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Hi,
I lost my job around 5 years ago because of my VA disabilities and my credit took a huge hit. I was not able to keep up payments on my credit accounts.
So, I have been cleaning it up but it is still not good enough. I previously knew that in order to get a home loan my score should be 620 to but that was not the case since I am now at 672. I currently have four collections but they are all going to be either paid or PFD within the next two months.
I also have around 9 charge-offs with all but one showing 0.00 balance. Any recommendations on if I should ignore the charge offs?I have no idea what this means?
cleaning up credit report
Hi Tavon,
With a score of 620 you may qualify for an FHA loan or VA loan but you won't get the conventional ones. You need to have a credit score atleast above 720 to get good loan offers.
Any recommendations on if I should ignore the charge offs?I have no idea what this means?
No, you shouldn't ignore the charge-offs. Charge-off does not mean that the debt has been forgiven. You are still held responsible to pay off the debt.
If the zero balances are reported by the original creditor then check who holds the accounts. You can also talk to the creditor and request him to pull back the account from the collections. If he agrees to do so (only if the debt has not been totally sold off) you can request the creditor to delete the charge-off once the does are paid off.
Thanks,
Aaron
I would start with disputing the charge offs 3 at a time and see if they fall off. Then come back and describe your report in more detail.
charge off
Yes, if these are paid charge-offs the OP can try disputing these. However, I think he can also try removing these negatives through Goodwill letters.
Thanks,
Aaron
I think goodwill is fake. most of these letters point out an error that you would like some "goodwill" for. but point out an error in reporting makes your letter a 623 investigation request.