How to repair your bad credit standing

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How to Repair Your Bad Credit Standing

In these financially hard times, your 1 chance for survival is to have some decent financial savings in the bank. That way, in the event you lose your job as a result of recession that is happening, you will have something to be able to fall back to, some money that will help tide you over until you get another work. If you dont have this particular, your only choice is to get a loan. However what if you have a poor credit standing? How can you repair poor credit?

A bad credit standing is actually achieved if you have managed to not take care of your money and loans. People with bad credit scores are those that have not acquired any payments for loans for years or even those that have not was able to even pay 50 % of their credit card debts. When you have a couple of bank loans and some credit cards that you have not even fully paid in a long time and with interest currently growing, chances are you use a bad credit standing.

Even though it is quite easy to get a bad credit standing, it is hard to repair your reputation with the banks and get yourself. However, it isn’t saying that it is several impossible task. You are able to repair your bad credit following some of these tips and tricks.

1. Get a Credit counseling
Admitting that there is a problem and seeking assistance is the first sign that you are willing to change your techniques. For banks as well as financial companies, this is an excellent sign. It means that you’re willing to make modifications in your life and you are prepared to face the consequences of the actions. Credit counseling provides you with sound advice on how to manage you debt and how to make tiny payments until you end paying for the debt. It’ll even give easy methods to save money and on the way to quell your shopping habit.

2. Making payments
You also have to show that you are going to invest in your loans and you can do that by making regular repayments to the account. It doesn’t matter if you cannot pay the entire amount or that you are only paying a small portion of the total loan. The most important thing is you are paying the loan.

3. Consolidate your debt
A lot of people who have multiple debts will be asked to help make one huge loan to fund all the other debts so that you will only need to worry about just one single loan. Before you do this, make certain you have checked with the banks and have managed to get the lowest interest rates for that loan. This way, you can save significantly especially if the interest of the new loan is significantly small compared to the interests from the loans that you are paying for.

4. Make a commitment
Visiting the bank and assuring them that you will be spending your loan will give the impression that you are a man of one’s word and that you aren’t afraid to face all of them. When you do this, it’ll be more likely for the financial institutions to give you a loan once again especially if you need them in an emergency. After all, you’re man enough to repair your badly-shaped credit rating. How can they not believe in you?

Comments: 77

  1. Virgie January 28, 2013 at 4:57 pm Reply

    I’m in many debt because of hospital bills that emerged along with other expenses. Does anybody are conscious of any banks which will give financial loans to those who have poor credit?

  2. Hal March 15, 2013 at 10:22 am Reply

    The first letter is a formal complaint that they are reporting inaccurate c infor. Letter 2 is a Dispute Letter. All my debt is 10 – 30 years old how do I freeze my interest and learn about statues of limitations on debts?

  3. Clyde April 20, 2013 at 4:07 am Reply

    i was purchecing a vehicle in 2006 from a dealership in oregon, car problems started three months into the aggrement, the dealership wouldnt fix the problems and i didnt know any better but i went and had 2,000 dollars worth of work done and now the car wont run i complained to the owner of the car lot he said dont worry i will take care of the mechanic bill and find a different car. well to make a long story short i got stuck paying the mechanic bill and quit paying off the car on 5-19-06 i have never heard back from the car lot after many attemts to get an answer, they have never come to get the car i still have the car, what do i do? can i get a title for this?
    the car is in my yard easy acsess and not locked in a garage, the car lot is still in buisness but i dont think i defaulted on the loan cuz, the owner is a friend of mine and with in the three months this is the third car i have gotten form him, i have a letter from him stating ‘dont worry about paying any more on the car i will find a different one for you in a couple weeks’ this letter is dated 5-23-06 and the owner actualy lives about 4 blocks from me but hes never home

  4. Glynis April 26, 2013 at 12:33 am Reply

    single mom and I don’t have very good credit to get a loan or something to get ahead

  5. Raymond May 3, 2013 at 10:41 pm Reply

    I have some blemishes on my credit history to say the least. I know the basics of my credit score but can’t stand dealing with the credit bureaus. Is there someone/company out there that is 1. reputable 2. cost effective 3. Safe/Ethical that can take care of this for me. I know this is a sketchy industry and everyone tells me I can/should do this myself, but I’m at my wit’s end here.

    signed,
    Sick of bad credit

  6. Virginia May 4, 2013 at 1:24 pm Reply

    I got credit cards when i was young, and as a result, have bad credit because of collections and such. I am now DEPT FREE but want to start rebuilding my credit score. What should i do?

  7. Benedict May 4, 2013 at 1:25 pm Reply

    I was told this and was wondering if it was true.

  8. Bailey May 7, 2013 at 7:25 pm Reply

    maybe im being selfish, but he has 4 kids with his ex. He is supposed to pick them up on weekend night a week and he alternates the days. He took it upon himself to switch days without notifying his ex. When she noticed the kids were not home she came to our house demanding to get them back and tries to attack him after he says no at our door. It upset my boyfriends daughter and needless to say he tells her she can move in with us at my house (that I own) without asking me. He tells her to take a week to decide and never to this day tells me his plan of trying to move her in. Well, apparently he gives her until tomorrow to decide. I give him much credit for being a stand up dad however, he is being inconsiderate to me! I like his daughter a lot she is a nice girl, but she is a 16 year old with an attitude sometimes. I DO NOT want to live with his kids! I don’t know what to tell him to not sound mean. I’m even thinking about telling him to get a place with her. I feel bad we lived together 5 years and he has done a lot of repairs to my house, but I don’t have kids. I like my privacy i like my free time. I can’t do it!!! I’ve tried to be ok with it, but the more I think about it I don’t want to. Lets face it, she will be using all my hair products, make up, etc.. Plus I am trying to start a business out of my house and it requires quiet. Am I selfish or is he being selfish for just assuming it’s ok? Plus it’s his he drove her mom over the edge with his lack of communication! I can understand her frustration! HELP ME!

