I am trying to buy a house with a 426 FICO score

I have a question for you and hope that you can help me. I am trying to buy a house. My credit is awful. My FICO score is 426. I am trying to get a letter of pre-approval or something from my lender. Because of my credit score the sellers are allowing me 6 months to get my score cleaned up enough to put the house in a loan with my name. They are letting me do a lease purchase for the 6 months. I already have things in dispute with the credit bureau and I am waiting on them to contact me back. Is there anywhere possible that I can try to obtain a letter of pre-approval or something?
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pre approval?
for a 426?
no I haven't. Letter?
you need owner financing.
3 open rated lines of credit 12 months MR
and obviously you have nothing but a slew of bad credit. some of that need to go away

Repossessions comes of in July. Will it help my score and how much

I have an equifax score of 586. I have a repossession that is due to come off of my report in July. Will this improve my score? If so by how much would you guess.

The other 2 scores are 640 & 641.
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really it souldn't help your credit score at all
if you have 3 open and reported lines of credit to equifax that show at least 12 MR months of reporting, then it should not help.
if this is the only thing on your report it will drop your score to 0'
it sounds to me like you don't have 3 lines of open good and rated lines of credit at equifax with no lates in the past 24 months.

it will eliminate some problems wih financing at major good credit lenders. Many lenders will disqualify you for a collections repo or bankrupcty right of the bat. So this is a good thing, it just shouldn't help your credit mch because it is so old and you have have new good cedit to over ride the old bad credit.

obviously each bureau has different data on you as the scores are different

Statute of limitations on my credit report

If the Sol has run out on a dept to be collected which is 6 years in my state I think (I am in Arkansas) on a charge off or closed account can you have them removed by the credit reporting agency? Or do I have to wait to they drop off in 7 years.
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7 on credit
if its thats old it should be hurting you much anyway with new good credit
date of last activity is here on your report

Creditors are trying to collect and have changed date of last activity.

I have taken a bit of time to call some of my creditors. They are all telling me they won't negotiate on anything. Should I just send them letters using the formate you have provided? And not call them. I used your validation letter sending one to every collection I have that isn't currently on my credit report. I think I got it straight but would like to make sure. After sending the validation letters I would then have more information to contact the bureau's regarding incorrect information etc. Which I also somehow need to include to the bureau (I don't understand this part) not to have the dates changed? I don't know where that comes in and I didn't notice it in any of the letters.
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yes they must have proper documentation is thy are second party collections
if they are first party creditors pay them if you can.

Law office letter says i owe money but it is not my acount.

Today, I received a letter from a law office telling me they have taken over a debt collection of almost $4,000.00 and lucky me, I can settle for $1,500.00. The trouble is, I do not have this account, I do not know what they are referring to. none of my personal information is on the letter, such as employment, social security number. Just a strange letter asking for money. The office does exist, I called and hung up. I wrote aletter telling this law office that this information is incorrect, or fraudulent. Any other things I can do?
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http://www.oskie.com/free-credit-help-sample-form-letter-letters.htm
send them the debt validation letter
then the follow up

How do i stop possible fraud. Never been at one address on credit report

I am looking for some help. I was wondering if you knew how I can update my address (which was changed by someone else accessing my information and obtaining my credit report) with the credit bureaus, without having to buy services from them. I called experion at the number your website provides and I found that I have to buy some services for them to do it over the phone. If I want to do it for free, it would be via mail and take about 30 days, in which whoever pulled my credit in the first place could already be using my credit. I want to change my info and protect myself, but I can’t unless I pay for services. Does that sound right to you?
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use this form say not my address never has been
include copy of a utility bill
http://www.oskie.com/credit-dispute.htm
here is a form for fraud problems
use certified delivery mail

