Hi everyone, Thanks in advance for helping me out. =) I'm trying to get my credit score higher and fix my account so I can buy a home. I had some really bad past prior issues due to being laid off, etc. Now I make enough cash and want to rebuild. Can anyone answer these questions? 1) I have 6 credit cards now with limits from $200 to $500. I only use about 20% on them every month, let them sit and then pay them a week before they are due. Will it help more if I use them, pay them off the next day, use them again, pay of the next day, etc? I know not to charge much on them but what is the best way to use them and rebuild? 2) Anything else I can do besides pay on time with these CC to rebuild my credit? Right now the only other thing I have is a 06 car on my report we pay on. No other credit stuff on file. Total owed is about $21,000 on my credit report. 3) My wife got a student loan like 6 years ago and never paid on it. Then last year she paid like 9 months on it and quit as they charge like 10% interest. What can we do about this as she owes like $50K! Anyway around it? 4) My current credit score is 642. How much can I push it up each month? What else should I do besides pay off these 5 CC and the car loan? Thanks again for the help!
CREDIT SUMMARY FROM EXPERIAN EXPERIAN EQUIFAX TRANSUNION REAL ESTATE ACCOUNTS: Count: 0 0 0 Balance: $0.00 $0.00 $0.00 Current: 0 0 0 Delinquent 0 0 0 Other 0 0 0 REVOLVING ACCOUNTS: Count: 9 6 7 Balance: $617.00 $577.00 $6,043.00 Current: 9 6 7 Delinquent 0 0 0 Other 0 0 0 INSTALLMENT ACCOUNTS: Count: 2 3 2 Balance: $21,138.00 $27,776.00 $20,975.00 Current: 1 1 1 Delinquent 0 0 0 Other 0 0 0 OTHER ACCOUNTS: Count: 0 0 0 Balance: $0.00 $0.00 $0.00 Current: 0 0 0 Delinquent 0 0 0 Other 0 0 0 COLLECTION ACCOUNTS: Count: 3 2 2 Balance: $881.00 $643.00 $467.00 Current: 0 0 0 Delinquent 0 0 0 Other 0 0 0 TOTAL ACCOUNTS: Count: 14 11 11 Balance: $22,636.00 $28,996.00 $27,485.00 Current: 10 7 8 Delinquent 0 0 0 Other 0 0 0 ACCOUNTS SUMMARY: Open Accounts: 6 10 9 Closed Accounts: 8 1 2 Public Records: 0 0 0 Inquiries: 15 15 23
ACCOUNT HISTORY FROM EXPERIAN FNB BROOKINGS EXPERIAN EQUIFAX TRANSUNION Account Name: 1ST NATL BANK/FNB BRKN FNB BROOKINGS Acct Type: Credit Card - Revolving Terms Revolving or Option Acct Status: Closed Closed Monthly Payment: Date Open: 8/1/1998 8/1/1998 Balance: $0.00 Terms: Revolving High Balance: $1,450.00 Limit: $1,450.00 Past Due: Payment Status: Current Pays account as agreed Comments: Transferred to another lender or claim purchased ACCOUNT TRANSFERRED OR SOLD CREDIT CARD 24-Month Payment History ? Legend Date: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 99 99 00 00 00 00 00 00 00 00 00 00 00 00 01 01 01 01 01 01 01 01 01 01 ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK 120 120 120 120 OK Experian: Equifax: TransUnion: ^Top of Page^ ALLIED INTERSTATE IN EXPERIAN EQUIFAX TRANSUNION Account Name: ALLIED INTERSTATE IN Acct Type: Collection Account Acct Status: Open Monthly Payment: Date Open: 12/1/2001 Balance: $238.00 Terms: High Balance: Limit: Past Due: Payment Status: Unpaid Comments: Unpaid 24-Month Payment History ? Legend Date: - - - - - - - - - - - - - - - - - - - - - - - - Experian: Equifax: TransUnion: ^Top of Page^ ALLIED INTERSTATE INC EXPERIAN EQUIFAX TRANSUNION Account Name: ALLIED INTERSTATE INC Acct Type: Collection Department / Agency / Attorney Acct Status: Closed Monthly Payment: Date Open: 11/1/2004 Balance: $238.00 Terms: 1 Month High Balance: Limit: Past Due: $238.00 Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department Comments: 24-Month Payment History ? Legend Date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 03 03 03 03 03 03 03 03 03 03 03 03 04 04 04 04 04 04 04 04 04 04 04 04 KD Experian: Equifax: TransUnion: ^Top of Page^ AMERICREDIT EXPERIAN EQUIFAX TRANSUNION Account Name: AMERICREDIT AMERICREDIT Acct Type: Auto Loan Installment Acct Status: Closed Open Monthly Payment: $337.00 Date Open: 1/1/2002 1/1/2002 Balance: $8,765.00 $8,765.00 Terms: 75 Months High Balance: $11,093.00 Limit: Past Due: $284.00 $284.00 Payment Status: Charge-off Bad debt & placed for collection & skip Comments: CHARGED OFF ACCOUNT AUTO 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD KD ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ AMERICREDIT EXPERIAN EQUIFAX TRANSUNION Account Name: AMERICREDIT Acct Type: Installment account Acct Status: Closed Monthly Payment: $337.00 Date Open: 1/11/2002 Balance: $8,765.00 Terms: 75 Months High Balance: $14,715.00 Limit: Past Due: $284.00 Payment Status: Charged off as bad debt Comments: Profit and loss writeoff 24-Month Payment History ? Legend Date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - - - - - - - - - - - - - - - - - - - - - - - - Experian: Equifax: TransUnion: ^Top of Page^ AMEX EXPERIAN EQUIFAX TRANSUNION Account Name: AMEX Acct Type: Credit Card - Revolving Terms Acct Status: Closed Monthly Payment: Date Open: 3/1/1977 Balance: Terms: 1 Month High Balance: Limit: Past Due: Payment Status: Paid satisfactorily Comments: Credit line closed-consumer request-reported by subscriber 24-Month Payment History ? Legend Date: Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 00 00 00 00 01 01 01 01 01 01 01 01 01 01 01 01 02 02 02 02 02 02 02 02 OK Experian: Equifax: TransUnion: ^Top of Page^ AMEX EXPERIAN EQUIFAX TRANSUNION Account Name: AMEX Acct Type: Credit Card - Revolving Terms Acct Status: Closed Monthly Payment: Date Open: 3/1/1977 Balance: Terms: 1 Month High Balance: $783.00 Limit: Past Due: Payment Status: Paid satisfactorily Comments: Credit line closed-consumer request-reported by subscriber 24-Month Payment History ? Legend Date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 00 00 00 00 00 00 00 00 00 00 00 00 01 01 01 01 01 01 01 01 01 01 01 01 OK Experian: Equifax: TransUnion: ^Top of Page^ AMEX EXPERIAN EQUIFAX TRANSUNION Account Name: AMEX Acct Type: Revolving account Acct Status: Closed Monthly Payment: Date Open: 10/1/1977 Balance: $0.00 Terms: High Balance: $0.00 Limit: $500.00 Past Due: $0.00 Payment Status: Unrated Comments: Account closed by consumer 24-Month Payment History ? Legend 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05 05 05 05 05 05 05 06 06 OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ BK OF AMER EXPERIAN EQUIFAX TRANSUNION Account Name: BK OF AMER Acct Type: Revolving account Acct Status: Open Monthly Payment: $56.00 Date Open: 5/22/1995 Balance: $5,501.00 Terms: Minimum High Balance: $12,597.00 Limit: $18,500.00 Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend Date: 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK OK OK ND ND ND ND ND ND OK OK OK OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ CAPITAL ONE EXPERIAN EQUIFAX TRANSUNION Account Name: CAP ONE BK CAPITAL ONE Acct Type: Credit Card - Revolving Terms Revolving or Option Acct Status: Open Open Monthly Payment: $15.00 $15.00 Date Open: 7/1/2007 7/1/2007 Balance: $179.00 $179.00 Terms: Revolving High Balance: $223.00 Limit: $500.00 $500.00 Past Due: Payment Status: Current Pays account as agreed Comments: CREDIT CARD 24-Month Payment History ? Legend 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK ND ND ND ND ND
CONTINUED Experian: Equifax: TransUnion: ^Top of Page^ CAPITAL 1 BK EXPERIAN EQUIFAX TRANSUNION Account Name: CAPITAL 1 BK Acct Type: Revolving account Acct Status: Open Monthly Payment: $15.00 Date Open: 7/9/2007 Balance: $179.00 Terms: Minimum High Balance: $223.00 Limit: $500.00 Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ CMI EXPERIAN EQUIFAX TRANSUNION Account Name: CMI Acct Type: Collection Account Acct Status: Open Monthly Payment: Date Open: 3/3/2005 Balance: $405.00 Terms: High Balance: Limit: Past Due: Payment Status: Collection account Comments: Placed for collection 24-Month Payment History ? Legend Date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - - - - - - - - - - - - - - - - - - - - - - - - Experian: Equifax: TransUnion: ^Top of Page^ COLLECTION EXPERIAN EQUIFAX TRANSUNION Account Name: COLLECTION Acct Type: Collection Account Acct Status: Open Monthly Payment: Date Open: 4/15/2003 Balance: $62.00 Terms: High Balance: Limit: Past Due: Payment Status: Collection account Comments: Placed for collection 24-Month Payment History ? Legend Date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - - - - - - - - - - - - - - - - - - - - - - - - Experian: Equifax: TransUnion: ^Top of Page^ CREDIT MANAGEMENT EXPERIAN EQUIFAX TRANSUNION Account Name: CREDIT MANAGEMENT LP CREDIT MANAGEMENT Acct Type: Collection Department / Agency / Attorney Collection Account Acct Status: Closed Open Monthly Payment: Date Open: 3/1/2005 3/1/2005 Balance: $405.00 $405.00 Terms: 1 Month High Balance: Limit: Past Due: $405.00 Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department Unpaid Comments: Unpaid 24-Month Payment History ? Legend Date: May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 03 03 03 03 03 03 03 03 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 KD Experian: Equifax: TransUnion: ^Top of Page^ CREDIT ONE BANK EXPERIAN EQUIFAX TRANSUNION Account Name: CREDIT ONE BANK CREDIT ONE BANK Acct Type: Credit Card - Revolving Terms Revolving or Option Acct Status: Open Open Monthly Payment: $20.00 $20.00 Date Open: 7/1/2007 7/1/2007 Balance: $80.00 $80.00 Terms: Revolving High Balance: $245.00 Limit: $300.00 $300.00 Past Due: Payment Status: Current Pays account as agreed Comments: CREDIT CARD 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK OK ND ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ CREDITONEBNK EXPERIAN EQUIFAX TRANSUNION Account Name: CREDITONEBNK Acct Type: Revolving account Acct Status: Open Monthly Payment: $20.00 Date Open: 7/16/2007 Balance: $80.00 Terms: Minimum High Balance: $245.00 Limit: $300.00 Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ CRESCENT B&T EXPERIAN EQUIFAX TRANSUNION Account Name: CRESCENT B&T Acct Type: Installment account Acct Status: Open Monthly Payment: $351.00 Date Open: 12/26/2006 Balance: $12,210.00 Terms: 60 Months High Balance: $13,837.00 Limit: Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend Date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK OK OK OK OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ CRESCENT BANK & TRUS EXPERIAN EQUIFAX TRANSUNION Account Name: CRESCENT BANK AND TRUS CRESCENT BANK & TRUS Acct Type: Auto Loan Installment Acct Status: Open Open Monthly Payment: $351.00 $351.00 Date Open: 12/1/2006 12/1/2006 Balance: $12,373.00 $12,373.00 Terms: 60 Months High Balance: $13,837.00 Limit: Past Due: Payment Status: Current Pays account as agreed Comments: AUTO 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK OK OK OK OK OK OK ND ND ND ND ND ND ND ND ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ FIRST PREMIER EXPERIAN EQUIFAX TRANSUNION Account Name: FIRST PREMIER BANK FIRST PREMIER Acct Type: Credit Card - Revolving Terms Revolving or Option Acct Status: Open Open Monthly Payment: $20.00 $20.00 Date Open: 7/1/2007 7/1/2007 Balance: $78.00 $78.00 Terms: Revolving High Balance: $178.00 Limit: $250.00 $250.00 Past Due: Payment Status: Current Pays account as agreed Comments: CREDIT CARD 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK OK ND ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ FST PREMIER EXPERIAN EQUIFAX TRANSUNION Account Name: FST PREMIER Acct Type: Revolving account Acct Status: Open Monthly Payment: $20.00 Date Open: 7/8/2007 Balance: $78.00 Terms: Minimum High Balance: $178.00 Limit: $250.00 Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07
CONTINUED OK OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ HSBC BANK EXPERIAN EQUIFAX TRANSUNION Account Name: HSBC BANK HSBC BANK Acct Type: Credit Card - Revolving Terms Revolving or Option Acct Status: Open Open Monthly Payment: Date Open: 7/1/2007 7/1/2007 Balance: $101.00 $136.00 Terms: Revolving High Balance: $136.00 Limit: $300.00 $300.00 Past Due: Payment Status: Current Pays account as agreed Comments: CREDIT CARD 24-Month Payment History ? Legend Date: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 05 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 OK OK OK ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ HSBC BANK EXPERIAN EQUIFAX TRANSUNION Account Name: HSBC BANK HSBC BANK Acct Type: Credit Card - Revolving Terms Revolving or Option Acct Status: Open Open Monthly Payment: $1.00 Date Open: 7/1/2007 7/1/2007 Balance: $179.00 $104.00 Terms: Revolving High Balance: $208.00 Limit: $200.00 $200.00 Past Due: Payment Status: Current Pays account as agreed Comments: CREDIT CARD 24-Month Payment History ? Legend Date: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 05 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 OK OK OK ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ HSBC BANK EXPERIAN EQUIFAX TRANSUNION Account Name: HSBC BANK Acct Type: Revolving account Acct Status: Open Monthly Payment: Date Open: 7/20/2007 Balance: $101.00 Terms: High Balance: $136.00 Limit: $300.00 Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend Date: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 07 OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ HSBC BANK EXPERIAN EQUIFAX TRANSUNION Account Name: HSBC BANK Acct Type: Revolving account Acct Status: Open Monthly Payment: Date Open: 7/24/2007 Balance: $104.00 Terms: High Balance: $208.00 Limit: $200.00 Past Due: $0.00 Payment Status: Paid or paying as agreed Comments: 24-Month Payment History ? Legend Date: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 05 05 06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07 07 07 07 07 OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ NCO FIN/NA EXPERIAN EQUIFAX TRANSUNION Account Name: NCO FIN/NA Acct Type: Collection Department / Agency / Attorney Acct Status: Closed Monthly Payment: Date Open: 12/1/2005 Balance: $238.00 Terms: 1 Month High Balance: Limit: Past Due: Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department Comments: 24-Month Payment History ? Legend Date: Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05 05 05 05 05 05 05 06 KD Experian: Equifax: TransUnion: ^Top of Page^ ROBERT E SCHODT & SO EXPERIAN EQUIFAX TRANSUNION Account Name: ROBERT E SCHODT & SO Account Number: CARXXXX Acct Type: Installment Acct Status: Open Monthly Payment: $330.00 Date Open: 4/1/2000 Balance: $6,638.00 Terms: High Balance: $11,845.00 Limit: Past Due: $6,638.00 Payment Status: Repossession Comments: INVOLUNTARY REPOSSESSION 24-Month Payment History ? Legend Date: Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 00 00 00 00 00 00 01 01 01 01 01 01 01 01 01 01 01 01 02 02 02 02 02 02 ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND ND Experian: Equifax: TransUnion: ^Top of Page^ WFNNB/EXPRESS EXPERIAN EQUIFAX TRANSUNION Account Name: WFNNB/EXPRESS Acct Type: Revolving Charge Account Acct Status: Closed Monthly Payment: Date Open: 11/1/1992 Balance: $0.00 Terms: Revolving High Balance: $247.00 Limit: $1,000.00 Past Due: Payment Status: Current Comments: Credit line closed-grantor request-reported by subscriber 24-Month Payment History ? Legend Date: Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 99 99 99 99 99 99 99 00 00 00 00 00 00 00 00 00 00 00 00 01 01 01 01 01 OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK Experian: Equifax: TransUnion: ^Top of Page^ Legend OK Current 90 90 Days Late ND No Data Provided* 120 120 Days Late 30 30 Days Late KD Key Derogatory** 60 60 Days Late RF Repossession or Foreclosure PP Payment Plan
The simple answer is that you can attempt to remove the derogatory information and add some aged positive accounts. Some people do not advocate adopting the latter suggestion but, they can argue with the results. Their are many companies which offer seasoned account additions thus, beware and diligently check them out. For what it's worth, your scores are good enough to get into a home now. However, the rates would likely be less than stellar.
Just from reading between the lines, I'd say the best thing he could do to qualify for a mortgage is to get his debt/income ratio down. In my experience, if you have two solid years of credit history, you're good for a mortgage unless you have something hanging over your head or a bad debt/income ratio.
You won't be able to use your wife's income or credit to buy a home unless she rehabs the student loan. But you can and should use PFD on all collections, and if that fails settle them and dispute 'em off down the road. Also, you may be able to dispute off some of the old CO's.
Very true. As for is there anything you can do about student loans, the answer is no. They do not go away. There is no Statute of Limitations. Your income tax refund and any other federal money can be taken to go toward the loans. Salary and bank accounts can be garnished without a lawsuit. She needs to do something about her loans NOW. I would suggest you put off the house for a while and get the loans paid. I don't know if she can rehab again if she defaulted on a rehab. The 10% interest may be very reasonable. These loans will only get worse.
All good suggestions but, I don't see wherein the OP said how much he makes. In light of that, DTI isn't really applicable until we know that. For that matter, it may be plausible to circumvent the student loan issue by leaving the spouse off of the app. He could improve some of the poor utilization, including delinquencies, by either paying them down/off or adding more avaliable credit. The latter tends to be a better option insofar as you don't run the risk of lowering the scores by upping the date of status by making payment.
