Anonymous Posted August 17, 2004 Report Share Posted August 17, 2004 Hello, I am new to the board, and very happy to be here. I have major credit problems that I want to clean up. I have 25 collection accounts and 4 judgments on my Experian report, as well as $14,000 in college loans ($5000 now, I just paid $9,000 this month). They report my score at 566. I would like to buy a condo in about 6 months. But I have no idea what I will need to do to qualify for a loan. So far my plan is to attempt to settle the 25 collection accounts (most from 1999) and have them removed from my report, verify that I have paid all four judgments, complete the rehabilitation process for my college loans (should be completed in November), and try to get a Credit Card (secured?) so that I can build a positive history. I guess I am just looking for a few opinions. Am I moving in the right direction? What should I prepare for? Am I crazy to even think that I could do this within 6 months? Can the judgments be removed?Thank you,CBeMe Link to comment Share on other sites More sharing options...
Rezin Posted August 17, 2004 Report Share Posted August 17, 2004 I had ONE judgement, and ONE collection, and was denied for a home loan. They said the judgement did it......... (I was at a 630ish fico)Judgements CAN be removed. I disputed mine, and it's gone now. But I think I got lucky. You can always try to vacate the judgements (Do a search on it, there are letters and everything here to get you started...)Good luck, but don't get your hopes up...................... Link to comment Share on other sites More sharing options...
creditmess Posted August 17, 2004 Report Share Posted August 17, 2004 First you should check if those Judgements are "valid". How I did it was, go to the website for your state and do a search on lawsuits under your name. YOu will have to do some snooping around. Get those taken care of first. Then move on to the collections, then charge offs.Read every thread on this board. It's not that hard to get a loan. I got 80/20 loan (0 money down) with 566 score at a decent rate. So don't get discouraged. There are plans out there...oh yeah.. and I did have a judgement too. But it was very old, so thats something to keep in mind. But first thing should be try to get all the baddies out and get couple credit cards... 6 months that's a short time, so the best thing I would suggest you is to take your time and be patient. You didn't mess up your credit overnight so it will not be fixed over night. Link to comment Share on other sites More sharing options...
Anonymous Posted August 17, 2004 Author Report Share Posted August 17, 2004 Thanks for the help.I have a question about TransUnion. The address they have for me is very, very old and as a result the credit information they list for me is very out-of-date. What would be the best way to go about dealing with them to have the info dropped from my report?CBeMe Link to comment Share on other sites More sharing options...
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