Bad Credit?
How much does it take to restore your credit. I had 3K in bad credit card debt. I paid it off. How long before I can get approved for renting an apartment or a car loan?
Public Comments
- Now that you are out of debt, why don't you just keep it that way? The credit score is overrated. Save up and pay cash for your next car. If you can't pay for it in cash, you can't afford it. If you have trouble getting an apartment, offer to pay 2-3 months of rent in advance.
- Keep the car loan in thought; however, in the mean time I would purchase a cheap (good running bucket) affordable vehicle, payable by cash, to get you from point A to B. It takes nothing to restore your credit. What you need to do is get a copy of your credit report and study it; send remarks explaining your case to the credit bureaus for negative information. Ensure that the credit card companies update the credit remarks (on the report) stating "Account paid in full" or something to that affect. You also want to try to negotiate with the credit card companies to see if they can remove your entire account from record (can be done) period. If they agree to do so, you need to dispute the negative credit card information on your credit report with the credit bureaus (Equifax, Transunion, Experian) after you have verified the credit card companies have deleted your account history (call them 2 weeks after initial communication). The credit bureaus will have 30-days to verify that your accounts are erroneous. During the dispute period, your credit score will rise slightly. There are books for credit repair that contain letters that tell you exactly what you should say to the debtors to have negative credit removed. It can take less than 30 days to repair your credit. Now about that loan; if you intend on getting a decent vehicle... get a decent used vehicle with affordable payments. This secured debt will boost your credit if your debt to income ratio is decent. Also, believe it or not, having credit cards will definitely boost your credit if you keep the balances low. If I were you, I'd try to get a small $500.00 credit card and maintain that card until you feel responsible enough for a higher balance. Bottomline is that removing ALL debt will hurt your credit and paying all cash for everything will not build credit at all. Everything requires credit nowadays and you're going to need to become savvy in managing credit... even better than money. God bless.
- to restore your credit it may take 6 months if You always pay in time , no lateness , You must know feel how it felt like to be in dept so why again you need to do it , How ever this is not recommended there are mush people just like you with similar case need to buy new house or new car , go to Only Best Deals Blog its in my profile Click my picture its in the end of my profile and it discuss every thing about credit issues , problems , reports & scores , Just think twice before doing this . I Hope this Help You .
- I have found a card that is good to help reestablish. The way it works it you have to pay approximately 0.5% up front (min 5,000.00) go to http://robertscredit.com/ far right there is a link and a lot of information on how it works.
- If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can't be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt. Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder. A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn't undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder. When a person approaches a credit counseling agency, the first thing it will do is to take stock of the situation and get various facts about the credit card debt. The credit counseling agency collects data about the income, expenditure and spending habits. It will guide the credit card holder about budgeting benefits and try to inculcate good financial habits. Read more from: http://www.credit-card-gallery.com/eliminate_credit_card_debt.html
- Much quicker if you use a simple credit restoration program to remove these "paid negatives". Check out the free evaluation form at www.totaldebtsolutionsllc.com They can help.
* Some answers may have been provided by Yahoo! Answers.