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Missy12342008 · Joined: 24 Feb 2009 Posts: 36 2.66 Dollars($)

Hello everyone I just wanted to find out if anyone might know what I can do? I'm not very good at managing money needless to say I now have a lot of bad debt which I'm slowly starting to pay off, and raise my score, but it looks like my credit score isn't updated that often, and it should be a little higher than it is showing I need to get a loan or something to help raise my credit score but it is at almost 600 now, and is still considered poor. I know the econmy is very bad right now, and banks aren't lending money to people who they consider High risk does anyone have any advice on how I can raise my credit score so that I might be able to get a good rate on a car or credit card later on? Thanks for all your advice.

Sincerely,
Melissa Rolling Eyes

jameshogg · Posted: Tue Feb 24, 2009 7:30 pm Post subject:

Hi Missy,

I guess your credit score is below 600 which is considered a poor credit score in today's market. There are various steps which you can take in order to improve your credit. To know more about them, check out the following page:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Thanks

msnover92571 · Posted: Sat Feb 28, 2009 6:41 pm Post subject:

There is a lot you can do to help boost your credit score. Do you have any collections? Late payments? Is you DTI very high?

Missy12342008 · Joined: 24 Feb 2009 Posts: 36 2.66 Dollars($)

I do have a high debt to income ratio. I also don't really have a lot of credit I have only two credit cards both are pretty high aprs as I have a credit score of 558 is the last from Transunion also do you know how often they actually update your score? As I had to do a dispute with all three regaurding a judgement from last year which my husband paid off it's not showing at all on any of his reports but it's on all three of mine. I don't have any loans or anything else really just some medical bills, and a few other older credit cards which got to far behind for me to ever catch up on paying them on time so now they're all in collections I do have a few "Charge offs" as well. Anyadvice Thank you all for your help

smithsussane · Posted: Tue Mar 03, 2009 9:41 pm Post subject:

Hi Missy!

Welcome back to forums!

As far as I know, the credit bureaus update the credit report as and when your creditors report about your dues to them. If you feel that something has been wrongly reported in your credit report or something has not been updated, you can definitely dispute it.

Sussane

gmakerley · Posted: Wed Mar 04, 2009 9:30 am Post subject:

missy, it would be beneficial to you to try to reestablish some favorable credit. you can, perhaps, obtain a small loan from a credit union, a finance company, or even a high-rate, low-reward car dealer if you need a car.
without 3 good credit references, your credit score is going to take quite a while to come around to the point where it would be considered "fair." if you haven't paid off collections, etc. that's going to continue to haunt you also.

Guest

My mortgage company told me I could do a rapid score and raise it to what i need by paying off my last debt on my credit report, I paid it and diputed it, Can the mortage company still do the rapid rescore, if I already disputed it. And now it is off.

jameshogg · Posted: Mon Apr 13, 2009 11:09 pm Post subject:

Hi melanie,

When you have paid it off and disputed it with the credit bureaus, then your credit score must have improved. As your credit score is already up, then the mortgage company will not be required to go for a rapid rescore.

Thanks

fivefin · Joined: 28 Dec 2010 Posts: 10 3.09 Dollars($)

If you're up in the high 500's, there's probably a good chance you have some "good credit" accounts that need fine tuning or "rapid rescoring".

Check your balances and credit limits on your credit card accounts, if your balances are higher than 30% of your limits, then you can increase your scores by paying down below that mark.

Example:
$1000 limit credit card, pay down at/below $300
$500 limit credit card, pay down at/below $150
$300 limit credit card, pay down at/below $90

We can then "rapid rescore" that new balance onto your report which will bring your scores up to put you in a better score position.

This is just one action that you/we can take to bring up your scores, there are other options as well.

bmwplayer151 · Joined: 22 May 2011 Posts: 5 Location: USA 1.68 Dollars($)

I think paying off your old debts is the only way to improve your credit ratings. I f your credit score doesn't improve after paying off the debts then you should arrange a meeting with the authorities.

gmakerley · Posted: Tue May 24, 2011 11:09 am Post subject:

The "Authorities"??????????

BMW where are you coming from? You think someone can be arrested if a person's credit score doesn't increase in a certain scenario? But of course you've neglected to mention that the simple act of paying down a credit card balance isn't the sole reason credit scores will fluctuate.

Contribute, please, in a meaningful fashion.

Guest

Dave Ramsey has a good program that encourages the envelope system. It may sound elementary, but all good budgeting skill go back to this one simple concept. Also, practicing this method may help across the board. Good Luck!

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