sanclemente24

Two CO's from several years ago, that won't drop off my report for another five years, but they're past SOL by a year. There was a third account, which was settled as PFD with the JDB, they were able to get Chase to remove the CO also, guess I was lucky. The other two JDB's couldn't validate, so collection accounts were removed over a year ago. Now fico's are in the high 600's, but I still can't get credit with the CO's on my report. I have two secured cards at $1500/ea, one unsecured card at $3000, 1 secured loan at $4000, and just tried a mini spree after seeing my Fako's bump into the low 700's - instead of approvals, I received two declines, one for a cellphone through Motorola, and one from barclays - the barclays stings, since they only pulled TU, and my TU Fico (not Fako) is a low 700. Tried reconsiders with both, both denied, citing bad credit history, and not enough credit. I'd have a bit more flexibility to rebuild with these CO's gone, but when I hit chase with DV letters two years ago, they validated. Tried a goodwill letter, didn't go anywhere, moved our business banking to Chase and had our personal business banker with Chase try to remove the CO's early from his end, but he wasn't able to. Aside from crossing my fingers and sending a new round of DV letters, does anyone have a suggestion? Also, any other ideas on rebuilding? I'm working again, so I have money coming in.

My mortgage application has been sent to underwriting; income, credit, etc. are not an issue, but I'm concerned about rental history: I was renting a house from a friend's family for 3 years (month to month, no lease agreement), but they asked for cash, and I have no receipts. I moved out of this house in the beginning of September, gave the keys back, and the home was inspected to be in good shape. About a week after moving out of the house and handing back the keys, a pipe burst under the kitchen sink, and flooded the house. They're blaming me for this, even though I have no access to the house, and was in another state when it happened. Because of this, it seems unlikely they're going to help me out with either retroactive rent receipts, or confirmation when called by the mortgage company. I moved out of a college dorm into this house from my friend, paid cash for 3 years, and am now crashing at another friend's condo - I have no rental history, although I'm currently renting a warehouse for my business. I want a smooth loan process, so I'd like to get some input before calling my loan officer and asking him about this; am I correct in assuming rental history will be an issue? Also, when I spoke with my loan officer last week he asked for my mailing address for the loan docs, I gave him the address to my friend's condo, and now it's showing up as a new address on my credit. I feel like I need to call the loan officer, get this address deleted by him, and discuss this issue so it can be resolved before it delays my loan. On the application, where it asked for landlord information, I provided the correct contact info for my friend's family, but I've no idea if they will confirm, make up some story since they're pissed, or what. Aside from rental history, the loan should be smooth sailing - the condo is $115k, while I was pre-approved for $350k, ficos are in the low 700's, loan is a 30yr fixed with 10% down.

California, last payments were June-July 2009. SOL is a defense against being sued, the JDB can still ding-a-ling with your credit, but you can usually settle for next to nothing if the account shows up, since the paper is effectively worthless.

It's been 1 month since my last Charge Off went past SOL (4 years since payment), one of the CA's tried to add an account at the last minute, but it dropped off last week without protest. No JDB's reporting, Fico in the high 600's and one just over 700, 3 Secured Credit Cards and 1 Unsecured. My credit is upgraded to 'fair'

Brian called it, went forward with my agent's mortgage referral, and my credit's not the issue, it's documented income.. My LLC wasn't incorporated until Oct 2011, so the avg income for 2011 and 2012 returns is $12398 + $60185 = $36k; He says I can be approved, but only for $165k, because of income. Fico scores are 671 / 663 / 711, debts are $157/mo; lender suggested contacting a local credit union, to see if moving my business accounts ($60k) could entice a loan offer for the price I need ($320k).

Signed up for Lending Tree last night, after finding out they only do a Soft Pull, of the two offers for a 30-year fixed, I'd take either of them. Also ran myFico this morning, it's up to a 663.

Yes, started a new business in my garage, it expanded into my kitchen, and now we need to move into a small warehouse; this is the reason for the move. The business is filed on my personal return, 2011 returns show net income of $48k, filing 2012 return next week with net income of $72k. Currently drawing a salary of $51,500 after taxes (equal to about $70k regular salary). Looking at homes around $320k, I feel like without a 5-minute explanation of the situation, I'll probably get turned down flat, and I don't want to go racking up hard inquiries without a plan of action. Some questions, if anyone can chime in: -If a home is in a short sale, is there any advantage to applying for a mortgage with the bank which owns the home? -Should I ask my real estate agent for a mortgage company referral?

