Credit Repair

Va loan with a 622 credit score? Credit repair?

I just checked my husbands credit and his score is a 622 he's active duty, been in since 2003 anyone know of a lender who would approve use, we are looking to spend around 100k in jacksonville, fl to explain a lil further his credit tanked when the navy screwed up our moving allowance on a dity move. we first went through all of our savings then had to stop paying bills on time just to stay afloat until the navy got us the money. By the time we received it most of our accounts were in collections, our car got repoed and everything pretty much went to hell heres a rundown of the neg. accounts on his file cingular $304 cingular $59 both of these accounts belong to a guy we transfered the service on our phone to. I'm currently disputing them. still have a copy of the transfer of service agreement honda $13,000 charge off from the repo bank of america paid in settlement cap 1 paid/closed/was past due 30 days dec 2003 cap one $795 charge off at&t $75 never had AT&T currently disputing cox cable $149 for a cable box they say we didnt return (we did but have no proof) cox cable $275 unpaid last bill b4 we moved best buy paid in settlement best buy -same account coming up twice, except this one says it was charged off - im disputing marks and morgan open/current/no balance in the last 2 yrs/was 30 past due NFCU $85 they claim we still owe this on a car we traded in 4 years ago, the dealer gave them the payoff that was quoted the title was handed over. now they started calling me saying i still owe $85 so there's my sad story ....any advice

Public Comments

1. from what you have listed, it is a wonder that his credit score is as high as listed. It would be better to show that he is under credit counseling. Recommend consumer credit counseling, they are non=profit and all fees are paid by the creditors. They are listed in all phone books. They work with creditors to reduce interest and paymenrts. Until outstanding debts are gone, credit score will stay in the same numbered area.
2. Actually, you only need a credit score of 580 to approve for a VA loan. I spoke with a mortgage broker last week here in TN and he informed me that's all I need. Yeah, it's a wonder his credit score is so high. I have a lot less than that and mine is lower.
3. Don't do credit repair. It's a waste of money !! It's a rip off. Get your credit report. To fix your credit, do the following... Make a budget. Include only necessaries on the top. (ie. rent, electric, food). Then, lis all your bills in order from smallest to largest amount. Star any balances that are judgments, tax liens, secured credit (i.e. collateral). Now, figure out where you can cut your expenses; list the minimum payments on these accounts. But for the charges that you are disputing and have notified the credit reporting agencies of this, start calling the creditors one by one. Ask them not to report it to the credit and make an arrangement that you can STICK BY. For instance, this week, you may have $30 available, call cox and pay them $30 for the next amount of time. Keep working down the list. Dave Ramsey book is a good one for you to check out. www.daveramsey.com (money makeover). You can still be sued by the creditors. Don't ignore any law suits that get sent to you either. If you are currently active duty, the soldiers&sailors act of 1940 can provide additional time to answer especially if deployed. in the mean time, try to gather up any proof that you paid any of these debts. the repo charge off can come back at you in the form of a law suit. it's often best to get on a payment plan. you don't want issues with credit causing issues with the navy and/or security clearance. you may need bankruptcy as a very last resort. you can shop around for a mortgage. my concern is that with all these issues on the credit file, that it will be difficult even with the credit score to qualify.