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How can I increase my credit score?, I have lost a house with two loans companies in that house plus I have a debt with a credit company And I can not pay any debt for lack of work.
If I have other credit cards and I'm still paying regularly, it is possible that my score continues to rise?? :roll:
yes your score should continue to rise, you will build a good credit history by paying these bills on time. The old debt will fall off through time, they take about 7 years altogether. You will start seeing your credit score rise as these fall off. How long ago did you lose the house? and how old is the other debt that you mention here?
You should register with the forum, you can have a lot of people helping you out here as we have all experienced some type of debt problem in our lives. hope you decide to register and let the members get to know you and help you out.
Since you are making regular payments on the credit card debts, the score is likely to improve because repayments of debts regularly helps you to build up a good credit score. But you should also take steps to start paying on the credit card on which you are not at present paying off, because if the credit card company charges off the debt, your credit score will further fall.
Yes, your credit score will rise since you are making regular payments on your existing debts. But as Mary pointed out, you should also pay off the debt which you are not paying now. If you do not pay off the debt, and it gets listed in your credit report, then instead of improving, your credit score may fall further. Again if the creditor brings judgment against you to recover the debt, it may badly affect your credit score. You can contact your creditor and come to a settlement plan which you think you can afford to pay. Moreover, since the interest charges on the credit card debts are high, you can go for debt consolidation loans which will consolidate all the credit card debts into a single loan account.
house
I would like to raise my credit score to buy a home. What is the best way to do this. Is it posable to do this in a month.
credit
Well, MAD..this really depends on how much debt you DO have, how many 'Negative Listings' on your CR, etc.
Hi Mad
For buying a home, you need a credit score of 720 and above. However, raising a credit score to that level is not an easy task if you have a bad credit score. It is not possible in a month because you need to build up a good credit history which takes time. If you really want to improve your credit, you need to have patience for a year or two. There are discussions in this forum about ways to build up your credit score. If you follow them, you can really build up a good credit profile.
You may be able to go through a mortgage company to get a home loan. When we first purchased a home we did not have the best credit. We had to pay a higher interest rate but once we had our credit back on track for a few years we then transferred our loan over to another lender and got an excellent rate.