Repair Credit Score

Archive for November, 2006

Question: How can I get a loan for 3000 when have a poor Credit Score?

I am trying to get a loan large enough to pay all my bills, roll them all into one that way I only have one thing to pay. If that makes sense.

Answer: ask your bank or other insitution for a "consolidation loan"; it is likely that you will have to provide "collateral" that is, you will have to give them information about, for example, your car, if you have one, or something else of value that they can use as a security in case you default on the loan. try to get a reputed company; there are lots of places out there trying to take advantage of folks having financial problems; try to get your help from a local bank that you know, if you can, or a credit union. Good Luck!

5 Ways Poor Credit Score Costs Fortunes-Credit Secrets Bible

Question: If I pay off all my bad credit, how fast to see a good Credit Score?

How soon will my credit go up?

Answer: It depends on what typr of bad credit your talking about.

If it's open accounts that you are behind on then it will go up in the next 30 days after you pay them and bring them current.

If on the other hand it's old accounts that have been sent to collections unless you call and get a pay for delete agreement in writing first it will actually lower your score because the accounts will become current rather then old.

Without this agreement it makes no sense to pay old collection accounts because it will not help your score at all.

Good Debt vs. Bad Debt: Do You Know The Difference?

Question: How can I raise my Credit Score?

I have been on this up and down rollercoaster with my credit. Just at the beginning of the year my Credit Score was a little over 600, now it was ran a couple of weeks ago, and now the median score is a little over 550. I dont get it, I am on time with my payments, and I have not applied for any other credit cards or loans. I have signed up for a credit company that professionally disputes items on my Credit Report. Was that a good move? I also disputed items myself a couple of months ago, and SOME items were removed, but the score had not been updated yet, so how long does it take to update my score number. HELP! We are trying to buy a house in a year, and we will be making a lot of xtra income, is it better to pay off 1 of the 2 cars we have or is it better to save the money for a down payment. Oh another thing, we area single income family as I am a stay at home mom, and I intend to stay that way. So whats the best thing for me to do?

Answer: They go by your debt ratio and how you pay the creditors that report to the bureau's.

Sometimes you have to constantly be on the bureau's behinds and your creditors, to report accurately.

My own goes up and down 2pts, then jump 10....it also depends on whose pulling the report.....enquiries will also bring the score down .......I don't allow anyone to pull my credit, no matter how much the beg, plea and lie that it will not hurt "your score"......they lie.
You have a professional credit company "bah humbug" they may be the cause to collect more more and you can do it yourself!

It takes about 6 months to a year to get a higher score, just don't get any deragotories! and keep your debt on your credit cards less than half and pay them about 2 weeks in advance..............weird but this is what they look at.

To Close or Not To Close (Credit Card Accounts)? - Jake, Amir and Experian