Has anyone ever had really bad credit and now its good or excellent?

Question

If so tell me your story, so I can hopefully learn from it thanks

Answer 1

I never had a credit card until I went to purchase a car a few years back, that's when the dealer told me "not enough revolving accounts" was a negative! I was shocked...how can not having a cc work against you? Well it does according to Fair Isaac, who came up with the credit scoring system. This led to me learning all I could about credit, the FCRA and the FDCPA. I opened a credit card, got a mortgage, and eventually....and I mean eventually, it takes a long time...improved my credit.

If you're worried about your credit, don't be. You really only need it to buy a house and car, once you have that, what do you need it for? And anyone can get a house or car, even with mediocre credit.

Answer 2

I had a 580-something with 4 collection accounts on my report from my college days. I called all 4 creditors, paid off the collection accounts in full, then took out a secured credit card to build up some credit. After one year my score was up to a 660 and I was able to purchase my first house. My score is now in the 700's and I plan on keeping it that way.

Answer 3

There are lots of ways to accomplish what you want but only 1 best way. If you have lots of time and persistence, you can take a stab at it yourself. I believe, however, that your credit is at least on the same level of importance as taxes (which most people have professionally completed). I know of a non-profit company that does all the leg work for you and hopes to improve your score 90 points in 90 days. Check out the credit repair link at www.totaldebtsolutionsllc.com

Answer 4

It depends on how you define 'really bad'. When I moved about 10 years ago, my debt was a problem. The job I moved for didn't work out and it got worse.

I contacted all of my creditors, explained my situation and took advantage of whatever assistance programs they had. I got another job & started paying off my debt. I always kept in contact with my creditors and dealt with the problem openly.

Eventually, the debts were payed or brought back to a managed level that put me back in good standing. Now, I'm in pretty good standing and am current on everything.

You really just need to face the problem upfront, develop a workable plan and stick to it.

Answer 5

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 6

If you want to rebuild your credit then you have to start making your payments on time and keep them current. You will slowly rebuild your credit. Remember your credit score is based in part on your ability to repay what you have borrowed in a timely manner.