  9. Fermin May 15, 2013 at 1:56 am Reply

    So my credit score is something like 562. I am looking to get a credit card with something like 2000 dollar limit or lower that wont have unbelievable fees. Does something like this exist? I’ve applied for credit cards over the last year and have been denied each time. Yeah, my credit sucks. What can I do?

  10. Verda May 15, 2013 at 2:57 am Reply

    single mom with 2 kids and no child support. Leaving the state and my internet and cell phone don’t supply service in my new state. The internet alone wants me to pay $480 just to get out of my contract.

    So how does bankrupcy work? Can I still get my student loans for universtiy? Can I still get utlties to my house? Do they track down my ex and make him pay backpay (that would be bad, I’ll tell you that)? What is bankrupcy?

    Does it just mean I can’t get a bank loan and master cards? Is that all it is? Cuase I can’t get that on studen loan anyway.
    I owe 480 dollars and don’t have it

  11. Collin May 23, 2013 at 8:14 am Reply

    I have a 1994 toyota camry, and the steering wheel has been sticking. So I went to the auto part store to get some fluid. And they gave me this castrol transmission fluid, but its still been locking up. Could it have been the wrong fluid?

  12. Evie June 2, 2013 at 8:52 am Reply

    I went from having excellent credit to having a horrible credit score (I was young and made poor choices). Anyway, I am now working on rebuilding my credit. I checked my score 2 days ago and it said 561. I checked it again and it said that it was a 487. I have not applied for any credit cards, loans, etc. I am current with my bills as well. How the hell could my score go down almost 100 points in 2 days without me doing anything?

  13. Dylan June 2, 2013 at 8:52 am Reply

    Is there a financial guideline, rule of thumb, etc. for how much credit a person should have via credit cards? I am a responsible user and pay off my balances every month. I often wonder how much credit I should carry beyond my regular spending patterns. Should I keep as much as possible for an emergency, or should I streamline and eliminate extra cards/credit due to the risk of identity theft?

  14. Quinn June 2, 2013 at 8:52 am Reply

    paid off, not paid off, paid off with a settlement?where can i go to fix my credit.i want to pay off items but im not to sure how to get started.HELP

  15. Leesa June 5, 2013 at 9:14 am Reply

    I’m in college, with an average job.

  16. Clelia June 5, 2013 at 9:14 am Reply

    I’m looking to buy my FIRST BRAND NEW CAR in a years time, so I’ve been doing some researching.
    I’m finding that pretty much all manuals despite make or model are at least a thousand dollars cheaper than their automatic trans equivalents.
    Now I work a minimum wage job and I can really only afford a monthly car payment of around $300. So the less the whole car costs, the better.
    BUT, I don’t know jack about manuals. My boyfriend knows how to drive one and says he can teach me…
    But are manuals suitable for everyday driving or am I just better off on spending more money to get the automatic?
    I do a lot of highway driving, but for short, maybe 20-mile, distances. All my other driving is stop and go city traffic, except in the summer I drive multiple 120-mile trips out of state.

    So what do you guys think?
    Or maybe what are some pros and cons of each? Like repair costs, reliability, how long does each last?
    Thank you so much 🙂

  17. Randolph June 18, 2013 at 11:28 am Reply

    I mainly need a loan to repair my car but it’s a 94 so I can’t finance on it. Help please.

  18. Adrian June 22, 2013 at 7:16 am Reply

    I am not very business or economically savvy. What does it mean to pay off one’s credit cards? Is it referring to credit card debt?

  19. Janean July 1, 2013 at 6:35 am Reply

    Hello guys I’m a 25 year old guy that have mess up his credit big time.I currently have a public record and I’m paying off my bills on time now but I’m afraid is kinda of late. My score is on the floor, what would you guys recommend? Is my credit lost would I ever be able to get a credit card again?

  20. Gregory July 18, 2013 at 8:36 pm Reply

    Recently divorced and my husband destroyed my credit. My personal credit items are all okay except for the car that I signed for him. He has made bad payments on this car but my car whic is in both our names me being the primary is in good standing. The items which were in both our name such as the house was foreclosed on. I would like to purchase a home soon but with my credit dropping from high 800’s to low 300’s I need to know where to start?

  21. Shaun July 20, 2013 at 10:36 am Reply

    I lost my father to suicide when I was about 10 years old. My grandmother (mom’s mom) moved in with my mom and my brother and I right after that. She has essentially “parked” there for life (so far, for over 2 decades), hanging on to her daughter. My grandmother never had sense enough to get her own stable house to raise my mom and two brothers in. Instead, she moved them back and forth every year to new schools because she liked to jump from apartment to apartment. She also failed at securing a stable job with a future, and as a result, was sleeping in her car at a plaza before she saw the opportunity to come live with her daughter. Ever since, we’ve dealt with her craziness. She has heard a “guy” voice for who knows how many decades. She’s a paranoid schizo, as diagnosed a long time ago. She won’t take meds or get help because the visual, audible and sensory hallucinations that she has are believed to be “real” by her. She will act like other people hear it and they do not. Her basic knowledge of science and how things work is…gone. She thinks she can hear someone “running inside of a house” on a back street, for instance. Or in an attic next door. She is filled with the most unbelievable hatred for anyone on tv or elsewhere that she doesn’t like. I’m not sure that is related to her “condition”…it seems to radiate from her personality in life as a whole. Anyone who accomplishes anything in life beyond her…she hates them. I don’t think she’s ever had a kind word to say about anyone, but her whole life…she has done nothing. She barely worked enough to get like $500 a month in Social Security, and is now 75 years old. A pension never existed…I doubt that she ever kept a job over a few years max. Never kept a car for long, either…junked it and got another one each time it needed repairs. She seems to know that, but by bashing on others and trying to build herself up, she uses that to ignore it. So she will sit around and bash on others on tv and in life who do better than her. Any family member that stands up for the others she bashes on, she will go into the “I don’t want to argue all of the time, you just want to argue all of the time” stance and get mad that nobody wants to hear her bitterness. I likewise do not believe that to be her schizophrenia.

