Trying to build up credit to qualify for FHA home loan

[Anonymous]

I'm attempting to rebuild my credit in order to qualify for a home loan. My spouse has good credit (730 mid FICO) but we can qualify for a home that we'd like with both our incomes combined.

My current scores:

Transunion FAKO: 595

Equifax FAKO: 590

Experian FICO: 564 (this should update on the 20th with a higher score)

My student loans used to be in default. They have now been rehabbed and I'm just waiting for Experian to rescore.

I currently have ~$20k in student loans and am on an income based repayment plan of $0 monthly. These are currently in good standing.

Goods:

- I have a Capital One Quicksilver One with an $800 credit line and no lates. I've had this card for about a year.

- I am an authorised user on my spouse's CC's. In total our utilization is under 5% with no lates. My spouse's CC is my oldest account.

Baddies:

- $145 Verizon bill in collections. It was opened 10/15

- $64 medical bill in collections. It was opened 9/15

- $91 medical bill in collections. It was opened 10/15

- $277 utility bill in collections. This bill is past the SOL and I've disputed it. It keeps getting removed from my credit report when I dispute and then they put it back on as though it were a new debt. I've reported this to the Consumber Finance Protection Bureau.

- $1,173 medical bill in collections. It was opened 3/12.

- $284 medical bill in collections. It was opened 1/11.

- 186 medical bill in collections. It was opened 10/14.

I'm considering sending out debt validation letters and attempting to work with the OC on my $64 medical bill and perhaps Verizon.

With all of this information, what would you suggest be my next step?

Thank you.

[Anonymous]

While the utility bill might be out of SOL for a lawsuit it can still be reported on your report.

[Anonymous]

I've been able to get medical collections off by paying the OC and having them recall it from the CA. The same methodology could be applied to other collections as well.

[surferchris]

---

@Anonymous wrote:
I've been able to get medical collections off by paying the OC and having them recall it from the CA. The same methodology could be applied to other collections as well.

---

Yes, this advice works.

[Anonymous]

I also suggest buying your 3 scores from myFico. These will show your mortgage score as well which may be higher (or lower) than your Fico8 score.

[RonM21]

I'm with the orevious posters. Try getting those collections kff by PFD kr GW if paid, as well as getting your true scores to see where you stand.

[Anonymous]

Doubtful you will be able to work with OC on the older medical bills. Google whychat hippa process and contact him he will personally help you with the medical bills.

[Anonymous]

The other thing I wanted to mention is that even though your student loan payments are $0, FHA will factor 1% of your balance for a payment and include in your debt ratio.  That really has nothing to do with your credit, but wasn't sure if you knew about that.

[Anonymous]

I'm jsut looking into that now.