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Need Help Repairing My credit and don't know where to start...Really would like to buy something.

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September 05 2011 - Myrtle Beach
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Answers (6)

Here is my suggestion.  Most of the companies that offer a paid service really don't help you - but they gladly take your money!  You need to pull your credit, or have a local lender pull it and give you a copy of it.

There are many factors that are considered with credit scores and how each individual is scored.  Some of the main factors you will need to consider when rebuilding your credit are:

-  How many open active and positive accounts do you have currently?
- current accounts are the only thing that will INCREASE SCORES

- How much of your credit that is available to you have you used?
- For example if you have a limit of $300 on a credit card, how much of that credit limit have you used?

-  Do you have unpaid collection items, judgements?  You will need to work towards paying these off - but paying them off will not increase your scores

Educate yourself.  Google search and learn.  You need to barely use any open credit card accounts.  For example, if you have an open $300 limit credit card, never exceed $20 worth of spending of the card.  The purpose is to show a "limited' use of the credit made available to you. If your balances are high, pay them down and your scores will come up automatically as the cycle of reporting takes place.

Good luck. 
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March 12 2013
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March 09 2013
Hi Aimee,

There is a non-for-profit that I've been referring a lot of people to.  You'll find it's a wonderful starting point.  AND bum bum bum bum... IT"S FREE.   Yep, paid for with your tax dollars.  And everyone that I've referred to them have had great things to say.    Feel free to get in contact with me and I'll make the referral.   That is definitely where I would start.
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September 12 2011
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Hi Aimee,
You CAN pay somebody but make sure that they can help you and have the credentials as well. In any industry you are in, there are good and bad companies. Definitely in credit repair there are more bad than good. I would do your own research first. Here at [websites removed by Zillow moderator], we do not have a cost until we have seen a current copy of your credit report and are able to help you. Each file is on a case by case basis.





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September 12 2011
Hi Aimee, first word of advice do not pay anyone for credit repair. These are often ripoff artist who will take you money and do little if anything to repair your credit.  Speak to a loan officer who is willing to work with you for the long haul. I frequently speak to people who need to work on their credit for 6months-1yr or more before they are rerady to buy a home. 
I dont charge for this and only make money if someone but a home and gets a mortgage. Remember you did ot get into credit trouble overnight and you can't get oiut overnight. That said, alot of what you may read about credit is two fold and you need to decide which side of the table the author is  on. What I mean by this is there are people who speak about getting out of debt and cutting up all your credit cards to be "debt free". Thats all fine and good if being debt free is your goal.   However if buying a home is your goal you need to "build" your credit and it is an entirely different process.Best of luck.
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September 06 2011
Profile picture for wetdawgs
Welcome to Zillow.

Here's a link to the Zillow discussion guides on credit.
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September 05 2011
 
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