Five Ways To Improve Your FICO Credit Score, Get Lower California Mortgage Rate.
Over 30 million people in the U.S.A. have credit scores low enough (less than 620) to make shopping for low mortgage loan rates very difficult at best.
The major credit reporting agencies use a slightly different system to arrive at a credit score. The best known is called the FICO score, developed by Fair Isaac and Company (FICO).
A FICO credit score can range from 300 to 800. Most borrowers fall into the 600-800 credit score range.
A high FICO score is your reward for paying bills on time. This is one of the most important factors that determine your California home mortgage loan rate
If you’ve had a few credit “bumps in the road” recently, and you’re asking yourself, “How can I improve my FICO credit score”? Here are 5 ways to boost your FICO credit score.
Paying your bills on time is the first step in improving your FICO credit score. Late payments can have a big negative impact on your FICO score, 30 days or more late on one account can lower your FICO score 50 points or more.
If you don’t like writing checks, go online and automate your bill paying.
Don’t max out your credit cards. The smaller balance gives you a wider difference between your balance and your credit limit.
Also, if you are planning to purchase a new car or other major item, wait until you get that low mortgage loan rate.
If you are sincerely interested in improving your FICO credit score, bankruptcy MUST be avoided! Bankruptcy is more negative than late payments or collection accounts.
Get credit counseling if you have too much debt and begin to fall behind, or can’t see a way out.
Keep old paid off accounts in an open status. If you close an account, it won’t help your FICO score but it could lower your credit score.
If you close an old account it could make you look like a “rookie” in the credit world. A factor in obtaining credit is how long you’ve had credit.
If your FICO credit scores are over 620, but you want to raise it, obtain a copy of your credit report and request that the credit bureau remove any errors.
About GoldMedalMortgage.com
GoldMedalMortgage.com provides a variety of mortgage solutions including first time home buyer home improvement loans, home equity loans, and debt consolidation loans through their partners.
For more information about California home mortgage loan rates or to improve FICO credit score please call 866 398 4664 or go to http://www.goldmedalmortgage.com
Full service home mortgage loan company. Products include refinance, home improvement, debt consolidation, and revers mortgages.
ClickHereForMore.info – Watch the rest of the credit repair report video. Learn how to improve your credit score. Kick ass advice by free credit score insider. Video Rating: 5 / 5
Question by Teresa W: 660+ credit score to partner in real estate transactions in atlanta ga?
We have a team of contractors, appraisers, loan officers, attorneys. We just need someone to be our credit source.
Best answer:
Answer by chuckg1544 I work for a direct lender that lends to investors looking to purchase rehab and flip or refi and keep to cash flow investment properties. Please feel free to call 1-877-734-2211 ext. 317 My name is Chuck.
Credit Score Rating Scale and Chart – Where Do You Fit? – Principles With Your Financial Report
Credit Score Rating Scale and Chart
Your credit history is a very important document that creditors, insurance companies, utility companies, cell phone companies, landlords, associations, and employers request and review in order to determine your credibility. Creditors look at your credit history and your Fair Isaac Corporation FICO score in order to determine the likelihood of your ability to make future payments. Your past payment history, score, and number of obligations (credit threads) are good determinants of your future ability to fulfill new agreements. It is considered the report card of your financial life. In the associations or employer’s situation, they want to determine your integrity, accountability, and stability. When you complete an application for a loan, credit card, insurance, employment or association approval, they will be analyzing your credit history and more importantly, your score.
How is your credit score? 0-600 Poor, 601-659 Fair, 669-699 Good, 700-758 Great, 760+ Excellent, or 800 + elite in the 800 club? Find out for Free….
Now that your aware of how important your financial situation is to your future ability to obtain a loan, insurance, utilities, cell phone, housing, and employment, it is essential to become educated on your credit score and where you are within the credit rating scale. The credit score rating scale ranges from 300 – 850. Fair Isaac’s has reported that approximately 5% of the general population has a credit score below 550 and roughly only 10% of general population have a score rating above 800. It is important to be properly educated whether your current score is over 700 in good standing or under 660 and in need of repair. Below is a chart to display the categories and there description.
Credit Score Rating Chart Score Description 760 – 849 Excellent score. Able to obtain the most favorable terms. 700 – 759 Great score. Able to obtain favorable terms. 660 – 699 Good score. Able to obtain good terms. 620 – 659 Fair score. Able to obtain approval at moderate rates. 580 – 619 Poor score. Able to obtain approval with high interest rates. 500 – 579 Undesirable score. Uncertain if approval will be granted.
