Monday, September 14th, 2009

How to repair my Credit History?

fix credit history
Sephiroth SOD asked:


I need help in fixing my Credit History.. im wanting to pay off all my debts with payments ? my Credit is really bad. and i was wondering if i end up paying all the things i owe would it get better? and if so how fast? and is there any Angency that would help me ? im on SSI and SS Benifets and im trying to work out my bad history.. it makes life living bad cus you can’t do anything … i try to apply to this apartment and they turn me down.. so if you can help me that would be great.. thanks

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10 Responses to “How to repair my Credit History?”

sortaclarksville Says:
September 15th, 2009 at 2:06 am

The only way to fix it is to pay everybody off. How long it takes to clear off of your report after you’ve paid somebody is up to them. Some places report monthly, some quarterly, some not as often. As you start paying on time, paying down the balance, and not charging new items in the meantime, it will get better.

spifiman1 Says:
September 15th, 2009 at 4:51 am

I used Consumer Credit Counseling Services they are the oldest in the Country and are non profit as is free.

They worked with my creditors to lower both my monthly payments and my interest rates. I was debt free in 36-months.

You can contact them at 1-800-388-2227.

Staying Home and Lovin It Says:
September 17th, 2009 at 1:22 am

No matter how bad your credit is, you can take steps that will make it better.

1. Pay all of your bills on time. Late payments (payments that are 30 days late or more) have a negative effect on your credit rating.

2. Reduce the number of credit cards you carry. Write to your creditors to request that they close your accounts and report this status change to all three credit-reporting agencies

3. Avoid bankruptcies, tax liens (a lien for not paying state or federal income taxes or property taxes) and collections. A bankruptcy stays on your credit report for up to 10 years. Collection accounts and paid tax liens stay on for seven years, and unpaid tax liens will haunt you forever.

4. Request in writing that your creditors reduce the credit limits on your accounts to lower your amount of available credit. The total amount of available credit is considered by lenders even if you owe nothing.

5. Ask a family member or friend to co-sign on a small loan or credit card to help you re-establish credit. Make your payments on time.

6. Get a secured credit card to help reestablish your credit. You will have to keep a designated amount of money in an account that will be sufficient to cover your charges. Make payments on time.

7. Get a yearly copy of your credit report to catch any errors (see ‘eHow to Obtain a Copy of Your Credit Report’).

When you have a friend or relative co-sign on a loan or credit card, remember that that person’s credit will be affected by the payment history as well.
Credit-repair clinics and consumer credit agencies arrange repayment plans and restructure payments to fit your budget. But even if the creditor agrees to the plan, smaller payments and skipped payments can still be reported against you. Some credit-repair clinics charge up to $2,000 up front to get the paperwork started and cover administrative fees. Some CCAs are free. You can call the creditors yourself and make these same arrangements for free.

blklacquer Says:
September 19th, 2009 at 4:31 pm

Do you know your credit score? That’s important as well as knowing whats on your credit. If your credit really is as serious as you think after you look over your report, then maybe you should try CCS. But if its not that bad then you can increase your credit score by making payments on time. I know it will be hard since you are on a fixed income. But if you can do any little thing and get extra money you could apply it to your debts. Pay off the cheaper ones first. It may take a while, but remember that you didnt get into debt overnight so don’t expect to be out as quick. I got my credit score up 153 points within a year. I also recommend The complete Guide to Credit Repair. I checked it out from the local library and it helped me get some things straight. And please don’t fall for the cleaning up your credit for a fee scam. Good Luck.

jackie Says:
September 20th, 2009 at 10:41 am

I’m no expert, Im basically in the same position as you. but what I’ve been told is … be careful of credit repair scams….if you do it on your own, first of all…its not a quick process, it will take some time but then your credit wasnt ruined overnight. So besides paying your debts you will also need to get some positive things on your credit to counter the bad. Those bad debts, even tho you pay them off, will remain on your credit report for 7 years..but they will show “Paid”. Creditors will still be able to see that you had trouble paying in the past. Slowly they will begin to drop off (as they reach 7 years). and you will be adding positive credit so it will eventually outweigh the bad. Of course you should get a copy of your credit report (you can get a free copy once a year) and make sure that the debt is truly yours. If not you can challenge it and have it removed. That can be done in a matter of months. In the meantime, be diligent about paying everything on time…including utilities. And maybe get a secured credit card and slowly start building positive credit. PS…Make sure you pay your rent on time and are on good terms with your landlord because if they see a bad renting history you’ll have a really hard time finding a new place.

Lexi C Says:
September 21st, 2009 at 6:27 pm

Last year I thought I ruined my credit with unpaid bills and too many credit cards. Then I found this article while browsing online, and it helped alot.
Enjoy!

Trixie Says:
September 23rd, 2009 at 9:15 pm

creditboards.com helped me to repair my credit, and now it’s just about perfect.

twv851712341 Says:
September 24th, 2009 at 9:10 pm

Follow these simple guidelines to help restore and improve your credit score.

First, make sure all the information on your credit report is accurate.

Second, try to pay off all or any accounts that are currently in collections or make payment arrangements with the creditor to pay off the balance monthly.

Third, any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.

Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.

Repairing your credit and improving your credit score is a slow process that takes time.

Carrie O Says:
September 26th, 2009 at 4:45 pm

Getting a job and getting off ur *** would be a good start. Also, stop buying things you can’t pay for.

What the hell am I talking about?! You get free money from the government, and now free money from me, which my hands are killing me from working for it. You officially have it made! Peace out!

Dixie M Says:
September 29th, 2009 at 10:32 am

Maybe you can try below website to get the information you need. It’s about credit repair that you can do it yourself articles for your second opinion.

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