well, collection accounts are still debt and far worse than regular credit card balances - You have to pay off the collection accounts or you'll never get a mortgage or car loan or a credit card. What, did you think by ignoring them they would just go away - they can still try and sue you or get your wages garnished thru a court judgment - what do you mean you goal is not to spend money or go into debt - YOU ARE DEEP IN DEBT - $6700 worth!! your score will never get above 600 if you don;t pay off those debts and take responsibility for your spending
by Zarg222 - 19 minutes ago
You can get a orhcard card and first premier card with those scores. They both have yearly fees but they will also help you get some positive trade lines on your credit report. When you get accepted ( acceptance rate is around 90%) just use them for small purchases and keep the utilization below 35%. Do not max these cards out and do not go over the limit. i.e. your initial limit will be 300$, you will want to keep you balace below 90$. Also you need to dispute the neg. on your credit report. I have done this recently (even though i owed the debts) and had a bunch of collections removed. My score went up 75 point. There is a good method that you will see good results with at http://www.creditforums.org/f13/got-my-results-today-disputes-346/ Using this method will give you the best opportunity to get negatives removed. It is posted on a free forum so there is no cost to you. Oh and those cards I mentioned above can be found at http://creditcardwarehouseonline.com (the orchard card is the better of the two and is on the front page)
by Jason S - 19 minutes ago
OOOH! I am in the same situation. I, too, am looking to buy a house in about a year. I was about 4000.00 in debt. I contacted a non-profit debt consolidator and they gave me many options on how to push my credit score up. The one that suit me the best was: To contact the Collection Agency and work out a payment plan with them. Because it was hospital bills, the hospital was willing to work with me. I told them that I could afford about 50.00 a month. And that's what I'm doing now. Every month, I send them 50.00. The good thing was that the social worker at the hospital realized that I was making CONSISTENT payments, so now my debt to the hospital has gone down to 1800.00!!! If you work with them, they will work with you. Good luck!
by adri_mndz - 19 minutes ago
Almost sure that you will find all financial answer at= loanhome.info- RE How do you build your credit with a 566 score? OK, pulled my credit report, my total debt is $6700.00. Thats it. I have no bankruptcy, no credit card debt. Its all collection accounts. I applied for a credit card and was turned down. I dont want to do it again because it allready showed up on there. Now, In two years I wish to purchase a home , and build my credit file. How do I do this cheaply , quickly and effectively? Ive been told I need to raise my score 84 points to get to 650 which is a good rating that will approve you for almost anything. Is this true? My goal is not to spend money or go in debt, my goal is to build a good file in the next two years(or sooner)
by Abbye - 19 minutes ago
You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL: http://www.creditscoresecret.org I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!
by ? - 19 minutes ago
Unfortunately lending companies and credit card companies are making it hard these days for individuals to borrow money and I think it may be due to people filing for bankruptcy in record numbers and the number of home foreclosures. You did not mention why you were turned down, so I am speculating that you think you were turned down based on your credit score, however, I would consult with the credit company you applied to, in order to find out the reason why you were turned down, you have every right as a consumer to know why you were turned down. Normally, companies will send you a report with the reason(s) why you were turned down. Also, like the others responded, in order to strenghthen your credit score you our going to have to make small purchases and pay them on time and with the current debt you owe, you need to pay that down as soon as possible making timely payments.
by Truth - 19 minutes ago
you have been turned down for a normal credit card try getting adverse credit cards for people with no credit history or bad credit history. The interest rates are high but it should help you get a goood credit history. Not sure if you are in the UK or US, try capitol one they have cards for people with no credit history pay off all other loans or credit that you have, make sure that you use 25%of any given credit that you have
by Bugsy - 19 minutes ago
pay the collections off andyour score will slowly rise. Once that has happened then get a credit card and pay it off monthly and your scores should soar
by golferwhoworks - 19 minutes ago
By getting a credit card and using it for a small purchase (ex. $100). and then just pay the minimum each month on time, that will look good on your credit report and it will help raise your score.
by blueeyes - 19 minutes ago
you have to get more credit cards but dont use them, just take out the card and then put it away it should raise you score
by austin - 19 minutes ago
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