cbbroo

From the mortgage battle I've faced over the last few months, I am well versed in the FICO vs FACO score differences. Is FICO the important number for car loans as well?

Most damaging are a few chargeoffs from years ago (they were settled). I have tried to get them removed, but have had no luck. My credit to debt ratio is about 58%. I have about 7k in credit card debt. I am thinking of taking a 401k loan to pay the debt off. I know there are tax ramifications but it will help my credit and I repay the 401k at 8.8% as opposed to the 21%-28% I am currently paying. I make about $52,000 a year and am looking around the 90-105K range for a house.

I am trying to get a FHA loan. I have seen great variance in my scores depending on which site I use. I have raised my scores dramatically over the past couple months thanks to the outstanding advise on this board.. Per myfico.com, I am at 626 Transunion and 636 Equifax. My understanding is 620 is a fairly standard FHA requirement. I don't want to apply and not get approved and have the inquiry impact my score. Are these scores reliable or should I wait to apply until my scores are higher? Thanks.

Like many on here, I am working on rebuilding my credit. I have about a $4000 balance on a $5000 Best Buy Card. I just received notice they are increasing my interest rate to 28.something% (even though I have never missed a payment in 2 years) or I can close the account to avoid rthe increase I have heard closing accounts negatively impacts credit but I want to avoid this increase. What type of impact will closing the account have on my credit?? Thanks.

About a year ago, I went to an At&T store to sign up for broadband as I was unhappy with my current provider. I signed up for the plan but did not receive my modem. They advised it would be mailed to me a few days later. About 2 weeks later, I had still not received my modem. My cable bill was due (which is who I had my braodband through) and I decided to pay for broadband for the following month and stick my them since AT&T still hadn't sent my modem. I called the At&T store, received the run around about the modem, and I told them to cancel my order. They advised they would cancel it. After getting my credit report, I see At&T has put me in collections for $344 with GREGORY J BARRO & ASSOCIATES. My question is, do I have any recourse with AT&T or do I have to deal with the collection agency to get this removed? Thanks!

I am attempting to settle some debt. I was about to pay on 1 account but noticed the company is not on my credit report The debt is there under another collector who advised they sold it in January. 2 credit bureaus have it listed as transferred or charged off under the orginal credit card name. If I pay the new company, will the old collection agency have to remove the inquiry. If not, I really have no incentive to pay as it is not currently on my report under the new collector..unless paying the new collector removes the inquiry that is under the original credit card's name. Also, from what I am gathering, this will stay on my credit report 7 years from when it first went past due. Any one know how to find out when the 7 year period began? I have to be getting close. The credit report lists the open and last reported date, but not the date that starts the 7 year period. Is the 7 years the same for the credit card inquiry and the collection inquiry? Opinions? Advise? Options? Sorry for so many questions. Thanks for the help.