Do not worry as there are options available. The rate will usually be the highest possible rate a creditor can charge.
How does your Score match up to the scale?
The next question is usually, “How is my credit score determined and how do I obtain my score? This is the first step, asking questions and doing research.
The simple answer is that creditors, such as banks, lenders, and credit card companies are always in communication with the credit reporting agencies. If you pay your creditors on time, they will report your accounts as current and in good standing. However, if you are late on payments or even miss a payment, they will report delinquent and negative comments. This is the strongest determinant of your score. Nevertheless, make an effort to pay your bills on time!
Your score is not fixed, it will go up and down depending on your actions. Your credit rating can vary 20, 40 or even more depending on your financing activities and creditor reporting. The fundamental principle is to continue paying your bills on time in order to improve your scores within the credit rating scale.
If you do not know what your credit is by now and have not been monitoring it for safety and security, you can order it through the three major credit bureaus in the United States. Your report can be obtained for free once a year every year or if you have been denied credit, employment, insurance, housing, public benefits, or employment based upon consumer credit report. There are online websites where you can order all 3 reports at once to easily compare, analyze, and spot errors that may possible be hurting your credit score. 3 in 1 report is a must so you know what all reporting agencies have been provided.
By knowing and monitoring your consumer credit report, you have accomplished the first step in improving your score. Always keep in mind that maintaining a good score means a lot in today’s society. By having a good score, you will increase your chances of obtaining loans and be able to capitalize on future financial opportunities that may cross your path in life. Be proactive and educate yourself on how to improve your score through articles and online research.
Explore through our articles to broaden your knowledge on credit. eCredit College has many informative articles on topics such as Credit 101, Credit Bureaus 101, applying for cards, comparing cards, credit repair, credit rating scale, understanding the importance of your credit, student cards, who has access to your credit, avoiding late fees, and how to obtain credit whether you have good credit, bad, or no credit. Be sure to visit daily as we continue to provide the latest and most comprehensive information on every subject matter related to credit.
Question by dr31117: What credit card can i get with 650 credit score?
So i finally got my credit up to a 650 i figure now may be a good time to take a look at what credit cards are out there that will allow me to build my score even higher. ANy ideas on what credit cards are the best to look at with a credit score of 650?
Best answer:
Answer by Age of Reason A secured credit card through your bank
Freedom Debt Relief Offers Answers, Clarity for Those Struggling With Debt
As the nation’s economy has declined, Americans are feeling the pinch, with an average of more than ,000 in debt per person among those who have a credit profile. Freedom Debt Relief co-founder and co-CEO Brad Stroh reminds those who are facing serious debt hardship that they do have options when it comes to getting help.
“If you have trouble paying the bills, are receiving calls from collectors, are struggling to pay off bills from a medical episode or an accident, or are starting to believe you might be better off not opening the mail, you are in too deep,” said Stroh, whose company has resolved debts for more than 50,000 clients over the past six years. “It’s time to re-assess — and the good news is, you can get help without resorting to bankruptcy.”
Debt Resolution firms, such as Freedom Debt Relief (FDR), negotiate on the consumer’s behalf with creditors. They settle on a lower amount that typically can reduce a consumer’s principal balance due — rather than just interest rates — and lower total payments by 40 percent to 60 percent with a repayment term of two or three years. Credit scores may be negatively impacted, but responsible credit use after completing a debt resolution program can rebuild credit relatively quickly.
Debt Consolidation rolls multiple debts into one loan or into a mortgage. It may or may not bring lower payments. Borrowers using a mortgage to consolidate put their homes at risk and might run up just as much credit card debt within a few years. Those considering debt consolidation must make sure they can afford the resulting payment. Those considering using a mortgage for consolidation must make sure that they are not putting their homes at risk of foreclosure.
Credit Counseling provides lower interest rates, with a repayment term of five to 10 years. Total debt principal is not reduced. Many credit counseling firms operate with creditor funding, so the debt management plans created for consumers may be more in line with interests of the creditors. In addition, credit profiles can prevent access to credit while a consumer is in a program, as many lenders view debt management plans similarly to bankruptcy.
