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Hello All - ANother Newbie


GiveMe720
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Hello all, :)++

I am another newbie here. I found this site while researching all of the online credit repair sites, all saying how much better they are than the other sites.

Well, I have always prefered to do things for myself instead of paying some else to do it for me.

My wife and I tried to get pre-approved for a mortgage and the results were not great...we could get a mortgage with 20% down, but do not have the 20%. We only used my credit because she has no income, and we know there is also some bad credit info on her CRs.

The mortgage company pulled what they called a "tri-merge" report from LandAmerica. The scores from the report did not all list as FICO, so that confuses me.

These are the scores ad source:

XPN (Fair, Isaac Risk Score): 511

TUC (Empirica Score): 530

EFX (FACTA Beacon 5.0 Score): 502

I signed up on TrueCtredit.com It shows my scores today:

XPN: 548

TUC: 551

EFX: 568

This site does not say if these are FICO or something else. More confusion.

THe lady at the mortgage company said if we could get my score upto 590+ we might be able to get a 0 down loan, and if we could get it above 600 we could definitely get a 0 down.

Is this something doable in 2 months?

I have read all the newbie (i wonder...should it actually be newbee ?) primer information, and it really seems very overwhelming at this point.

I have only 3 CAs on my CRs, all for very low amounts and appear to be past SOL.

I have a couple of charged off OCs (? credit cards - Capital One) one "Paid Charge Off" the other "Paid Settlement"

A third Capital one listes as charged off ( in May 2005) but with a $3000 balance.

I have several other derogatory listings on my CRs that I want to clean up.

I am just looking for advise on how to start, and procede.

I have actually started to deal with on of the CAs AFNI, and have posted thread about it.

just wanted introduce myself, and say HELP! :confused: .

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I was in the same boat last year. I was trying to qualify for a mortgage but my score needed to be bumped up quickly. First of all, I got all my credit reports ( free @ annualcreditreport.com). Go to each of the CRA websites to do your disputing. I disputed all the old accounts as not mine, obsolete, or information incorrect, etc. TU was the easiest to get deletes, then EX, and then EQ. After you get some deletes (hopefully) you will know what you have left to deal with.

Also, what bumped up my scores about 50 points was paying down my good credit cards to 0. There is a link somewhere on this board on starting the credit repair process. It is a lot to take in at the beginning and it seems overwhelming, but it is well worth it.

As I was told in the beginning, read, search, read, search, and do more of that! Good luck!

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I found this place a month or so ago and am in the same boat as you. We hear back from the mortgage guy today or tomorrow. We are using Michael's credit cause I have no job.

I just disputed this morning using the online dispute on accounts that were 4 years old and already paid, hoping they won't be able to verify.

Start off by disputing all the negatives on your credit reports. Some suggest mailing in your dispute CMRRR so you can have a paper trail. But the ones you have that are past SOL should come right off with an online or phone dispute.

It is overwhelming when you first come here. I read till I felt cross-eyed, took a little break and did it again. Give it an hour, then read it again. You will start being able to make sense of it.

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My wife and I tried to get pre-approved for a mortgage and the results were not great ... I signed up on TrueCredit.com ... This site does not say if these are FICO or something else.

I use TC, but not for the scores. Any scores you get from the CRAs or one of their monitoring services like TC is a FAKO. It's not for real. They aren't useless as you can see progress on a service like TC. If your FAKOs go up a lot, then your FICOs may as well.

if we could get my score up to 590+ ... Is this something doable in 2 months?

Anything is possible. It all depends.

I have only 3 CAs on my CRs, all for very low amounts and appear to be past SOL.

Check the DOFD to be sure they are past SOL. If so, then that's leverage you can use.

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

In NC, 3 years for oral and written, 4 years for open ended (CCs), and 5 years for Promissory Notes.

Who are the OCs and what are the amounts? Reason I ask is, if it's something small, like under a $100, maybe even up to $300 or $400, I would not even try to haggle over the price. But that's just me. Only thing I would want is a PFD - Pay For Delete. Get it in writing BEFORE you send payment. And don't talk to CAs over the phone. Only in writing.

I have a couple of charged off OCs (? credit cards - Capital One) one "Paid Charge Off" the other "Paid Settlement" ... A third Capital one listes as charged off ( in May 2005) but with a $3000 balance.

Lotta folks in here report their experience with Cap 1, and Cap 1 seem like arses. You could give goodwilling a try, but with one account in CO I doubt you'll get far. That CO is still under the SOL, and Cap 1 has a reputation of suing within 6 months of SOL. Since it's still with Cap 1, and not a CA, you stand a better chance of negotiating this into a PFD.

I have actually started to deal with on of the CAs AFNI, and have posted thread about it.

Talking to them on the phone is usually NOT a good idea. Little good comes of it, and something bad usually comes of it. I would stick to letters. And don't settle unless you get a deletion in writing.

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Welcome. If you didn't find this already, click on this link and start your dispute process with the CRA's immediately:

http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=263069

My scores have gone up pretty quickly on EQ and EX since disputing. I'm still waiting on TU, but they are dragging their feet.

Good luck.

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