Posts Tagged Poor Credit
Can you help me get out of my massive credit card debt?
Nick asked:
I have about 7500 in credit card debt. I know this may not seem like a lot to some people, but I’m only 24 and I bought a truck that I probably shouldn’t have and the payments on that are what’s killing me. I’ve decided that the last thing I want to do is get rid of the truck. I have fallen behind on some of my payments and am acquiring late fees and higher interest rates, and my credit is being shot to hell in a hurry. I have applied for several personal loans to pay off my credit cards and get one lower monthly payment, but I’ve been denied every time because of my poor credit. I don’t really want to go through a credit counseling service yet, because that shows up on my credit report and will further reduce my score. I have worked thorugh my budget with a fine tooth comb and I’ve done calcualting with differnt loan terms/interest rates/etc. and I know I can afford one, but how do I get one? Any advice you can give would be greatly appreciated.
I would appreciate worthwhile answers only, please. I’ve only had the truck since March, so my loan would be way upside down, and with my credit what it is now, I wouldn’t get anything reliable for the loan I’d get.
April
I have about 7500 in credit card debt. I know this may not seem like a lot to some people, but I’m only 24 and I bought a truck that I probably shouldn’t have and the payments on that are what’s killing me. I’ve decided that the last thing I want to do is get rid of the truck. I have fallen behind on some of my payments and am acquiring late fees and higher interest rates, and my credit is being shot to hell in a hurry. I have applied for several personal loans to pay off my credit cards and get one lower monthly payment, but I’ve been denied every time because of my poor credit. I don’t really want to go through a credit counseling service yet, because that shows up on my credit report and will further reduce my score. I have worked thorugh my budget with a fine tooth comb and I’ve done calcualting with differnt loan terms/interest rates/etc. and I know I can afford one, but how do I get one? Any advice you can give would be greatly appreciated.
I would appreciate worthwhile answers only, please. I’ve only had the truck since March, so my loan would be way upside down, and with my credit what it is now, I wouldn’t get anything reliable for the loan I’d get.
April
buying a new or used vehicle with bad credit?
stephanie b asked:
Ok I want to buy a vehicle but I have poor credit currently I am working to build my score, What Im wanting to know is
what is the Standard interest rate for someone with poor credit?
Should I go to several dealers or just stick with one ?
Do they all follow the basic guidelines for wheeling and dealing?
I have been back to work for the past 7 months, My income is fairly good
I am paying on my bills but I guess it will take time for it to come off my credit report so Im worried when i go apply for a vehicle new or used they will see my past and offer the highest possible Interest rate. What can I expect?
Should I try the bank 1st or maybe get a personal loan
I dont want to be stuck paying for a vehicle that is going to cost me more than it is actually worth but I suppose if this is my only choice due to my neglecting my credit in the past I will have to bite the bullet,but Im hoping someone out there has had the same exp and willing to share advice
thank you
Miguel
Ok I want to buy a vehicle but I have poor credit currently I am working to build my score, What Im wanting to know is
what is the Standard interest rate for someone with poor credit?
Should I go to several dealers or just stick with one ?
Do they all follow the basic guidelines for wheeling and dealing?
I have been back to work for the past 7 months, My income is fairly good
I am paying on my bills but I guess it will take time for it to come off my credit report so Im worried when i go apply for a vehicle new or used they will see my past and offer the highest possible Interest rate. What can I expect?
Should I try the bank 1st or maybe get a personal loan
I dont want to be stuck paying for a vehicle that is going to cost me more than it is actually worth but I suppose if this is my only choice due to my neglecting my credit in the past I will have to bite the bullet,but Im hoping someone out there has had the same exp and willing to share advice
thank you
Miguel
How to Get Late Payments Off Of My Credit Report
Tim Bock asked:
Anyone who’s working to rebuild their credit understands how frustrating it can be. Your credit score show all of the good and bad habits of your credit history. Late payments are generally one of the largest contributing factors of poor credit. In most cases waiting is the only option. However there are a few things that can be done to help take last payments off your credit report sooner rather then latter.
Late payments will appear on your credit report as either 30, 60, 90 or 120+ days late. Make sure you focus on the 120+ payments first, since they have the most negative impact on your credit score.
