Bad Credit?
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My dad co-signed for my sister on her house... she was 60 days late paying and MY DADS credit dropped 250 points. Is that really bad? My dad was trying to get a bridge loan so we could move while our other house is on the market... will we still be able to do that? how long will it take for my dad to fix his credit? PLEASE HELP!!!!!
Bad Credit?That is a horrible drop; your sister really screwed him bad. People can work for years trying to get their credit from 500 to over 700. Now to the solutions; as far as how long it takes, it usually corresponds to how much you are willing to pay. You could try it yourself and most likely fail over the course of a couple years or try some other alternatives ranging from $20 to $125 to $599 to $2500. Bottom line, there are tons of programs out there to help. Check out the free evaluation form at the source website. Maybe they can help. Good luck.
Bad Credit?you wont like the answer and it wont be voted as your favorite because i dont feel like typing that much right now, but a co-signer is on the hook just as much as your sister.....once you start passing 60 days, things get bad...albeit 250 points seems a bit extreme....but then again I dont know the FICO algorithim
Bad Credit?Have your dad contact the creditor, explain the situation. Let them know that he is trying to buy another home and the derogatory information is effecting a major purchase. Sounds corny, but everyone that answers the line at a collections agency or late pay department has a heart of stone. Some are real people and they have feelings just like everyone else. Tap into their emotions and accomplish your goal. If the account is current, ask them to delete as a one time courtesy. If this is not the first time the payment was late, they may not, But it is worth a shot. Hope this helps. As a side note, I have clients that this has worked for. It may work for your dad as well.
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