    All throughout life, she has scammed and cheated probably thousands of people out of money. She skipped out on a nursing school decades ago that is still looking for her. She has stolen her own daughter’s mail to try to cover up threatening lawyer’s notices when her and her son stood against her own daughter that she is living with and tried to avoid paying for a vehicle. Her credit has been bad for life. She refuses to follow any type of proper laws in life and likes to do everything “her” way. She won’t even open a package the right way even with a big pull tab that says “Open Here”. She’ll grab a knife and cut it open as if I rat chewed it open.

    My mother struggles with things financially, so I do live at home and help her out in whatever ways that I can. When I get married at some point, however, I will have to leave my mother. I’m quite ashamed to call this lady my grandmother most of the time. She even hates her own grandchildren and great grandchildren. She hates my brother’s wife because he married her and my grandmother “doesn’t believe that anyone should spend their whole life with someone”. Her relationships were full of her selfishness and always failed.

    So at the present, dealing with someone who cries out and screams to a “guy” at night that isn’t there…it’s irritating trying to sleep. She’s unbelievable to try to get along with, fails at any common household tasks…so it’s a constant pick-up-after situation. I realize that she’s old and such, so I don’t want to sound like we have no compassion. We are the only two in my family who have tried to even take care of her. But she drives us up the wall on any given day and can’t get the simplest little thing right. How do we “cope” with this without it affecting us? I know that one day she may have to go into a home of some type because my mother and I will have to work and eventually she won’t be able to take care of herself at the rate of her deteriorating mental condition.

  22. Enoch July 27, 2013 at 7:03 pm Reply

    Store Credit Cards that is?

  23. Katherina July 29, 2013 at 5:56 am Reply

    It has been about 4 years that I have neglected it, I am planning on paying it off in full by the end of the year.How will this effect long term credit after it is paid off?
    would it be futile to try and build my credit after it is paid?

  24. Garry August 5, 2013 at 11:29 am Reply

    I cannot tell you how frustrated I am. The seller sold defective item and now accuses me in fraud. I have been on eBay long enough time to meet good and bad people, but this case is extraordinary one. I have bought pet grooming clippers from the seller, which are appeared to be defective. I have contacted the seller immediately. The seller suggested cleaning and adjusting the blades. I did, but the clippers still did not do any good job. I contacted the seller again for returning purpose and he warned me that I have to send the same item and do not replace anything. Why should I do so? I have sent the same item in the same package and what kind of email I got from him today?
    “This unit has been taken apart and part are not from the unit I sent you. With the worn out parts installed you are correct this unit doesn’t work at all. It is not that it won’t cut bad, it won’t cut at all. This is considered abuse of return policy and fraud. I have reported this to EBAY to see how to handle this. Do you want me to ship these clippers back to you. EBAY steps recommend I file a police report, but only requires it for items over $250. How do you want to handle this? “
    “I am very disappointed and angry that you would try to fraud my family. If you took a closer look at the whole bottom section you replaced. The rubber grip has been completely worn away in spots. It is like you didn’t even try very hard to defraud us. Someone actual removed the pin for the drive mechanism possibly from a previously attempted repair and damaged pieces. The top and bottom don’t even match anymore under indoor lighting. I sold this in good faith at a great deal, I can’t stand fraud and only successful had one person arrested in 15 years on EBAY… “and
    I have no wards – just emotions. I am not a newbie on eBay. I have been a buyer and a seller and never deceived anyone. If my customer is unhappy, I am unhappy as well. I had meet good and bad people as well; but this case is extraordinary one. It seems to me that he has planned this before he sold the defective item. He also accused someone besides me recently, – please read his feedback. What should I do? How to handle this case without stress?
    The problem is eBay took the money for the purchase from my bank account without my authorization. I had to fight with eBay and PayPal and delete the bank account from my PayPal account after.

  25. Lorriane August 6, 2013 at 3:06 pm Reply

    I took my car into the repair shop. They did not repair the car (it was not returned to me in a drivable condition) so I stopped payment on my check to them. The owner of the repair shop says he did repair the car. He has just sent me a registered letter stating that if I do not pay him he “will file a complaint against you and ask for a warrant for your arrest if the this check is not paid within ten (10) days.” I filed complaints against the repair shop with the Better Business Bureau and AAA. I feel that if you bring your car into the repair shop, and they give you an estimate, and you pay the estimate, you’re entitled to receive a car that you can drive away. The car is undrivable. However the owner says that because he got the engine to run he did his work properly. My wife and I are of limited means. Can this owner obtain a warrant for my arrest? He says I passed a bad check. I’m frightened of being arrested for just trying to stand up for my rights. How can we fight back?
    I just received a collection letter for the cancelled check. It says, “Your check referenced in this notice has been returned unpaid by your bank and assigned by your bank to this office for collection.” The owner of the repair shop uses a service that changes a check into a electronic funds transfer. I know I stopped the money from being withdrawn from my account. But now I’m more confused than ever. What do I tell the collection agency? Can the owner of the repair shop go ahead with and file a complaint against me while at the same time having a collection agency attempt to get the funds from me?