Can you adivise my how to raise my score from 652 658 633

I read with great interest your article on 12 steps to raising your credit score. Two years ago I married a Norwegian man, and I reside in Norway with him currently. I am unable to access via the internet my credit scores. It continually tells me that service not available in my area. I am 54 yrs old, divorced after 25 yrs, and I relocated to Asheville, NC about 5 yrs ago. I rented a home there for 2 yrs, and then bought it. It is owner financed. I am disabilied retired from the US postal service. I have a very small retirement that is auto deposited into my US bank account, along with the rental income from my home. The only other debt I have is my Wachovia card. Currently, it is at 66% of the 9,000 limit due to the death of my mom last year. I plan on paying that in full within 6 months. Also, I must finance my rental insurance as it is so high due to me living outside the USA and the manager of the property in Asheville. Yesterday, I finally got my credit report from countrywide, due to a call considering a refinance. I was shocked that the 3 scores were 652, 658, and 633. They indeed should be much higher, as I always PAY EVERYTHING on time. What can you advise me to do to raise my score??? Please help as my husband and I may return to the US to live, and if so, I may have to borrow some of the equity I have in my home in order to take care of automobile, etc. Please forgive the length of this mail. I hope to call all three agencies and speak with each of them. There has NEVER been anything that should have my score so low.
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i hear the circumstances but not much about what is on your report.
if everything is paid up and you have 3 open lines of credit with no lates in the last two years your score should be 700+
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I do not have 3 open lines of credit. Only 1 Visa card? Is that the problem ? Should I reinstate maybe an old Lowe's card, and not use it, and maybe get another Visa, and let it go unused? I have not seen the reports either as I cannot access them via the net. I am calling the agencies today from Norway. Also, I do have a letter from my landlord for 2 yrs, and now mortager (Renpro Proprities) stating that I have paid in an outstanding manner for 4 yrs both as a renter and owner, as well as maintained the home. I would like to know how to add this to my credit report? He sent this to me to help with me hopefully purchasing a small home with my husband here in Norway as I have zero credit here.
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that cannot be added to your report
open rated lines of credit only
rent, utitities do not count

you can use the rent letter with some applications to some loans, but it will never show on your credit report
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some lenders will use a direct credit reference letter
here is a free letter you can change to fit your needs

Thanks for asking
I have a new subject with free letters
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Medical collection of 52 dollars with IC system. Remove from my credit

May I ask you a question: I have a collection with IC system -medical collection in the amount of 52 dollars. I called them today to see if they would settle and asked them if I paid the bill would they remove it from my credit? they said, NO, their policy was to only report the amount as paid with the reporting agencies. they were very rude!! (go figure)a co-worked advised me to send a check, and under the endorsement, state: by cashing this check you agree to remove completely. He said, I could then send a copy of the cancelled check to the CRA's as a dispute to remove. thoughts? otherwise, I really don't know how to handle.
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i would just pay them and go on with your life
52 dollars is not worth any hassle.
for them or you.
they don't care. they will just leave it on your report and not cash the check.
if it was for like 4000 dollars you might have a chance.

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no one is entitled to have a poor payment record removed from the report
it is a
sometimes used courtesy or leverage for re payment.

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thanks! i may just leave it for now. I have applied for a mort. loan and have been pre approved. If i have a recent paid or activity on the report, it may lower my score. (when they do a final run through) A few point lower will kill me.. I was trying to get a few points higher. Looks like I'm stuck! I heard through a friend that IC system is the WORST to deal with. I also heard I could send a HIPPA letter to the orig. medical provider to see if they would remove it.... Or i may just hang tough, and make sure my mort. goes through. being able to JUMP on a great deal right now is very important. I'm in cali and single...this maybe my only opportunity to buy real estate here. Sad huh! LOL
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if you are pre appoved
forget it about it
your right
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i guess you have 3 open current and rated accounts right not that report to bureaus and have at least 24 months reported. I also assume all of your accounts are less than 79% leveraged against your high credit limit. Home loans take the logest to reduce below 79% borrowed. Car loans are second with most loans being less than 72 months. revolving credit has the largest protential to raise your credit score fast. Just pay down to less than 79% and your score will go up now.
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Just to clarify....I shouldn't worry about getting those past due records from 2003 off my credit report. Rather...just reduce the amount of revolving credit to less than 79% of credit limit. How does this apply to amex? We don't have a limit on amex account, so it doesn't report that AND amex doesn't report our payment history. I wish they did, cause it has been perfect.
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yes do that
79% or less and boom
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Thanks a million..they should nominate you for a Nobel or something...

Reports going to wrong addresses bureaus 800 number

I have moved from my previous resident for a year now and still get my reports sent to the old address. I’ve tried calling all 3 bureaus with the 800 number but can’t get a live person to help me update my record.

How do I update my mailing so all correspondences go to my new residence?
I was a fraud victim 5 years ago and still have those faulty addresses listed on my reports. How do I remove those?

