@homebound14 wrote:Hi everyone, I decided it’s time to write out all my baddies, face the facts and start trying to salvage my credit. I’ve seen some amazing things happen and hope for the same success story soon. I am currently sitting at a 580(TU), 560(EQ). My goal is to have at least a 680 across the board by Feb 2015, and buy a house. Are you going to try FHA/USDA or any other govt. guaranteed program? If so, you need to check out their requirements (minimum score 620-640, no judgements, no liens, no new collections etc)
10 baddies listed on TU
13 baddies listed on EX
Baddies
Capital one bank credit card –C/O AS OF 5/3/2009 Try to get a pay for delete agreement in writing
Credit limit $500 owed 1.625 due to delete 9/2015 (sold to midland) Try to get a pay for delete agreement in writing--Midland can be tough to deal with
Centerpoint energy owed $27 will pay at end of month- agreed to delete Good!
Judgement-2,000 as oof 11/2/2011Can you pay it and get it vacated/removed?
American medical coll- med debt $143 as of 9/01/2011Try to get a pay for delete agreement in writing
Hsbc- sold to portfolio recovery $650 as of 5/31/2009 due to delete 7/2015 Try to get pay for delete agreement in writing--
NATIONAL CREDIT AUDIT CORP: Apartment complex $2,081Is this the same debt as the judgement? You can't have any bad rental history for USDA loans
Installment loan opened 6/2012 paid as agreed until 7/2013 showing 3-30day lates Request a goodwill deletion of lates
Chase bank C/O AS OF 5/13/2009 credit limit was $500 owed $1,030 dye ti dekete 9/2015 Try pay for delete
Enhanced recovery- sold from AT&T owed $592 as of 11/2012 Try pay for delete
First financial bank –last payment made 5/2005 $705 owed due to delete 05/2015 Try pay for delete
AFNI, INC. AT&T –C/O 105 past due as of Dec 2012. (EX) Try pay for delete
State of texas/student loans defaulted 180days Try to get a hardship deferrment, then goodwill letter to delete lates if possible.
UNITED REVENUE CORP -142 past due as of Apr 2012. (medical debt) Try pay for delete
Good news is at least you are giving yourself time to rebuild your credit. I am just about the same position, but I am looking to get a mortgage approved before June 2014---still 3 unpaid accounts on my report.
Personally, I would start off with the most recent baddies and work your way to the older ones (they may fall off before you finish rebuilding) The older they are, the less impact they have.....Do some research on the judgement and see if you have the option to get it vacated or not...the presence of a public record drops your score whether its paid/satisfied or not, but the mortgage lender will want to see that it is paid.....for USDA they say paid more than 12 months ago. Lastly, make sure that you are staying current on all of your open accounts....don't let anything go into collections while you are rebuilding. Its a balancing act. Best of luck!!!! You can do it!!!
012019 Fico8/Mortgage Score: 
@homebound14 wrote:
Also when you do a pay for delete do you offer the full balance or try to negotiate?
-sorry in advance for typos on cell
USDA doesn't have a minimum score requirement, but lenders do.....so, its like watching both at once. No easy task; trust me.
Try to negotiate first...ask if they will take a settlement...work them down as much as you can like 25-30% if possible. Especially if they refuse to delete it after payment. If they agree to delete for full payment only....you have to bite the bullet. The deletion is most important.