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how to improve my credit

Anonymous
Posted by Anonymous
  • 12 Replies

just went online and my credit score is 576 um ouch! i have 5! bad marks on my credit from years and years ago when i was just stupid and didnt think it would matter later :(

Im not sure how to go about repairing it... should i call the debtors and settle the debt? let it fall off (2 are marked as coming off in 2013) do some sort of debt consolidation? I think in total its less than 5,000 but we are wanting to buy a home and this is not going to make that any better!

Posted by Anonymous on Dec. 18, 2012 at 1:52 PM
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Replies (1-10):
Anonymous
by Anonymous 1 - Original Poster on Dec. 18, 2012 at 3:00 PM

bump

Anonymous
by Anonymous 2 on Dec. 18, 2012 at 3:01 PM

 Marry a rich guy.

Anonymous
by Anonymous 1 - Original Poster on Dec. 18, 2012 at 3:03 PM

 girl ive been trying to do that for years!

Anonymous
by Anonymous 3 on Dec. 18, 2012 at 3:04 PM

Anytime you go out and pay a debtor that is affecting your credit, it just bumps it right back up to the top of the list. I would let all of the negative marks just fall off over time and rebuild your credit slowly.

mem82
by Platinum Member on Dec. 18, 2012 at 3:06 PM

Let the two that are going to fall off, go. Then if you can pay one of them off in a chuck, do so. The moment you pay anything on the late bill, it resets the 7 years it will take to come off your credit. So trying to pay a few bucks for 3 years will mean it will take 10 years to come off your credit.  That's what an article I just read, told me.

areles
by on Dec. 18, 2012 at 3:06 PM
let the old ones fall off. if you have collections, ensure there are no dupes (if there are, dispute). get an amex green, if you can, and use it for normal expenses and pay it off each month.

debt consolidation is usually useless at best, a scam at worst. time is what you need.

don't settle anything for less than the balance owed; that hits your credit HARD.

if you have other debts within a year or two of falling off, let them go.

try to negotiate with your creditors deals where if you pay off, they DELETE the record (not merely update as paid).

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Shani527
by Platinum Member on Dec. 18, 2012 at 3:07 PM
im not sure. i was able to dispute two of them, but the others are still on there. ive got about tge same score, same reasons lol. its tough bc im not approvable for anything, even though now im not young and stupid and doing better finacially.
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armstrong7984
by on Dec. 18, 2012 at 3:13 PM

I used to have horrible credit back from when i was 18 and hospital bills from a car accident got put into collections and my father told me to ignore them..ya mistake. But years later xdh and I trying to by a house we had a finanicial advisor for mortgage loans take us under his wing and taught us alot.

1. Dont close any credit cards after you pay them off.

2. Dont touch your collections if they are very old, when you do this it reopens it and puts it back on the top of your credit report

3.Dont apply for any type of credit more than 1x a year

4. debt to income ratio is huge, so if you have a 3k limit, pay it down or keep it down to at least 1k or less.

5. Pay more than the minimum payment on your credit cards

6. and if you dont have credit cards at least get one, because revolving credit is very important and the longer you have it the better your credit gets.- I just hit the 8 year mark on my credit card and I was able to get approved for more than i have in the past...remember history is very important.

GOOD LUCK!

 

My3beautys
by on Dec. 18, 2012 at 3:17 PM
Pay off your biggest bill first, then work on the smaller ones, most debt consolidation company's require you to have a larger anoint of debt then 5000 to take you as a client
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Anonymous
by Anonymous 4 on Dec. 18, 2012 at 3:20 PM

I was shocked my credit score is nearly 800.  I had collections and debt and such but ended up consolidating everything, paying everything off, it was 600 something before.  it takes time, but you can do it!

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