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so I was 4k in loans which I payed off yesterday… my credit score is in the low 400

what now?
how can I improve it?

I want to buy a house in the future how will this record look?

anything would be helpful

6 Thoughts on how long will it take to improve my credit score? paid off EVERYTHING with a loanfrom my brother I got?
  1. Reply
    October 18, 2011 at 5:08 am

    This plan will get you back on track. Great for people with no credit or horrible credit. Use even if you have ok credit but want to increase your credit score. Read in entirety and re-read.

    To work this plan you need at least $ 400 to begin. You should borrow this from your friends if necessary. Then go to a bank of your choice and deposit the $ 400 into a regular passbook savings account.
    Wait a few days for the account to be posted and return to the bank to ask for a $ 400 loan – you offer the passbook as collateral. Since the bank is already holding your $ 400, you go to another bank open a savings account lending you another $ 400 and they won’t even make a credit check. Then, with your borrowed $ 400, you go to another bank, open a savings account, return a few days later, borrow $ 400 from that bank using your passbook as collateral.

    Then repeat the process at a third bank with your borrowed $ 400. Wait a few days to go to a fourth bank where you open this time a CHECKING account. Wait a few days and make a payment on each of the other three loans. A week later, make payments again on the three loans, and continue paying each week until you have almost paid off the balance.

    Your credit reports will show you have three active bank loans (which are considered hard to get), a checking account, and a paying history for the three bank loans – with you having paid up in advance. Thus, you have AAA credit in as little as 30 days. From here you go on to apply for loans, credit cards, and other items on credit. Click HERE for more Credit Secrets…

    (Please note this is also called a Secured Bank Loan. Ask your Banker. The key is to BUILD your credit – so make sure it’s PAID IN FULL within 60-90 Days. Remember to use the money only to secure the loan and pay the loan. Do not spend the money on anything else. As long as you stay in control – Debt Will Never Control You Again! Good Luck!

  2. Reply
    bob W
    October 18, 2011 at 5:27 am

    you can buy a house without credit, seek out owner finance or a lease to purchase wrap and just take over someones mortgage payments. Many times you can do it with no money

  3. Reply
    October 18, 2011 at 5:32 am

    It can take 7 years for valid negatives to fall off of your credit report. If you can get a loan or credit card and pay it on time without fail, that will help towards improving your credit. It takes time to heal wounds.

    But I would be skeptical about the scheme to shuffle needlessly borrowed money around different bank accounts to get tiny loans. If I was a bank and saw someone rapidly getting multiple tiny loans, I would think they were desperate and not a good risk.

  4. Reply
    October 18, 2011 at 5:44 am

    You can improve your credit score with knowledge, some time, some effort and not a lot of money. Start by learning the credit laws in the United States. The big one that will help you is that credititems. If they can’t prove it’s correct or don’t respond in time, the items must be removed.

  5. Reply
    October 18, 2011 at 6:33 am

    OK so now you paid off everything in collections, and 7 -1/2years from now they will all fall off your report. In the mean time pay your bills on time and keep any credit cards below 30% of there limit 4-5 years you should be in a comfortable but not great position

  6. Reply
    October 18, 2011 at 6:41 am

    not long

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