MY CREDIT SCORE

Date: Thu, 07/23/2009 - 12:32

Submitted by anonymous
on Thu, 07/23/2009 - 12:32

Posts: 202330 Credits: [Donate]

Total Replies: 1

I never knew what a credit score or a report was. But when i hit 33 i was working and going to college and received bunch of credit cards offer that i sign for and thought i had the best reference on the world to receive credit card. When suddenly my job went drastically from 40hours to 15hours and i kept seeking jobs that continue to close due to bankruptcy and by the time you know i was never able to comply with payment and regardless that i kept seeking credit counseling and management. It was not until i found out that low income can buy a home with section 8 that i went to a workshop and when they pulled out my credit i had no clue what it was and found out to my luck today i am still making the effort to mantain and job and to make payments with cccs. Do you think if i continue making the payments faithfully that i would be able to rebuild my credit if i do not get into further debts and pay ontime.?

You need to make a list of your debts. Make a list of all of you

You need to make a list of your debts. Make a list of all of your expenses and necessities-rent, utilities, food. Pay these first. Anything left you need to set asside. Do not splurge on anything and STOP using your cards right away. If you are currently able to pay your cards then you are in a good starting point. Since you have your list of debts and your necessities paid you need to make a list (here is an example)

discover- balance 480 intrest 18% min payment 15
MC - balance 250 intrest 5% min payment 20
Visa - balance 1000 intrest 16% min payment 17

etc

Now say you have an extra $25 a month- I would add it to your lowest balance every single month. When that card is paid off-take your payment you would be paying (20 + 25 = 45) and add it to your next lowest balance- you'd now be paying 60 dollars to the discover. Do the same when it is paid off- instead of paying the 17 to Visa, pay 77.

It will take some time, but you can get there. Anything extra you have-pay towards your debt. I have learned that if I can pay an extra 5 dollars towards it-it helps slowly but it helps.

Also, you can try calling your credit cards and seeing if they can reduce intrest rates. If you are getting close to maxing out your cards make sure that you are paying enough to keep from going over your limit-that is where you get socked with fees!

Hope this helps some.

Chrissy

lrhall41

Submitted by chrissytex446 on Thu, 07/23/2009 - 16:32

( Posts: 50 | Credits: )