Credit Debt Management

1 | yellowjeff

March 11th, 2010 at 7:25 am

Wait it out, it goes away in 6 years of so.

2 | Gemma

March 11th, 2010 at 7:58 am

Pay everything off and wait. It wil take time, but it will get better.

3 | cryingtree1979

March 11th, 2010 at 8:06 am

find a phone thats no contract. i messed up my cingular, but i was able to get a phone with a regional company who just needs a flat fee every month for unlimited minutes and texting.

and to reestablish credit, i think you have to make steady, monthly payments. go to a debt consolidator if you have to.

4 | wizjp

March 11th, 2010 at 8:13 am

Try a secured credit card. It sucks, but it’s a small step in the right direction. Also try asking the manager where you bank; they occasionally have some suggestions.

5 | ashalarocks

March 11th, 2010 at 8:24 am

marry someone with good credit! haha other than that you have to wait 6 years

6 | mommyjessp

March 11th, 2010 at 8:34 am

Start by paying off your debt. The more the better. As you do that, your credit score will go up. After you have some or all paid off, reapply for credit cards.

7 | rand a

March 11th, 2010 at 9:31 am

go to school, they give out cards like candy there. They have those silly secured cards, where you give them your credit limit and they let you spend it. My brother has the same problem, he has always paid for everything in cash, including a 200k home, cause he couldnt get a credit card, he doesnt have bad credit, he has none.

8 | mvette78

March 11th, 2010 at 9:38 am

The best way to re-establish credit if everything else fails is to take $1000 to a bank or credit union that reports to all 3 credit bureaus and deposit it into a one year CD. Then borrow $500 against that CD and deposit the $500 in a savings account so that the bank can auto draft the money to pay off the loan in one year. You will make interest on your $1000 and build a credit history at the same time. You should be able to get a credit card with at least a $300 limit by that time and your score will be higher. You can repeat as needed to build more credit. This is a great way to build credit.

9 | deejay30

March 11th, 2010 at 10:16 am

Try applying for a secured credit card to help build good credit. They report to three major credit bureaus each month. You just make sure you pay on time. As your credit gets better, they will increase your limit. They ask for a deposit (since it is secured) and a yearly fee based on your credit score. Take a look…

10 | Sunidaze

March 11th, 2010 at 11:04 am

5 years ago, I had absolutely horrible credit, up to my eyeballs in debt, etc. The only way I could improve that situation was to start trying to get everything paid off or at least down. I totalled a car in ’02 and had a horrible time getting financing for another car and even had to have a co-signer because my credit was so bad. 2 1/2 years later I totalled another car (I’m not the world’s best driver) and was pleased to find out that due to my efforts my credit had improved greatly. The downfall being of course that my mailbox is once again inundated with credit offers.

11 | Smoovy Loco

March 11th, 2010 at 11:17 am

Unfortunately, you cannot build new credit and forget about the old credit. I’m sorry that you’ve been put in this situation, but I do have some simple steps to get you back on track. The easiest way to get credit, first is to develop and establish a banking relationship, although this doesn’t directly build credit it does start a reference point in which creditors can see that you handle your finances responsibly. What can stem from having a checking and savings account with a bank is that you could possibly qualify for a low-balance credit card to start out with if at all a secured credit card. Although you would have to make a deposit to secure a line of credit, the deposit would garner interest meanwhile you’ve proving your credit worthiness. Usually after 6 months to a year, the card can convert to an unsecured status and you can receive your deposit back, with interest. Another thing is to have the bills that you do pay on time reported every month. (PRBC) http://prbc.com/consumers is a reporting agency that you can enroll in to have payments that you make every month reported just like anything else is reported on your traditional credit reports. Items such as rent, utilities, phone, day care, remittances can be reported and compiled into a Bill Payment Score that can be used in conjunciton with your credit reports. I strongly suggest checking out this website. Although you won’t be able to forget the credit you have, you can improve it and get it to the credit that you want it to be.

