Married Couple Mistakes Requesting Advice

Married Couple Mistakes Requesting AdviceMarried Couple Mistakes Requesting Advice
AngeloHix asked 4 years ago

This forum is a wonderland of knowledge and I thank you in advance for taking time to help.

Now for my story. i’ll try to keep it simple, where we started, where we are now, and our goal.

 

 

Where we started:

Me: up and down with credit habits but have neglected a few items which I cringe when I go thru them ,as i know you all may

My Wife: Started her credit journey last year and we got credit card happy then had some financial hard times and we fell behind that led to collections/chargeoffs on the following accounts

 

 

Where we are now:

Under my name 620 Credit Score Experian

BK OF AMER

May 04, 2007

Charge-off settled

 

CAPITAL ONE
Credit Card
Apr 01, 2014
Closed
$ 658 charged off in collections


CAPITAL ONE
Credit Card
Oct 02, 2013
Closed Secured Credit Card

 

20k in student loan deferred til 2016 July

Under my wife’s name: sub 500 credit score

7 Cards 8,500 owed 5k original balance 

thre is nothing else reporting on her credit report since it’s not even 3 years old

 

original Balance-500

BRCLYSBANKDE-I am a Authorized user

Credit Card

Aug 26, 2014

Closed

$ 1,064

CAPITAL ONE

original balance $ 500

Feb 16, 2014

Closed

$ 734

CAPITAL ONE

original balance $ 1,000

Aug 25, 2014

Closed

$ 1,290

CAPITAL ONE

original balance

$ 500

Aug 25, 2014

Closed

$ 701

CREDITONEBNK

original balance $ 300

Oct 31, 2014

Closed

$ 872

DISCOVERBANK I am a Authorized user

original balance $ 1,500

Sep 05, 2014

Closed

$ 1,960

FST PREMIER

original balance $ 700

Nov 05, 2014

Closed

$ 1,901

Our goal: We have 5-7k to use toward pay debts but are looking for the quickest way to improve our score to buy a house and have 10-15k in credit cards for business use.

 

Should we settle the charged off accounts for 5k or less or keep cash on hand and pay for each one at a time at our convenience?

 

Thanks again and questions please ask, any additional mindset I am all ears

 

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