I have really bad credit- not credit card related. Does credit counseling work or what can I do to fix it?

Question

I am having trouble renting an apartment, I am going to need to buy a car and I would like to eventually own a house.

Answer 1

like everyone has told me, get your credit reports, all 3 of them, and start making calls to pay on your credit to start fixing it and to bring your score up, so it will be possible to get the things you want after its all fixed

Answer 2

Credit counselors don't "fix" your credit. They set up payment plans with your creditors to reduce interest and fees / consolidate. So if you have $20K in credit cards at 20% interest they might reduce that in half or nothing at all. It's in the banks best interest to negotiate because at least they get some money rather than you default. The problem is too many people until all their cards are charged off and THEN they try to get help. It's too late at that point. Your credit is already hurt.

You'll be able to buy a house, car, and anything else you want but it will take TIME. As in love, time heals all wounds. Seven years to be exact. (that's how long the bad marks stay on your credit, 10 for bankruptcy).

Find a trusting coborrower to get your apartment. Have them cosign for a car loan and rebuild your credit. Don't get yourself in too much debt. Just because someone gives you a little rope it doesn't mean you should tie it around your neck and hang yourself.

Answer 3

Most credit couseling/debt repair companies will charge you a fee up front and trash your credit. You can fix your credit yourself.

You should start by paying all your current bills on time. Negotiate settlement with the bad debt one at a time till you get them all paid.

But you really need to set up a budget and save money for a downpayment. You're going to need several years of consistent on time payment history to get any kind of loan for a house.

Answer 4

Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender

Answer 5

Well, I don't really know if credit counselors work. I suppose if you owe money now and they have the ability to contact these people and get a payment plan underway, that could help you. But more important, or as important, is that you change your behavior as it relates to money. It's serious business, as you know now, and buying things is not to be taken lightly, esp. expensive things. You have to get your life in an orderly mode, get out of spending mode, and into paying and saving mode. Rent a room as cheap as you can find, pay off these bills, and get things in order.

Answer 6

Make arrangements with your creditors to pay off all your outstanding debt. Get a payment plan that you can afford. Cut out all unnecessary expenses in your life and work as many hours as you can tolerate. Once your bills are paid off, never charge more than you can pay off each month. Good luck.

Answer 7

You can do it yourself.... you just need the tools.
http://www.thecreditrepairmanual.com