  26. Hellen August 17, 2013 at 4:42 am Reply

    Everybody today knows somebody who has cancer, and it is not just limited to adults anymore. Cancer rates are higher in every age group today than they have ever been. Why do you think this is? Is it from the carcinogens we are exposed to in the workplace and at home? Or, do you think it is more likely due to our diets and lack of exercise in America? Or, maybe it is that we are around so many electrical devices, such as cellular phones and microwaves? What do you think is the reason(s)?

  27. Mack September 3, 2013 at 2:46 am Reply

    I have some collections on my credit report that are killing my credit score. I know that you can sometimes negotiate for a delete with the collection agency. Does anyone have any advice on how to do this? I was considering going with a credit repair company but I thought if I could do this it would be better because the collections are mine.

  28. Hung September 4, 2013 at 10:08 am Reply

    I was wondering how long it took to get a good credit score to rent an apartment? Like would would be the score? Thanks in advance.

  29. Maragret September 5, 2013 at 7:04 am Reply

    Long story short, we had our house foreclosed on in January of 2007. We never filed bankruptcy. how long wil that stay on our credit report? We also have many deliquent accounts from credit cards, and one auto repo all going bad around January 2007. Also, how can we rebuild our credit if we dont file bankruptcy?

  30. Elton September 12, 2013 at 7:41 pm Reply

    I have pretty bad credit as it stands but i work and can pay my bill. But need a credit card now for medical reasons. I have monthly checks but not in my name but I control it for the living in the house. But I can only afford a monthly payment not immedate cash on hand. My mom is 75 and sick. I want her to be comfortable and i would like to buy her things she needs now. Not once a month or so. Can you give me some agents that will trust in a citizen of need at this moment and time?

  31. Edison September 12, 2013 at 11:25 pm Reply

    how does credit repair work? is it a good idea if you have bad credit and want to buy a house.

  32. Nikia September 14, 2013 at 10:54 am Reply

    I’ve paid off most of my depts (mostly charge/credit cards) but now i want it off my credit report. How long must i wait for this?

  33. Lionel September 14, 2013 at 12:26 pm Reply

    helped mom start over now will not leave us alone or our side. won’t quit calling husband has said so many times stop and yells but gets nowhere fast. will not even take responsibility of auto repairs. husband got her a car she is paying on because she had bad credit now she will not keep up the upkeep or gas to put in the car. husband is pulling his hair out and starting to effect his health.

  34. Faustina September 14, 2013 at 3:49 pm Reply

    I do have my business plan. I got help with it from a member of SCORE from the SBA. I am trying to build a restaurant. Yes it is new. A building has come up for sale that would work to become established. I do not have the money to invest of my own. I need either a 100% start up loan or a combination of loans. A private investor or even a co-signer for future pay on considered investment. I don’t how this could be done. I have some ideas but getting a lender to them is another story. If I could come up with some money, I might be able to get the owner to carry a portion. The building is on a 21,166 Sq. Ft. Paved corner lot. The building is a free standing 3,028 Sq Ft. Structure built in 1973. Yearly taxes are $5,315.00. It is anchored. Price $415,000.00. I am trying to get a $500,000.00 loan to remodel, equip, stock and get the place open with operating capital and a very small cushion to start making repayment. I do have experience in this as well as Management exp. from previous.

  35. Kip November 9, 2013 at 3:33 am Reply

    I am applying for a secured credit card after bankruptcy (due to medical bills), Is it to my advantage to get 2 or 3 secured credit cards to build history or only use one? I dont really need or want any loans/credit cards right now and I am big on paying cash but I need to rebuild my credit rating. Will 2-3 secured cards build my credit faster then 1 secured card?

  36. Agustin January 2, 2014 at 10:00 pm Reply

    i tried to get a credit report for me and cant find anything. he says i have bad credit because i married him. but my mom and step dad have 2 different credit scores, so im a little confused and i want to get out on our own. please help.

  37. Alec January 22, 2014 at 7:34 pm Reply

    I got my hair cut a week ago. It used to be halfway down my back and in one instant I got it cut to my shoulders :(. My cousin told me I should get it cut unevenly so that it won’t be so poofy. But since my hair is just naturally a bush, that made no difference. She is growing her hair out and she tricked me into cutting my long, black, wavy/curly beautiful hair :(. I feel like dying right now. I’ve been growing it for 4 years and then all at once I find myself staring at the 4 years of hair growth on the salon floor. Only then did I realize what I’ve done. Now I can barely do anything with it. My only option is a stupid ponytail which is really ugly because it poofs due to the short length. When my hair was long the ponytail looked a lot better ’cause the long length made it look thinner and not like I got electrified. Now I seriously don’t know what to do. The only thing I benefited is removing all the dead, dry, split-ends. My hair looks healthier now at the ends but this still isn’t worth removing that much hair. I could’ve instead removed an inch every once in a while. Never have I regretting something like this. I miss my old self. I hate myself now. I can’t even stand looking in the mirror. I used to play around with my hair and I felt like a women with it. Nice and feminine. Now I feel like a retarded man. It’ll take me at-least 3 years to get it all back; I’ll be 21-22 years old (I’m 19 now). This is insane. Winter is near, I loved letting my hair go and wearing a beanie. It looks so cute :(. Now I can’t do shit 🙁
    I have to accept this bush I’ve created….

    Any tips to improve hair growth ? I’ve read online about girls that have cut their hair and it suddenly just stopped growing and stayed that way. I am terrified worried that will happen to mines. How long will it be in 6 months? It’s at my shoulders now. How about a year? Damn I feel like being knocked out and waking up once it reaches the length it was before..

