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Ok…I made some mistakes in the past, I had alot of negative items on my credit. In the past 2 years I have paid almost all of it off. The problem is, even tho it says “paid off” on my credit report it still makes my beacon score really low. And it shows as a negative item. Some of the items are not scheduled to be off until 3 or 4 more years. I am trying to get a loan and its impossible!!!! I signed up with a credit repair agency about 8 months ago but they havent done anything for me. Is there a way I can get that crap off my credit on my own???

9 Thoughts on How do I fix my credit?!?!?!?
  1. Reply
    Katie
    July 24, 2011 at 1:30 am
  2. Reply
    [email protected]
    July 24, 2011 at 2:21 am

    claim bankruptcy

  3. Reply
    Mandy
    July 24, 2011 at 2:27 am

    Listen to Dave Ramsey. He’s a genius!

  4. Reply
    JB
    July 24, 2011 at 2:27 am

    Credit repair is BS, they can’t do anything. You need to let the bad stuff go away and that takes time. What you can do is use credit responsibly. Remember that a credit score is a way people judge how you use credit, and they really weigh heavily the last 24 months. So even though that negative stuff is on there for 7 total years it won’t drag you down the whole time.

    Do you currently make any payments to someone that report to the credit bureaus? If the answer is no then you need to get something, anything that will report. A credit card or maybe a secured card if that’s all you can get. Make sure you only make small purchases on it each month and then pay the balance in full. Once you can establish some good credit history all the negative stuff won’t be weighing as heavy on your score.

  5. Reply
    Steve D
    July 24, 2011 at 2:45 am

    Unluckily, the negative information will not come off the report. It is there for 7 years. As the bad reports age, they should become less of a problem. However, given that you are looking for a loan now, that really doesn’t help. What you can try is to see if you are eligible to join a credit union. If so, open up a savings account for a few months. Then go to the loan officer and explain what happened. Credit unions are owned by their members and tend to be a little more lenient is lending money to their members. See if you can use your recent payment history on your utilities as a means of establishing recent credit. If so, talk to your billing office at your utility and ask about the best way to show your on-time payments.

    Also, try applying for a credit card at a local/regional department store. These stores cater to smaller audiences than the national chains and as such, make a greater effort to be customer friendly.

  6. Reply
    Lesharo
    July 24, 2011 at 2:55 am

    First and foremost ditch all “credit repair” agencies. They are a scam! They cannot legally do anything you can’t already do on your own.

    Ok, now here’s, the drift. Once your credit is damaged, it’s damaged. You can’t undo that, but there are some things you can do to make it better.

    1.) Keep your accounts open. Pay them off but don’t close them unless they’re charging you an unbearable fee to keep to open.

    2.) Get a friend or relative with good credit to put you on their account as an “authorized user”. They don’t have to hand you the card and this doesn’t ruin your credit or theirs. What this does is copy the history of that card to your report and in turn your score gets boosted to whatever theirs is. Since you already have your own score, the two will get averaged together. When your score goes up they can take you off and you can re-apply for credit in your own name.

    3.) Sign-up for a credit monitoring service like TrueCredit and search the web for a a practice called “b*ping” or “bumping”, which is pretty much removing bad inquiries and negative information from your report by stuffing it with good inquiries. This is done by logging in and checking your credit report daily. You have to hit “refresh”. After 2 months, you have 60 inquiries and the file can only hold so much, so all of the bad stuff pretty much falls off.

    Details here:
    http://www.fatwallet.com/forums/finance/799643/
    and here:
    http://investorloi.com/?p=234

    Other than that, there’s not much you can do but wait. Time heals credit better than anything else.

  7. Reply
    Dixie Darlin'
    July 24, 2011 at 3:41 am

    The time to negotiate your credit history was BEFORE you paid off the old debt. If you paid off collections then you should have negotiated a “Pay for Deletion”, this is where you get the collection agency to agree to remove the accounts from your credit report completely in exchange for payment on the account.

    The problem you have in paying off old collections is that it brings the accounts current, so they will again make a big negative impact until they are about 2 years old.

    Since you have already paid off the debt, you have lost your power over the collection agencies. Although the accounts say PAID this is still a paid collection, which is only slightly better for your credit history.

    Do not use the credit repair agency, you can do it yourself. Now that the collection agencies have your money they do not care about your credit history.

    Pull your free credit report from http://annualcreditreport.com and open up a dispute on the negative collection accounts, they have your money, so it is most likely they will not take the time to verify the account, if they fail to verify within 30 days, then those accounts will be deleted.

  8. Reply
    GCBP
    July 24, 2011 at 4:10 am

    Just pay your bills and the bad credit will age-off.

  9. Reply
    Cris
    July 24, 2011 at 4:21 am

    Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – creditreport.imess.net

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