Bankruptcy is a less-viable option for most consumers today, following the reforms of several years ago. Those changes included the institution of a “means test” to determine eligibility for Chapter 7 protection, which eliminates most consumer debt. Those whom the law deems to have enough income (as defined by each state’s median household income) to re¬pay at least a portion of their debt cannot obtain Chapter 7 protection. Chapter 13 filings – which re¬quire consumers to repay debt on a repayment plan – are still available, but generally offer less-favorable terms than found in debt resolution, and result in a significant black mark on a credit report.
Questions to ask a debt partner People who are looking for a trustworthy organization to help win the battle against debt can ask Stroh’s seven questions to choose a reputable firm:
1. Compensation: Does the company get any form of consideration or compensation from the creditors themselves? Some firms receive funding in the form of what are called “fair share” payments from creditors. The payments are incentives to get consumers into debt management plans (DMPs), and could lead to a conflict of interest between creditors’ and consumers’ interests.
2. Professional memberships: Is the company a member of its industry associations, or does it hold itself to a quality standard verifiable by third-party accreditation? A “yes” answer means the company is willing to have its practices scrutinized and to respond to consumer complaints.
3. Individualization: Does the company provide actual consultations and provide advice/education to consumers free of charge? Or is the company simply directing every consumer into a debt management plan?
4. Free education: Does the company provide educational material, including budgeting and financial advice, free of charge? Many firms consider educational material an additional fee source, not a benefit to their clients.
5. Background: What is the background of the company’s management team? Look for good, relevant education and experience — not a team that jumps from opportunity to opportunity to make its fortunes.
6. History: How long has the company been in business?
7. Success: What are the company’s dropout and success rates? Request these statistics. Leading credit card companies report that many credit-counseling firms have dropout rates as high as 90 percent.
About Freedom Financial Network (www.freedomdebtrelief.com)
Based in San Mateo, Calif., Freedom Financial Network, LLC (www.freedomfinancialnetwork.com) provides consumer debt resolution services through its Freedom Debt Relief and Freedom Tax Relief divisions. The company works for the consumer, negotiating with creditors to lower principal balances due that can often result in savings of up to half the amount owed.
Freedom Debt Relief (FDR) has served more than 50,000 clients since 2002 and currently has 28,000 clients working with the company to resolve their debt challenges. In the past month alone, the company resolved more than 3,500 cases for its clients, representing accounts worth more than million. On average, FDR settles cases on behalf of its clients for 47 percent of the outstanding balance — a savings of 53 percent.
Company co-founders and co-CEOs Andrew Housser and Brad Stroh were named to the Silicon Valley/San Jose Business Journal’s “40 Under 40″ list in 2008, and are recipients of the Northern California Ernst & Young 2008 Entrepreneur of the Year Award. The company, with 475 employees, was voted one of the best places to work in both the San Francisco Bay Area and in Phoenix, home of a satellite office.
Mbhat_fdr has more than 5 years experience as a financial adviser at freedomdebtrelief.com, his key areas are loan consolidation, debt relief, mortgages etc.
www.FreedomDebtRelief.com In this KRON4 TV interview Freedom Debt Relief co-CEO Brad Stroh, discusses the differences between various debt solution options. Topics covered in this interview include: •How to reduce minimum monthly payments •How credit card principles can be reduced through negotiated settlements •The differences between credit counseling and debt settlement •A case study of showing how Freedom Debt Relief’s program works. KRON4-TVs Homepage: www.kron.com To see the Freedom Debt Relief client case study discussed in the interview visit: www.freedomdebtrelief.com For Freedom Debt Relief reviews visit: www.freedomdebtrelief.com Video Rating: 5 / 5
Question by Still*Perfect: what are prospective employers looking at on my credit report?
I also need to know what comes up on a basic background check and an FBI background check. I’ve been applying to jobs and going to interviews which I seem to ace, then I don’t get the job. I understand I lack a college education but I am attending school. I’m at a loss. I’m 28, have bad credit, and I’m trying to get my life on track but how am I expected to make it when no one will give me a chance. It’s hard to repair credit and pay daily expenses when I can’t get a better job.I’m on a strict budget, I’m making sacrifices. Are there any programs for single peolple, with no children, no criminal backgrounds and a somewhat unstable work history? How can a person who partied a little to hard in her early twenties get herself on her feet? Can some one please offer some suggestions?
Best answer:
Answer by kb6jra First, don’t give up. Your past is your past and unfortunately has a way of haunting you for some time.
14 years ago I got a DUI. That dogged me for a long time. Finally a friend told me to quit getting so down on myself and take pride in who I am now, not then. It’s sound advice.
