What to do what to do!!?

My credit score is at a measely 529 right now. A few yearas back i drowned my self in credit card debt totalling $5,000 that i couldn%26#039;t pay back at the time but over the past 6 months i just paid everything off and my score is still bad. What can i do to better it?? i only have 2 active accounts that are in good standing a student loan about $12,000 and car $7,000 that i%26#039;m good with. I%26#039;m rying to buy a house and a realtor told my the least the bank asks for is a 620 score. How can i get it that high if no one will give me credit?? I%26#039;ve tried getting credit cards, furniture, appliances etc to establish more credit but everyone turns me down. I know exacly what is on my credit report but every bad debt i have in it (totaling 10 ) have been paid off. So what now?? How can i get it to go up some more??

What to do what to do!!?

First, STOP trying to get more credit, every inquiry costs you a few points. Second, your on time payments on your auto loan will gain you the most points, unless you are paying a buy here pay here dealer that does not report to the credit bureaus. Keep paying everything on time and your score will increase, slowly. There is no fast fix for this situation.

What to do what to do!!?

Instead of getting more credit, pay off the cards and leave them paid off. A bank doesn%26#039;t want to lend to someone with a lot of debt that they can%26#039;t manage.

What to do what to do!!?

The only way to move your score up is to keep paying your active trades. Also check your credit report to make sure the old debt you paid off reflects that. Make sure it isn%26#039;t showing charged off. Also you can get a home, you just need at least 15%-20% down. I was in a similar situation and my FICO was 560. I just purchased a home with 15% down and 9.5 fixed. Just shop around.

Also the other guy mentioned to pay off all your debt. DO NOT DO THAT. Most lenders want to see at least 2-3 active trades being paid as agreed for at least six months. YOU NEED ACTIVE TRADES TO KEEP YOUR SCORE INCREASING.

What to do what to do!!?

Marry a rich guy to pay them off! and be a kept woman!

Good luck

What to do what to do!!?

You need to demonstrate that you can keep yourself at the sound place your in now. Do this by continuing to keep your credit card paid off. Continue to pay your car and student loan payments on time. You should be able to bring your score up that way. It took it a few years to get to this spot, they want you to demonstrate that you can maintain that. It may take a few months.

What to do what to do!!?

You haven%26#039;t gotten your credit squared away and are looking for 100% stated financing? ONLY 100% stated requires a credit score of 620. Many erroneously believe FNMA and FHLMC require a 620 but they don%26#039;t...they do require a downpayment though.

It sounds to me like you have no business thinking about buying a house until you get your finances in order and learn responsibility. The ability to fill out an application does not entitle you to a loan. Additionally the terms you will get at this point are HORRIBLE.

Wait a year and make a systematic effort to pay past due obligations and save at least 5 % down. You will be far better off because your payment will be half of what you can get now...if you can get anything.

What to do what to do!!?

The Realtor was kinda of right. If you are buying a house and your credit is poor then you would need to put down some money. This depends on the price of the home. If you have over a 620 you can get financing for 100%. It is hard to build your credit fast.

What to do what to do!!?

Keep paying what you have on time. What you need is good credit history to show on the report. You can also write letters to the credit bureaus to try to have some of the old accounts removed. Try telling them that the info being reported is in error (pick something like the late dates, or the amounts, or anything that you can think of). They are supposed to contact the creditor to confirm or deny it, and if the creditor doesn%26#039;t respond, it has to come off, so cross your fingers. The older stuff has a better chance of this working, and also any accounts from companies that are out of business, or have sold your account, etc. Work the system, ya know?

The creditors can stop reporting the history of the accounts, or change what they are reporting whenever they want, so also try asking them directly to stop reporting the negative history. I did this once, and got a couple of them to help me out.

Lastly, stop applying for credit, because excessive inquiries lower your credit score. I don%26#039;t want to berate you, but keep in mind that this situation took a few years to develop, so just be patient and persistent and you%26#039;ll get it straightened out.

What to do what to do!!?

get a secured credit card where you pay $200 or so and they keep it in an account in case you default. you can get a list of these at bankrate.com. also, did you try to get a wal-mart charge card? they gave me one when my score was pretty low and no one else wanted me...that was a couple of years ago and since then my score has come up a lot.