How can I fix my credit , I have BAD CREDIT ! MY SCORE IS 541.How can I get into the 700's?

Okay so I made some bad decision with my credit. I at 18 had three credit cards, totallying at about 4,000 dollars for all. At first it was easy to make the payments but than I got behind because I lost my job and I was a full time student and my school schedule was demanding. Its was hard for me to find a job that would wrok around my school schedule. I also allowed family memebers to get cellphones and department store cards in my name. Now !!! I am in trouble and swimming in credit card debt, and I really want out .

1) Unfortunately there is no quick fix. You need to pay off everything ASAP. Close all accounts that are not your personal ones at once. It will probably take 4-5 years before you see a 700 FICO score, but you need to do everything to stop the bleeding immediately

2) Credit s a pain i have the same score almost. And i was told to get my report at a site like freecreditreport.com and the start looking and calling to make payment arrangements so i can all be paid and each timeyour score will increase

3) You should resign yourself to having bad credit for a while....sorry. Financial train wrecks cannot be fixed quickly. If you have the money, make Pay for Delete agreements with creditors to have the items deleted....

4) Get help from a credit repair company. They can help you get your finances in order and help you clean up your credit report. Personally, I worked with Unified Credit Services (link below) and they did wonders for me. There are other ones out there that can also help you, but becareful, some aren't that great. You can get your score up very quickly working with a good company.

5) I had a similar problem with my elderly mother. Cousins and nieces and nephews had gotten credit cards in her name and credit at furnitures stores, she ended up owing so much money that her near perfect credit was worse than mine - and that's not good. Essentially we had to work with the creditors. Some of them are really jerks; they're pushy and demanding. Other's are nice and are willing to work with you to reach an amicable outcome. Call them. Don't avoid them and wait until it's too late. I have found that your collection accounts get 'sold' to other collection agencies over and over - so that one debt you were concerned about can end up four and five times on your credit report - legally - under different collection agency names! Don't make promises you can't keep either. Be sure that when you make arrangements they are ones you can afford and make each payment on time - more if your budget allows. Keep a personal record of everything you pay, the date and the receipts (money orders are best and you can get them for anywhere around .50 - $1.00.) so if a discrepancies ever arises, you have ammunition to argue your point. Also, be sure to get an agreement in writing with the collection agencies saying they will delete the information from your credit report once paid in full. You didn't get into this mess over night, you won't get out of it over night. It can be done, it will just take time and drive and patience. =)

6) Yeah, I also worked with Unified Credit Services to get my credit cleaned up. I got a second chance, you deserve one too. Be sure your finances are in order so that you don't mess it up again.

7) start adding positive revolving credit to your report while you get the negative things deleted or removed. a catalog card or merchant card will help. you can find them online by googleing catalog card. http://www.sblending.biz/index.php/loans/usecured-line-of-credit/SB-Lending-Credit.html we issue high revolving lines of credit to those that need positive reporting items. you can also use the line of credit to purchase vacations through us. titus@sbledning 866-739-7478

8) try using this service,. http://loans-guru.com/credit-score-repair/ it is free

9) To Repair credit score Your credit score is based mostly on: 1. Length of credit history 2. Payment history. 3. Ratio of credit used to available credit. 4. Number of credit inquiries you authorized. If you cancel your card, you'll be hurting your credit ratio. (#3). You want to deliberately keep your oldest credit card open, even if you never use it. You want to always pay the minimums of each loan on time every month. You want to keep your available credit high, but actually only have balances equalinig 25% or less. You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans. You do these things and your credit score will quickly soar into the 700s. ------------------------------------------------- http://www.bestcreditrates.net

10) I guess you should use credit repair agency, for example this one - http://creditreport.fateback.com They can clean lots of bad stuff from your credit report, inform you which bill you should pay first - and do it much faster than yourself.



Information supplied by Yahoo! Answers.