i have a really bad credit history, what can i do?

Question

i get refused for everything,i work now and can pay it back but they dont want to give me anything. does anyone know where i can go. i mean i get refused for everything.

Answer 1

I'm not only going to answer this one, but I'm going to address a couple of sarcastic comments that this person received.

First off, not everyone gets into a "bad credit" situation due to poor money management or "spending too much". I, personally had wonderful credit at one time for a great many years. We owned cars that we bought on credit, houses etc. We had a few credit cards ( I didn't want more than 3 so I didn't get more than three, but not because I wasn't offered them)

But you don't know what people go through unexpectedly that can turn your whole world upside down in a short amount of time. My husband was in what he thought was his "lifer" job working for New England Power at a Hydro-electric dam. I was a stay at home Mom who homeschooled my three children. He made excellent money and I didn't need to work. We had a great benefit program and all was wonderful. We owned our farmhouse in rural New Hampshire and we owned two vehicles as well.

In a period of three short months, the rug was pulled out from under us. They automated the dam and my husband and 9 other people with no warning were walked out the gate jobless.

Combine this with the fact that he cut his hand open severing a tendon which receded up his arm a few days later while opening a dented can and we had total chaos going on. He had to have 8 surgeries to repair his hand. It still isn't right. He can't bend his middle finger. (Makes for some uncomfortable moments when his other fingers are flexed!! i.e. arm out the window riding along with his middle finger up!) But needless to say, this left us with a boatload of medical bills that we had no means to pay.

We moved to FL to be close to our family since he was out of a job at the time and had to start over. He spent three years trying to find a decent job which was not easy given his age at the time (early 40's) He spent that time doing anything he could to keep food on the table and roof over our heads. He worked as a hotel night clerk, a line cook, he dug ditches for a sprinkler company etc. During that time, our credit went from perfect to the gutter.

He finally got back up on top, but we still haven't completely fixed our credit. It's a long slow process and it's taking time. Had you told me back then that this could've happened to us, I would've said you were crazy. It can happen to anyone and it does every single day.

Don't be so quick to judge something you don't know about. Walk a mile in the other guys shoes gang. Not everyone with bad credit is lowlife or a deadbeat. Lots of people from all walks of life have simply been dealt a nasty hand that destroyed their comfortable world. It's embarrassing and it leaves you feeling so defeated and overwhelmed.

Now as to the question: Due to the fact that the government passed a law stating every American is entitled to one free credit report from the 3 bureaus per year at no charge, all of us can go to annualcreditreport.com and request your report from each of the bureaus. This part is free, no strings attached. If you also wanted your Fico credit score, that, they charge for (I think one bureau is cheaper and charges $5.95) but the reports themselves are free and you print them right out on your computer. Once you do this, you'll have a clearer picture of what others are seeing when they check your credit.

Also, as was already mentioned, don't keep applying for things (credit cards, apt. rentals, car loans etc.) if you really feel you'll be turned down. All those peeks at your credit report by the lenders are leaving you with "bad marks" on your report.

Personally, I don't recommend paying off collection debts that have already been written off, because they don't end up removing them anyway, however I agree that it's key to get yourself into a point of paying EVERYTHING current on time. That's your rent, your utilities everything. Now I'm planning to get one credit card, a secured credit card to attempt to re-establish credit. I'm only putting $200 in it and using it for gas. Each month, I'll pay that bill faithfully in full. I've been told that they report to the credit bureaus monthly and that after 6-8 months, they may offer you full credit over and above your security deposit. This is your stepping stone to regaining your credit. Of course if you are able to get someone to give you a car loan or a credit card without security, that's even better to establish credit, but it's key to pay it off on time faithfully.

Hope I was of some help to you and anyone else in this position. The worst part is not getting good advice or being condemned and put down because you're in this situation. Good luck!

Answer 2

Yea, just get a free copy of your credit report, Since you've been refused for something you are allowed to get 1 free credit report per year from each of the major agencies (Experian, Transunion, Equifax). Just call them or go to their website. Then look at them and pay off each item or call the collection agencies and work out a payment plan and pay them off starting with the most recent. Normally if the debts are more than a couple years old, you can negotiate and pay 50% of the debt. Also if you wanna raise your credit score, get a secured credit card from ur bank. you won't get turned down b/c it's your money. So theyre not taking a chance on you. Use the card for small things and pay it immediately. Go to the Fannie Mae website, they have a brochure on Understanding your Credit. Good Luck!!