Your credit report will tell an employer if you’re a flake or not. If your recent activity is positive, it’s a sign that you follow through, if you have a lot of negative current crap on it, it’s a bad sign. Be upfront with the interviewer if they ask for a credit report. Make sure they understand you’re getting on your feet and are resolved to be a great employee.
An unstable work history will also not be in your favor. A person that lists way too many jobs on an application is not “stable” or seemingly employable for long stretches. If you seem to be flaky or flighty an employer will not invest the time and money to train you for a job you intend to leave in short order. Show some longevity, some roots. This give an employer the feeling of permanence.
Question by shortcake: How exactly could i repair bad credit which i didn’t make but can’t dispute?
I’m on active duty and I came home after my 15 month tour in Iraq thinking everything was just as I left them. I did not have a credit card nor did I have debts when I left. I met a girl and after a year of dating we decided to settle down. My fiancée then suggested that it would be nice to start building our credit so I applied for a credit card which got denied because of my extremely low credit score. When we checked my credit report, I have 4 derogatory accounts which were definitely not mine. I called home and found out that my dad used my name and social security number while I was away and failed to pay off debts. So I can’t dispute these accounts for fear that my dad would get in trouble.
I tried to repair my credit before the wedding without knowing what to do. So I called Allied Interstate (one of the CA) and they told me to pay off the account for a lower amount. So I did and got a receipt for it. Now that account says: Legally paid in full for less than the full balance and Election of remedy – reported by subscriber. Obviously, this didn’t help my credit score. I am still in the lower 500s.
Now that we’re married, I tried sending a goodwill letter to Allied Interstate and a PFD letter to the two other CA. These are letters we got off the net. But the 15 business day grace period is about to be over and there has still been no reply to any of these letters . The last derogatory account is from Weise Properties and it does not have a dollar value on it.
I’m really sorry for this extremely long post but I feel really lost and I don’t know where to start. My wife has no credit yet and I just wanted to fix everything for her before I get deployed again. She’s having a tough time adjusting to a new country as it is.
What should we do? Thank you very much for your help.
Best answer:
Answer by emmabugg wake up call…what your dad did to you was FRAUD. it is illegal and you should press charges against him and sue him for damages. you shouldn’t have to live with wrecked credit because of your loser father.
because if you do bring charges against him they will remove the bad accounts and it will be like it never happened.
Know better? Leave your own answer in the comments!
Question by Dr. Ernest J Folk: Are you in favor of lowering the standards of credit scores to help the economy?
With the economy down and it impossible to get credit. Do you think it is a good idea to lower the credit standards so that it is easier to get credit. For example. Those that currently have high credit scores should be able to pay no interest on any loans. And those that have fair credit scores should enjoy the low interest rates of the people that had excellent credit. And for those that have poor credit, they should have decent rates, not sky high rates. In other words if they get rid of high interest on loans, do you think the economy will improve?
Debt Relief Counseling Can Wipe Out Your Credit Card Debt Fast
Debt relief counseling provides you programs and services that can help you manage, reduce and eliminate large amount of debts. Many debtors with excessive credit card debt pay-off their unsecured debt in about 2-4 years. Also, the monthly payment is immediately lowered under certain programs.
The good thing about this debt relief service is its availability and accessibility. So you can sign up anytime you want to know if you are qualified to undergo the program.
Debt relief counseling is a new service and program that can greatly help you solve your financial situation. Through this kind of professional help, you are given the chance to resolve your money problems without filing for bankruptcy or go through debt consolidation.
Debt relief counseling is available through agencies and companies that will help you learn more about your finances, and how to deal with your debts. They offer advice, evaluation, suggestions and solutions to your financial difficulties. They will help you with financial planning so you can pay off your debts. There is no reason to continue making minimum payments.
Most of these agencies and companies offer free initial counseling concerning options you may choose in order to ease your financial troubles. Whether these debts were accumulated through various loans, reducing it is always possible. After assessing your financial status, they will provide you with the most feasible solution to your financial difficulty. Different agencies and companies may offer different approach as to which financial solution is best for you. So it is also wise to study their suggestions.
Some of these firms will not only help you in financial counseling. They will also provide you no cost guidance on consolidation and other options you may have. So before you attempt to deal with your already complicated and serious financial difficulty, try to seek the help of competent, knowledgeable and experienced debt settlement counselors.
