I had a credit score of 583 and about $2300 worth of collections and negative things on my credit; 4 months ago i paid all of this off. Today i checked my credit, and it only went up 13 points to a 596. I have a mortgage that i have never been late on. Why didn’t it go up more? I need an auto loan & my bank won’t lend me the funds due to my score…! I need answers.

Jason (more…)

IS IT POSSIBLE TO IMPROVE MY CREDIT SCORE WITHOUT HAVING TO PAY BACK MONEY OWED TO CREDITORS

STEVEN (more…)

I currently do not have any credit cards. I have a very poor credit score of 574. Last month and this month I paid off about four accounts. I tried to negotiate a pay for delete but they said that they do not do that and made me think that I was crazy. They were all telling me things like that doesn’t exist or we can’t delete and account. They all said that all they could do is update it to show paid in full, and that would indicate a satisfactory account. Instead what has happened is it says Paid, was in collections and my score hasn’t increased at all. I have a terrible run of bad luck lately and I desperately need a car. I am trying to get my credit in order to be able to get a car at a reasonable APR. The thing is I need the car like yesterday.

I have about six more collections accounts to pay off. They all total about $2229.00. The one account that I have in good standing is an auto loan that I am currently still paying on because when the car was totaled I was upside down. That amount is $3973.00.

Where do I begin? What do I do first. I will have the auto loan paid off by 12/18/2009. Do you think that I will be able to get approved for a decent loan by January if I pay off the current loan and pay off all the other accounts? The problem that I am facing now is that places will finance me on used cars with high mileage for unreasonable prices at 24% APR. Please help me. I am lost.

Thank You,
Crystal (more…)

Hello Paul.

I have a question about the impact bankrupcy has on credit scores. I had filed chapter 7 in 2007 with a discharge in 2008. I went today for an auto loan and was told that my credit looked good, no debt, and timely loan payments. He said that he would guess by looking at my credit report I would have high 600 score but instead I have a 558.

I know that it hasnt been that long since I filed but I have paid off 2 loans since then and have one now, with timely payments being made, which is secured. I have known numerous people who have filed bankrupcy and within months they were getting car loans and even buying a house.

When do your scores go up? Why does it seem that mine is so low while others must be higher, given the same circumstances. I just dont understand. Will anyone help me rebuild my credit or will I just have to wait it out?

Thanks.
Marisa (more…)

What would you most like to accomplish AFTER rasing your credit score?

1. Just settle debt
2. The financial well being we used to have, and minimize the amount of debt we incur from here on out.
3. buy a home
4. refinance mortgage
5. Purchase a home
6. Purchase a home, we have medical bills with liens from long ago. over $6K worth. They are preventing me from getting a Habitat for Humanity Home.
7. purchase business
8. Purchase a home
9. Would like to start looking for a new car and eventually a house as well as being able to apply for lines of credit to have just in case a problem arises where I need emergency funds…ex: car repairs
10. get a home
11. Get a promotion
12. purchase home
13. mortgage my lease to purchase home with increased score.
14. Get a credit card to pay off the ATV loan that my exhusband defaulted on.  Then sell the ATV and pay towards the loan.
15. purchase new vehicle and home
16. Help others
17. Purchase a home
18. self esteem
19. in forclosure, need to save my home if possible. Am now sueing in state and federal court for fraud, etc.
20. buy a home
21. large purchases
22. Buying a home, having credit cards.
23. purchase a car and get some credit cards
24. purchase a home and a car
25. BUY HOME
26. I would want to accomplish buying a new house.
27. New home purchase…will have to short sale home (included in BK) soon, one year after discharge.
28. raise my credit score so that we can qualify for our new mortgage
29. Apply for a mortgage
30. Buy a house

And how about you?  What would you most like to accomplish after rasing your credit sccore?

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I am currently living in a house that foreclosed this month. It is a nice four bedroom home I’ve been renting a little over a year now. I really like the house and would consider buying it but there are credit issues I’m working on to improve my credit score. Are their any non-conventional loans that would give me a loan. Recently, I went on the USDA web site and they offer loans to someone like me who wouldn’t qualify for a conventional loan, but nothing is said regarding credit. What do you suggest I do.
In deep thought about this.

