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I have terrible credit. I made a lot of mistakes in my past. My credit score is like a 547 according to my experian report. Most of my accounts are old charge offs. I've seen several websites that say they can help, but I'm scared. What the heck can I do? I'm moving away in October of this year, and I can't even get an apartment!
JP

Posted: Mon May 16, 2005 12:41 pm Subject:

Hi mrdigitalmedia

Welcome to the board. Please don't get tensed regarding your credit. I am sure everything will be alright very soon. You have not mentioned where you are moving in the month of October. Are you flying abroad? There are different laws for different states and there is nothing much to worry about it.

Have you thought about consolidating your debts? Debt consolidation will be the perfect move to pay off your debts. There are many benefits associated with it which you can have a look at http://www.debtconsolidationcare.com/benefits.html

It will be a good move to start making payments towards your debts rather than lingering it for long as it is adding with interest and late charges etc.

Hoping to hear from you soon

Thanks
Roxette

Posted: Sat May 28, 2005 2:32 pm Subject:

What state are you from?? How old is the collections and charge offs??? Last activity date is needed.

Need to check if these accounts are still within the Statute of Limitations. If it is past SOL, then you can dispute with the credit reporting agency, and send the creditor a full cease and desist letter, since the debt is time barred.

If you are still within the SOL, then you want to consider what you can pay, and send debt validation request to them creditors. If they can't validate then they must remove from credit report. If they can, then you would make payment arrangements with them.

Negotiate payment for deletion, that is the best outcome for the credit report, to get as much of the negative information off of the credit report as you can... especially any derogitory utility or collection or judgments for landlords.

Dont worry · Posted: Thu Jul 14, 2005 2:35 pm Subject: Keep your head up!!

Your life is not ruined!! I am 27 and in the same boat as you, probably even a different one. You can find a place to live, they may just require a higher deposit than normal.
Heck, i was able to get financing for a new car with a credit score of 560. I wont tell you the rate i got though, haha.
I have made my share of mistakes. All you can do is learn from them and move forward in a positive direction. Good luck and keep your head up

Posted: Thu Jul 14, 2005 4:14 pm Subject:

Hi Dont worry

Welcome to the forums. Hope that you might have learnt a lot from your share of mistakes. And I wish you the best in your life for the wise decisions that you will make ahead.

Regards
Roxette

Posted: Mon Jul 25, 2005 8:19 am Subject:

Hey, Im 27 as well. I have terrible credit and am seeking out possible solutions to get it repaired. It is very possible I will be getting married and do not think I will be able to buy a house. So I am trying to et my financial life back in order. I just signed up on this forum today. Looks like we're all in the same boat.

Posted: Mon Jul 25, 2005 10:10 am Subject:

No ones's life is ruined. People make mistakes and as stated earlier you just need to learnfrom them. What you need to do is have a plan to get your credit back on track. If you do nothing, you'll stay in the same boat. Some examples are.

1. Cut up your credit cards
2. Get in touch with a firm such as Lexington Law that can guide you through the ins and outs of fixing your credit.
3. Use the resources of this website to consolidate or negotiate paying off your debts.

Remember, nothing happends over night and it does take some time but you can emerge from bad credit and lead a normal financial life. Stay positive!

Posted: Thu Aug 04, 2005 5:28 am Subject: I am 22 with horrible credit

I am 22 and I have horrible credit. I have to obtain a crdeit report and see what my rating is so far. I hope to purchase a car by the end of this month. I need some help and I need it fast. Please help!

Posted: Thu Aug 04, 2005 6:14 am Subject:

I'm 19 with a credit score of 513. I used to have a score of 600 which was ok for someone who barely has credit, but as soon as I made the mistake of getting a credit card and various loans, it went downhill from there.
My car has been repossessed and auctioned off, which was terrible, but the car wasn't working well anyway (gotta make the best out of a dreadful situation).
One of my banks offered to refinance my 3 loans I have with them, which is great and I'd recommend that.

I'm about to look into debt consolidation. My main concern is the 6 payday loans I have left. My own boyfriend doenst even know about some of 'em!

Just remember that if you hit the bottom, it gets better...you can only go up from there!

Posted: Thu Aug 04, 2005 8:15 am Subject:

You can repair your credit. It takes discipline, persistence, and patience. Hang in there and educate yourself as much as can about credit and how to repair it.

Posted: Thu Aug 04, 2005 3:11 pm Subject:

Hi ferris_cheerleader

Welcome to the forums.

Since you are looking for a new car, the three digit credit score is the most important factor to analyze your financial worthiness. Based on these credit score, loans or credit can be acquired from the creditors and other lending agencies. When the credit score is evaluated, extensive research is conducted on the following areas of your credit report.

Your payment history is analyzed.
The amount that you owe is taken into consideration.
Length of your credit history is determined.
They look out for the types of credit that you have used so far.
They will look into your new credit.

Please use the following tips to improve your credit score.

Check for incorrect entries - It is mandatory to check your credit report for any mistakes from all the three credit reporting agencies. You can review your report for at least once in a year as well as several months before you apply for a loan.

Timely payments It will be considered a very good practice if you always pay your bills on time. Your prompt payments will put you in a much comfortable position before you apply for a loan. This point is emphasized because a late or missed payment just before applying for a loan lowers the credit score and has worse impact than a missed payment five years ago.

Bring credit balance to the minimum - It is always beneficial to reduce the credit card balances as much as possible. The FICO scores get affected due to how much money you owe on some cards relative to your total credit limit. Credit scores are seen improving if the balances are kept below 25% of the credit card limit.

Don't linger your payments It is suggested not to increase the ratio by closing an account and transferring the remaining balance to another account since the ratio of the credit card balance is linked to the credit limit. Doing this will lower the credit score which should not be generally done while you are on your way to increase your credit score.

Unused accounts to be kept active - While you are applying for a loan, it is suggested not to close any unused account. At the same time, it is suggested not to open a new account also during that time. It is said because if you are having a short credit history or less number of accounts, the credit score gets lowered when a new account is opened as there is no proven track record of it.

You can consider using the services of the debt consolidation programs to make all your accounts current and enable complete payments. The debt consolidation program will also offer you the following benefits which will make your repayment easier and faster.

http://www.debtconsolidationcare.com/benefits.html

Regards
Roxette

Posted: Thu Aug 04, 2005 3:15 pm Subject: PLEASE HELP

I just moved to Tennessee to live with my brother in-law to started a new life, and fix my credit at the same time... But nothing is forever. I went to look at some of the near by appartment 2 weekend ago and got rejected.. because my credit score was at 519... I just got my credit report mail in today, and come to find out. There is lots of stuff that need to be clear.. please help.. need to learn how to clear my report.

Posted: Thu Aug 04, 2005 3:24 pm Subject:

george_say

Please read the post of Roxette above your post to clean the credit report. After you have assembled all the errors in your credit report, you can dispute with the credit bureaus requesting for rectification.

They will conduct investigation and if any change is made, they will issue a free copy within 30 days.

Make sure that you pull your credit report from the other two agencies also and compare each one. Doing this, you will be more accurate in filing your dispute.

Please send all your letters through certified mail with return receipt requested so that you can trail all the correspondence.

If you are having defaults in your payments, you can consider consolidation programs to complete the accounts peacefully. It will fetch you more points in your credit score after all your payments are shown complete

Posted: Tue Aug 09, 2005 6:52 am Subject:

Well, I might want to pour a glass of the bubbly! My credit score has gone from 513 to 528! Yay!
LOL!

Hey, it's a start. Slowly, but surely...that's the way to go!

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My life is ruined and I'm only 27! PLEASE HELP ME!!!

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