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Hi,
I have some real bad stuff on my credit report :(
Past due 60 days: Wachovia MBNA
Past due 30 days: Capital one
Past due 60 days: JC Penny
Account closed Vendor: JC Penny
My credit score is 576 now and I real want to buy a house in about a year (I got married this summer)..How can get my credit to the point where Banks would actually approve me..How long are the above mentioned items going to stay on the credit report?
Thanks for ur support
Hi
You should consult debt consolidation agencies.
Proper planning to repay your loan, helps you to improve your credit score.
Late Payments
Rajiv,
You can buy a house anytime; Lease Purchase. You lease your home you want to buy for two years--NO LATE PAYMENTS--and then you get it financed. Any realtor can help you or recommend a realtor who specializes in lease purchase option. Of course, there is a deposit just like renting a home. OK.
So, right now what you need to do is to contact your debtors and make payment arrangements with them. It is really worth it in the long run for this very reason of wanting to buy a house. I do recommend making a budget first and be a little generous with your expenses to give you a small margin of fluxuation,i.e., so you can spend extra for that holiday dinner, etc. Then, you'll know what you can afford to pay your creditors monthly without getting in a bind. Once you do that, you can scout your new lease purchase home. Good Luck!