I need help sorting out my credit...?

Question

I'm 19 years old, and I'm trying to get financing for a car (among other things), but I'm having a problem with my credit. It's a 588, there's a cable bill on there from my stepdad that was opened when I was 11 that my parents never paid. So, it's hurting me now. I've been told to contact the credit agencies, but I don't want to get my mom into any trouble, she was the one who called and opened the account. The only other things on there are cell phones, one of which was default (because I opened it at 16 and never paid it until about a year ago, irresponsible kids, eh?) and one of which is current and paid.

I really don't make a lot, and my mom needs a lot of financial help with her house in forclosure, so a secured card at $200 plus other fees isn't something I can just shell out. But, I need a car, and an apartment once my mom moves, and a credit card would be nice for college books and such. Anyone have any suggestions, or know any card companies that might issue me a card?

Aside from a lot of praying and a secured card... Any banks that might issue a regular card, or banks who offer really good help with financing? I know a credit card can really mess you up, but despite my 16-year-old idiot self, I'm fairly good at handling money. Growing up poor does that, I think ^__^.

Anyway, thank you all in advance. I really need to get this taken care of, it's really starting to hit me hard, all the things I'm not able to do.

A co-signer isn't an option for anything, my dad is in prison, my mom makes next to nothing and has a score lower than 500... and that's all the family I have besides younger siblings.

To add on something that was asked, I'm not currently in college, I haven't been able to afford taking the time off work. I'm working two jobs, one full time, one part, so I make enough combined with my boyfriend's salary to afford both. He can't co-sign, he's not in default but he doesn't have a credit score whatsoever.

Answer 1

Ok, here goes:
1. Pay off anything that you owe that is outstanding.
2. If you did not setup the cable, challenge it with the credit bureau. This should not create an issue for your mom. If she opened it with your SSN, then you either need to just pay it and forgive her for identity theft or protect yourself.
Good luck

Answer 2

Citibank gives credit cards out like candy, so does Capital One.

I don't understand, did they put the cable in your name? You were 11, you can't sign the contract because a minor can't enter into a contract. If they somehow put the cable in your name, you should write the cable company and comcast and protest it being on your credit record.

It sounds like your mom should just sell the house before the bank seases it and you two share an apartment for a while. I don't see how on a college students income, you will be able to afford a car and an apartment. My ex was only able to afford one, I can only afford one and I make 10.50 an hour.

You should probably give up on the car for now, with your credit score, the interest rate they will charge you will be through the roof, probably around 18%-22%. The collection will be on your record for 7-10 years.

Unfortunately, you need to get that cable collection off your record.

All that said, if you are able to get a card and keep it in good standing, it will help alot.

Answer 3

First you should contact the credit companies and let them know about the situation with the cable bill as well as the phone bill. With a credit score of 588 you should be able to finance a car you will probably have to make a down payment and pay more in interest. You should be able to get a student credit card as long as you are enrolled in college. They usually have a limit between $300-1000.