Hello All- This may sound a tad over the edge but I was young and very stupid. Issue/question: Question #1 Back when I was 17-18 I got MANY credit card offers and maxed them out of coarse. I have paid a few off through out the years (its been 10 years now) but there are still a few untouched items to take care of. I read some place on a official credit reporting website last year that if the item is over 7 years old there is a letter you may write to have them take it off the credit report paid of unpaid either way they would remove it. Is this ture? Question#2 Also, I am now 28 years old, I am ready to start the search for a house to purchase but I am thinking that since I gave up on the credit cards for the past many years due to being pretty much scared of them, that I will NOT be able to get a home loan-Question is, now that I know I need to build up my score 580 and need to establish some credit, I can't seem to have anyone approve me for a credit card. Is there anyone out there that will approve Bad credit to build it back up? Thanks so much a head of time for showing me the way and helping with this confusing "growing up" part of my life... Carrie
those accounts can stay on for 7 years from the date of last payment or deliquency date...there is a letter than you can send or just dispute online the tradelines that are still on there as... too old please remove from file....you dont want to go out and get a whole bunch of new credit right before getting a house...you want a couple established tradelines atleast 1-2 years old to put you in the best position...580 is pretty low and you could get hit with a high interest rate..after you get those account removed your score should rise some...
Thank you I appriciate you help and advise!! It is much needed! I feel like am completly stuck in this rut of life. But, that is besides the point. Would you know the site to go to to submit those letters?
Don't bother paying for that information. Take your time, read thru this board. Many if not all your questions have been asked by someone else and the answers are right here. It just takes a couple of days of reading to get to them. Good Luck
www.carreonandassociates.com is a good site with a lot of useful information, including SOL by state, whether you choose to pay for and use their services or not.