Though some of these offices are non-profit organizations, they still will charge you fee for their expertise. Some may require payment in the form of percentage on the settlement negotiated or interest on a debt consolidation loan. The first debt relief counseling is usually free, but if you decide to continue their service, a fee is collected. There are also some companies that may require an up-front fee for comprehensive financial analysis and counseling if you prefer to enroll in a debt elimination program.
I’m the CEO of Debt Free Solutions, a debt consulting firm located in Long Beach, CA. I have established business in October, 2000. I’m dedicated to assisting Americans nationwide to eliminate excessive credit card and other unsecured debt.
I expose how credit card companies trap Americans into suffering in debt- often for life. I have developed a deep-rooted passion for helping debtors fight back and escape the credit card trap!
I utilize my expertise to analyze my client’s financial situation. Based on each debtor’s unique needs, various programs and strategies are implemented to aid them in dissolving their debt in the quickest, safest, and most cost-effective method possible. I structure my programs to drastically minimize the risks that are inevitable with all debt elimination programs.
I offer our clients much more than a debt settlement company. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.
I, on the other hand, provide free services to significantly minimize the risks that are involved in negotiating with your creditors.
Sincerely,
Joseph Hernandez CEO Debt Free Solutions <a rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link/4231435']);” href=”http://debtfreesolutions.mobi”>www.debtfreesolutions.mobi </a> (800) 668-8090
It’s critical that you choose the <a target=”_new” rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link/4231435']);” href=”http://nomoredebt.debtfreesolutions.mobi/includes/get-out-of-debt.php”> get out of debt. </a> You need to weigh the pros and cons of each program to determine which program is best. Choosing the wrong program may cause a financial disaster!
Question by Adam P: Does having bad credit disqualify one from becoming an Army officer?
If you have fallen behind on your credit card payments (due to unemployment and nothing more), are you disqualified from becoming an Army officer? Even if your debts are due to necessities like gas, groceries, auto repair and medical care, and not things like gambling, big ticket items, alcohol, tobacco, etc.?
What is my credit score is an important question to get answered for financial reasons. To know What is my credit score you will have to first understand What is a credit score. The credit score which is also known as FICO score is a concept created by Fair Isaac Corporation. Fico score is proprietary of Fair Isaac Corporation and hence the formula used to calculate the Fico score is under the wraps.
Credit score is a three digit number which defines an individual’s credit worthiness. Higher the credit score better is an individual’s credit worthiness and hence lower is the risk of lending to the individual.
From Bankers to employers many use credit score as a base to determine the financial risk. Hence it is very important to know how much is the credit score and try to improve the credit score as much as possible, though not everyone lends based on credit score.
Good credit score ranges anywhere from 825 to 650. Low credit score is from 575 to 650. Anything below 575 is considered as Bad credit score. For someone with a good credit score the rate of interest will be lesser as the risk associated is lesser compared with someone with a bad credit score.
Credit scores are determined based on the following factors.
1. Payment history
Payment history says about your past financial obligations and how quickly you met them. Problems such as bankruptcy will reduce your credit score. If you paid your credits promptly you will get a higher credit score.
2. Current debt
How much you owe contributes to your credit score. This factor considers the present financial position. If you are in debt with a large number of sources then obviously it is going to pull down your credit score significantly.
3. Duration of Credit History
If you are having a good credit history over a long period of time, then you will land with a good credit score. It is similar to someone with longer work experience is preferred over someone with lesser work experience. Having a good credit history over longer time period is important.
4. Number of Credit
If a person has more number of credit cards, then it gives a negative impression about the person’s finance and so it will lower the person’s credit score. Someone with lesser credit sources will be given a higher credit score.
