I have a credit score of 570, and I have about $3700 of charged offs and accounts in collections. I have no other outside bills, except student loans, which are about $65,000 between undergraduate and graduate school, which have been deferred because I’m finishing up my masters. I know this sounds a little personal, but is there any hope for me, when it comes to purchasing a new home. Should I try to make a settlement with these collection companies to increase my chances and improve my credit score. I know that people out there get cars taking away and worth more than that and houses. So, I am looking for noteworthy information. I do know that speaking with a professional maybe beneficial. What programs do they have out there for first time home buyers with bad credit?
So, If I do pay the full amount how long would it take for my credit score to increase and these debts to be cleared from my report.
In addition, these accounts would be erased from my credit in May 2012. i think I am going to just work on my credit.
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