My FICO score is 590. and im to explode with disappointmet

Asked by Ghostvet, 30907 Mon Jul 16, 2012

I am 25 years old. Im a Veteran recieving 70% disability, and i work as a Medic on a ambulance. i make about 40,000 a year. i do my absolute best to help everyone in everyway i can. i have a wife and two kids who deserve the best. i have been trying to get my credit where it needs to be, i have lexington law firn working on it, and i have seen some good improvements, but today i went to try and get pre-qualified, and got told no due to me FICO being a 590. (they required atleast a 600). I just dont know what to do. My lease is about up, and im so tired of renting, my family deserves better. But yet after all ive done, all i have sacrificed, both home and in iraq, i cant own a home?? i dont know what to do. im so tired of letting my family down.

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Hank Miller, Agent, Alpharetta, GA
Mon Jul 16, 2012
Don't use the military service as a crutch or excuse - I gave over ten years myself as have thousands of others - we are a special breed that volunteered - and leave it at that. You also know that despite all of the nonsense about supporting troops, Washington really could care less about vets. So....

Get with a reputable credit counseling service and have them evaluate your situation. You need to spend less than you make and despite what you think your family deserves, they will get what you provide. You are at least working, seem motivated to do what it takes and seem to be porperly motivated - that alone puts you in good shape. Another opinion from a counselor will help - get on it.

Hank
Web Reference:  http://hankmillerteam.com
4 votes
Hi, great advice Hank!
....although I do sympathize with Ghostvet, your advice was dead on, each individual is responsible for his or her credit, spending, etc... when I decided to purchase a home a few yrs ago, I knew I would have to get my credit up to par,I got copies of my credit reports, looked them over for errors, I disputed errors, had 2 removed, and by paying my loans, credits cards on time, and paying off my least expensive credit card ($550) after about 6 mos. my credit score went from 625 to 710, I then contacted a local hud agency, and after taking a few homeownership classes, I was finally able to purchase my own home with 3% down payment.

The process is not easy, but it is possible.....and I didn't pay anyone to help fix my credit... I took charge and did what was needed. take care wish everyone trying to improve credit all the best!
Flag Mon Apr 29, 2013
Its not a crutch, far from it. But i do believe it is a fact. im no expert in credit and how it is calculated, but i do know that one of the qualifing factors are assets when it comes to getting financed. i know the VA home loan is kind of like a promise that in the event of foreclosure, 35% of the loan will be paid to the lender from the VA. i do know that having a garanteed income, such as the disability, is also an asset. and its disapointing to see so many Vets, that have gone through lord knows what, have to be faced with constant rejection from the very system they fought for. Im not trying to argue,.. your the expert not me. But i was on here looking for advise, not a drilling. I cant tell you how much money ive poored into repairing my credit. something that was distroyed while i was over seas, by someone i once trusted. ive been through credit counceling, ive got a lawyer, and ive paid all i can pay. now im down to where the medal meets the meat, and i cant Buy cause of 10 pts
Flag Mon Jul 16, 2012
Tonya Rodrig…, Renter, Augusta, GA
Thu Aug 22, 2013
You are doing a lot of hard work and paying a lot of money repairing your credit that you could be keeping in your pocket. Did you know that most items on your credit reports only require a dispute with the credit bureau that has the err or outdated info. If no response within 30 days from the creditor/company who reported the info it will be deleted? Credit repair agencies are doing for you what you could do for yourself for a lot less time and money. Did you also know that it could be one item or ten and you can report to all 3 bureaus ? I've seen my own scores improve by doing so. Keep in mind that credit reports vary from month to month so you may want to invest in credit monitoring like Scoresense.com or even credit Karma. Or just go to your bank and they will help you.
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