The author of the article has good knowledge in the finance sector. More information about credit score can be found at What Is My Credit Score
Jean Chatzky is correct, you cannot get your FICO score–the score that is used by lenders–for free. However, if you want an approximation of that score, there are a few companies that will provide them for free. But keep in mind, that each free attempt will in fact add an inquiry to your report which has been known to lower your score. See credit score myths below. And all [except MY FICO] are the credit scores developed by the credit bureaus themselves, Experian, TransUnion, and Equifax, and are not your actual FICO scores. Only the FICO score from myfico.com is used by lenders to determine your credit worthiness. CreditKarma.com: Gives you your TransUnion score. But it is Advertising-supported. E-Loan: Experian score. If you visit their website, be sure to scroll down to “One-Time Credit Snapshots” and “Free Credit Score (Credit Score Only)” Prosper: Experian score. Feel free to ask any credit related questions in the comments section of this video. I’ll be happy to answer them if I can. ALSO, PLEASE FREEZE YOUR CREDIT REPORTS!!!!!! and please go to www.optoutprescreen.com to opt out of all offers of credit and insurance for 5 years. Don’t bother with the permanent opt-out. Credit score myths: Myth: You have only one credit score. You actually have three scores, one from each of the three bureaus (Experian, TransUnion, and Equifax). They use the same “equation” from Fair Isaac Corporation but they each collect their own data, they each have their own slightly … Video Rating: 5 / 5
Debt Settlement Info – How Federal Laws Are Making Debt Settlements Popular
Debt settlement info can be proved beneficial for you and your business. You can get out of the loans if you give attention on debt settlement info. Debt has become a major issue for the citizens of America due to recession. Due to low income many people are under the burden of huge loans. When people have no money to pay their creditors and are disturbed due to harassing phone calls of the lenders then they think to go for bankruptcy. It is true that this legal option brings quick recovery and the government has given some protection to the bankrupt people but its long run effects are worst. Due to insolvency you will be unable to get more loans from the banks and other financial institutions because this option will hit your credit score. If you are under the burden of unsecured loans and you really want to eliminate your problems then you should avoid bankruptcy and think to get debt relief info. This will bring benefits for you and your business. In this article you will read that how federal laws are making debt settlement popular.
The government has injected various relief options in the society to give relief to the debt suffering people. You should get more and more information about the new government’s laws to eliminate your problems of paying back the alone amount. There is no doubt that the debt settlement program has become more popular after the federal government’s action against loans. Go online and see how many people are using this method after the establishment of the new laws.
Federal laws show that the debt relief program is the best alternative to filing bankruptcy. This is why the ratio of bankrupt people is decreasing and the ratio of such people who are adopting debt settlement program is increasing day by day. Due to this bad have been started to settle through the debt settlement program after new federal laws.
If you are under the burden and stress of unsecured loans then you should opt for the debt relief program as early as possible. If you opt for this method then you can get up to 50% discount in your outstanding balance.
If you have over ,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals.
www.CreditCardDebtNegotiations.com is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.
Question by cuddly_lez85: Isi t just me or is the average credit score in the US climbing?
I remember the average credit score being 645.
Then it was 675.
Now it’s 692.
I bet by next spring, it’s gonna pass my credit score.
Best answer:
Answer by I hate Hillary Clinton Yes, people are doing their best now to keep their credit score higher these days. The scare of higher interest rates are causing people to have and maintain better credit.
Know better? Leave your own answer in the comments!
Question by WTF1029: how do i improve my credit score?
i would like to know the quickest way to improve a credit score. mine has been around 590 for about 4 years now. i had issues before this with credit, but it is good now. i have a mortgage, 2 cars, 3 credit cards, and a personal loan with no late payments. the credit cards are only about 25% charged on and the car and personal loan is almost paid off. i have a low income to debt ratio, about 35%. any answers would be appreciated.
Best answer:
Answer by HoosierMommy06 Pay off your most recent debt first and that should bring your score up.
Then, check out daveramsey.com — he’s got a lot of good financial tips.
Question by ericfromsouthpark: How long after repairing bad credit could you be eligible for a new loan for school/training?
I have atrocious credit. 2 defaults, various revolving accounts, and numerous collections that have made their way onto the report. I also don’t have a co-sign. For the better part of the last 3 years I had recurring, misdiagnosed conditions that prevented me from working steady.
I want to fly helicopters, but the cost of school is so that it would be faster to pay off debt and get a loan to complete training (leg > commercial pilot), than it would be to save money and pay out of pocket. It’s also maybe the right thing to do. I know items stay on the report for ~7 years, but, even with bad history, if you don’t actually owe anyone anymore I would have a better chance I would assume.
Even if it’s not helicopters, I need to finish school. I have 70 hours and lack 8hours for an associates in aviation science (air traffic control), but I haven’t been able to get a job in the field. So instead of “finishing” school I should say I need to go back and get some other type of training.
one or two classes? where did you study? At Thomas edison state 8 hours is 8 classes, roughly $ 1100 just to register.
I did know about the fafsa already, I couldn’t submit it because of tax information and vet status problems. Working to fix it.
Best answer:
Answer by niceperson44 You cannot repair bad credit!
You can only wait seven years for the bad credit to
get erased from your credit report.
The idea of repairing bad credit is making me laugh!
If you only need eight more hours for an associates, that is only one or two classes! Why stop when you are almost done?
You sound a little disoriented.
