Persistant bad credit! Help!

navywife061607

I am a 24 mom, wife, and soon to be veteran of the Navy. Since I'm getting out and pursuing law school while my husband is getting out in a little over a year and going to the police academy, we're looking at purchasing a home. My credit, however, remains in the gutter despite all my efforts to raise my score. My car will be paid off in two months, I have no debts left other than that... I have paid every utility, bill, loan payment, etc ON TIME for the past year! And yet the last time I checked my score, it was LOWER!!! I'm at a loss... it seems that once you get a low score, it's impossible to raise it! At this point, my income is higher than my husband's, yet his credit score is drastically higher than mine, so we're stuck in a catch 22 of using my higher income or his higher score to apply. Either way, we're going to get approved for less than we'd like. Any advice? I've tried writing the letters to creditors to remove erroneous information... after 120 days, the incorrect information is still there. Help!

cattie1

moving around a lot and not being on the electoral role and changing jobs a few times can go against you, also if you have made a lot of applications for credit in a short space of time and if you have lots of credit e.g credit cards with high limits-even if they are not being used, can affect your score.

all_hours

Hi,

You could also ask this question on the mortgage + endowments forum. One of the brokers might be able to explain how this would affect your mortgage application.

http://forums.moneysavingexpert.com/forumdisplay.html?f=15

cattie1

all_hours i posted something on the mortgage board 4 weeks ago and got no replies to this day!!!!
it's probably better in here where people reply!

all_hours

cattie1 wrote:

all_hours i posted something on the mortgage board 4 weeks ago and got no replies to this day!!!!
it's probably better in here where people reply!

You're right this is one of the busiest forums on this site.

Have you bumped your post to the top again - sometimes the person who can help isn't there when you post and the post slips off the front page and it isn't seen?

cattie1

no i just kinda gave up hope! but thanx.