I found your website full of information that no other website has provided. Very productive instead of being geared towards marketing something. You’re a life saver!
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use my dispute form
put in copies of your present address on a utility bill
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You know I paid this lady over $2K to settle disputes and clean up my credit and still 3 years later, I’m not doing any better. Your website provided a lot of information I didn’t have and I probably can do a better job and faster then she can.
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thats probably true

Citibank card shows 30 60 90 days late in 04. need 700 credit score

Hello, Love you blog. Today's credit system can make anyone feel helpless and I appreciate the information you provide. I need some advice: I had and Associates Citibank card which I opened in Oct of 1998. I had a 30 days late in April '03, 60 and 90 days late in Dec 03/Jan 04. I paid the account in full, but the credit card was closed by the grantor. On my freecreditreport.com report it shows the late dates and states that the creditor closed the account, but shows little green OKAY boxes until 2005. (I honestly, don't know when the creditor closed the account - I just quit using the card) My husband and I are trying to get a house this year and my score is between 668-685 depending on agency. I do not have any other late payments and my credit history since then has been spot on. (Threeaccounts open, good balance to credit line ratio)Is there anything that I can do to get my score up? (Would love to break the 700 mark) Can I get the past due accounts removed from my record? Thanks for your help!
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sometimes they will let you open a past account
see what i did here with bp oil
capital one would be the best route
you need 3 open for at least 12 months with no new lates
and all past dues paid. score should jump dramatically
if you cannot pay past dues maybe you will get lucky and
2 years will pass with no trouble and then 7 years with no trouble.
What I have found though is many accounts get sold or collected on within the 7 years period
and bam
there we go again on the 24 months and the 7 years again from date of last activity.
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Captial One credit cards

I just recently got a great low interest rewards card from Capital One. Then I read where you said that they were the worst to have because they only report the balance as the high limit. I’m a member of a credit monitoring group that allows you to look at your score each month. I noticed on my report that they reported my $5000.00 limit and my 1000.00 balance. Have they changed the way they report? Also my credit score drops and raises each month, up and down by about 10 points. Is this normal? I have not been late on a payment for 3 years my scores for each bureau range from 640 to 659. Each month. It says that this is a fair score.
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yes they have changed their practices. i need to get those comments off my website
they change due to customer blowback in a very large way. happened about 6 months ago.
so you are ok

Disputed credit deleted how long before my score raises

I would like to ask a question in reference to your credit blog-I just don't see how I go about doing so...Is there a link? I have read almost everyone of your blogs over the past week. They are extremely helpful! I can ask my question on your blog if you just tell me where to! My first question is: I disputed 6 items on my credit report, 5 were deleted (MIRACLE!!!). How long before my score goes up? How long before I should purchase a new report with a new score? I am trying to purchase my first home
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email majors@oskie.com

if you were sent a letter saying they were deleted then the credit score change has already happend.
so check now.

make sure you get and keep at least 3 open and rated lines of credit reported to a bureau or bureaus
tansunion, equifax, experian.

if the items deleted were more than 2 years old do not expect a dramatic score increase and the past 24 months weight the most on a credit report.

Fix my credit 8 credit card charge offs and 120 days late on car lease

I am 23, and am in need of some desperate help to fix my credit. I am 23 and am getting married and I have a credit score of 530. My fiance is an immigrant and has no credit at all, so we have been focusing on fixing mine. I had several collections on my credit as well as like 8 credit cards and a car loan for a lease. The car loan is up in May and was 30 days late 9 times. All of my charge cards have been paid off in full except one that has an 1100 dollar balance and was 120 days late, however I am now caught up. U just opened a secured credit card with a limit of 200 dollars I have had it for almost 6 months and have never been late. I dont realy know what to do I have been working really hard to pay all of this off and my score isnt moving, I cant afford to pay someone to help me, so I was looking on the internet and found your site. If you could give me some advice or tell me what I need to do I would appreciate it
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i would try to open 2 of those old charge cards.
after 12 - 18 and 24 months ask them to report only that past 24 months of your credit on that account since that is normal revolving credit practice.
many times all the old late will be gone and you will have 2 new good rated lines of credit.

something goes for your husband. he is gonna have to get some credit so you can use his income for furture credit needs. get him to try here. of course he will need a social security number and if he is an immigrant he may not have one. he needs some credit and can have a great score in less than 13 months if he can get one of these cards that report to a bureau

everything else should be getting to the 24 months or older point which will helpyor score
IF
you have good new open never late lines of credit that are 12 months old
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Will charge cards typically let you reopen them, and what cards would yousuggest trying to reopen because I only had like one major credit card whichwas a capital one card the others were store cards like jcpenney and kohls Iwas told that instant credit through stores can hurt your credit in the longrun.
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sometimes they will let you open a past account
see what i did here with bp oil
capital one would be the best route
you need 3 open for at least 12 months with no new lates
and all past dues paid. score should jump dramatically
if you cannot pay past dues maybe you will get lucky and
2 years will pass with no trouble and then 7 years with no trouble.
What I have found though is many accounts get sold or collected on within the 7 years period
and bam
there we go again on the 24 months and the 7 years again from date of last activity.

