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I lost my daughter, went through a divorce, and now have horrible credit. Medical bills, a judgement being garnished, past due car payment, and credit cards past due. I filed bankruptcy before any of this happened. I now have a decent job and right frame of mind to try and fix this. Is it going to be possible to get decent credit again and how? Thanks!

5 Thoughts on How do you repair REALLY bad credit?
  1. Reply
    July 10, 2011 at 11:26 pm

    not very educated in this matter myself but, i would pay minimums on all except the one i could pay off the fastest. say the minimum payment on that one is $ 100, pay as much over $ 100 as you can. once that’s paid off, take the $ 100+ from that, & stack it onto the already minimum that you were already paying on the next one. get what i’m saying?? you may also want to speak with some sort of debt consolidation/counselor. keep your head up, pray, & know that god is with you always.

  2. Reply
    July 11, 2011 at 12:16 am

    It will take some time… just remember to look for the light at the end of the tunnel. Start with accepting some of the credit card offers from the banks that offer them to you… I had a BK and Capital one was one of the first people to offer a crefit card to me. I would charge things on but this time I would not charge more than what I knew I could pay off at the end of the month… about 4-6 months after they offered me a second card with a lower rate and accpeted that one as well and I do the same with that card. I only charge what I know I can pay at the end of the month. Keep that up and soon you will start getting offers again left and right. Just dont accept anymore cards… its NOT about how many cards you have anymore… its about having GOOD Standing now with creditors…. soon after a couple of months of good standing with your creditors you can start to negotiate lower rates on your credit cards… after 4-6 mos. of timely payments I would call them up and ask for a lower rate… and most of the time they would lower 1-2 percent….

  3. Reply
    Ingrid S
    July 11, 2011 at 12:52 am

    Sorry to hear about your daughter. What are the dates of last activity on these accounts ? After seven years the derogatory accounts drop off in many cases. First you have to save money and then make pay-for-delete deals with the collection agencies. You can pay if they will give you in writing that they will remove the accounts from your credit reports. Good Luck.

  4. Reply
    Lipstick, High Heels & BS
    July 11, 2011 at 1:51 am

    First…I’m very sorry to hear about the loss of your daughter.

    Regarding bad credit…the answer is yes it is possible to recover but it’s going to cost you!!! Rebuilding your credit means will have higher interest rates and need a lot of patience and discipline.

    As I was reading a few of the answers here they are correct in regards to items remaining on your report of seven years. However, one of the things that most people don’t know is that all debt have a statute of limitations on them.

    In the state of California the statute of limitations is 4 years. This means that if a creditor does not take any legal action within the four years – they will not be able to after that. This doesn’t mean that you don’t owe the debt…you will forever owe the debt until it’s paid – and it will remain on your report for the seven years….however, creditors cannot get a judgment against you which means no garnishments or liens.

    The reason why I share this information is not to encourage people to not pay debts….but it helps you decide where to better use your money first. For instance, if you find that you have extra money and want to pay a debt….I would pay the one that hasn’t past the statute of limitations first because they still can get a judgment.

    I hope this was helpful…and I wish you luck on your journey.

  5. Reply
    Brown C
    July 11, 2011 at 2:31 am

    you can repair your credit online with credit counseling agencies they will help you out to manage all your credit and pay them all of on your behalf and with no hassle, for your reference the same problem was with my sister and he has made contact of them and get her problem resolved from there, you can try this reference may this could help you out.

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