Question by Confused lady!: Help my credit? please take time out of your busy schedule and HELP me!!! I'm 32 years old with the worse credit in the world. I am divorced with one child. My salary is 60,200. In South Carolina thats over the median. I want to purchase a beautiful large home. I qualify for a VA Loan but my credit is horrible. I have tried over and over again to get loans, credit cards, etc and has been denied each time. I have collection accounts, credit card charge offs, unsecured personal loans charged off, numerous accounts that are past due over 30 days, 60 days, 90 days and yes 120 days. I never filed bankruptcy or anything like that. I checked my score and it is 548 for trans union and 528 for experian haven't checked equifax but i'm sure it is low too. I don't know what to do! I was thinking of doing some pay for deletes, start making monthly payments hoping they will report it and bring up my score, I even went to Lending Tree to see if I can get a $ 8000 loan.will do whatever it takes. plz help me out. Best answer for Help my credit?:
Answer by mister ed
stop take a deep breathe and settle down == you best bet with that salary should be living high on the hog --- ok here what you do -- first you list all of your bills so every one get a piece of the pie -- you next down size you life style -- cable internet cell phones go your mission is to get out of debt and save for a rainy day fund and also for a downpayment for the house you want!! when you have done this shoot me an email and i will give you the next step!!!
Answer by candi h
I think that you should keep those reports you received and the scores first of all. Next, you should list all of your accounts from the largest balance to the smallest also listing the current balance and minimum payments. Since you stated your income is above average instead of spending the extra money you have after bills put it towards the accounts. Me personally I took the smallest account and set up payment plans on 1-3 of them (how many you feel comfortable) which allowed me to pay them off in as little as 2-3 months b.c they were not huge balances. Once you pay them off send confirmation to all three bureaus o they can update them quicker than the company's would. Keep doing this until all accounts are paid and the debt is gone. You may also be able to also get settlements on the older debt but they can create a new account number and legally come after you for the remainder (it depends).
Answer by Abbey
Are you smart enough to listen to some good advice from someone who�??s been where you are? I�??m betting you are because you�??re seeking information on how to improve your credit score, which is a very smart thing to do. Maybe you�??re hoping to buy a house one day and you know a higherand I�??m going to help point you in the right direction.One very important thing to keep in mind -- when you finish reading, don�??t forget to click on the links I�??ve provided at the end of the story.
Answer by DAS
Since it seems that your credit debt, you have all kinds recent and old. Even if you pay off some or all of your debt, it doesn't mean your credit score will go up, unless you get them to delete the information for paying the debt (account will show paid as agreed), it will still show as a negative but paid. I suggest you contact a credit lawyer or counselor, that can help you sort this matter out. See the problem is you can request for a pay for delete, but that doesn't mean they have to do it. And as I said you can pay some of the account off, but still the damage is already done, it will still show as a negative, and you will have reaged the 7 years status, from the date of last activity. So, best scenario would be to deleted the account, or have them say paid as agreed. Either way you need to get the negatives off your report, and then put some positives on there. You mention you qualify for the loan, do you mean you can get the loan even with bad credit? Worst case scenario, would be to negotiate, pay for delete/make arrangement/deal with the /credit card company to pay the debt off, without the bad/negative mark. If they don't, then you will need to make the decision if you want to pay them and get them out the way anyway. It will not make your score go up, but you will have peace of mind of finally resolving this issue. You can eventually try to dispute this information off of your credit bureau report at a later date. Not an easy fix, but one worth thinking about. Either way it will take time. I would also take the time to work on a budget and get some credit counseling so that you can save money for your new house, and not make the same mistake that you have done in the past. The knowledge is invaluable, and will give you peace of mind when you straighten all of this stuff out. Lastly, I just wanted you to know, that getting a loan is not going to help you bring your score up, it will take multiple things to bring your score up.
realestatemarketingthisweek.com - Real Estate Marketing - First Time Home Buyer should use a Mortgage Planning Expert - With Michael J Barnes and Dan Havey of Real Estate Marketing This Week Part 8 - Credit scores now are a major factor with interest rates. You see the liars up on the internet with interest rates being at 4.625% and all this kind of hocus pocus, its not true. You are never going to qualify for that rate today. They are going to lie to you, once you sign and see the fine print you are going to realize that it is a ridiculous idea to pay that amount of money in fees. Credit scores have to be significantly higher than they used to, but again I have to tell you, its my opinions that a 70% no doc loan with someone who has a 720 or higher credit score I believe is a good loan. I personally believe that at some point it will be brought back. I am not arguing with that, with a good FICO score I can agree with a 20% down for a stated income loan. People are encouraged through our tax system to write off all of their expenses and so often we have small business people who really are making money but because they take advantage of our tax system they are not able to get a loan. They cant qualify based upon their income. In a lot of cases yes, but once again I definitely want to point his out just because someone is self employed and owns a small business and they do write everything off, that does not mean that they will not qualify. They may have been told now that ...
http://leafgardenpress.com/ Real Estate Marketing - Down Payment Assistance, 00 First Time Home Buyer Tax Credit - Part 8
The National Housing Federation said that in 2001 the typical price of a house was £121769, while the average salary was £16557. But 10 years later the price of a home had increased to around £236518, a 94% rise, despite the sluggish state of the ... Gap between house prices and salaries is widening, says report
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