I am trying to increase my credit score because I want to buy a house my credit score is poor?

Question

I am currently renting and the lease is up in september. I had a period where I did not work last year because I was being treated for brease cancer, so I did not receive a paycheck. Also, I was buying a house in 2000, but FHA is currently investgating to charge the contractor with fraud, the house is condemned. I filed bankruptcy, but the case was dismissed because of the case, but it is on my credit report. I also had my car taken because of no income last year. Help me please.

Answer 1

You have a chance to improve your credit rating and therefore brighten up your financial future by being patient, a conscious effort, and a personal debt repayment to improve your credit report. The most practical and effective way to truly improve credit is through a number of practical steps designed to help you not only improve your credit rating but also to maintain a decent credit rating once it has improved. No matter how bad your credit is, taking following steps will make it better.

STEP 1: Dispute Inaccurate Information or Frauds in Your Credit Report
STEP 2: Pay all of your bills on time
STEP 3: Reduce the number of credit cards you carry
STEP 4: Avoid bankruptcies, tax liens and collections
STEP 5: Request for Lower Credit Limits
STEP 6: Get a Small Loan or Credit Card with Co-Signer
STEP 7: Get a Secured Credit Card
STEP 8: Periodically Get a Copy of Your Credit Report

Find complete explanation for each step at:
http://www.howtoestablishgoodcredit.com/Credit_Articles/index.php

Answer 2

First off, I hope you are doing well with your health.

I want to assume you have some sort of regular income now, since you are renting a place. Given the facts, it sounds like you are not in the financial position to take on more debt right now with a house. You also need to consider the additional costs a house brings with it...taxes, insurance, maintenance & repair, etc. If you had your car repossessed, chances are you still have an unsettled balance on that - that will still need to be paid off, regardless of whether you have the car or not. Since your lease does not end until September, it does give you plenty of time to find a new place or negotiate with your landlord on an extension (maybe month-to-month).
There are many options out there for homebuyers to get a loan and you will probably be charged a higher interest rate & have additional costs (which can be added to your mortgage loan), but will you be able to handle that debt down the line, especially if your health should start to take a turn in the wrong way.

Answer 3

I truly hope you are doing well now. I had an aunt whom we lost to breast cancer. It is not pretty.

You may want to consider credit restoration. It is about the only way that you are going to improve your credit score in that short period of time. Here is the drawback to doing so with your personal situation. If you don't have any GOOD lines of credit, then you need to work with a company who will actively work to add unsecurred lines of credit to your report (such as insurance payments and such) to boost your score and to give you MORE credit history.

Please, do your due dilligence when it comes to credit restoration. There are so many people out there who have fallen victim to people who THINK they can do credit restoration because they have read this alleged "bible" or bought a do-it-yourself kit online. Find a professional credit restoration firm that has a good report with the BBB (here is one example: http://www.thebbb.org/commonreport.html?bid=39000730 ) and has few complaints against it. For instance, this company: http://www.saltlakecity.bbb.org/commonreport.html?bid=2000829 ) has a satisfactory record, does about the same volume of business as the first example, but they have 275 complaints against them. One has to wonder about a company's business practices when their customers have to resort to complaining to the BBB before they can get resolution on their complaints.

I am not suggestiong they don't do what they claim to be able to do, I am just calling their customer service into question. If it were me, I would seriously look at the other company.

It is ironic, isn't it, that the BBB was started by Al Capone!

If you have any other questions regarding your credit issues, you may email me at [e-mail]

Answer 4

establishing too many bills too promptly is likewise a pink flag to credit companies. Even too many inquiries can decrease your score. Debt to earnings ratio has replaced. in case you basically bought fixtures, i'm making a guess that one is rather lots maxed out. undesirable on your credit. appears like the different one is rather lots maxed too. additionally undesirable on your credit. you apart from mght took effectual once you paid off that pc with the aid of remaining that credit account. All that being stated 40 factors is huge even nonetheless that is no longer extensive. If he rather had solid credit earlier, he could nevertheless be interior the gorgeous solid variety. 740 all the way down to seven hundred isn't undesirable. on the different hand, if he became a 620 and you thought that became doing rather solid, regrettably, you have been incorrect. you're spectacular if he went from 620 to 580 he went from no longer large to undesirable credit report. i desire that is rather not the case. If he's below six hundred it rather is going to be difficult to get loans and the loans you do get would be severe interest. only initiate paying off those enjoying cards and not establishing new bills to construct it returned up.

Answer 5

Credit repair does not require the assistance of a service. You can take a number of steps to help repair your own credit.

Although there are numerous credit repair companies offering their services for a fee, savvy individuals can do their own credit repair with a few simple steps. The advertisements placed by credit repair services touting their experience, qualified personnel and other qualifications can make the process seem daunting but it is really quite simple.

The basic steps for do-it-yourself credit repair include:

Request a credit report from all of the three credit reporting agencies
Carefully review all of the information on the credit reports
Dispute any mistakes on your credit report and document every step of the dispute process
Devise a debt reduction strategy
Establish good credit strategies now and carry them into the future
The first step of do-it-yourself credit repair is to request a copy of your credit report from Equifax, Experian and Trans Union. These are the three major credit reporting agencies and individuals are entitled to one free credit report annually from each of these agencies. Requesting a report from each of the three agencies is important especially if you believe there may be a mistake on one of the reports. The information on all three reports will be similar but mistakes may only appear on one of the records.

Once the credit reports are acquired it is time to review all of the information carefully. Each item on the report should be examined and discrepancies should be noted. In reviewing this information, highlight anything that seems suspect and review your documentation to verify the validity of the item.

After compiling a list of mistakes, it is time to officially dispute any inaccuracies on the credit report. The dispute processes will most likely involve filling out a dispute form or writing a letter detailing the alleged mistake. In both cases documentation supporting the validity of the dispute will be required. For specific information on how to officially file a dispute, contact the credit reporting agency directly. Once the dispute process begins, document every aspect of the process. This is important because dispute resolution is a time sensitive process with specific guidelines for how quickly a dispute must be resolved. The agency may be required to remove a disputed item from a credit report if they do not respond in a timely fashion.

When a negative credit report is a result of a poor credit history and not mistakes, only time will properly repair the credit. The long term credit repair strategy for financial errors in judgment includes devising a debt reduction strategy which will demonstrate diligence and establishing sound credit strategies which will be viewed favorably in the future. Credit reporting agencies do not hold grudges. Credit lapses are removed from credit reports after set periods of time and a history of good credit is rewarded with a solid credit score.

Answer 6

We can repair your credit and give you a loan for a house. Contact me if you're interested.