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When I turned 18 and got into the “credit” world I was very stupid and completely ruined my credit. I ran up credit cards and couldn’t pay them. I am now 24, married, and have 3 beautiful children I unfortunately am stuck renting a house and I am ready to buy a house and settle down before my twins start school (they will be 3 next month). I have been hearing the best thing to do is to pay off my collections and all the debt I have which is only about $ 6000 total. But I am unsure of what to do after that. Any advice would be greatly appreciated. Thanks 🙂

2 Thoughts on how to improve credit score when delinquencies are affecting it?
  1. Reply
    Go with the flow
    April 22, 2013 at 4:56 am

    Go to a bookstore and get a book on Credit Repair.
    Spend about $ 15 or $ 20 and about 4 hours reading this weekend.
    The book could save you thousands by teaching you how to negotiate settlements.
    Also things to know like get it in writing first.
    And never give them access to your checking account info.

    These books are easy to read – please go get one.
    Your library will probably have these – you have kids.
    Your wife knows where the library is.

    Then, after you fix your credit, go get a book called (also at libraries).
    Buying your first home for dummies.
    It will tell you about down payments, closing costs, realtors, home inspections, etc.
    Lots to learn.

    Whatever you do be aware that many people are out to scam you.
    Do not fall for these scam credit repair services.
    And stay away from anything with the word consolidation on it.
    Scammers prey on the most desperate – keep your eyes open for them.

  2. Reply
    Love big words
    April 22, 2013 at 4:57 am

    You need 20% down, and a 15 year mortgage with a PITI that doesn’t exceed 25% of your take home pay. You need money in the bank, reserves to pull from when things break. Things break.

    As far as your past credit, you should settle with them.

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