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Making Strides


TryingInTexas
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First, I love this forum!  It's a wealth of information that I have found very useful!

 

I've been making real attempts and strides in repairing my credit and I'm seeing some of it pay off finally.  

 

A few years ago, my husband and I were trying to get a house via VA home loan - my credit score was too low for us to qualify.  Needed a minimum of 620 so that gives you an idea of where I was.  I would now meet that 620 so yay!!!  But I was heartbroken that we couldn't get the house.  I also recently tried to just rent a house and was denied.  No specific reason was given, but I suspect it was my credit score (this was before my recent bump in score).  Again, heartbroken.  I want more than anything to be able to provide a good home for my children.

 

Now, to the reason I'm posting:

 

I have 2 collection accts left on my CR.  

Account Name MAIN STREET ACQUISITON     Account # XXXX     Account Type Debt Purchase     Balance $1,759.00     Date Opened 6/1/2008

The above shows it will be reported until Sept 2014

 

And:

 

Account Name MATTHEW THOMAS & ASSOC     Account # XXXX     Account Type Collection Department / Agency / Attorney     Balance $1,228.00     Date Opened 12/1/2012

The above shows it will be reported until Oct 2014

 

Advise needed here.  Should I wait until next year after these drop to try for a home again?  Should I try for a PFD?  A year seems so long... I read how people are afraid of contacting them for a PFD out of fear that it'll "restart the clock" on them.  That's obviously the last thing I want.  BUT, if there's hope that I can get them off before the year, I think I'd really like to do that.... I've also read that "settlements" will not help the score.  So it's basically a PFD or wait until it drops situation it sounds like... Open to other options....

 

I'm just a such a loss.  I'm finally beginning to build my credit up.  Retail cards, secured credit card, authorized user on another... it's coming up.  My TU report shows 1 other acct, in which I contacted the OC b/c I honestly had no idea what they were, they found no record of me in their system nor owing them any money, so I've disputed that with TU and am awaiting results on that one.  I did not receive a letter from a CA on that, just saw it on my CR....

 

Thanks in advance for any suggestions/help!

 

Sincerely, 

Trying In Texas

 

 

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@TryingInTexas

 

It doesn't matter if accounts are purchased by another JDB.   All collection and JDB entries related to the same account fall off your CR at the same time as the OC's entry falls off.  Pay attention to the OC's date of first delinquency (DOFD).  That's the date that determines the 7 year (or 7.5 year) reporting period.

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