Credit Fix Repairs

Archive for the ‘How to fix my credit’ Category

I need to know what shows up on your credit report?
When i as 18 i was an idiot and got a place with my best friend and i got the cable and electric in my name and i didn’t pay the last months bills for the last month we lived there. I also have 2 medical bills and i owe National City Bank 150. in overdraft fees from three years ago. Three years ago i got a car which was from a buy here pay here and they said they didn’t mess with credit unless i needed a referral from them, but i never paid the last 400 because the car broke down on me before i had it for a year, i paid over 3000 on it though like an idiot so i didn’t knowif that would appear or not. I am going to call tomorrow and start making payment plans with the four biggest places i owe, i am doing this because i have a daughter and i love her and want to have a stable house for her to live in by the time she is in school..
Is there anything i can do to help get myself out of this mess after i pay the places off? What can i do to build credit?
Also do you have any idea how much it will cost me to get a verizon wireless phone in my name? Like down payment wise? In all i think i am in debt $ 500- $700 dollars, and i happened to forget that i got into a wreck w/o insurance two years ago and owe $2600 i go to court on the 27th for it, is there any way to get that amount lowered?
I do need a cell phone due to the fact i am going back to work when my daughter is 10 weeks, thank you. Most people i know are in far worse debt than me and have NO expectations of clearing it. I am only 22, so why be rude and not answer any of my questions?!?
Thanks to the first two answers!!!!:)

Regarding the phone….if they have MetroPCS where you live…it’s a good deal. It is a flat rate (around $45/month) for unlimited phone service. The doesn’t includes pictures, internet, etc…but it will keep your phone bill at a low, set rate each month and you won’t have to worry about a big bill, or not having contact with whoever is caring for your baby. As for rebuilding your credit…do what you said. Pay off those old bills and get a secured credit card. You will have to put up an amount equal to your credit line (send in $300 if your credit limit is $300) and you can use the card to establish credit. When you are ready to close that account, your money will be refunded to you. This kind of card builds credit just like an unsecured card, no matter what you might be told. I know, because that’s how I started building my credit when I first became an adult. Good luck. It will take a little time, but you can do it.

I thought we needed to consolidate his debt and start paying it off, but people are saying not to, that in a couple years it will disappear from his credit score? We don’t have lots of money for this, so don’t start saying "pay over the minimums" etc. That money is going towards MY debt. I just want to increase his credit score as cheaply as possible. I’d like it to be around 650 in the next 5 – 10 years.

Will his old debt disappear on its own in a couple years if we do nothing? Or do we need to somehow make a deal with these people? Should we write each company he owes individually and offer them cash settlements at say $0.50 on the dollar? Let me know the best way to eventually remedy the bad credit situation.

We are not in a hurry to pay them off. I just want to raise his credit score in an affordable manner. He owes about $15,000 and we have $5,000 now and could apply another $100 a month to paying it off. We could spend the $5000 all in one shot to pay it off, or we could use it slowly to pay it off.

Please no "learn how to budget" etc. lectures. We do that, this is very old debt. We can’t live any cheaper than we do and provide a safe home for our children.
Ah, they did stop calling us a few months ago! It must be off his record. But his credit score is still low, how do we build it back up now? I could put him on one of my cards…

Some of the answers given here just blow me away…

I do feel like I need a bit more info to really answer but I’ll do my best. I agree with the person who said the 360 is an atrocious score and something doesn’t seem right. I don’t think I’ve ever seen one that low.

You mention the debt is from an 8 y r old credit card.. when did he default on the credit card (s)? That is so important to answering this question right. You do say ‘very old debt’ too so I just don’t know how to address this.

Negative information can only stay on a credit report for 7 years so this leads me to believe the debt is not that old OR it hasn’t come off and if so, you can simply dispute the account and it will come right off.

Now you also really need to check your states statute of limitations. Most states only consider a credit card account legally collectible for 3 or 4 years (most 3). That means that if it is older that 3 yrs (or whatever your state SOL is) they can not force you to pay. Period. They can try to collect the money, they can even try to sue you but all you have to do is defend yourself and show you know the law. Simply state, ‘this is a credit card and in xyz state, the statute of limitations is 3 yrs, this debt is 5 yrs and is therefore legally uncollectible.’ If you were sued, you just show up in court, show the statute and the judge dismisses the case.

You can check your states by going to the link in the resource box.

There is also an article there about should you even pay charged off accounts. The person who answered that you must pay the debt is dead wrong. That is SO not true. If the debt is out of SOL, you do not have to pay as it is considered non collectible. You should also realize that paying this debt off is not goign to help your score one single ounce even if it is still within the SOL. If you check your state and the credit card debt is still within your states SOL, just sit tight. Do not contact them, just sit and wait it out. Starting to make payments, at this point is not the smart thing to do at all. If you are still within the SOL and they are going to sue you, then you can work out a payment arrangement but it sounds like you will be out of it.

You would be MUCH better off using that money and getting a couple of thousand dollar secured cards. This is where you will see a huge improvement in his score. Assuming the debt is older than 7 yrs or within a year of 7 yrs, they will fall off the report and when you start to add positive credit, you will see his score up in the 650 range a lot quicker than 5-10 yrs.

There is also a link below that tells you more about what a secured card is and shows you 3 places that don’t have any annual fees and low or zero % interest.