  38. Mary January 30, 2014 at 12:35 pm Reply

    It has been more than six years since I have used any form of credit, but after my (then) husband lost his job, we incurred write off’s and bad credit probably from 2000 – 2002. I am now single and broke with no prospects of good fortune. Afraid to even look at my credit. Depressed. But need to know where I stand and what my future holds

  39. Xiao February 1, 2014 at 11:34 pm Reply

    OKAY I AM MAKING PAYMENTS ON MY OLD BILLS NOW… $20-$50 A WEEK I WORK THREE DAYS A WEEK. I DON’T MAKE THAT MUCH. I HAVE A SON THATS 7 MONTHS OLD. SO MONEY IS PRETTY TIGHT. I NEED A CREDIT CARD FOR LIKE EMERGENCYS. I AM PUTTING WHAT I CAN IN MY SAVINGS ACCOUNT EACH PAY LIKE 10 DOLLARS. BUT I FOUND THIS KITTEN ONE DAY HE WASN’T DOING GOOD. I THOUGHT SOMEONE GAVE HIM RAT POSION OR SOMETHING HE COULDN’T WALK OR ANYTHING… HE KEPT FALLING OVER WHEN HE STAND UP. AND HE WAS SO LITTLE. I TOOK HIM TO THE ANIMAL HOSPITAL AT LIKE 11 AT NIGHT…HE NEEDED A BLOOD TRANSFUSION THEY SAID B/C HE HAD BUGS SUCKING HIS BLOOD. I DIDN’T HAVE THE MONEY. THEY WANTED $700 UP FRONT TO SAVE HIS LIFE…AND I ONLY HAD 300 IN MY SAVINGS! IT BUG ME FOR DAYS I DIDN’T HAVE THE MONEY TO SAVE HIS LIFE. OF COURSE THEY SAID TO SIGN PAPERS OVER TO THEM AND THEY’LL DO WHAT THEY CAN…BUT I JUST DIDN’T BELIEVE THEM THEY WOULD TRY. EVERYONE IS SO MONEY HUNGRY THESE DAYS. AND IT BUG ME FOR DAYS NOT KNOWING IF THE KITTEN MADE IT OR NOT…THIS MIGHT SOUND KINDA STUPID PEOPLE TOLD ME IT’S JUST A KITTEN GET OVER IT. BUT LIKE I COULDN’T BELIEVE HOW MUCH THEY ASKED TO HIS HIS LIFE. AND IT MADE ME SO SAD THAT I DIDN’T HAVE THE MONEY TO HELP HIM. IS THERE ANY WAY I CAN GET A CREDIT CARD FOR REALLY BAD CREDIT WITHOUT PUTTING MONEY DOWN? I AM REALLY TRYING HARD TO GET MY CREDIT TO GO UP AND WORK ON IT. THANKS…I NEED A CREDIT CARD FOR BAD CREDIT PLEASE HELP. I REALLY NEED THE HELP…

  40. Kimiko February 1, 2014 at 11:51 pm Reply

    I filled for bankruptcy in 2005, so i understand that it will show for another 2 years, other than that, i have a mortgage in good standing, have never been late, I do have a line of credit with the mortgage company of 15000, I have a credit of 14000 on it. I don’t use it for purchases, i just pay the monthly amount on it just as I do my mortgage. I don’t have any credit cards and my school loans are all up to date. Is the bankruptcy the thing holding me back? I mean, my credit score is 525, that is horrible, how can i improve that?

  41. Annis February 2, 2014 at 3:07 am Reply

    Ok…So here’s my situation…I’m 23 years old and I have real bad credit. The reason is when I was in college starting at 18 I opened up all these credit cards from the hundreds of people on campus offering t-shirts, cute mugs, etc etc…And then I started using them…and then I began to open up accounts at my favorite stores like Victoria’s Secret and Express. I was blessed to be on full scholarship in school, so I didn’t have any loans to worry about paying back. I had a small job in school and was actually doing a good job of paying off everyone…but my shopping seemed to get carried away and I never took notice of the increasing min. payment due. I eventually could not keep up and started slacking on my payments…and I also had quit my job because school and sports were becoming overwhelming…SO…I started getting the evil letters of threat from the companies about sending my information to collections and at the time I had no idea what that meant so I started to freak out and called one of those debt solutions program to help me out.

    to make a long story short…I used the debt solutions program and added only a few and began paying the other ones on time. Then I opened up more accounts like a greedy dummy and it became out of control again. So I had my accounts go to collections. I paid off 3 but I still have about 4 out there. In total my debt probably equals up to or around $2250. My mother says I should just pay it off over time…but then I was reading where even if you do pay them off they still show up negative on your account. I looked up my credit report and so all the negative things and I just want to fix it so everything goes away. Somehow I was able to get a car loan about a year ago and at the time when they looked up my credit score it was like 580…since then I have paid off 2 accounts. On my credit report it says that the majority of my negative reports will be removed in 2014. I want to just get my credit together now! I want to go back to school to get my master’s but I doubt anyone will give me a loan if they look up my credit history. I am way more responsible now and am in a better place financially. Just someone help me and tell me what I need to do! So just to verify what I need answered:

    1. How can I get started cleaning up my credit

    2. How can I prove to creditors that I am trust worthy and I was just young and careless when I first opened those cards

    3. Will I be able to get a loan for grad school???

    ps the only credit or loan i have out is my car loan which i’ve been paying on time for the past year (i got it last july)

  42. Jacquelyne February 2, 2014 at 1:06 pm Reply

    I don’t have any open credit cards. I doubt anyone would give me one with my score, sadly enough. I had three but got behind on all. Currently, all accounts are closed but I am making payments to get them all paid off. I’ve had loans with my bank and they were all in good standing and paid off on time. I have a few other issues I’m trying to take care of as well. I have been been paying on my closed accounts since January and still my credit score stays the same. Will it go up since the accounts are closed?

