Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
Sjm3003

0 Contributions
0 People Helped
I'm trying to buy a home.Have med bills in collection.should I pay them off even if it's closed?
Mid fico is 617. I need to bring it up to qualify for loan.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3670 People Helped

Reality check

Its rare that a lender will give you a mortgage with any collections on your report. 

You say the Med bills are "closed" but the reality is if they are in collections then the account is still due and payable.  There are ways to deal with debts in collections that may be able to get them taken card of, Read the articles on Validation letters and Pay to delete to find ways to get the debts taken care of.  As long as collections are on your report your score will not go up high enough to get  a good quality loan with a low interest rate.  Your goal should be to get your score above 740 at a minimum.

Good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.