This topic contains 8 replies, has 2 voices, and was last updated by Anonymous 7 years, 5 months ago.
- May 14, 2011 at 7:11 am #210907
instead of putting my monthly income, i just put what i got out of one paycheck… (which would be half of my monthly income)
what’s going to happen? are they going need to contact my employer? will i be denied? will i be accepted and given a really low credit limit??
dumb mistake… lol
thanks in advance for answering
- June 23, 2011 at 7:28 pm #327698
There is no easy, ethical way to repair your credit. The best way to repair your credit is to continue paying your bills on time, and lower your debt-to-credit ratio. It will probably take about 18 months to significantly increase your score.
- June 23, 2011 at 8:17 pm #327699
Start by paying ALL bill on time.
Pay bill down as soon as possible. Paying one off at a time is a good idea.
Any thing you owe may show up. Even a late library fine.
- June 23, 2011 at 8:27 pm #327700
Pay everything on time. That is the most important thing.
Pay off your credit cards. Throw every penny you can squeeze out of your budget at the highest interest rate card, while paying minimum on the rest. When the highest interest rate is paid off, move to the next till they are all paid in full. Then only charge what you can afford to pay in full every month.
Next go to work on your old debt. Start with the newest and work back to the oldest. Negotiate settlement. You can probably pay 50% to 75% depending on how old the debt is. Lump sum payment gets the best deals. Payment plans have to be short term. Get any settlement agreement in writing and don’t allow them access to your bank account. You can ask that they delete the item as part of the agreement — some will; some won’t.
You will need a consistent 2 year on time payment history to see real improvement in your score.
- June 23, 2011 at 8:36 pm #327701
Go to http://www.creditboards.com this is a free public service messageboard. It is visited by thousands daily and they have over 34,000 register members for the messageboard service.
- June 23, 2011 at 9:13 pm #327702
You don’t need a lawyer. Why would you want to pay someone to do what you can do yourself?. Don’t waste your money. Besides, the attorney will rip you off. Using the money that you pay them, pay off your bills. The attorney will not be able to repair your credit that you already ruined. Credit card companies report as it was and no one can change it.
First, call all of your credit card and negotiate a payment plan. Start paying them on time as the terms that you agreed. Stop using credit cards if possible. Don’t create more debt. Just pay what you owed. Eventually, your credit score will get better. That’s the only and the cheapest way to do without getting the lawyers involve.
- June 23, 2011 at 9:44 pm #327703
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.
- June 23, 2011 at 10:21 pm #327704
pay your bills on time, never max out the card
- September 21, 2011 at 6:01 pm #291520
yes, to at least one of those questions, but I doubt they will contact your employer. If you get approved, with a low rate, still use it, prove your credit worthiness, and ask for an increase in your limit in the future. whether you are accepted or denied, You might also end up applying for another card.
It is not the end of the world. Lots of people make that mistake.
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