Posted on: 23rd Apr, 2008 11:03 pm
Hello, and thanks for any advice given!
First off, I think I have done everything possible wrong in the "credit world"! I started off by letting 5 credit cards go into collection when I joined some negotiating scam. One of the requirments of the scamming company i was dealing with was to close all of those accounts. After that destroyed my credit, I payed off all of the full balances through the collection agency. Now, I am looking to repair what I have done in the past year. My debt to income ratio should be amazing...seeing how I am debt free, yet horrible credit. I guess what I am getting at is the question, what should I do to raise my credit score seeing how I have no bills to pay on time, or no balances that are too high. I have heard rumors that I can dispute all of the negative items on my report, but I am a little skidish when it comes to my credit now. I didnt know how that would work with having $0 balances on everything, or if it would change it at all. Also I have heard of purchasing a couple $1000 cd's and putting those up to borrow against as in a secured loan...let it sit for about a year, and this is supposed to help. Please let me know if there is anything else I can do...as I stated earlier, I am really nervous about harming my credit again.
Once again, thanks for any advice
First off, I think I have done everything possible wrong in the "credit world"! I started off by letting 5 credit cards go into collection when I joined some negotiating scam. One of the requirments of the scamming company i was dealing with was to close all of those accounts. After that destroyed my credit, I payed off all of the full balances through the collection agency. Now, I am looking to repair what I have done in the past year. My debt to income ratio should be amazing...seeing how I am debt free, yet horrible credit. I guess what I am getting at is the question, what should I do to raise my credit score seeing how I have no bills to pay on time, or no balances that are too high. I have heard rumors that I can dispute all of the negative items on my report, but I am a little skidish when it comes to my credit now. I didnt know how that would work with having $0 balances on everything, or if it would change it at all. Also I have heard of purchasing a couple $1000 cd's and putting those up to borrow against as in a secured loan...let it sit for about a year, and this is supposed to help. Please let me know if there is anything else I can do...as I stated earlier, I am really nervous about harming my credit again.
Once again, thanks for any advice
I have two savings accounts with my credit union, one is mine it has about two bucks in it and the other is my daughters, alot of my forum and writing money goes into it.
I wanted her to have her own membership at a young age in the credit union, I have to keep my account so that she can maintain hers, Here in a bout two months I will be sending a direct payment to each of these accounts. Mine will be used for a christmas club, hers can just stay there and build till she gets old enough to make an intelligent decision on it, hopefully, she will keep the account. She is four, so she will have a good many years in by the time she can make that decision.
I wanted her to have her own membership at a young age in the credit union, I have to keep my account so that she can maintain hers, Here in a bout two months I will be sending a direct payment to each of these accounts. Mine will be used for a christmas club, hers can just stay there and build till she gets old enough to make an intelligent decision on it, hopefully, she will keep the account. She is four, so she will have a good many years in by the time she can make that decision.
Good thinking jbarto, I am glad to see you looking brightly at the future.
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