How can I every get my credit up again?

Question

When I was in college, I didn't really have a care in the world, like most college kids - I racked up some credit card bills..not much...I didn't have insurance and I had to have surgery...so I racked up doctors bills..I only worked part-time...so I could barely afford to live. Basically what I am saying is, now that I can afford to pay my bills - like a year later, will my credit go back up? Now that I am paying my bills on time? How can I get a better credit score?

Answer 1

Totally fixable but you need to be serious about fixing it. Don't bother going to credit doctors or those who claim to work wonders for you. No one is more interested in fixing your credit than you...belive it! I did the same thing in the college era...it's not the end of the world.

1 - If you haven't already get current copies of your credit reports from the 3 major bureaus (Equifax, Experian and Transunion)

2 - Take a photocopy of each and put the originals in a binder

3 - Get a highlighter and highlight any account that is negative (collections, written off, older than 7 yrs, etc...)

4 - Any inactive account that is older than 7 yrs should not be deleted from your report. Download a dispute letter from the credit bureaus website(s) and fill in the details

5 - For collection/overdue items, if they are greater than 7 yrs dispute them as well

6- If there are still valid debts, you need to contact the creditor and negotiate a 'pay for delete' in addition to a payment plan if you cannot pay in full. If they start hounding you send them a 'cease and dessist' letter stating they may only contact you in writing.

7 - Do not apply for any credit while you are doing this or for the next year (ideally 2)

8 - If you currently have any credit card or loan balances, pay them off or at least pay them down to bring them current

9 - If you need a credit card, get a secured card from Capital One for $500 (or more if you can)....use it sparingly for like only $25-50 and pay in full and on time every other month or so to establish good re-payment history.

A little patience and 2-3 months, you'll be on your way.

Answer 2

institutions you have credit with all report your payment habits; if you pay all bills in full and on time, this will be reported... if your recent credit activity is favourable, your rating improves, and as it continues like this, it snowballs... each time you apply for more credit, your rating drops slightly, but then gets even better so long as you again are reliable in paying off the debt.

Answer 3

Yes it will  in addition to making your payments on time . on you credit cards try not to go ever 50% (or pay them down)of your available credit limit. if you have a card that has a $1000.00 limit keep your balance at $500.00 or below. you can also apply for a credit card or department store card and get the highest limit possible but use them very little, Keep the balance low com paired to the the limit.  this will increase your score allot.

Medical collections don't effect you credit that much. this due to the number of errors in the medical billing industry. and lenders will ignore them.

There are many factors that go into credit scores and I have a  allot of knowledge in this area and have many ways to increase your score.

If you have further questions or need help please let me know.

I'm not trying to sell you anything or get you into some program just want to help.

  

Answer 4

Keep paying your bills on time and even better than on time and if possible pay more than the minimum.  If your credit has taken a big hit over this and you need some serious rebuilding....go to the capitolone website and get one of thier credit cards...if you need a secured card it is very easy to get and you don't need to put hardly anything down as in other card companies secured cards.