Tarris (more…)

I have a CA Wachovia Option Arm loan that is at the million dollar mark, and valued in the low 800s.  I have been trying for 7 months to get better terms, mod with PR is my hope.  I have a steady job and good income and haven’t missed payments on CCs or mortgage in 30 years,  But this loan is slowly killing my financial foundation I have worked so hard to build up.  I am at a crossroads now.  Missed my prop tax, and things are getting tight. 

The Executive Offices of Wachovia told me they are only modifying loans that are 31 days late.  They said they are not suggesting to miss, but if I did, call back on day 31, and I would be modded. 

What happens to your credit score if I miss a few mortgage payments before this mod kicks in?  Does the mod also factor into my credit score?  The way my CCs have been squeezing me with balance reductions and cancelled accounts, does a credit score even mean anything anymore? 

I would appreciate your thoughts on this.

Dale (more…)

I am in the process of trying to fix my credit score.  At the moment its at 561.  I noticed that there is no mention of my cell phone or that I have been renting my apt for the past 14 years. Are these things suppose to be in my credit report?  Would this maybe help my score to go up?

Carmen (more…)

Would it hurt me if i pay off my credit cards in full each month?

Pietra

Hi Paul!  We love your site so much & refer everyone we know.  Thank you for providing a place where people can go to get advice & help.  I’ve studied your help center & listened to your seminar several times, but still have a few questions.  If I missed something, I apologize — but I need your expert advice. 

We are trying to repair our credit.  We started 12/08, pulling our free credit report to start the process of trying to pre-qualify for a home loan.  At that time, (before we discovered brokencredit.com) my husbands scores were 599, 543, 506.  There were a lot of red flags & discrepancies that needed our attention.  We tackled the first things that stood out the most.  There were 2 tax liens that were not supposed to be there and an item that was supposed to be included in a bankruptcy that was discharged back in 2001.  We were able to get all three items removed.  We were excited, thinking that our scores would go up where they needed to be (we assumed that 2 tax liens would weigh heavily…).  We didn’t do a rapid re-score but the trade lines were removed.  There were about 3 new inquiries added when our credit report was pulled (we only authorized our mortgage agent to pull our reports).  It looks like they were all in mortgage industry.  In May we had our mortgage agent request our reports again to see if we were where we needed to be yet, hoping that our scores would go up.  Instead, our scores went down quite a bit.  Down to 587, 538, 515. 

There were about 3 new inquiries added again like before.  So we had a total of 5 inquires on 2 reports and 8 on the other.  We then discovered your site & did the “opt out” thing as suggested on your seminar.  We are still working on our report.  We disputed a few items and are in the process of building our case to have them removed.  As suggested on your seminar, we signed up on Truecredit.com to try and bump some of those inquiries.  It has been helpful to watch the reports and we finally got the 8 inquires bumped to 5 like the others.  On TrueCredit.com this week we got 4 alerts, saying that we have 3 new accounts & 1 new inquiry.  Are 2 of the NEW accounts duplicates & in addition to the previous account listed on our report?  It is an account that we are disputing w/Palisades. The new alerts said,  “Palisades, date opened 3/01/05 reported on 4/8/09, & Palisades, date opened 3/01/05 reported on 4/15/09. - both w/the same account number.  — The inquiry is with N.A.F.S. Buffalo. 

I thought that if we opted out, we wouldn’t get anymore unrequested inquiries.  Is the opt out a one time thing or a multiple thing?  My husband’s scores are now 522, 513, 517.  We just had a medical tradeline removed this month that wasn’t supposed to be there.  I thought that our scores would go up from that.  Again, they keep going down.  I feel like giving up.  Since Dec. his scores have gone down 86 pts. w/Experian, 21 w/Transunion, & only up 11 pts w/Equifax.  Is this normal? 

Is there something we are missing?  I am getting really discouraged and feel like giving up.  We were so excited about getting items removed, thinking that it would help our score but it seems like we’re stirring up a hornets nest.  I am desperate for your advice.

Please, please please help us!!  I don’t know where else to turn.

Thank you,

Cindy (more…)