You should also look for unusual names. Can you match them up to an account that you have? If the answer is “no”, you need to investigate further. It could be possible that these were charged to you by mistake, therefore affecting your credit in a negative way. Even worse you could be a target of identity theft, which is another reason to make sure someone isn’t charging things to your credit without your consent.
If you’ve ever declared bankruptcy it’s important to understand it should only stay on your credit report for 7 years. If it’s still showing up after the 7 year deadline, you need to send a letter to all the credit bureaus and make sure it’s taken off.
While invalid late payments can be frustrating, it’s important to understand there are ways to fix your credit score. It’s important to act as soon as possible.
Marc
Anyone who’s working to rebuild their credit understands how frustrating it can be. Your credit score show all of the good and bad habits of your credit history. Late payments are generally one of the largest contributing factors of poor credit. In most cases waiting is the only option. However there are a few things that can be done to help take last payments off your credit report sooner rather then latter.
Late payments will appear on your credit report as either 30, 60, 90 or 120+ days late. Make sure you focus on the 120+ payments first, since they have the most negative impact on your credit score.
You should also look for unusual names. Can you match them up to an account that you have? If the answer is “no”, you need to investigate further. It could be possible that these were charged to you by mistake, therefore affecting your credit in a negative way. Even worse you could be a target of identity theft, which is another reason to make sure someone isn’t charging things to your credit without your consent.
If you’ve ever declared bankruptcy it’s important to understand it should only stay on your credit report for 7 years. If it’s still showing up after the 7 year deadline, you need to send a letter to all the credit bureaus and make sure it’s taken off.
While invalid late payments can be frustrating, it’s important to understand there are ways to fix your credit score. It’s important to act as soon as possible.
Marc
Reasons for Checking Your Credit Report
Sean Patrick asked:
Your credit report and score tells lenders whether or not you are a good risk for a loan. Your credit history, payments, and account information are on this report. Your FICO score is also an important factor for lenders. The information contained in your credit report is used to generate your FICO score which acts as your credit “report card”. A FICO score is not the same as your regular credit scores. It uses different set of rules & algorithms for coming up with your credit score. And many lenders utilize the FICO score to determine your creditworthiness. Therefore it may be prudent to see what’s on your FICO score as well before applying for a loan.
Often the information contained in your credit report has some inaccuracies. This is why it’s important to check your credit report on a regualr basis. At least once a year to ensure that the information is correct and up to date.
Reasons you should check your credit report include:
* Basic Inaccuracies
Payments that’s have been made, but not credited to you. Late payments or having someone else’s date (especially if the names are similar) being mixed in with yours. If you notice inaccurate information, you must contact the credit reporting agency to get the mistake corrected.
* Tracking Payments
Many times, checks sent through the mail do not reach the accounting office of the company on time, or get lost in the mail. Such late or missed payment issues could be posted on your credit file. Therefore you would need to correct this information by contacting the creditor. If you don’t read your credit report, you will not know which payments have been received and properly reported.
* Identity Theft
Identity theft is one of the fastest growing crimes in thw U.S. It’s one that has caused people to have poor credit ratings because someone has received credit or loans in their name and defaulted on the payments. Your credit report will show you the list of accounts that have been opened in your name. Check them carefully to ensure they match your personal financial details.
* Inquiries
Your credit report will list the names of companies or persons who have requested information regarding your credit history. Read them carefully to make there’s no fraudulent activity and/or unauthorized entry that could be related to id theft. Also, too many inquiries are seen as unfavorable by lenders and will make it harder to obtain loans.
* Credit Fraud – Unauthorized Charges
Credit fraud involves the unauthorized use of your credit cards or account number to make charges on your account. Sometimes this is done so subtly that you do not notice the extra charges on your monthly statement. By viewing your credit report, you will be able to catch new activity on your accounts, especially if they are ones you haven’t been using.
When it comes to managing your credit worthiness, your credit report is your best resource. Viewing your credit report gives you the opportunity to manage your credit wisely. While planning a credit strategy to achieve future goals, you should regularly review your credit report to ensure an excellent credit rating.