Just logged into my ancient Old Navy / GE card, I was able to get the first 12 digits from my full CRA report, and the final four digits from an old email receipt - it shows closed due to inactivity when I login. I updated my contact settings online, enrolled in e-statements, and sent an email asking why the account was closed, and for them to 'fix' this error (last activity was in 2009). We'll see what happens, my main issue is account history.

Thanks, trying to B* some of the hard inquiries, and gear up for a mortgage application; wish me luck

Thanks for the reply, I pulled myFico.com last month and it was a 642, then went up to a 656 within a week. The CO's require explanation; they were sold and settled, but settled with deletion, so the baddies from the OC remain, but they're essentially resolved. The amount is moderate, since it was business-related with a PG, total ~$25k. Is there any advantage to parking cash in a credit union, before applying?

Just received a Capital One Cash Rewards Card with a $1000 limit, first unsecured card in about five years. This is the 1% cashback card they're pushing on TV. Although it's a bit of a mixed bag for March, I was turned down for a credit union account with DCU, after they pulled a hard inquiry, and I was also turned down for a staples card, again with a hard pull.

I have troubled credit, but am relocating, and would like to purchase a home, rather than continue to rent. It will be my first home, and the overall value is within FHA limits for the area, my fico is in the low 600's, self-employed, with some CO's from a few years ago. I have about 10% available for a down payment, and would be after an FHA-insured 30-year fixed. Should I contact my credit union for a mortgage quote, try a brokerage service, or ask a real estate agent for a referral? What's the best course for troubled credit? I'd like to minimize the number of inquiries, while testing the waters to see if an approval is possible - if I get approved, I'm buying a house, otherwise, since my company is relocating, I'll probably end up with a 6-12 month lease, and continue renting. Any tips or advice is appreciated

Officially clueless about Credit; late last night I got a notification from Score Watch - Apparently my Fico has increased to a 656. There are also two new hard inquiries from the Lending company. I'm going to start a 1-2 punch ($4000 personal loan, into a credit line increase on both secured cards), and give it a couple of months.

Hello, There are three credit card accounts which were from a now-closed Business, but with a PG - they effectively show as personal credit. These went into delinquency just over three years ago, they were charged off about 1.5 years ago. The debt from these accounts was sold to JDB's, who went about pulling hard inq's, and squeezing a lemon all over my report for the last few years. As part of the settlement agreement with these JDB's, the collections accounts were removed, via PFD; the only sign the JDB's were there are about a dozen or so inquiries, mostly on Experian. When my business failed I closed all of my other credit cards, to keep myself from living off of them, so my old tradelines show perfect history, but are all closed. I reached a point where I paid an initial retainer to a lawyer to start a Ch7 filing, but couldn't afford the filing fee, so Ch7 was never initiated; it's been a journey. The only active tradelines are a pair of secured cards from about 6-7 months ago, with perfect history and low utilization (0-10%) In terms of income, I have the last two years of 1040's as POI, I have cash in the bank for a 20% downpayment, and when I pulled myFico a few days ago it showed a 642 - which I don't think is super-ugly. The homes I'm looking at are well below the price range mortgage calculators tell me I can afford, and my payment would be about 80% of the rent I've been paying for the last three years. I'm self-employed, but have title to three cars through my business, as well as the POI and cash on hand for a downpayment - I'm also a first time buyer, so an FHA-insured mortgage should be available, looking for a fixed rate, 30-year term, standard-issue. I was hoping for at least a roadmap to approval if the application was denied, the severity of the denial was what struck me; it made it seem like I'm years away from my goal, rather than months.

Of course I made the final decision to apply; I think it's a bit of a unique situation: most people are waiting for their lease to expire, or they're waiting to save a down-payment, or they're waiting for some other factor. In my case, I'm only waiting on a loan approval. I've no idea what credit score is suitable, only that it needs to be 'better' - when someone implied my score wasn't as horrible as I believe it to be, I seized on that for a moment in the hopes that perhaps they were right. Guess I need to evaluate the hit I'll take from applying, read the denial letter, and re-group.