ok i did it! some pif, some settled, some pfd, and they are all showing zero balance!!!! but my problem is my score-its mid 500s..and i want to raise it...i would like to buy a home in the next year or so, but i know i have alot of work left to do. the only open positive account i have is my car loan-paid as agreed..what should i do to raise my score? my negs will start falling off this summmer--do i need more debt to get a good score?
Congrats on becoming debt free!
Sub: #1 posted on Sat, 05/02/2009 - 22:08
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Sub: #2 posted on Wed, 05/13/2009 - 08:22
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Here is one way that you can build credit. I did it and it works. It just takes a little time.
1. Go to a bank and purchase and CD (certificate of deposit) and wait about a month. Make it about $500 - $1,000. Don't worry about being out of money, it won't be long.
2. After a month apply for a loan in the same amout as the CD.
3. Use the CD as collateral. There isn't a bank out there that won't do it. It's a secured loan.
4. Make the loan for about 12 months and pay it off. (Remember, you're not getting back into debt because the CD will pay it off in case something happens.)
5. Once the loan is paid off then you can cash in on the CD.
Instant positive credit.
If I remember corectly when I did it years ago it only cost me about $1.11 when the interests were levied.
Sub: #3 posted on Thu, 05/14/2009 - 12:21
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Sub: #4 posted on Thu, 05/14/2009 - 13:40
Connie
Sub: #5 posted on Thu, 06/18/2009 - 16:07
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Sub: #6 posted on Fri, 06/19/2009 - 19:16
Sub: #7 posted on Tue, 06/23/2009 - 21:29