  43. Carmon February 6, 2014 at 4:55 am Reply

    I have poor credit from immature use of credit, and I’d like to know how realistic it is that I can rebuild my credit from the 500 range back to the 700-800 range. If so, what are the quickest routes to getting there? Lastly, if I have accounts that I have had bad payment history in the past, if I have money to do so, is it better for my credit standing to pay off the account quickly or to pay regularly on them for 6 months?

  44. Lonnie February 20, 2014 at 10:40 pm Reply

    I am looking for information on how to fix my credit score and my credit report. I am going to be 28 this year and I just had a son 4 months ago. When I was a teenager I was stupid and ruined my credit with credit cards. I also found out my mother opened utilitiy bills in my name when I was a child and then never paid then. I have student loan debt as well. My credit score is in the 500s and I have a lot of bad things on my credit report. I am looking for what my best options are to repair and fix all this so that I can eventually some day have good standing credit cards and if I ever need to take a loan out for a car or home or emergency that I have that option. Im not really sure what I should do because some people say that once a credit card is sent to a collection agency that it does not matter if you pay the balance or not that it will still be on your report. Please help??

  45. Garrett February 20, 2014 at 10:40 pm Reply

    I brought my truck into A1 auto repair on Fri. 10/03/08 running great (no problems with the engine or transmission operation) with a transmission fluid leak. Spoke with the owner, Tony. 1 ½ hours later Tony tells me the leak is caused by the transmission fluid pump seal & it is $375+tax to fix. I approve the repair.

    On Mon. 10/06/08 the general manager, Ryan Berg, calls me @ 2:00pm. And tells me that my transmission fluid pump itself is bad and now it will be $900+ to fix. I know express my concern about the situation. I explain that I don’t have a lot of money and ask for a payment option then approve the repair with a confirmation that this will fix the problem.

    On Tues. 10/07/08 @ 4:45 pm. I get a call saying that my truck will be ready to pick up. When I picked up my truck I asked if they had tested it and they confirmed. As I am leaving the shop I immediately hear a noise in the gears as I drive and I have to go home because they are now closed at 5:00pm. And I do not have a ride to leave it there. As soon as I get out at home I look under the truck and see transmission fluid everywhere.

    On Wed. 10/08/08 @ 8:00 am. I bring it back to them and Ryan says he will get it fixed. At 2:00pm. Ryan calls and tells me my torque converter is bad and it will be $170 to fix so I approve.

    On Fri. 10/10/08 @ 5:00 pm. Ryan calls me and tells me my truck is ready to pick up and that they have driven and tested it. When I pick up my truck both me and my co-worker TJ observe that there is transmission fluid still leaking. When I bring this up they say that they forgot to wipe it off and then do so. At this point I get under my truck to take a look and observe that there are 2 missing transmission bolts and a leak still present. Now I don’t have a ride and I am fed up. On my way home on the freeway my truck will not shift into overdrive gear. I call Ryan @ 5:18 pm. and he is still at the shop . I tell him about the problem and he says he will call me the next morning to bring it back in. At 5:23 pm. I lose all my gears and I have to pull over , I am stuck. I called and left a message on there answering machine to let them know what happened.

    I will not bring my truck back there and I have a contract to pay about $1000.00 with $444.56 paid already on my credit card. Now my truck is not drivable, has a funny noise and still leaks I want to know what they are liable for and what I should do next.

  46. Raymonde February 21, 2014 at 1:27 am Reply

    My credit took a dive when i was unemployed after college, missed three months of payments and it never recovered. was getting stressed, but realized i’ll probably never apply for a loan anyway, so does it really matter? and yes, this includes car and mortage
    It seems crazy to think that three late payments dropped my score 130 points and won’t be removed for seven years. It’s also nuts to think that an employer would use this to determine my capabilities, banking/financial field is one thing but anything else is silly. I do pay my bills on time, but still my credit has gotten no better. I was thinking about trying those cooky credit fix solutions but it just seems crazy that my worth would determined by be three numbers. Thank you all for your answers, by the way- i didn’t know some of this info

  47. Everett February 21, 2014 at 12:06 pm Reply

    I have major defaults on student loans back a few yrs due to hardship. also a credit card. i finally started paying back student loans and i hired a company to repair my credit by sending letters to take negatives off my reports. in the meantime i wanted to build my credit because id like to own a home in 2 years after im married. will 2 secured cards and a secured loan work? help

  48. Noe February 21, 2014 at 2:02 pm Reply

    anyone know of a credit card when you have bad credit?

  49. Cristobal February 21, 2014 at 6:10 pm Reply

    My friend and I were talking he told me he’s in a program called The Lighthouse Credit Foundation which helps repair his credit,he stated this program is free he also stated his payments with this company is $200.00 a month to repair his credit he owes something like $5 grand.He has the money to pay off the whole amount but the Lighthouse Credit Foundation stated that would be the wrong thing to do as it would show as a “settlement” and it would look bad on his credit file???. I would think the sooner he paid it off the better .Am I right shouldn’t he just pay the rest of the blance he owes?
    but he’s already been making payments to this company he now need to contune right?

  50. Emanuel February 21, 2014 at 6:11 pm Reply

    So this morning i got a call from “Credit Solutions” saying the saw my resume on “careerbuilder.com” and i never have heard of C.S.
    while on the phone they spoke very quickly and under stood that they provide great benefits and they want to interview me for a position that’s open tomorrow!
    1. i don’t know this company but i am desperate for a job
    2. i have no idea what i have to do at a credit solutions company
    3. i have gone on “google” and found several scams from people the were costumers from this company. so i want to know is this just a scam or is this legit, what is this company, their website surly does not explain very well. please give me some input!

