Jump to content

Sign in to follow this  
phyregold

Credit Repair Help needed.

Recommended Posts

Here's where I am.  My goal is to get my credit score to 650 for a mortgage and I currently have a 620 (after initial disputes).

 

  • Opt Out
    • Done
  • Dispute Addresses
    • Done
  • Initial Dispute
    • Done
      • I did not dispute any medical accounts (i don't have the money to pay them offc

 

The initial dispute went fairly positive I would say 50% of all accounts that I have were deleted. I guess where I'm stuck is what do to next for thr accounts that were validated.  They where things like utilities and credit cards.  I'm far outside my initial 30 days and some accounts are within their SOL.

 

Thanks!

Share this post


Link to post
Share on other sites

Need more info on the remaining negatives in order to help.

 

Is the current 620 you are referencing a mortgage FICO score?   

 

You'll need to get the middle of your three scores up to the required score threshold (are you sure 650 is a specific, meaningful threshold for the type of mortgage product you are seeking?).  

 

If you have a second applicant, they'll look at your middle score and the middle score of your co-applicant, and use the lower of the two.

Share this post


Link to post
Share on other sites
Posted (edited)
47 minutes ago, cv91915 said:

Need more info on the remaining negatives in order to help.

 

Is the current 620 you are referencing a mortgage FICO score?   

 

You'll need to get the middle of your three scores up to the required score threshold (are you sure 650 is a specific, meaningful threshold for the type of mortgage product you are seeking?).  

 

If you have a second applicant, they'll look at your middle score and the middle score of your co-applicant, and use the lower of the two.

 

Sorry your correct.  I have 617 and need a 640 (FHA 203k).  I also do not have a cosigner so this close I'd like to get over this little hump left.

Edited by phyregold
more details

Share this post


Link to post
Share on other sites

Do you have any existing credit card accounts in good standing where you could request credit line increases? This could lower your overall utilization and give you a small bump in your scores. Since you plan to apply for a mortgage, don't do it for any accounts where the creditor does a hard pull for CLIs.

Share this post


Link to post
Share on other sites
On 6/9/2019 at 12:47 PM, Burdell said:

Do you have any existing credit card accounts in good standing where you could request credit line increases? This could lower your overall utilization and give you a small bump in your scores. Since you plan to apply for a mortgage, don't do it for any accounts where the creditor does a hard pull for CLIs.

No I don't.  I was kind of hopign WhyChat might chime in, I don't know what to do after the initial dispute letters.  Do I do a DV or what/

 

 

Share this post


Link to post
Share on other sites

where are you getting the score from? also, if you have open disputes, ignore FICO scores until the dispute is completed. remember 50% of credit repair is ADDING positive tradelines.

Share this post


Link to post
Share on other sites
On 6/9/2019 at 10:52 AM, phyregold said:

My goal is to get my credit score to 650 for a mortgage ...

  • I did not dispute any medical accounts (i don't have the money to pay them off)

I would strongly encourage you to make sure you are on sound financial footing (healthy down payment, significant emergency savings fund) before borrowing money to buy a home.

 

Just because someone is willing to lend you a huge pile of money for a home doesn't mean it's in your best interest to take it.

Share this post


Link to post
Share on other sites

I appreciate the input, but there is a difference between needing 10k for a downpayment and 42k for paying off medical....

 

Seriously, what do I need to do after my initial disputes?

Share this post


Link to post
Share on other sites
22 minutes ago, phyregold said:

I appreciate the input, but there is a difference between needing 10k for a downpayment and 42k for paying off medical....

 

Seriously, what do I need to do after my initial disputes?

Respectfully, if you have $42,000 in medical bills you cannot pay, how do you have $10,000 to put down on a $50,000 house?

 

Rhetorical question.

 

But here are a couple of practical ones:  Have you actually applied for a mortgage and/or reviewed your credit report with a mortgage company?  If not, scores aside, how do you know which of your negatives need to be settled, removed, or whatever?

 

Some subprime mortgage programs like FHA will overlook a lot of sins to get people into homes.

 

 

 

Share this post


Link to post
Share on other sites
50 minutes ago, phyregold said:

 what do I need to do after my initial disputes?

 

On 6/9/2019 at 11:06 AM, cv91915 said:

Need more info on the remaining negatives in order to help.

What can you tell us about these trade lines?  Do you have your paper reports?  Any inaccuracies?

Share this post


Link to post
Share on other sites

Why do you believe that disputing the medical accounts would force you to pay them off??

Unless they are VERY recent AND you have assailable assets that could be at risk if you were sued there is NO need to pay anyone anything. If they are over 2 years old (from date of service) it is extremely unlikely that the reporting CAs have authorization to report at all. If you decide to follow the guides for your medical accounts post in the medical forum for quicker responses from me.

 

Follow the guides

https://whychat.me/GUIDEBOOK.html

https://whychat.me/GUIDE HIPAA PROGRAM.html

Share this post


Link to post
Share on other sites
Posted (edited)
3 hours ago, ToryJay said:

The best advice for rebuilding credit is to manage it responsibly over time. If you haven't done that, then you'll need to repair your credit history before you see your credit score improve. My personal advice to contact  xxxx  they know what to do.

We do not advocate renting or buying trade lines.  EVER.

Edited by CTSoxFan
removed link

Share this post


Link to post
Share on other sites
15 hours ago, cv91915 said:

We do not advocate renting or buying trade lines.  EVER.

How is that even legal? Being an AU on a relative’s card is one thing, but charging for this as a business seems awfully close to being fraud. 

Share this post


Link to post
Share on other sites
Posted (edited)
6 hours ago, DPB said:

How is that even legal? Being an AU on a relative’s card is one thing, but charging for this as a business seems awfully close to being fraud. 

There will always be X% of the population willing to lie, steal or light someone else on fire to get what they want.

 

These people are called sociopaths, and I have no room for them in my life.

 


 

 

Edited by cv91915

Share this post


Link to post
Share on other sites
3 hours ago, cv91915 said:

There will always be X% of the population willing to lie, steal or light someone else on fire to get what they want.

 

These people are called sociopaths, and I have no room for them in my life.

I completely agree. And these people are why renting/buying and selling trade lines should be made illegal. They are basically defrauding a creditor by passing off someone else’s good credit history as their own. 

Now, my mother added me as an AU on a couple cards when I was 18 to help me build credit. But one of those cards was solely mine for me to use. But she was the primary cardholder and the bills came addressed to her. So she saw every statement to make sure I was being responsible. The whole point was to help me while teaching me to be a responsible adult. I consider that to be a completely different situation from a company selling AU accounts. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines