How To Start
I am a single mother, trying to get my credit back in place. As far as I know my credit is in a good shape and it will be clean by january next year. I am also in the process of divorce. I would like to wait until i get divorced and my credit is clean to get a house, but my friends keep telling me that the interests are gonna raise up by january next year and that this is the best time to get one. Can somebody help me to make a good decision? 
The first thing I would do before you make any decision is get a copy of your credit report and see what is really on it. Then proceed from there. You can get a free one here:
https://www.annualcreditreport.com
Thanks for your response split. Yes my fathers score was going to be used for salary purposes. Also one more thing. In paying off my collections...would this affect negativly on my report? I do remember reading somewhere that this will update some kind of date in the report thus making it look like its a recent collections account.
If so how would be the best way to get rid of the entry? Additionally should i even pay it at all?
Quote:
On 2005-07-04 18:30, daythinkr wrote:
Split,
Thanks again for your reply. Concerning the debt I paid in full...well. Unfortunately my credit did go down. I have contacted the collections company and they were happy to help. They told me that they don’t think that they are allowed to remove the entire entry now that it has been paid off. They do understand that it is paid off and are baffled as to why my score does not reflect it.
In my experience it is not so much a problem with the people reporting your credit (collection agencey, bank, etc.) as with the credit bureu. In my case my bank mistakenly reported a loan as charged off to the CRA. This was a big hit on my credit score to the tune of about 150 points. The bank actually sent a letter to the bureau to correct the error and sent me a copy. They still would not take the negative information off of my report.
However, once I filed a dispute on the information it came off right away.