I have over $20,000 in student loans, medical bills against me, an old phone bill from the time my mom took a phone out in my name and did not pay it. I will be graduating from college soon with a degree in education. What do i do to improve my credit?
2007-11-13 12:06:14 · 4 answers · asked by tigerlily23 3 in Business & Finance ➔ Credit
Simple answer - pay off your debt as soon as you can and do your best not to open new debt (credit cards, loans, etc.).
Your score will be ok if you are making payments on time, but it sounds like your debt to income ratio isn't pretty.
This could prevent you from getting your own home since lenders have gotten more strict in their loaning habits.
Start with paying the old debt, first, and work your way up. I would pay the student loans off last, as long as you are keeping up with the minimum monthly payments. Good luck.
2007-11-13 12:12:21 · answer #1 · answered by Stupid Flanders 7 · 0⤊ 0⤋
clear the stray bills. and then make payments on your tuition other then that you shouldnt be so bad. Just clear those stray bills before they get collection agency on your tush. Good credit is major important to a good life. Not many people know this but everyone judges you by your credit when you are in the big world. try paying for a car monthly with a 15 % interest rate or a morgage at the same rate with a credit score of 456 not possible unless you are rich. Be careful and have a good life.
2007-11-13 13:10:04 · answer #2 · answered by skulls 2 · 0⤊ 0⤋
To improve your credit, start paying off your loans. Call the creditors and tell them you want to repay but you need to work out a payment schedule.
2007-11-13 12:11:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
1. Get a job
2. Pay off the bills
I recommend you read Dave Ramsey's book The Total Money Makeover. It has a plan called the "snowball" to help you get rid of debt. www.daveramsey.com Good Luck
2007-11-13 12:13:02 · answer #4 · answered by snvffy 7 · 1⤊ 0⤋