working on repairing credit
Date: Mon, 02/12/2007 - 21:10
Submitted by stephanie.mj.mcintyre
on
Mon, 02/12/2007 - 21:10
Total Replies: 1
I have a few questions on repairing my own personal credit. I have a dentist bill for 106, which will be pif next week. I have a doctor bill for 245, which I am disputing. I also have a credit card that has about 700 left to pay on, which i do pay 100 every 2 weeks. Then at last there is my car payment which has about 5000 dollars left and I am currently a month and a half ahead on payments...I was wondering, after i get the 2 doctor bills and the credit card paid off...will my credit start to signifigantly increase? I just want it to be in a range that looks good to creditors and lenders, seeing how in the near future, I will be able to apply for a mortgage loan. I am not that old, and do not know much about how quickly credit can be repaired and how easy it is, if at all. I would appreciate anyones knowledge on this topic.
Thanks,
Stephanie
Paying off the medical bills will please a mortgage company and
Paying off the medical bills will please a mortgage company and certain creditors. If any of these accounts were past due before you started catching them up,your credit eport took a ding. What you are doing is a great start. Now pull your 3 credit reports and review them for any mistakes. If there are any legal negatives,you will want to add a positive tradeline to help offset it.
Another thing to consider,If reports look kinda rough you can ask any creditor to do a manual review to make a loan or credit decision.They may charge you but I would consider it money well spent on major credit transactions. What they will do on a manual is ask you for documented proof of income and proof of payment with payment history on all your current credit accounts.
The reason it would help is it would give them a better picture of your present financial condition.It would show yourself as a paying customer who is ontime with payments regardless of what credit report is listing. Good Luck.
