A Friend In Need Is A Friend Indeed

PLEASE PLEASE PLEASE HELP US!!!!!  My wife and I are trying desperately to get a home mortgage.  I personally have deleted more than 20 collections off my report successfully.  BUT! Heres the catch, my score has risen from a 455 to a 551 in two months-In return I have no credit debt now reporting (Other than a car loan with a massive interest payment).  I cannot find a lender that will consolidate my wifes existing bills though.  We have dedicated our lifes around the computer trying to fix this problem.  We both just recently signed up for credit monitoring services, and on their analyzer tool it shows that if we took out 10 50 dollar secured loans it would raise our score thirty points at a time.  Does this sound right? I am desperate for all the tricks that I can take to make this happen for us.  We currently live in a 1 bedroom apt. With two children.  It is getting a little stir crazy , if you know what I MEAN………..Thanks for any advice.

Daniel

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Hi Daniel,

If you have any favors to call in from any friends or relatives, now’s the time.  Adding on to an existing credit card takes about five minutes and could potentially add 100 points to a credit score.

Yesterday, I learned that a friend of mine had been denied an auto loan for a thin credit file and a 630 credit score.  I called my credit card company and added him on as an Authorized User for a credit card that has a $37k credit limit, zero balance, and ten year spotless history.  It only took five minutes, all that was needed was his name, social security number and date of birth.  The credit card will be mailed to my address.  In about forty-five days his credit score should be well over 700.

Daniel, it’s time for you to call some friends and relatives.

Thanks for the questions.

Paul