Besides disputing incorrect entries on my credit score, what can I do to improve my credit? Due to a?

Question

bankruptcy filed in 2004 I am not able to get a credit card and pay off the balance each month. Any other suggestions?

The thing is that I don't want to have to wait until 2011 to try to purchase a home. I have heard of people buying a home even with a bankruptcy on file, but I want to make sure that anything else that is negative on my credit can be removed or satisfied as a "paid" debt, if in fact that will help me to improve my score.

Answer 1

Lots of good suggestions on this website

http://articles.moneycentral.msn.com/Banking/BankruptcyGuide/BounceBackFastAfterBankruptcy.aspx

Also, go to www.orchardbank.com and apply for a low line of credit mastercard. We got a credit card from them with a $300 limit even while in bankruptcy. We had to pay a $59 application fee but that was it. We never put more than $75 on it and paid it in full, on time every month. Within 6 months we had 4 credit cards ranging from $300 credit line to $3000. We rarely use them and what we use we pay in full, on time every month. When we entered bankruptcy almost three years ago our credit score was a dismal 420. Now it a respectable 635 and going up all the time.

We have talked to several mortgage brokers and can get a mortgage now if we wanted one but we are waiting until we save up a bigger down payment so we don't have to mortgage so much and our house payment is smaller. (A mistake we made in the past was to be over mortgaged.)

You can repair your credit but it takes time and discipline. The key is to never use more than 1/3 of your credit line and to pay it in full, on time, every month.

Good Luck

Answer 2

Bankruptcies can stay on for 10 years, so you may have to wait until 2014, not just 2011.

Answer 3

The biggest thing hampering your credit is likely that bankruptcy. You’ll have to sit back and wait until 2011 for that to drop off.

Answer 4

get a secured card, it will only help your credit a little bit but when your bankruptcy falls off your credit it will be easier to get a regular card because of the secured cards history

Answer 5

regrettably, in spite of what all and sundry says the respond isn't any. there is no longer something you're able to do to get your credit raised at present in case you have a default word. that's a derogatory action and it will proceed to be a blemish on your credit till (a million) you are able to coach the corporation is at blunders and that they are prepared to no longer in basic terms ultimate their mistake, yet checklist the correction to the credit bureau (2) you are able to coach the corporation is at blunders and that they are prepared to ultimate the blunders and you bypass for the duration of the tedious technique of submitting a correction with the three important credit bureaus. regrettably without the corporation possessing as much as their mistake you're at fault and the blemish will proceed to be on your checklist for as much as 5 years. yet you're able to do another issues to develop you credit with the default which comprise paying on time, lowering your earnings to debt ratio, lowering the style of inquiries on your credit, paying off playing cards with severe stability and paying costs whilst they arrive quite than whilst they are due. those issues can take particularly some time and as long because of fact the derogatory action is stated on your credit checklist you will no longer have the skill to bypass previous a definite credit threshold.

Answer 6

get a prepaid credit card.

I have friends who have done it and has helped them.

Answer 7

Pay EVERYTHING on time