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I ended up getting three Credit cards and using them in an attempt to stay in school…mission fail. lol so for a while I’ve been out of school and working hard to try and keep up with the bills. my fiance was also out of work, so I began to miss a few of my Credit card payments. Six months ago my Fiance and I both found pretty great jobs and since then I’ve managed to pay off two of my three credit cards and haven’t missed a payment since. I also had my student loans deferred. My fiance and I are now considering buying a house in about a year, would I have good enough credit to do so? how long does it take for a late payment to fall off your credit score? I also have car insurance That I pay monthly and have never missed a payment on that.

2 Thoughts on I Graduated from high-school in 2007 I worked fast food a few years after I graduated and started college.?
  1. Reply
    jackie m
    November 29, 2011 at 4:45 pm

    UK – It takes 6 years for late payments or any debts to be removed from your file once they have been paid. It doesn’t matter about your car insurance, I am in same position with previous credit cards that have now been paid and I pay my car insurance every month on time but I still have a bad credit report.

  2. Reply
    HillClimber
    November 29, 2011 at 5:09 pm

    “both found pretty good jobs” forgives a whole bunch of sin. Go to the places where you will apply for a home loan and ask all the questions. No one here speaks for them. Be sure to ask what home price range the two salaries put you in and what they will expect for a required down payment. You are on the right road and the lenders are desperate for business. So talk to at least 2 and better yet 3. Rate them on the basis of the interest rate they will give you and the down pay required When you are ready to shop for a home, go to the lender you chose and get pre-approved. Use a fixed rate (historical low) and not an adjustable rate (lower but will go much higher over time). In the mean time, educate yourself about becoming a home buyer. Lots of stuff on line worth the time to read it.

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