Answer 3

you need to know if you just have a low score or if you have adverse credit. a score can be fix just by now aplying for anything for a wile and making payments on time, if you do not have any credit then try ether geting a credit card were you give then a deposit. and then use the card for your shoping each month and pay the bill in full. or if you are in england and have not yet got a capital one card the tend to be good at giveing it to low scoing ppl, it would be a low limit to start but that should go up in six months if you pay your bills.
if you have adverse credit then you are going to have problems getting credt for about six yeas, you need to know if this is what is coseing it as apply for credit when you have adverse credit will keep saying no and bring your score down so when the six years are up again you will not be able to get credit the best thing you can do when you hae adverse credit is oe find out who you did not pay and if you can pay them and do not apply for credit untill the adverse marker is gone.

Answer 4

You will have to pay down the debt and watch your credit score rise. It won't take long (maybe 2 years) for your credit to rise.

The lending institutions are looking at not only your past, but the amount of debt/available credit ratio. If you are using over 50% of the available credit (meaning that you have over 50% unpaid still), then they won't loan you money.

Just keep paying the bills on time and things will even out very well. If you can afford the bills, then you don't need to borrow money. If it's something you want, you will have to just save for it.

Don't keep asking for credit because it goes on your credit report when you apply for credit and if you have more than 3 applications, it looks like you are living above your means and they won't give you money.

Answer 5

You have become a very poor risk. Many places won't employ someone with a poor credit history; it's indicative of poor ethics.
Pay off the creditors you have. Call them to strike a deal.
Do not buy anything on credit, if you can't pay cash, you CAN NOT afford it.
Do without the luxuries & pay off your creditors at at faster rate and then save that money in a savings account. That account can be used as collateral on a "pay as you go" credit card attached to that savings. That will afford you to rebuild your credit.

Answer 6

Same boat bro. Capital One might give you a credit card. BUT do not go to those companies that promise to fix your credit rating for a fee. They do not do anything that you cannot do yourself. Also, ask for a copy of your credit report (which you can get for a couple of quid or something) and you will be able to see what is on there that you can fix or appeal to be removed. And see the Citizen's Advice Bureau. Good luck cos I think this is bloody unfair.

Answer 7

Stop borrowing money! I don't mean to sound harsh, but you have bad credit because you don't handle money well. You need to learn how to manage your money first.

Stop trying to get more credit. Credit has gotten you into trouble and it's going to take time to clean up the mess.

Get on a written monthly budget and pay cash in areas where you typically overspend (i.e. dining out, groceries, clothing, etc.).

Sell stuff, get a part-time job to get extra cash to pay down your debt. You'll be amazed at how much debt you can pay off quickly if you get focused.

Once you learn how to manage your money, you won't need to borrow money ever again. You'll be able to save your money and pay cash for things you want/need. It is possible.

I'm debt free other than my home and have zero credit cards. i have no intention of borrowing money again.

Contact me directly if you need help. I've helped many families/individuals get out of debt. I'd like to help you if you're ready.

Scott.....

Answer 8

babe you need to get a copy of your credit report and then make sure all debts are satisfied on it ..ccjs will last 6 years after you pay them .....you need to build up your score again try to go to capital or monument and get a credit card with just 200 limit and every month without fail spend twenty pounds on it and pay it back in full ...do this for six months this will help build your credit rating ...do not pay bills late as this also goes on your credit score ..and rember there are two big companies that hold credit report ....one is EXPERIAN go to there web site and order your credit rating through post £2 ...p.s do not go to anyone who says they will repair your credit rating as this shows up on your report and every time you apply for credit this shows up it is called a footprint ,,,too many footprints can also take your rating down...

Answer 9

First of all, get your credit report. Start paying them back. Make sure you fully settled before you apply for any credit loans, credit cards...etc. Wait for 1 year before applying.

Some credit company only asked for last 12 months report. Get recommendation letters from your company or referrals.

Answer 10

Try getting a credit card through a clothing store or sporting goods store. Charge a little bit (DON'T GO HOG WILD) on it and then pay it off right away.

Answer 11

well you can get credit card that give you a limit that you put up front and that will slowly help your credit or you can start making big purchases like buying a car for 15 grand with a co-signer and paying for it and paying it fast (2 years) and doing it alot that will help your Credit alot and rebuild it fast at leat i think so, but that procees will be slow wich sucks. its easy to mess it up but a Bi#@h to bring it back up