  51. Carla February 21, 2014 at 6:11 pm Reply

    Ok i paid off all my old debits and 3 of my current credit cards and waited 3 mths and my score shows everything paid for ETC but still not high enough for FHA loan what can i do to raise my credit score?

  52. Hal February 21, 2014 at 10:22 pm Reply

    I’m advising a friend of mine with the following situation:

    8 Credit Cards with the following limits and purchase APRs

    1. $2,000 limit and 29.99% APR
    2. $500 limit and 28.24% APR
    3. $600 limit and 21.00% APR
    4. $300 limit and 21.00% APR
    5. $300 limit and 14.90 %APR
    6. $300 limit and 14.90% APR
    7. $1,350 limit and 21.00% APR
    8. $360 limit and 21.37% APR

    Yes, this is ridiculous, so let’s get past that and get to the point: I’m suggesting that they pay off any remaining balances on the card and close about four of them. NOT all at once but over time (say within the next six months).

    Sure, this affects their credit score, but assuming it’s already pretty bad, would it be better to close half of those cards, get the balances to zero and then ask for higher credit limits on, say, the lowest interest rate cards?

    I would say “cut the cards”, but really that is an insane amount of accounts.

    Thanks!
    Friend or family, the point is to repair the damage that has been done – the main question is if they are doing so badly, would closing the accounts really hurt their already bad score? They are much older and are obviously in need of help but at a stage where I can only advise so much. My credit shines in comparison, that’s for sure (FICO 800).

  53. Fabiola February 21, 2014 at 10:22 pm Reply

    I’m 18 and already applied for a non-secured credit card and I got rejected… are there any credit cards that are for starters.

    Btw, I will be attending high school in september. I want to get those students cards, but it seems like they are only for college students.

  54. Jaime February 21, 2014 at 10:22 pm Reply

    My wife has very poor credit,.. and i’m trying to repair it.

    She has a credit card that has late payments listed on her report.
    is there a way to have the late payments that are reported to the credit bureaus removed?

  55. Nicolas February 21, 2014 at 10:22 pm Reply

    I want to know if anyone has personally applied for a credit card having no credit history at all. i have applied for bank of americas student card and got denied also i applied for discover card and got denied even though it say no credit history required??

  56. Hollie February 21, 2014 at 11:02 pm Reply

    I’ve been trying to find some companies who offer purchase plans and/or financing for individuals with poor credit. I know, this may sound unwise, but allow me to explain.

    When I was much younger I was careless with my credit and I ruined it. I’m working full time and I can afford these types of purchases now but most companies won’t even look at me due to past mistakes.

    I’m hoping somebody may know of such companies who may be able to help. I’m Canadian which makes things a bit more difficult as most programs I can find are for Americans only. Particularly, I’m looking to buy a television and a desktop computer. Many thanks for your help everyone!

  57. Marianne February 21, 2014 at 11:31 pm Reply

    Now my credit is awful because of I have had an aprtment or 2 in the past,and owed the utilities but did not pay them,cell phone bills that are old. But none of my bad credit is with “credit card” companies. I kno how to establish credit but no one will let me. What is the first thing i shold start doing I wanna “boost” my score pay off these bills. So I can stop needing co-signers and I wanna start lookin to buy a house.

  58. Megan February 21, 2014 at 11:31 pm Reply

    Attendance is costing me about $19k a year, just finished my first year… I’m paying it with loans, all of which are deferred.
    I’ve been working two jobs (55+ hrs a week) in hopes of getting a car at the end of the summer, I’ll probably be spending $2-3k on it, I currently have about $1000.
    The car greatly increase the likelihood of me getting a job during next semester (I’ll have to quit my current ones since my college is far away from home).
    Once I have a job I plan on getting an apartment in town with 6-7 friends. We’ve been talking about it for a bit though I’m not sure if it’ll all work out with each of them; worst (or perhaps best?) case scenario it’s just me and my girlfriend.
    An apartment in town means I don’t have to take out a loan for room and board (about $13k a year) and I can keep a job all the time, not working in silly 3 month periods. I can’t stand living in my parents home any longer anyway…
    I’m shooting for total independence.

    ALL THIS CONSIDERED:

    Would be detrimental to me to have a credit card?
    I believe I understand the value of hard earned money and don’t have too much of a spending problem (not that those who do tend to acknowledge it…)
    It’s purpose would be for medical emergencies and financing auto repairs.

    I’m hesitant only because my mother believes it will hurt me no matter how good I am about paying the bill on time.

    I feel that I would have the best chance in applying now since my projected yearly income is higher than it has been and probably will be until next summer

    Advice on ANY aspect of my situation is appreciated, though I like to think my plan is well thought out (don’t we all?). But mostly: should I get a credit card?

  59. Bruna February 22, 2014 at 1:24 am Reply

    does anyone know of real LEGAL way to boost credit score fast, I don’t have revolving debt I can’t pay, just bad history in the past, tried some repair firms but nothing really happened.

  60. Jeanene February 22, 2014 at 2:33 am Reply

    I’m 19 and I have bad credit only because I’ve never had a credit card, I’ve never had a bill under my name or anything so I have a low credit score. I’m going to be looking for an apartment in August and was wondering what I could do to improve my credit score by then. Would it help to get a credit card and only use it for small payments or should I just leave it how it is and explain it to possible landlords?

