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Ten years ago my investment broker took me for everything I had. I fell apart mentally and emotionally went off the deep end for a couple of years ( bad checks,charge offs medical bills ). Now for almost seven years I have had no credit activity except medical. Do I have any hope of reconstructing any kind of finiacial credit activity again. I am 57 years old now.
T jeffries 09,
YES, you do have hope. First of all if seven years have passes then most all your debts should have fallen off your credit report, which is great. I would like you to pull your credit report and take a look at it. You can get a free copy at www.annualcredit report.com. Look and see if there are any remaining debts. As long as there is not a list a mile long you could begin to rebuild your history by applying for a store credit card. It is not a process that will happen overnoght but it will not take forever either. Let us know what is on your report (any bad debts) and we can figure out where to go from there.
Hi tjefferies,
Of course you have hope. Pull your credit report and check for any inaccurate listing. If this happens you must dispute it with the credit bureau. The good news is that 7 years have passed and hence most of the negative listings would fall off. So now you have time to build good credit history.
Start by applying for a secured credit card and use it properly by paying the bills on time. You can also apply for store/gad cards. You may also try and become a member of any of the credit unions as well. Try these and I hope that you will able to build a good credit history.
Gas cards are a good way to rebuild credit. We all have to buy gas regardless of who we are. If I were you I would purchase my gas through the card (at least a couple tanks a month) and then pay it off. Do you by chance have anything that is reporting on your credit history on your report? Let us know and do not lose hope.
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Well I fought the situation for about 3 years. Until 2004 in January when I broke down completely. There are about 6 charge off credit accounts, 1 paid off revolving account, 1 auto loan extended about to be paid off. The Credit card accounts are duplicates of 3 accounts that have been sold off. Two currant past due medical accounts from time before I had any Health Insurance and now days quite a few Insurance co-pays most of which has been paid up to my deductible. I feel so sorry for the many people getting ripped off on their investments; this is what we go through. All of the negatives date to January of 2004.