If you’re not able to open up a checking account, might want to look into getting a stored value Visa or Master card that works like a checking account (http://www.accountnow.net) And if you’re needing a phone check these guys out (http://www.gettalktime.com/weg/gttv2/index.php)

Hopefully this will work out for you

12 | jeff i

March 11th, 2010 at 12:16 pm

If you have bad creidit you need to fix the ones that are new if a debt is 5 years old or so dont do anything to them if you make a payment it will start to contract all over but all the others pay off the smallest debt first make payment agrements to all of them make the payments ontime or erliy and make min payments on all except the smallest one pay as much as possable after it is payed off start the next untill
they are all payed join a creit union do dircet depsit make sure you fix your exemtions on your taxes to where you dont get a tax return so you can pay off your debt more each mounth and get a secured credit card or try a gas station credit card use it for gas and pay OFF every mounth creidit cards are good and so is a house payment but you can get troble if you are not responceable some times people think that the creidit card limit is there money and that will get alot of people in troble the fact is if you dont have contral of your spending dont get one it not yours it is there way of takeing your money It alot like the mob they will let you borrow ther money but if you dont pay you will be in troble. as far a the phone ther may be goverment programs to help you get a phone there is in michigan spend call the companys that have put negitive marks on your report right down every thing they said ask them what to do they will some times take a 50% pay off which will hurt your creit a little but will reduse your debt and that will bost it and start looking for a house that will boost it the most and alot of homes have house payments even less then the rent you may be paying and as far as you bills get orginized put all of your bills in the same spot like your purse or a box on your exiting door so you see them alot but dont get lost make a bill day like the frist of the mounth where all your bills a due on the same day so you can collect intress on your money till you send out your money. online payments are vary easy call your utillits and get a payment plan so you have the same bill every mouth so you can get a bouget better sonds like alot of work because it is you could do this all your self but if if you want good credit you are going to have to prove that you are responable get your story down with the creitors and keep it they record every thing so dont get caught in a lie good luck and if is to much work then eather get a credit consuler and if your parents or a vary close freind that is responable you might beable to cosingh on ther next loan ther car ther payments you have nothing to do whith it but you will be resonceable if they dont pay so do that with EXTREEM coution but thats what my parents did for me they cosinged for ther car ther payments and I got creidit for the loan
they may not do that though and they maynot need a car

13 | iceman

March 11th, 2010 at 12:29 pm

Start rebuilding it store cards or small bank loans. Possibly secured loans. Credit ratings will go up alot faster then you think. It wont be long before some credit card is going to give you a shot again.

14 | Consulting

March 11th, 2010 at 12:31 pm

I Can delete Ur old history and help you get new credit cards and
longs..
E mail.. me i tell u how..

15 | B.B

March 11th, 2010 at 1:14 pm

Look at your credit report and pay everything off, then that will help your score but it will take awhile. It could take up to 6months to a year to see a difference.

16 | lacy k

March 11th, 2010 at 2:04 pm

Even if you do not have a bad credit rating, there are financial advisors who suggest that you check your credit report from time to time for the following reasons: – the information contained can determine whether you get that approval for the insurance or loan you are applying for. It also tells how much you will be paying per month. – in order for you to double check that the information you have there is true, complete and updated. – this will also help you protect yourself against identity theft.

As soon as you see a mistake on your bill, you can report it to the companies mentioned above. They are responsible in correcting the inaccuracy that has been reflected on your credit statement. Make the most out of this by contacting your credit card service provider.
If you have a few hundred to put down on a secured card, it’s a good option to help you start rebuilding your credit. Another plus to the secured cars is that as long as you can put down a deposit, a lender will approve you – these cards offer virtually “guaranteed” approval. It’s another good option if you do not have or cannot qualify for a regular unsecured credit card and want to finance consumer items.
you can get a best secured credit card at:http://www.credit-card-forums.com/Secured.html

17 | Tarun Bandi

March 11th, 2010 at 2:15 pm

Hi Friend,
You don’t need Good Credit to get a Credit Card. There are many financial institutions which work with people having bad credit and approve them. For example check out the following website for list of compiled offers ,
Credit cards for bad credit,

http://www.PoorCreditOffers.com