJ4 on 07-15-2008 10:31 PM


Start Score:493Current Score:510,540, 569
Goal Score: 700>>>>>
Message 15 of 17
Moderator Emeritus

Re: Trying To Repair My Credit - Please Help

My advice is to start with the biggest baddest stuff first-
 
Then the most recent items and work backwards in time-
 
DV anything not on CR- and if medical follow whychat process.
Message 16 of 17
Established Contributor

Re: Trying To Repair My Credit - Please Help

ok....what or how do you determine biggest and baddest?
Sorry to sound dumb but....


Start Score:493Current Score:510,540, 569
Goal Score: 700>>>>>
Message 17 of 17
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