*Free Credit Report Services
Free credit report services are not created equal. With some services, you’re able to see what’s on your credit report and score from all 3 major credit bureaus online – TransUnion, Equifax, and Experian. This is important because the data contained in one credit bureau file may not match what’s on the others. Also, various lenders may choose to see one or more of your credit files. So it makes sense to obtain the most comprehensive report. And most services do not provide a free FICO score. You only get to see what’s on your regular credit scores. These are some of the reasons why it makes sense to do your homework and make comparisons between the features they provide.
MARK
Your credit report and score tells lenders whether or not you are a good risk for a loan. Your credit history, payments, and account information are on this report. Your FICO score is also an important factor for lenders. The information contained in your credit report is used to generate your FICO score which acts as your credit “report card”. A FICO score is not the same as your regular credit scores. It uses different set of rules & algorithms for coming up with your credit score. And many lenders utilize the FICO score to determine your creditworthiness. Therefore it may be prudent to see what’s on your FICO score as well before applying for a loan.
Often the information contained in your credit report has some inaccuracies. This is why it’s important to check your credit report on a regualr basis. At least once a year to ensure that the information is correct and up to date.
Reasons you should check your credit report include:
* Basic Inaccuracies
Payments that’s have been made, but not credited to you. Late payments or having someone else’s date (especially if the names are similar) being mixed in with yours. If you notice inaccurate information, you must contact the credit reporting agency to get the mistake corrected.
* Tracking Payments
Many times, checks sent through the mail do not reach the accounting office of the company on time, or get lost in the mail. Such late or missed payment issues could be posted on your credit file. Therefore you would need to correct this information by contacting the creditor. If you don’t read your credit report, you will not know which payments have been received and properly reported.
* Identity Theft
Identity theft is one of the fastest growing crimes in thw U.S. It’s one that has caused people to have poor credit ratings because someone has received credit or loans in their name and defaulted on the payments. Your credit report will show you the list of accounts that have been opened in your name. Check them carefully to ensure they match your personal financial details.
* Inquiries
Your credit report will list the names of companies or persons who have requested information regarding your credit history. Read them carefully to make there’s no fraudulent activity and/or unauthorized entry that could be related to id theft. Also, too many inquiries are seen as unfavorable by lenders and will make it harder to obtain loans.
* Credit Fraud – Unauthorized Charges
Credit fraud involves the unauthorized use of your credit cards or account number to make charges on your account. Sometimes this is done so subtly that you do not notice the extra charges on your monthly statement. By viewing your credit report, you will be able to catch new activity on your accounts, especially if they are ones you haven’t been using.
When it comes to managing your credit worthiness, your credit report is your best resource. Viewing your credit report gives you the opportunity to manage your credit wisely. While planning a credit strategy to achieve future goals, you should regularly review your credit report to ensure an excellent credit rating.
*Free Credit Report Services
Free credit report services are not created equal. With some services, you’re able to see what’s on your credit report and score from all 3 major credit bureaus online – TransUnion, Equifax, and Experian. This is important because the data contained in one credit bureau file may not match what’s on the others. Also, various lenders may choose to see one or more of your credit files. So it makes sense to obtain the most comprehensive report. And most services do not provide a free FICO score. You only get to see what’s on your regular credit scores. These are some of the reasons why it makes sense to do your homework and make comparisons between the features they provide.
MARK
is it easier with poor credit to get a?
mandrin4200 asked:
line of credit or personal loan..i know its probably hard to get both with poor credit but which is better, i have paid off all the bad things on my credit report now just waiting for letters and score to rise. any info would be helpful
GUADALUPE
line of credit or personal loan..i know its probably hard to get both with poor credit but which is better, i have paid off all the bad things on my credit report now just waiting for letters and score to rise. any info would be helpful
GUADALUPE
How do I build credit for my small business?
james asked:
I just opened a car audio business in tx and i have poor personal credit. How do i build my business credit/get a credit report on business ect… also my business is a dba type. Also I can’t seem to get credit approval from anyone because of my personal credit any advice will be helpful.
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I just opened a car audio business in tx and i have poor personal credit. How do i build my business credit/get a credit report on business ect… also my business is a dba type. Also I can’t seem to get credit approval from anyone because of my personal credit any advice will be helpful.
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