  61. Joellen February 22, 2014 at 3:07 am Reply

    My credit is horrible and i owe like 3,000 dollars to different places but they all sent me to collections. how should I fix it. where do i go . who do I call? I just need help. I am in the LA area. I am only 20 and going to have a baby and i want to fix it before my due date which is in september. or late augest I need help!!!!!!!!!!! please

  62. Vina February 22, 2014 at 3:07 am Reply

    I had 11 items on my credit. Only 1 of those was in good standing (bad I know). Anyway I pulled my credit report 5 of the bad items I paid all the way off. 3 items are on a payment plan and are due to be paid off in 4 months. The last 2 items are scheduled to be removed due to the 7 year limit in October. My credit score right now is a 550, how long will it take once these items are paid off, for my credit score to be higher?

  63. Alaine February 22, 2014 at 3:08 am Reply

    I’ve always wondered what things or actions effects credit. Obviously late payments and whatnot are bad. but what else? Are there things you can do to repair credit?

  64. Reynaldo February 22, 2014 at 3:55 am Reply

    My request for a new credit card was rejected. When I asked for an explanation a certain telemarketing person said that I was a credit card tart and that is why my request was rejected. What does a credit card tart mean?

  65. Raymond February 22, 2014 at 6:04 am Reply

    What can you do with a credit card?

  66. Lauren March 10, 2014 at 7:58 pm Reply

    i dont know my score but it isnt good, at all! what can i do to start repairing this? i am already paying off debits, i have 3 of 5 paid off, but that alone work, what else should i do? i was thinking of something like a store credit card but i dont think i would be approved for anything like that.

  67. Enda March 10, 2014 at 7:59 pm Reply

    We have a bad standing credit, $15K. We are been recommended to pay it off on our own… which on one income it may take some time, or also been referred to go through a credit repair company. I have heard of when people go through credit repair, often years later the debts re-appear on their credit report… anyone have good decend suggestions? Initial goal, is to purchase a home, that will put us at a lesser mortgage payment than we pay now. Please let me know of you experience, if its either good or bad… need answered!!!!!!!!!!!!! thanks. 🙂
    Alright, I still dont have an answer… negotiating with the companies is impossible…they will not do that!!! So I need a realistic answer!!! ANYONE, seriously?
    Erik, what you are saying is non-sense. Theres no point to that now. Do you have a better solution? I’d like to purchase a home and not wait for the 7 year mark. Question is do you go through a credit agency or do you simple do it yourself?

    Michael how long did it take, and does the debt re-appear back on your credit report within a certain time frame? I heard of ppl who use credit agencies and then within years the debt and creditors re-appear on the credit report…

  68. Bryan March 10, 2014 at 8:01 pm Reply

    Where can I find hotel reward credit cards?

  69. Lanny March 11, 2014 at 2:57 pm Reply

    what is chip credit card? Should I take HDFC BANK titanium edge credit card?

  70. Tonie March 14, 2014 at 11:05 pm Reply

    entering college as a freshman, i have no credit history. so when should i get a credit card?

  71. Candelaria March 14, 2014 at 11:06 pm Reply

    I am looking for a good student credit card to see my through college. Where can I go?

  72. Caron March 21, 2014 at 11:10 am Reply

    I have a collection account for a couple of years. I don’t intend to pay it off. Every month they are reporting it to the credit agency. My questions are –
    1) Since they are reporting it every month does it decrease my credit score every month
    2) Or is it a decrease in the credit score a one time thing like when you declare bankruptcy you start from 400-450
    3) Is it possible to get a new credit card if you are current on other acounts or does one collection account stops you from getting any new credit card
    4) As the collection account becomes old how does that impact the FICO scores

  73. Kiesha April 20, 2014 at 11:53 pm Reply

    When i turned 18 a few years ago many bank companies offered me credit cards and as a naive teenager, i took them. Now as a financially struggling 22 year old in college i’ve decided not to pay back my debt.

    I am very passionate about helping the unfortunate in this world. I believe in all of the philosophies and goals of the peace corps and want to help try to make a difference in this world. When i graduate in a year, ill have a Bachelors of Science degree in Biopsychology and this will make a great contribution to the program.

    So even if i am a great candidate for the peace corps, will my bad credit affect me to the extend that they’ll reject my application? I am planning to join the peace corps in a year and was wondering if this will hurt/exclude me from being accepted? I understand that the peace corp will want me to pay off the debt before i apply but i what if i do not intend on paying back the debt?

    I know that having unpaid debt is a very irresponsible thing but the mistakes were done when i was very young and dumb. I’ve learned from my mistakes and plan to use this experience to better myself. Any information about this issue is very much appreciated. Thanks

  74. Rod April 21, 2014 at 8:49 pm Reply

    i can’t get a credit card to help repair my credit, i can’t get a vechicle….i can’t even get a credit card though a store. what can i do? Help please!!!

  75. Tristan April 21, 2014 at 8:50 pm Reply

    like what kind of credit card /company should i aply for?….explaind diffent type of credit card…like gift card or um…planium card and stardard cards…and is it safe to use it online …plezz hepl me im clueless

  76. Sean April 22, 2014 at 6:46 am Reply

    Im trying to repair my credit. I looked at my credit report the other day and I noticed that the only some companies only reported bad stuff. Like when I missed a payment for a month and some haven’t reported anything at all. THe companies that haven’t reported anything are the ones that have been getting paid on time. Is there a way I can request that these companies report my credit. How would I go about that?

  77. Antonia May 23, 2014 at 7:29 am Reply

    I have 3 open accounts with a good credit standing on them but nobody will give me a personal loan or finance a vechile. I am in a tight spot right now with rent and I also need a car or need to get mine repaired. If anyone has any suggestions please let me know.

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