bad credit, and how to fix it?
I have bad credit, medical bills, bogus car loan, and prepaid credit card. I am looking into buying a home and would like to get approved for the loan. how can I pay back old debts, find out who I owe, and where to send money. if I start paying back immediately, how soon can I see a change in my credit score?
Public Comments
- What are you thinking?? Go to daveramsey.com and get out of debt before you try to buy a home. His plan is wonderful and it really works!
- go to one of those websites that will give you a credit score, make sure it is a legal and safe website, and you should be able to get a list of who you owe from that. maybe not. hope i helped?
- If you're able to start paying back immediately, why haven't you already done that? The mortgage company might ask that question - and might not look at you as a very good risk to pay THEM back on schedule.
- Get all three of your free credit reports form www.annualcreditreport.com and this will give you a place to start. It will have a list of all of your creditors, collection activities etc. Contact all of them and work out payment agreements, be sure to get everything in writing before you start paying. As far as how long it will take, it could be up to 12-18 months before you start to really see any change in your credit report. It takes years to establish good credit and only a couple of months to trash it.
- First you need to pay off old debt, you don't want to buy a home and be in more debt.. and your score needs to be fair and never be late on payments after you have paid your bills off
