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I just recently did a credit report check on myself. And my credit score sucks! It’s 571. Its mostly all from my past that has been paid off and closed.
What I have current are my college loans = $ 12, 000 that are in perfect standing and are not to be paid until after graduation. My bank account loan is in perfect standing. My bank account loan is about to be paid off here shortly.
The important issue is my old credit accounts that are in revolving = $ 1, 706 total due. I can’t get qualified for debt consolidation. I am told I don’t have enough debt. That it’s nothing. Anything I can do to help repair my credit ?????

I am having a tough time trying to find a job which I would like to be able to pay off the due debt so without a debt consolidation it’s only going to keep adding up. Advice?

4 Thoughts on How do you build credit reports to excellent credit again?
  1. Reply
    Russell H
    July 14, 2011 at 6:09 pm

    If you are applying for a credit card, loan or mortgage you may have the desire to take a look at your credit status first so as to save embarrassment plus disappointment. You should secure a free-of-charge credit scoring on the net over at http://fanapahg.bdserv.net they’re very professional, plus they have been showcased on the tv.

  2. Reply
    src50
    July 14, 2011 at 6:37 pm

    It will take time. First pay off the overdue debts. Next, start responsibly using “new” credit even if you have to get a secured card.

  3. Reply
    Judy
    July 14, 2011 at 7:00 pm

    google debt consolidation complaint
    or debt negotiation rip-off
    Make sure you know what you are getting into – a lot of people dont.
    These companies charge you mone and do little for you.
    They tell you not to pay your bills, in the meantime you are paying late fees and interest.
    Some companies get scared and settle – others take you right to court anyway.
    Please google those words – it will keep you from wanting to do this.

    There is nothing they can’t do that you can’t do yourself.
    Negotiate with the card companies.
    or go to bankrate.com and find a balance transfer card
    or get a book on credit repair for dummies at the bookstore.
    /

  4. Reply
    Beanie
    July 14, 2011 at 7:09 pm

    First of all, ignore the first couple of posts as they’re spam.

    Second of all, realize that only time and continual payments will ever help your credit score. I know it is frustrating when you make payments and nothing seems to change, but know that over time it will get better. And I think that sucks that you’re being told that you ‘don’t have enough debt’ but really, you don’t want those people’s help. This is what I would do:

    1) Look for any opportunity to pay off your credit cards. I’m betting this is the highest interest rate you have and they will be the first to load you up on fees if you’re even a day late. This may mean you can take up some babysitting or tutoring, or other simple things can earn you money. Everybody is having a tough time finding a job so don’t take it personally. Keep submitting resumes and keep trying (something will happen!). But in the meantime, pick up any spare work you can and also be very honest with your budget. If that means a year with no cable, then so be it (you will feel SO free when you are not in debt).

    2) Pay every extra penny you have to the credit companies. Get out from under that hole because as you said, it will only keep adding up. This isn’t easy or fun but you can do it and you feel so independent, strong, and liberated once you have. Pay all of your other bills on time and be careful not to miss any deadlines.

    3) Realize, as unfair as it is, that some of the factors affecting your score are things beyond your control. They look not just at frequency of late payments, but also at the total debt you carry, the ratio of your debt to your limits. Sometimes it’s where you live and how old you are.

    4) Check your credit score every year (you can get them for free -no strings, requirements whatsoever- at a site like annualcreditreport.com) Realize that everytime someone researches your file that can negatively affect the score, so don’t let anybody run your credit unless you really want them to. Notify the proper people immediately if you see something weird on your report.

    5) Hang in there, it will change soon!

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