I have got a poor credit status.am i going to live with this forever?

Question

i am more in control of my finance now and i have tried to make it better-to no avail.

Answer 1

No, just file bankruptsy after ten years.  But, the bad thing is you can't do what you usual do until the end of a couple months.

Answer 2

No.  Just start making all your payments on time and keep your utilization of your credit below 30%. i.e. credit card has 1000 limit keep balance below 300$.  Also you might want to get a copy of all your credit reports at annualcreditreport.com and start disputing some of those neg. marks to the credit bureaus.  I just did it and had a bunch of neg. removed.  Score went up 75 point.  I used a method posted at this forum http://creditcardwarehouse.ecreditdirect...  Most people tell you that you can't get neg correct information of you credit reports.  This is a complete lie.  Use that method above.  The success rate for getting some of the negs. removed is around 80%.

Answer 3

NO, you will not live with it forever.  Only time and proper credit habits will increase your credit worthiness.

There are millions who have at one time or another gotten into trouble but they stuck it out and paid off what they could and lived by a budget.

Here are some links on how to improve your credit and what you should know about credit (and unlike that other poster) this information is FREE

http://www.ftc.gov/bcp/edu/pubs/consumer...

Building a better credit report.

http://www.ftc.gov/gettingcredit/

What you need to know about your credit.

http://www.ftc.gov/bcp/conline/pubs/cred...

Credit and your consumer rights.

http://pueblo.gsa.gov/cic_text/money/cre...

All about FICO scoring.

Thanks TED, great research work. Kudos to you.

Hope this answers your question.

Answer 4

Bad credit stays with you for 7-10 years.

If you have collection accounts pay them off and if you can't pay them off at least contact them and offer to buy them off. Offer 50 cents on the dollar.

Make sure you make ALL payments on time for the next 2 years and keeping your job for more than 2 years is very helpful.

Answer 5

OK.  I've done research on Ms Getoutofdebt.

She is not a company.  She uses a free hotmail address. The link she supplied puts you on the home page of what appears to be a multi-level marketing company.  The number after the slash gets you to the same place as leaving it off.  It just gives her credit for driving traffic to the site.