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What should I do?

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MollyB Guest	Posted: Wed Oct 05, 2011 11:31 am    Post subject: What should I do? Like 0 Dislike 0 I have three medical bills against me on my credit report that is making my credit score poor 607. Before that, my score was in the 700 range. I am accurate when it comes to paying my bills on time. I pay the medical bills each month what I can. However I want to get a loan for a house and I am afraid that will go against me. It says it is KD (key derogatory) Will this have an effect on how much of a loan I get. Personally, i don't think this should go against anyone as long as you are paying them something! Any advice? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Oct 05, 2011 9:00 pm    Post subject: Like 0 Dislike 0 Hi MollyB! Welcome to forums! With a credit score of 607, it will be quite difficult for you to qualify for a loan. You won't qualify for a conventional loan as it will require you to have a credit score of 700-720. You may qualify for a FHA loan with this score. Moreover, key derogatory items will definitely have a negative impact when you apply for a loan. The lender may ask you to pay off the debt in full. Feel free to ask if you've further queries. Sussane
joshuaheckathorn Joined: 09 Feb 2010 Posts: 106 Location: Seattle, WA 18.81 Dollars($)	Posted: Thu Oct 06, 2011 2:21 pm    Post subject: Like 0 Dislike 0 I'll assume all 3 of these medical debts are in collections. That will most certainly make it difficult to get approved for a loan, and it will continue to do so until they fall off your credit reports. Remember, paying off a collection or charged off debt, doesn't necessarily remove the account from your credit reports. And as long as they remain on your reports, they'll continue to drag your credit scores down. You can try to negotiate with your creditors to remove the negative marks in return for payment in full; however, many will not agree to that type of arrangement. Of course, it doesn't hurt to go for it anyway. You may get lucky. _________________ Creditnet.com: Compare the best credit cards and apply securely online.
mrsold Joined: 24 Sep 2011 Posts: 4 Location: San Jose, CA 1.53 Dollars($)	Posted: Thu Oct 06, 2011 3:24 pm    Post subject: Call medical bills & try FHA Like 0 Dislike 0 My suggest to call medical bills. They maybe can give you 30-40% discount. One of clients just did it last week. You can settle it. Regarding mortgage, maybe you can try FHA. _________________ Best Rates & Best Services. No Cost Loan @ www.RFLoans.com

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