credit repair?
I have made late payments on credit cards and it seems as if i am drowning in debt i am a single parent who went back to school to get a better job and now i just dont know how to get ahead.
Public Comments
- Here are some resources that are free to help you stop drowning in debt. Don't feel bad, in todays market place, a lot of people find themselves in this problem. http://www.budhibbs.com/drowning_in_debt.htm http://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm Govt approved credit counseling agencies. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm#improve Building a better credit report. http://www.ftc.gov/gettingcredit/ What you need to know about your credit. http://www.ftc.gov/bcp/conline/pubs/credit/crdright.shtm Credit and your consumer rights. Hope this helps.
- You probably should visit with the non-profit Consumer Credit Counseling Services program and see what they can do for you. You can find them listed in the phone book or online for your locality. They frequently can get interest rates decreased or interest waived when they set up a repayment plan and they can walk you through your income and expenses to help you be able to work out a plan. You may also find that your school's financial aid services people can help you locate additional money--you could qualify for some grant or scholarship or even work-study or the like. You do need to stop using your credit cards. Even if you can pay for what you charge, that charge will carry interest on it if you have a balance. You'll need to use cash, your checking account, or money orders. Good luck!
- SOME HOW you need to get all your debts under controll [made more money,} credit card need to be under 50% of your credit limits. this will let you get loans to better your situation. try living @ 85% of your income. start put 5% in savings, 10% paiding off credit cards. after 2 years you will be able to buy a house. try to get 2-3 months money set in savings. i know this is hard but take from the guy schooled in hardknocks.
- Check out daveramsey.com and listen to his radio show. He has lots of great advice on money and debt. he keeps a 10 day archive of shows on his website. It doesnt cost a dime to listen.
- Your credit score and overall credit rating are the measuring sticks by which you are judged. Here are five of the more common and credit history mistakes: 1. Failure to establish a permanent mailing address. If you can't prove that you live at the specific address on your credit application, you will likely be denied. Creditors don't like "fly by night" credit applicants, so be sure to establish a permanent mailing address before you apply for a loan or other credit. 2. Having a "bad" credit history. Your past credit history usually counts for as much as 35% of your credit score, so if, for example, you have had a history of late credit payments, this is definitely hurting your score. Missed and late payments will stay on your record for as long as six years. But the good news is that if you start to pay bills on time and establish an on-time payment plan for at least one year, those missed and late payments will likely affect your overall credit score much less. 3. Being at your address for a short time. If you have been at your current address for less than three years, your credit score will be lower in the eyes of most creditors. Creditors like consistency and continuity, and would-be credit seekers who move around a lot tend to make them nervous. 4. Too many credit cards. Every time you apply for a new credit card, an official inquiry is made on your credit report. The math is simple: too many inquiries = too many potential points against your credit score. And that may indicate overall credit history mistakes and problems. A good rule of thumb is to avoid applying for more than one new credit card per month — especially if you are planning on trying to get a significantly large loan for a home, car or other big-ticket item. 5. Too many different jobs. Most creditors feel better lending money to those who show a consistent employment record. If you have changed jobs a lot in the last few years, your credit score is likely to suffer. If you are planning on seeking credit, wait until you have been at your then-current job for at least six months. for more info on credit: http://credit.privacymatters.com/learning-center.aspx Hope this helps, good luck to you!
