I would like to rebuild my credit, it is very bad, but I am paying off all my bills, and will be debt clear soon.
How do I go about rebuilding the credit that i messed up?
I was given huge credit when i was young, I had good intentions of paying them off, but I found myself in a situation that I had no control over, my dad got sick with cancer, and so I had to leave my job and stop payments on my credit cards, and now 8 yrs later I am still up to my ears in debt. So now I need to get credit to build my life.
Any suggestions on how to start?
credit cards? or loans? or what or how do i go about doing it?
thank you in advance
2007-03-27 12:43:32 · 7 answers · asked by Dawn C 5 in Business & Finance ➔ Credit
Keep paying your debt off and forget about credit cards and trying to get loans because they will just get you into more trouble. Live on what you earn and don't get buried with these blood thirsty loan companies and high interest thieves.
2007-03-27 13:04:30 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You can start with a secured credit card. You put some cash on deposit with a bank and they issue a credit card with a limit equal to the amount on deposit. Your timely payments will be reported to the credit bureaus and there is no problem to qualify.
Once you are established that way, department store and oil company cards are easy to qualify for.
2007-03-27 19:50:47 · answer #2 · answered by Aldo the Apache 6 · 0⤊ 0⤋
You mentioned that you were paying off items on your credit, get reciepts for them and as soon as you get them send a dispute to get them cleared off or showing paid on your report. The creditor will take their time with doing that.
Also get a secured cc. Those really help with your credit score. When you use it, if you can max it out (maybe pay rent or a monthly big bill) and pay ALL of it by the due date! If you can't max it use it but make sure to pay it all off by the due date.
Months of this will definately help you.
2007-04-04 11:13:51 · answer #3 · answered by nuttybuddy 2 · 0⤊ 0⤋
I would try to get 2 credit cards, either secured or unsecured to build a fresh credit history. Just keep your balances under 50% of your total credit lines (balances under 50% increases your credit rating) and make on time monthly payments.
2007-03-27 21:08:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I am hoping you atleast have an account at a bank(thats what the banks call a relationship-you need to work on that relationship)if you dont , go to a bank and talk to some one about your credit and some creative suggestions on how to get your credit back,the banks are there for you , a good bank will give you ideas on how to get back on the right track-a good bank will help you!!!!
2007-03-27 20:19:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i suggest that you get all those negative items on your report and I can help you with that. That's the first thing you need to do is join in our program I can explain everything by phone give me a call.866-625-0444 ext 238 is tool free.thanks
The next thing you need to do is pay all your bill on time and last get a credit card and start billing your credit.
2007-04-02 15:07:08 · answer #6 · answered by christopher s 1 · 0⤊ 0⤋
I would recommend a book by Dave Ramsey called "The Total Money Makeover." He has a website as well. He has some practical ideas to repairing your credit and keeping out of debt.
I wish you well
2007-04-03 10:11:35 · answer #7 · answered by mjohnson1422 3 · 0⤊ 0⤋