I also suggest you leave a comment on one of those posts and she will answer you personally and help you out. She is wonderful and so smart about all of this.

http://creditrepairinfoservices.com/blog/does-paying-charged-off-accounts-help-my-credit-score

http://www.comebackcredit.com/statute-of-limitations-on-debts/

http://www.comebackcredit.com/what-is-a-secured-credit-card/

About 2 years ago I went crazy with credit cards… I was too immature and didn’t realize the consquences. Since then, I’ve moved several times and haven’t gotten bills. They get sent to my parents home (15 hours from where I reside)… I get the annoying phone calls and I dont know what to do. I can barely afford to feed myself. Now, I get an email from an old roomate telling me that some man has been calling you and that I put her name down on something… and then I need to get in touch with him or I’ll be facing legal actions. He has NOT called me… My mom has incurred some debt and I know she has to appear in court… well, they dont know where I live and I’m affraid I’ve had to appear in court and didnt. I’m 20 years old and unsure what to do. I do not get help from my parents, I pay for everything and so I just dont know what to do. My own stupid self got me into this mess and I need to get myself out… I just can’t figure out why this man would call an old roomate. HELP!

When you say you’re barely getting by, is this including your CC payments or not?

If you are barely getting by and still not paying CC, then you either need to raise income or cut expenses (or both)

If you are paying CC’s (barely) and are struggling you might want to consider CH 7, Ch 13, or Credit Counseling.

If you ignore this all, you will eventually get sued, you will lose, and depending on the state you live in 25% of your wages can be garnished.

First off, I have had a jobs that makes tips as long as I have been employed (23 years). My income "looks" low. Second, I usually pay cash for most everything. I don’t own a house. I have never taken out a loan for anything. I do have a secured credit card that I use for online purchases and pay it off in full every month. My only real credit blemish is not paying the county hospital for my pro-rated to income surgery I had 17 years ago ($600) and department store credit card I never paid when I was a teenager ($60). The rest is just lack of credit. How can I make it more appealing for a bank to grant me a loan? I might add that I have been with the same credit union for 20 years and have had a minimum balance in savings of $4,000 for the last 6 years.

Building a positive credit history is a gradual process. See here: http://credit.about.com

my credit card bill have sky-rocketed. and i feel i won’t be able to pay substantial amount to keep it down so i’ve decided to call the credit card company and "come clean" tell them about my predicament..i’ve somehow saw it once on tv that it can be done..i just missed the other parts though..i think you can have this "settlement" with the cc company…i just wanna ask what to expect with the conversation..i mean, in the end would i benefit from this..meaning:no hidden add-on rate..or is it really their call.
im clueless..please help.

You might need professional debt advice help. Check website like http://oktutorial.com/debtadvice.htm .

if you have a 590 -600 credit rating how long providing reasonable fixes are in place would it take to fix my credit. I have loan in default in the last 3 yrs, but OK now.

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – buildcredit.ifastnet.com

I need to Fix my credit background, and not sure where to start or how to find out whats wrong with it, what do i do ?

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – credit-report-score.10001mb.com

Hi. I know that I’ve made plenty of icky credit mistakes and I’d rather not be judged. Instead I would just like constructive, helpful advice so that I can figure out how to get out of the rut I’m in. It all started when I was 18. My dad had died a year earlier and my mom got re-married so I had to leave her house. I had no money and no means to be out on my own. I think I had 350 dollars when I left. Thankfully my current roommate has been paying my share of the bills for a while now. I still owe him of course but that’s not my BIGGEST concern. I’ve had 2 credit cards way over the limit for more than 6 months now. I also had 2 bank accounts that were charged off because I went over on debit charges and wasn’t able to pay them and I took out a payday loan for 500 dollars that I haven’t paid back yet. I still owe $425. On top of that I owe my rabbi money for taking care of my rent and utilities one month when I couldn’t. That’s $1,500. I work a part-time job and am getting ready to start school for the summer. I should get student loans for that. I know it seems like I’m very irresponsible but the things I had to borrow money to pay for and use credit for were basic necessities like rent, food, toiletries and medical care. I’m not a frivolous person. My mom never really helped me figure out finances. I had a collection agency call my roommate today. I have no idea how they got his number. I just want to take care of things. I’m really scared of being taken to court. I want to have a decent credit score. I just don’t know what to do or where to start. Please help. Thanks!

You need to contact the companies you owe money to and work out a payment plan, then you need to pay, in full, on time, each and every month.

The payday loan thing can lead to an arrest, so you need to pay that back right away.

You are also going to need to take care of the bank accounts, otherwise you will go your life without any accounts and will not be able to buy a house.

I am about to pay all of my debts off in full. How long will it take for my credit to improve once I do this?

i dont know but make sure you get proof of payments because some of these debt collectors are scammers and they will take your money and you will still owe …investigate the debt collector ..google them and also make sure that they give you a debt validation letter

Q 1. 9 years ago i was a victim of fraud.. some one stole my debit card from wamu. I remember I went to the bank to ask about some charges in my statements and claimed it wasn’t me. At the time i was 18 and i didn’t know what to do. Well the bank teller gave me a paper to fill out and that was it. I thought that was going to take care of it. Well no the bank ignored me completely and charged me for debt that wasn’t mine and eventually closed my account. A year ago I received a letter from wamu and said i owe them 20,000. I don’t know what to do now. Do i need to get consult a lawyer?
Q 2. Whit in those 9 years I managed to screw my credit really bad, how can i fix it? How does bankruptcy work?

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – freecreditreport.hotusa.org