Looks like i have a long road to go, but with help it shouldn’t be too terrible…I was in the market for a VA home loan, but it will probably take me at least a year or more to clean this mess up!
Long story short, I was stupid and bit off more than i could chew a few years ago. I went through a foreclosure and several charge offs. I currently have three collections accounts one is medical for $ 164, and the other two are credit cards: one for $ 373 and the other is $ 795. I do have a few charge offs from Capital One that have not hit my collections yet. I have three accounts in good standing. A Discover card with a balance of $ 6598/CL of $ 6500 and two auto loans. The foreclosure is still being reported as open and late with a past due balance of $ 35,983. The foreclosure was finalized in January 2012.
Should I PFD the collections for full price or negotiate a settlement? What other advice can you guys offer? I know that my utilization is killing me…that will be addressed asap. My current FICO scores per the VA lender are EQ 521, EX 503, TRANS 518