After declaring Chapter 13 bankruptcy about 14 months ago, I find myself in a position where my best option for finding a home is to purchase one (rather then rent an apartment, which is simply not an option for me in this market). My mortgage broker asked me to review my credit report for anything that can be disputed to try to get my score above the FHA 580 FICO threshold. We only need to move it 4 points. I pulled my reports last night and they seem fairly accurate I only found a couple small things:
- Even though my student loan was not included in the bankruptcy, there is a remark on the account mentioning (but not including) the bankruptcy on that account. Due to the bankruptcy, that account was closed and "permanently transferred to the government," even though I was making payments.
- One of my other revolving accounts that was included in the bankruptcy--and subsequently closed by the creditor--is not being reported as closed.
Does anyone know if successfully disputing the remark on my closed student loan account, or the open/closed status of the other revolving account would help to improve my FICO score?