I filed for bankruptcy in 2007, my current credit score is 640. How can I Raise My Credit Score before purchasing a home?
with a bankruptcy in 2007, you can forget about a mortgage for at least 5 yrs after the BK was discharged – that’s how long it took me – I’m surprised your score is as high as it is with a recent BK
I am trying to consolidate my bills and get my credit clear so I can start a business.I have very,very bad credit and I am tryiing to start a business. How would I get a credit card for my business with extremly bad credit. And who will except me?
It’s all tied to your social security number. Business doesn’t matter.
Before you do ANYTHING listen to this. Scroll down and click "Listen to Dave". JUST LISTEN.
http://www.daveramsey.com/tdrs/index.cfm/2007/9/17/Getting-rich
This one audio clip of his CHANGED MY LIFE when I heard it.
Listen to this man for free, on the radio or online. This is like getting financial wisdom from Bill Gates except this guy has a national radio show.
who do i Hire to help me clean my credit report?
There’s nothing they can do that you can’t do yourself, for free. If there are any inaccurate reports, dispute them. You can go to Equifax, Trans-Union and Esperian’s websites and do it online.
I want to apply for an apartment but they need a 625 credit score. I lost my job for a few months and am now behind on two accounts.
My credit score is 597. I can bring the accounts current in less than three weeks but will just that be enough to raise my score those 28 points? I don’t want to waste my application fee just to get rejected.
Realistically you will not see any real movement in your score under 6 months, I have seen some scores move by up by 80 in that time period. Here the blue print I got from http://creditcardwithbadcredit.info
- First pay off your existing credit cards to below 20% of the credit limit
- Second write down the average due dates on all your cards and schedule a mental note to pay at least 2 working days before.
- Use a minimum of 5% and maximum of 9% of each credit card limit monthly (ensuring that you pay off that amount each time monthly, thus keeping your balance below the 30% line.
- DON’T APPLY FOR ANY OTHER CREDIT – This is a big no no because they will ping your credit score and it will negatively affect you.
Thats the basic blueprint if you want results in the shortest time possible and within a year you should see close to 700. Read my source it has a great article.
I have a friend with bad credit and she’s tired of prepaids. She’s trying to find a cell phone company that allows people with bad credit to have something at least. Which one is good. I don’t have bad credit and know most companies will give you no hassles, but don’t know anything about bad credit. Which company should she try?
She has a bad credit rating for a reason….shes a bad payer don’t encourage her …let her keep prepaids that way she wont get into anymore trouble…
I am 43 had 3 husbands and they ruined me and my credit. I don’t have 7 yrs to wait for it to be cleared and I don’t want bankruptcy…can I change my name and ss# and get a Clean Credit Report. Desperate to live again!!
There is not a way to change a social security number just in order to clear your credit. Yes, bankruotcy is an option. It will stay on your credit for seven years but (there are always buts in life) there are different chapters of bankruotcy. Chapter 13 is basically a debt consolidation. You and your creditors agree on a plan to pay back debt and that can be anywhaere from 3 to seven years before its dicharged and you can reestablish credit. There is also Chapter 7, this basically wipes out EVERYTHING and is discharged in 3 to 6 months allowing you to reestablish your credit sooner. It is pretty easy once the bankruptcy is discharged to reestablish yourself.
When it comes to your credit score, you can always work to increase it. Today’s world seems to revolve around your credit score. It affects so many parts of your life — your apartment, your employment, your insurance premiums and your ability to borrow money. A good credit score enables you to purchase a home, get a cellular phone, pay less on your interest rates and easily find credit.
Your credit score is also frequently called a FICO score. The score tells lenders what type of borrower you are. If you have a high score, it says that you pay your debts on-time and as promised. A low score says that you are at risk for not paying your debts. FICO scores range between 300 and 850.
Credit scores reportedly focus on the last two-years of your credit report. They will consider all of your information, but the main focus is on the most recent. This gives you the ability to increase your score fairly quickly. Yes, it still can take up to a year to see great results, but they are well worth it.
Your credit score is based upon:
Payment History — 35%
Availability of credit and usage — 30%
Duration of open accounts with creditors — 15%
Credit inquiries — 10%
Composition of your credit file (the type of debts you have) — 10%
The good news is that while it takes some time, the steps to improve your credit score are quite simple.
