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I have bad credit, lol,......I have like a small credit card from a few years ago, I have 6 months renters and a 7000 thousand dollar tool credit...Im screwed, I got a score of under 450......Im trying to build my credit back up...I cant even get a credit card, anyone know how....how should I try to build my credit up starting off, and how do I get a credit card....
ABK
Im buying my home and the loan company says I need a score of 600 to beable to get
the loan for my home.......urrgggggggg
Let me make sure I understand, you had a credit card that was about 1/2 the size of a regular credit card, you have rental property and only have your tenants sign a 6 mo lease, and you have a line of credit with a tool company but haven't used the credit line? Correct ?
1. Pay off existing debt.
2. Borrow from someone (probably a secondary lender with a co-signer) and don't screw that up. Get a secured credit card or anything that will put your credit on the board.
3. The bad stuff will start to come off your credit report (SLOWLY).
4. The good stuff will continue to be posted on your credit report.
Credit can only start to rebuild after you have paid off your existing debt.
I have learned that it takes about 6 years to rebuild your credit and 6 months (or less) to ruin it.
how do I get a secured credit card.........
if I got lets say 10000.00 Ten Thousand dollars....its gonna take me years to fix that
credit......what about a credit dept consolidator, making payments everymonth, will
that help any, and a loan, how do I get a loan to pay off my debt...
Secured card, put up some collateral so if you dont pay as agreed, the bank takes your collateral. As to borrowing more money to pay off past due debt, should you find such a loan, I am sure the interest rate but be drastically high. Get a 2nd, 3rd job, pay off the debts, dont borrow more money to pay off prior debts, put some cash aside for emergencies, dont make the same mistakes again, think twice when borrowing.
what can you use as collateral-and i understand about not borrowing money to pay off debt....doesnt sound right....Im putting together two other incomes so in total Ill have about three different incomes.....I guess I need to put one or both up and pay it all off,
but damn thats alot of money gone, and damn if I need it done......
Im thinking about getting a loan for the holidays, like 500 maybe, I guess i shouldnt do that yet either....
A debt counselor will help you negotiate lowered interest rates so you can pay off your debt sooner, but like aqua said, it takes time to rebuild credit.
There are several places to get a secured card, but you have to put up cash (that will be held in a savings account) as security.
I would wait until your lease is up and you are on a month to month lease before you think about buying.
im on a rental plan now with my home, there selling 137,000 for the house....
the house could easily sell for 180,000 after I get the flooring placed and some
outside landscaping....
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