Collection on back child support almost 7 years old

I have a question about 2 old collections that happens to be back child support, my question is does this drop off of your credit report after 7 years like other collection. Or does it stay on my credit report forever?
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it drops off unless you are continually late or behind.
child support goes on until a child is 18 right?
that leaves a long time for another chance at screwing up and prolonging the 7 year problem
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No I am not late now I am current and is planning on staying current but these 2 collection will have been on my report 7 years July, are your saying that they will fall off in July which will be 7 years? If not can I call the credit reporting agency and ask for them to remove the collection in July? About 3 years ago I disputed one of them that was on Trans union and somehow it was deleted, but I look at my experian and I see it on that one. How can that be? Should I dispute experian telling them that I have has this deleted on one of my reports and that this should not be on theres?
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7 years past the column thats says date of last activity. yes
just because one bureaus drops an account, that does not mean another has to
it does mean, there is a possibly or maybe even a probabilty.
so
http://www.oskie.com/credit-dispute.htm
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Thanks you for your valuable info

30 60 90 days late. How bad will it affect my credit report.

30 days late on my credit report within the past 6 months can reduce my credit score up to 40 points. If I get a 60 days late or a 90 days late or multiples of any of these my score car drop 100 points in a matter of days. The good side is after 24 months of no lates my score can go all the way back up to where it was when I had no lates.

Is fax the best and fastest way to correspond with equifax

I’m trying to obtain a fax number for Equifax. Can you help? Also, is sending a fax both the best and fastest way to correspond with equifax.
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the only way to keep an accurate record and documented delivery of the record
is
certified delivery mail. delivery.
send it 3 day mail, or next day,
or regular certified delivery
ask the United States Post Office person to tell you how long the mailed letter will normally take to go from zip code to zip code.
http://www.oskie.com/credit-dispute.htm
here are the addresses.

how long do judgements stay on your report and can you have them fremoved after the time passes

What is the time that judgements and collection items are allow to stay on your credit reports. And after that time has past and they are still on the credit report, Can I request for them to be remove?
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7 years
yes you can
use this form
www.oskie.com/credit-dispute.htm

Utitlities nd bills not reported unless unpaid. collections

On your website you stated that non lines of credit such as insurance and phone bill collection accounts show as a negative only. How do they differ from a revolving account collection or installment account collection? Do they all have the same effect on your score or since credit wasn't extended it's not as bad on your score as a revolving or installment collection account? Also I heard that it doesn't matter the amount of the collection $10 or $10,000 it still has the same impact but relating to your debt to income ratio the amount would certainly matter right?
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revolvong credit is usually reported to at least one bureau every month positive or negative.

phone, electric, insurance, hospital bills, water are utilities and utilities are not lines of credit so they only show up on your report if you don't pay and let the account go past 90 days with and outstanding balance. then the utility will show up as a collection or and uncollectable bill.

any type of collection ,means an account has gone past 90 days late and affects your score negatively.

the last statement is true because a 10,000 collection would reflect you have a 10,000 payment due for that month.

sometimes hospital bills are looked at more leniatly than other collection because they can be accidental debts or mistakes with insurance and many times can be settled for less.

a utility is something that was charged out and used by the consumer who did not pay and shold have.

Mortgage

Mortgage

Denied credit for a 30 days late on my credit report.

your web page about bad credit. I was 30 days late (1st time on 4 year car loan) and when I noticed by the next month I paid both months at once. I called the finance company to see if they could remove it from my credit report and they put my on hold for a few minutes. They came back and said that they could not because it was a law that automatically kicks past 30 day accounts out to the creditors. Sounded like bologna to me but was wondering what to do to get this removed. I could pay off car in full if this would help remove it. My husband's business had been denied credit I feel due to this problem. What do you think and can you help me? Any info would be appreciated.
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in 24 months the lates will not affect your credit.
sounds like you have done all you can do as far as removing it
i know you can go back after 24 months and ask because many credit cards and lenders only report the past 24 months activity.
sometimes crditors will allow one months grace per year. you might ask for that. one months grace.

one thing would be to pay it off and make sure the account would not hurt you in two years