Start will getting a copy of your credit score from each of the three main credit bureaus: Experian, Equifax and TransUnion. Review each report for inaccurate information. Most people will find a mistake on their report at least once in their lifetimes. These mistakes can lower your score and cost you a lot of money in interest, so it is important to make sure your report is accurate.
Once your report is accurate, start paying your bills on time each month. This is the main thing that will raise your score. Late payments will lower your score faster than anything else. You have to pay on time, every time.
Take steps to lower your debt as much as possible. You want to have at least 50% of your credit unused. That means if your have a limit of $20,000 on your credit cards, you don’t want any more than $10,000 charged on them. In fact, lower that as much as you can. The less you owe, the higher your score.
Pay on time and pay off as much as possible. These two methods will help you raise your score easily. Not only will it increase your score, but it will save you lots of money. You won’t have late fees to pay, you will have fewer bills to pay towards debt and you will get better interest rates from lenders. There are many advantages to having good credit, and anyone can have good credit. It just takes a little work and a little time.
Martin Lukac
http://www.articlesbase.com/credit-articles/easily-raise-your-credit-score-83327.html
It is a sad reflection of the world that we live in today that so many different people are not only able but actually willing to profiteer at the expense of other people, and seek to make a quick buck from other people’s misfortunes. The so called credit crunch has really caused a massive global recession meaning that more and more people are finding it difficult to obtain credit and loans and worse yet, are finding that poor or even less than perfect credit ratings are coming back to haunt them. Such people will either find their applications rejected outright, or if they are extremely lucky will be granted a loan with rather excessive interest rates attached to them.
A person’s credit rating/score is used as by financial institutions to determine the level of risk that the applicant poses, and whereas previously money lending was a boom industry with rather lax criteria, now the financial organizations are seriously tightening the net so to speak. With loans with affordable repayment schedules becoming ever increasingly hard to come by many people are going to rather extreme lengths to try and salvage their rather poor credit score.
A rather sad effect of all this is that whilst the legitimate finance sector has declined, the illegitimate one has expanded rapidly and among all of the scams that crooks will subject victims to, one of the most increasingly common and popular is the credit rating repair scam. This scam involves a company purporting to help repair a poor credit rating and in some cases (if their own overblown, bombastic hyperbole is to believed) actually resurrected from the dead.
Consumers, please note that there is an entire wealth of information provided for credit agencies, the federal government and through citizen advice bureaus. This information is readily available in the public domain and is totally free and so if a credit rating repair company should ever demand a fee for their services then walk away very quickly.
If they happen to require a fee to be paid upfront before any sort of advice or counseling is provided then be prepared to never see your cash again. Such companies that engage in such practices tend to have a rather nasty habit of mysteriously disappearing never to be found usually within an extremely short time frame.
These fraudulent companies prey on human weakness and peoples desperation and so they often make offers that are incredibly tempting. One such example is where credit repair companies will offer their clients an opportunity to create an entirely new credit account which will allow for the client to quash all their outstanding debts, and start afresh to deal with creditors as they so wish. Think about this logically for a second. If every consumer were able to do that, then how on earth would the finance sector have any guarantee that people would be able to afford the repayment schedules? How could banks determine beyond reasonable doubt that a prospective client is who they purport to be? Exactly.
While this offer sounds tempting, there is a very simple word for it: fraud. The government takes a very dim view on this particular form of credit repair, and the law makes no real distinction between the credit company that instigated the idea and presented as a valid and legal option and the unsuspecting consumer who was an unwitting part of this criminal conspiracy.
Ignorance of the law is not a legitimate legal defense, and so you may find it a hard sell trying to convince the judge that you did nothing wrong.
Poor credit ratings is a major concern and because of the significant potential for abuse and criminal conduct, the government has founded a number of different initiatives each of which are intended to help educate consumers as to their rights. Being creditworthy, paying bills on time and being a responsible consumer is a big requirement but a necessary evil. The government has no wish to see consumers struggle with debt and poor credit ratings and so will be more than happy to advise consumers as to the best possible course of action to take for any given situation.
Nicholas Boler
http://www.articlesbase.com/credit-articles/scams-involving-credit-repair-734732.html
http://www.a1creditrepairinfo.com – Asking yourself how can I rebuild my credit. Ask no more – get free Credit Repair Advice from Tim Beachum credit repair expert
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