Comments on: How To Build Good Credit and Clean Up Bad Credit

By: Brandi W

Brandi W — Mon, 08 Mar 2010 01:20:40 +0000

Hello, I dont have “bad credit” but i would like to see it improve, so i may buy a house in the next year. i currently just paid off all (3) of my credit card bills (never late, always paid more than min) but the balance came to be right about $2500-$3000. how long will it take to be on my credit report, and how long much will my score go up? thanks for any advice.

Brandi W

By: Corey Thornton

Corey Thornton — Sat, 06 Mar 2010 00:23:17 +0000

i need help with rebuilding my credit.

By: VitaminA

VitaminA — Thu, 25 Feb 2010 00:28:09 +0000

This doesn’t say anything that helps me understand how to build up the credit after I’ve paid folks off.

I have paid 95% of my debts, have no credit cards, no auto loans and haven’t even applied for the past year or so. I’ve got less than $5K in debt, and that’s from a current student loan. I’m still in school and it’s not due to be paid for a couple years. So it’s not in negative standing.

What I think is a load of crap is that I’ve paid folks off, have zero balances on every account, have whittlled it down to 4 accounts, 2 of which are current and in good standing, and the two remaining “negative” items are collection accounts with zero balances that were left over from the ones I paid off. I don’t owe them anything. There’s nothing to negotiate with them. I can’t write a cease and desist letter, because they’re not collecting – as I don’t owe anything.

I feel good that I don’t have a ton of actual debt. But I can’t get new credit because, even with so few accounts and little debt, and no more negative balances, my score is still in the toilet. It hasn’t budged much since I started this ordeal 5 years ago…I had 10 negative accounts and managed to pay every one of them or dispute those that clearly weren’t mine.

Even with that effort to put things right, I STILL have a credit score hovering at 550. This is a load of crap. What’s the incentive to pay folks off, if you’re only going to have a negative credit score anyway? Even if you pay them off, they’ll still report you to the bureaus. And even if they they don’t report anymore, it will put you back in a place of having too little credit, even if you have student loans or other accounts in good standing.

What’s the use? This is a load of bull. There’s no way to fix it. I did my part. The creditors and credit bureaus aren’t doing theirs. I wish I could report them and give them a negative rating so they can’t get bailed out by the government or other banks anymore.

By: Hilary

Hilary — Thu, 21 Jan 2010 14:53:59 +0000

I am separated from my husband and we have a mortgage in both our names. He stopped paying it and I would never be able to afford to pay the payments; therefore we are now 60 days late on the house. I am sure it will be foreclosed on and my credit score is already impacted (and terrible, I might add).

How can I rebuild after that? What happens now?

By: Laurie

Laurie — Sun, 17 Jan 2010 03:14:30 +0000

I just got my credit report and I’m not sure how to read them. I was thinking about consolidating all my debt into one and pay that off but I was told that will not help my credit. I got into debt because of a loss of job and trying to find a job now a days but now that I finally got back on my feet I’m about 20 grand in debt and feel like I’m being pulled under. Should I pay one at a time little by little or would consolidating be my best bet?

By: Sandra

Sandra — Thu, 14 Jan 2010 01:39:23 +0000

Hello,

I have 2 debts in collection right now.
I intend to pay them in the next couple months.
My question is, after those are paid off, how can I repair my credit?
I have good credit so far, and all my loans are being paid. One of my cars will be paid off in March, will it make my credit better even though I have 2 bills in collection?

Please advise.

Thanks
Sandra

By: Tammy

Tammy — Fri, 08 Jan 2010 21:12:06 +0000

I am trying to increase my credit score and establish good credit. I have reviewed reports form all three credit reporting agencies. After reviewing my reports, I settled all of my debts. How long should I wait after paying all of my debts to dispute derogatory accounts that have not been accurately updated?

By: Brandi

Brandi — Fri, 08 Jan 2010 19:52:25 +0000

i have a large amount of debt that state they will fall of after this year however i still have several major items that will show on my credit report such as a school loan that i had defaulted on (it was sent to another office and have been paying on for several months) a judgment that i will be paying off immediately and several charge off credit cards several of which i have an agreement with and will be paid off this year once those are paid off i will begin to pay on the remaining few however i dont know how these will affect me will they still reflect badly on me once paid since the credit cards were charged off, once the the judgement is paid in full and how will the school loan reflect. also how can i improve my credit score i am wanting to buy a home possibly next year but i really need to get my credit score up and understand how things will reflect and what i need to do.

By: Kaye Swain

Kaye Swain — Fri, 08 Jan 2010 04:29:43 +0000

Thanks for some good tips. It’s always vital to keep your credit clear for so many reasons, including being able to buy a new home when it’s time to move.

By: keri

keri — Tue, 29 Dec 2009 02:56:45 +0000

I have very bad credit, i have two repos and a good bit of accounts in collections. I’ve paid a few off and in the next few months will agree on a balance on the repos and pay them off. I don’t want to make payments, I just want to be done with these accounts. I would like to purchase a house in the near future and get my life on track. Is this the right way to go? HELP!!