hi, i am now in my middle career path making more money then 10 years ago when i was in school with a few credit lines and homeless where I could not pay anything and lived on the street. I am in a financially capable stage where i can afford a house but must settle to rent because of my credit score. I pay 1800$ a month to rent but can't get a 150,000$ mortgage from a FICO score of 500. I have a car payment which I have been making for the last 4 years but my student loans show up as a lump sum as well as 4 sums from the us dept of education. How can I get the one lump sum or the 3 fewer dollar reported loans off? Will this help me? I have been paying on the student loans for 3 years straight but they are not reported as being paid or anything either. Last but not least I have a judgment that has lapsed from the 10 year time limit but is still on the credit report bureas. How can I have this removed?
I would like to get my score to a 620 in order to get a mortgage. Please help me? I heard If I pay of little bills it doesn't help anything either. What can I pay off or remove to get this score up?
Thank in advanced if you can help. You can PM me if u want as well!
Consolodate
I defaulted my student loan and after I started paying again they combined them and refinanced it. AFter a year the default came off. have you tried Sallie Mae? Sallie keeps asking me if my student loans can be consolidated (they already are). See if you can get this. Can you document that you were homeless? Shouldn't the student loans have been deferred?
you haven't mentioned anything but the student loans. the bad news is that the fed will never fall off, will never go away but the good side is that there are programs that will work with you.
for instance, there are loans that if you go into public service for 10 years, the rest of your loan will be forgiven.
credit
Your payments, on the Student Loans, should have been reported to the CB's. ..I would ask why they are not. Asking about qualifying for a house:yep..the economy is crazy now-a-days. Lenders are getting really strict on the Credit Scores, etc. To put some 'light' on all of this, when some Lenders DO look at your Credit, they see that the 'positive' credit may outweigh the 'negative' credit.
Why do the federal ones never fall off? I have never heard that before? And sdchargers is right, they should be reporting payments, if they are going to take the time to report a default then they need to report the payments as well.
credit
I really DID think that Federal ones 'fall off' after a certain time. but, I suppose, if it's a 'positive' reporting, it would help your credit quite a bit.
Yeah, if it is a positive one, but unfortunately for her it is not. I did not realize there was a difference. Learn something new everyday here, huh.
to be clear
if it is federal student loan they will never stop looking for your money. they will go after your tax return and etc. I shouldn't have implied that it can be reported past 7 years.
but one thing to consider. Are you paying your student loan or a CA.
Not sure about student loans because I have never had one. But the judgment you are referring to that is past 10 years dispute it with the credit agencies they should remove it.
I guess I am afraid to dispute the judgement because even though it lapsed i bet it can be renewed. ??
I pay the US Dept of ED for my loans, they insisted I go through their CA but they were so mean over the phone I told them I am not paying the CA and will only deal with the US of ED. I have bank records proving this too but I guess I can ask them why they haven't should up on the reports as being paid. Thank u for support and help. I dont know how I can prove being homeless except sending a letter into the credit bureas stating I was homeless and that is why it defaulted. As to the defferement I never filled out the paperwork back then because I never recieved it nor did I care to when I was trying to feed myself lol. It wasnt fun being homeless and I do not recommend it to anyone but I am now doing well and it made me a stronger person too IMO.
Does anyone know if I can pay the little bills and will it be removed or do I have to ask the original creditors or CA to remove it if I pay?? Anyone do this?
credit
My student loan is through AES. It's on my CR as a 'positive' status (I've had the loan for a long time!!). I've had a few Deferments (can put payments off for a certain amount of time) on mine. After the Deferments, my loan was brought up to date. I was a few months behind when the Deferments were 'activated'. Really helped me.
wrong!
Not sure about student loans because I have never had one. But the judgment you are referring to that is past 10 years dispute it with the credit agencies they should remove it.
most states allow judgments to be renewed. for at least 20 years. Some infinitely. Many plaintiffs don't bother but don't be mislead into thinking judgments come off in 10. It's not BK and each state has their own laws about it.
Cinnamon girl, How would the poster go about finding out if the judgment was renewed or is just simply still showing on her report? I thought she may be able to inquire at her court house. Around here you can go in and look to see if anyone has a judgment. If it wasn't renewed she should be able to get it off her report correct?
Also, i wonder since she refused to go thru the collection agency the Dept. of ED wanted that this may be the reason her student loans are not being reported as paid on. May the US of ED does not handle all the updating and reporting so this is why the hired the collectors.
go to court
and look at the case file
Thats what I was thinking. You should be able to pull it up.
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Sorry, but you can't. The only type of student loans that do not reqiure a co-signer are federal loans. All private loans reqiure co-signers now. You will need to either find a co-signer, go to a cheaper school or take a semester off to save some money. Sorry.