I'll try to give as much to this story as I can. So, I apologize at how long this all is. I promise it has been much much longer for me....HAHAHA.
About 2 years ago, my wife and I decided that we wanted to buy our first home. At that time our credit was not really in the best of shape. My scores were in the upper 500's. So instead of being sucked into the Sub-Prime Mortgage, we decided we would clean our credit first.
Oct 2005 Scores - TU=560, EQ=585, EX=607
So, I go through and dispute certain things, make payments to some others etc etc...and my scores go up over the course of one year.
Oct 2006 Scores - TU=670, EQ=684, EX=689
At this point on my CR I still had a judgment ($10500) on my record as well as a collection account ($6900 balance) that was affiliated with that same judgment, but have setup a payment plan.
I still had 2 outstanding collections.
Collection #1 = 138
Collection #2 = 113
And I had 2 collection accounts that were paid and closed.
I also have a student loan in the amount of $3300.
I had 2 student loans that were defaulted and turned over to the student loan I currently have and am making payments on.
OK so forward to when we first apply for the mortgage and all pretty much remained the same, with the exception of making standard payments on all current accounts and student loan. My goal at this time was to have at least 2 of my credit scores at or higher than 700.
April 2007 Scores - TU=580, EQ=684, and EX=668
Being that they were not there and actually dropped, I decided to pay off the 2 outstanding collections. This obviously have hurt my scores a bit, but I HAD no outstanding collections left. I Satisfied a new collection that popped up in the amount of $450. The problem is, my scores did not take a little hit for paying all of this off, but took a nose dive.
June 6th 2007 Scores (these here are FAKO scores) - TU=612 , EQ=538 , EX=540
Here is my what my CR has in TOTAL right now.
3 open and current credit cards.
Balance is $220 with limits totaling about $15k. On-time payments last 24 months with no lates ever.
1 closed credit card, ended in good standing.
2 paid in good standing, but closed personal loans in the amount of $10k.
1 Charge off that is paid in full w/ zero balance.
1 Student Loan Current, good standing w/ balance of $3100 (14 months of on-time payments)
2 closed charge off student loans, that are now the above good student loan.
3 closed, paid in full "past due" collections
1 collection that shows balance of $150 (original was $450), but I satisfied in full, the CR just is not updated yet, it will take about 30 days.
1 judgment that was $10500
1 Collection, that is for the above judgment, with balance of $5800.
In the past 2 weeks I Satisfied the judgment in full, so that will update real soon. This then takes care of the $5800 balance on the collection, and that should update in 30 days.
Basically, the reason I am writing all of this is because I am doing everything I can to get my credit fixed and my scores up. I have paid EVERYTHING off, and in doing so, "killed" my credit scores. What can I do at this point to help my credit scores?
Please any help would be so much appreciated.
THANK YOU,
HomeBuyer44
Message Edited by HomeBuyer44: to format properly, so it reads better
Message Edited by HomeBuyer44 on
06-06-2007 11:03 AM