March 20, 2008

Secured Credit Foundation

Filed under: Secured Credit

I found your site about 3 weeks ago and I’m almost addicted to it; I review it every night for about an hour. Your site has information about practical, every day situations and I thank you for making this important information free for some many people that need it.

I have two questions, the first is, if I have a secured credit card with a 18 “pays as agreed” history and I want to convert it to an unsecured card, and the only way, according to the lender is to close the secured account and open an unsecured account, what would you recommend? My thought is to lower the $2,000 security deposit (credit limit)to $500 so I can get back $1,500 and keep the account open, instead of closing it and cancelling this credit history and just apply for the unsecured one. Any suggestions?

My second question is, if a car loan was not reaffirmed after bankruptcy and I want to turn tha car in, and it is upside down about $4,000, can the lender damage my credit report for the $4,000?

Robert (more…)

February 25, 2008

I Hereby Goodwill You

Filed under: Secured Credit

Now that I have paid off all my credit card debt and I’m completely debt free, how do I improve my credit & credit score?

I paid them off in full in Oct 2007 w/out settling for less than what I owed, I just paid off whatever the balance was.

I have some negatives on my credit report (before they were paid off) but they are now PIF.

What Should I do next.

I’ve learned my lesson.

Please help.

Nancy (more…)

November 5, 2007

Let’s Get This Credit Score Started

Soapbox DerbyI tried to get a conventional 80/20 fixed rate 30 yr. term  and they said they ran my credit and I have NO CREDIT SCORE! 

I do have a small (under $500) collection and maybe a small hospital bill or two. 

I cant get credit because I dont have a credit score? 

what should i do to get a credit score?

Frank (more…)

September 6, 2007

The Secured Solution

What do I do??? 

About 3 years ago, my husband and I decided that we wanted to fix our credit report, and logically, at tax-return time we paid off all accounts that were in collections. 

We thought that this would help us, but our credit report seems to have stayed stagnant. 

We got a mortagage since (in 2006) at a decent rate, but only after much shopping (we wanted fixed rate). The mortgage isn’t even helping our FICO. 

All of our accounts that we paid off state Charge off in current status, and Paid charge-off in comments. 

We currently have NO credit cards, no auto loans, and we pay our student loans on time.  We recently tried to get a credit card (hoping to raise our FICO), but were denied. 

What can we do to raise our credit score?  How can we get the creidt that we need to get in order to raise our FICO so that we can get credit?

Pam (more…)

August 12, 2007

Add Credit After Bankruptcy

my bankruptcy has been discharged and all creditors paid…what will I be able to buy on time that will be reported to raise my credit score?  I would really like to buy a small aluminum fishing boat….any suggestions??

Bryon (more…)

July 27, 2007

Credit Repair Hodgepodge

Hi there!  I am interested in posting a question for response.  I don’t know if I am just supposed to write the question or wait for approval to post.  So, I will just ask here!  Sorry, if it is in the wrong spot.  I actually have a few issues that I am totally confused about so I will mention each.  Any help will be greatly appreciated!

I have recently had some money come available to pay off some looming old debt that is continuing to ruin my credit.  I have read through many of the blogs and had so many questions answered!  One major issue I have is whether or not duplicate entries are hurting my score.  For example:  I had 3 credit cards with capital one many years ago.  They were all in good standing and I ended up consolidating them.  I lost my job and ended up getting slaughtered of course with the debt and although I have paid portions of the capital one debt (they separated it out as all bad debts on my credit report). They have charged off everything and I get the random horrible collectors that harass me.  Anyway, it is showing up like 5 times on my credit report and then 3 separate collection agencies all over the same issue.  Is there anyway to get it consolidated into just the one account prior to me paying them money?

Next up, I have a ton of student loans, none of which I ever recall being delinquent as I have been in school nearly non-stop for 10 years.  Yet, they are showing up as 120 day lates clear back in 2005.  Not to mention, there is about a billion separate entries (20) and of course they are ALL saying the 120 day late.  I have since graduated and had them all consolidated into one payment that is current.  Can I get rid of the other million entries?  

Last question…I promise…I was married 3 years ago to a person with perfect credit and I have done everything in my power to not let my credit hurt his.  I am trying to rebuild my credit as quickly as possible and have no revolving accounts or trade accounts.  We have been living off of his credit.  I am going to do as I read in the blog and get a couple secured cards. But, I was told recently that I should get added to a couple of my husbands trade accounts that have a long history of perfect pays as it will boost my score…is that correct.  I DO NOT want to harm his credit.  I haven’t even reported to any CRA that I was married out of fear that it would somehow hurt his credit.  Any advice would be revered!

Thanks-  Sarah (more…)

June 11, 2007

Building Credit References

Hi! I love the site – I’m learning a lot. I have a quick question: I looking to improve my 550 over the course of the next 1-2 years. I have a lot of old (and some bad) items on my report, and I don’t have any recent items. I just got an apartment, electricity, water & a cell phone in my name. Will any of these count as recent tradelines reported to the bureaus? If not is there a way to get these  payments reported to the credit bureaus? Thanks in advance!

Kisha (more…)

June 9, 2007

Save & Settle

My credit is at least pretty bad, though I don’t know any actual scores. I have two charge offs, eight items in collections, and a state tax lien against me, and pretty much nothing positive for me.

At the moment, I cannot afford to do anything with the charge offs, and about half of the collections accounts are more than I can pay in the near future, but the other half are small enough that I can pay them off in the next couple of months. If I do a pay for delete (or whatever the exact term is … I’m new at this) will this probably cause at least some halfway decent improvements?

Any recommondations for finding some secured credit cards that won’t cost a fortun in fees, so I can start doing some building on the other side of things?

And any advice for trying to reduce the burden of a state tax lien that was originally only for about $50, but with penalties has become more like $1800?

I have been almost perfect at avoiding anything to make my credit -worse- for almost three years (getting responsible), so now I’d like to start getting some improvements without waiting another four or five years.

John (more…)

May 7, 2007

Help me… help you. Help me, help you.

All of your Credit Repair, Mortgage, & Stump the Experts (although ‘experts’ is debatable) are in the HELP CENTER.

Read, learn, write, mail, negotiate, write, mail and Raise Your Credit Score!

February 28, 2007

Can I Buy My First Home In Six Months?

I am a looking to purchase my first home in the next 6 biggest issue is recent delinquencies on my credit report and lots of little open lines of credit. I have already closed everything on my credit increase my score from 496-600? Can it be done in 6 months time??

Tanisha (more…)

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