How do you fix your credit aside from waiting 7 years?

Answer 1

Ok follow these instructions to the "T" this will restore credit nicely. this information comes to you as a free no obligated gift from me as I was in the same predicament.
I presume that you have endured the bankruptcy 7 year not credit allowed. sometimes that wait can be up to 10 years if you just stand by and do nothing about expediting the process.

1) sell an item or two, your goal is to come up with at least $600.00. or the more the better(fees &other).
2) go to a bank(one that you have not done any prior business with and a national bank if possible.
3) be sure you have all the criteria a bank needs to set up an account IE: ssn, id, at least a part-time job. birth cert?
4) deposit 500.00 into a savings acount.
5) then have that $500.. as secuity because you will be taking out a personnal loan with in the amount of 500.00. You will not need a co-signsor(or at least i did't) as the money you just deposited is their security. their will be a hold by the bank on these funds.
6) with the $500.00 you recieved as a loan. wait a few days and then go to another bank and use the same instructions. and if they ask if you have other accounts you can now say yes.
Do the above with at least three banks,each time you do this you will have in each bank $500.00. along with that you will be lugging this 500.00 around.
7) ok now you have established 3 accounts. Please read the following importantly:
hang unto the $500.00 and make the minimum monthly payment on each(recommended), this is ok as the goal here is to regain your credability here . keep track of all transactions.
8) when your obligations have been fulfilled you now have credit along with $500.00 in each account.$1500.00!
9) be sure to keep up on all those watchdog master credit rating burous.
10) And their you go..You now have 3 lines of credit. i have helped
other people out with the same succsess. be digilant and do not get back into the predicament that got you here in the first place.
Your welcome [e-mail]

Answer 2

This is what a financial advisor told me; Make sure you make your payments early even if by a day or so- it'll just reflect as paying early to the credit bureau. Yes do pay off accounts but do not close all of them you need to have a limited amount of revolving accounts that show some activity each month. For example keep a credit card and pay for a grocery bill or two each month....make sure you put the money aside and pay it off each time the bill comes in. Also go to annualcreditreport.com under federal law you are entitled a free credit report from each bureau every 12mos.

Answer 3

In my opinion, often, bankruptcy is a good start. While the bankruptcy will be reported to credit bureaus, you can find credit and pay them back in a timely manner. Secured credit lines work.

You do need to be careful of predatory lenders as they know how limited your options will be.

Also, be aware of how the laws define that seven years. In my opinion, it is seven years from the last activity. Does that mean that after six years if the original creditor sells the debt (an activity) it can be on the credit report another seven years? This is is why bankruptcy is often a better choice.

This an attorney can help you with.

Answer 4

Jorge is right... DO NOT pay off your cards then close them all. You need LONG periods of good credit. It proves your credit worthiness! It's always a great idea to keep a super low balance on your cards... use them just pay a majority of them off each month. If you want to improve your score, here's a great program: ScoreMax! http://www.communityempower.com/CFIC/
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Answer 5

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Answer 6

The best way to fix your credit (in addition to paying your bills on time and in full) is to get your credit report for free from the FTC's recomended website:
http://www.annualcreditreport.com/

the FTC also has many tips on improving credit on their site: http://www.ftc.gov/bcp/conline/edcams/credit/index.html

Once you have your report and you have verified that everything is correct on it (you can contest incorrect items and have them removed from your credit entirely) you should contact the creditors listed and set up affordable payment plans to pay off the debts listed.

This is the technique that I have been using and it has worked very well - my credit "score" has gone up more than 100 points in the last 2 years.

Answer 7

You can make payments to the debts that are listed on your credit report.

Answer 8

pay your bills and cancel your credit cards.

Answer 9

Pay your bills. On time. or completely off.

Answer 10

pay your bills on time!!!