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Like FICOnater2007 said, don't just pay a collection, medical or otherwise, believing that the FICO Fairies will carry it off to Neverland. Paid collections hurt as much as unpaid collections. Counterintuitive I know.
My rule is NEVER pay a collection or chargeoff unless you get a PFD or you have to pay it--either to avoid a lawsuit or to get a prime mortgage. Even with a prime lender, you may not have to pay it if you're making payments and the payments are being reported.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=36174#M36174
Do you and your fiance only have the three CCs: $350 CL, $500 CL secured, and the new one? A few thoughts on how to get higher CLs and lower APRs.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=4120
If your goal is home ownership in 2 years, check out the Friendly CCC link in my sig. CUs, FCUs in particular, are very generous. More CCs equals more available CL. It's a way to "fatten up" you and your fiance's file. CUs can also be very generous with mortgage terms.
Finally, I'm not one to preach (being a borderline pantheist), but get married BEFORE you buy a house together and get married BEFORE you run up any debt for your guy in your name only. Another poster recently got stung hard.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=30245#M30245
@Anonymous wrote:Like FICOnater2007 said, don't just pay a collection, medical or otherwise, believing that the FICO Fairies will carry it off to Neverland. Paid collections hurt as much as unpaid collections. Counterintuitive I know.
My rule is NEVER pay a collection or chargeoff unless you get a PFD or you have to pay it--either to avoid a lawsuit or to get a prime mortgage. Even with a prime lender, you may not have to pay it if you're making payments and the payments are being reported.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=36174#M36174
Do you and your fiance only have the three CCs: $350 CL, $500 CL secured, and the new one? A few thoughts on how to get higher CLs and lower APRs.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=4120
If your goal is home ownership in 2 years, check out the Friendly CCC link in my sig. CUs, FCUs in particular, are very generous. More CCs equals more available CL. It's a way to "fatten up" you and your fiance's file. CUs can also be very generous with mortgage terms.
Finally, I'm not one to preach (being a borderline pantheist), but get married BEFORE you buy a house together and get married BEFORE you run up any debt for your guy in your name only. Another poster recently got stung hard.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=30245#M30245