How Do I Increase My Credit Score?

Recently I stumbled upon a list of tips on how to increase credit score in order to improve the chances of being approved for different finance products, including personal loans, mortgages, etc.

What do you ppl think?

1) Don’t close all your accounts!

Even if you have the means to pay off your debt, any lending institution is looking for your capacity to make timely payments. To show this, you will need to have payments to make! While it’s wonderful if you can pay a balance in full every time a bill comes in (and don’t we all wish we could do that?) it’s also important to keep at least 1 or 2 revolving accounts open and active.

2) Don’t be LATE! (ok I know this one is probably obvious)

While this could be an ability condition for some (can’t afford it!) others are just not structured enough in their life to stay organized! I have seen wealthy people who JUST don’t keep a good grasp on when their payments are due, or leave their bills to be paid by someone else.

Find a way to organize your debts and your due dates, so you don’t miss any payments!

3) Don’t max out your revolving credit!

For those of us, like me, that can’t pay those bills in full every month – my best advice is to keep your balance at or under 50% of your limit. I have seen this create a 20 point or MORE difference in a credit score! This is BIG. If you DO need to exceed this amount, pay it back down as soon as possible.

4) Don’t EVER exceed your credit limit!

This is also a HUGE factor that can pull your credit score down as much as being past due! Always know what your credit limits are! I keep a spreadsheet that I send every time I make a payment or get in a bill. It’s good to stay organized!

5) Keep an installment loan or two…

Important in credit scoring is a balance between revolving and installment loans. A mortgage, car loan, or personal loan from websites like – 1 or 2 is going to be good. Too many – as in most everything – is not advisable.

6). Those pesky collection accounts!

It seems to happen to even the best of us – that small amount that we thought our medical insurance was going to pay! While medical collection accounts are pretty common – even if you think it is an error – pay it before it becomes a collection – and if it does, pay it right away! You can always dispute it afterward when it is no longer affecting your credit profile.

7) Where to begin to get credit?

If you are just starting out, or just have not used credit before and want to get started establishing a credit profile, I recommend applying for a secured credit card. These can be as simple as investing $200 for a $300 credit limit card. Once you have made a year or so of timely payments, you will not only get your $200 investment back – but you will be on your way to getting a credit score! Just make sure to ALWAYS make those payments on time – and don’t exceed 50% of the limit – and you’ll be on your way before you know it!

Keep these things in mind – and your credit score will be there when you need it!

I am not disagreeing with anything written before

I do not mean for this to sound picky. You stated you had 5 children ‘living at home.’ Are they all HS and younger? I say this because I know a lot of people having financial problems still have adult children at home. I bring it up because the term ‘living at home’ struck me as a little odd. I mostly hear that speaking of adult children.

If they are still HS and younger then I have nothing more to add at this time, however..

If any of them are HS graduates 18 years and older, then this is a prime time to teach them about finances. They need to pitch in, anyway they can, whether helping pay bills from their job, watching the younger ones as suggested earlier or finding somewhere else to live. I know this is harsh, but parents do their grown children no good letting them live at home totally free. Especially if the parent(s) are in a financial crisis.

Every situation is different and every child is different but all can pitch in. Whether it be doing laundry, making simple and easy dinners, keeping the house picked up and things like that. Little things that can keep stress levels down at home so that the parent can face the challenges that the day is bringing. Some second jobs can involve the children like delivering newspapers (a job one of my sons’ did when he was 13) and certainly ebaying/garage selling can include the children in pricing, sorting etc.

If the kids are in elementary school they can still pitch in but I realize that it may limit the effectiveness of how much can be accomplished.

I am just saying, don’t discount the effectiveness of involving the kids, even if they are little. Plus, I think that if you do involve the kids, this will help alleviate fears as you will be showing them that you are working together as a family toward a common goal.

Then again, I could be wrong. Just wanting to offer some additional solutions to someone in need.

Need Help to save my home

I had many expenses in recent months mostly due to medical problems with one of my children. During this time I made terrible decisions concerning my finances. I fell 3 months behind on my mortgage and took out an equity loan which is now behind also. I made arrangements to pay back my mortgage and now cannot pay that.

I also have fell behind on my electric,gas, etc. bills. I cannot sell my house because I have 5 children living at home. My income is not bad, but I cannot catch up fast enough to save my home at the rate I am going. Is there any help for someone in my position? I am too stressed at this point to try to solve this by myself. I would greatly appreciate any advise on this. Thanks very much.

Sorry, I can’t give you much first post here was just a few days ago because,like you I feel so desperate. I know that the people here will give you some good advice. My problems also started from medical bills due to accident my son had.When I found this board, it was such a relief. Even though I wouldnt wish the stress of debt on my worst enemy, it does somehow help to know that you are not the only person in the world in this boat. I just hope to have “peace of mind” at some time but it is hard to see the light at the end of the tunnel. I did several loans myself and paid that ridiculous interest every payday…then in Dec. lost my job and have only sent each place 20.00. Talk about a humiliating experience!

Good luck…like someone told me as far as the bill collectors “they can’t eat you”…not much comfort I know..but its true..feel free to e.mail me for support.

I have not personally been in your shoes so I feel my advise might be simplistic and unrealistic but it might be a place to start. Hopefully someone with experience with this will reply and have better answers.

The first thing I would do is sell everything you can. Clothes that don’t fit right, knicknacks that you don’t really need, books, cds, everything that you can live without. Ebay seems to be the best option to turn a profit and what doesn’t sell on ebay you can put in a garage sale.

The next thing you could do, (with five kiddos at home it may not be possible) a second job can help. A job that you can get tips from is even better. Three or four nights a week for a few months could really turn things around.

Don’t give up hope, people do pull themselves back up from this kind of thing. You and your family will be in my prayers.

RE: Bruce, my husband and I are taking Financial Peace University.

Bruce, my husband and I are taking Financial Peace University. We just finished the 10th week. I can’t recommend it highly enough! A lot of what is covered is common sense but we learned some things we didn’t know, either, and his envelope system has saved our rear ends. We spend so much less on most things than we used to and we’re starting to pay off some very old debts now.

As for staff, I’m not sure what you’re asking. Our FPU class is led by a woman who took the class and wanted to facilitate it for others. She still has some money issues but she’s working on them. 🙂

We read TMMO about two years ago and are reading FP Revisited as part of FPU. The information is excellent and Dave’s enthusiasm is contagious!

There happens to be a Dave Ramsey site which I am member of. I’ve received a wealth of information and motivation from those members. I was also able to “beta test” his newst Financial Peace website about 6 months ago. It includes recorded sessions of Dave Ramsey himself teaching the class and printable copies of the workbook pages as you move along. This was a better course for me to take versus his live courses taught at local churches and community group, although I’ve heard they are good too. Have you had a chance to read any of his books yet? You can attempt to borrow them from the local library, but having moved in the past 6 months, both cities I lived in had a waiting list for them. You can also check out his website and try to listen to his past radio talk shows (can be MP3 downloadable) for free. I also found he has a live show on one of the the business channels, I think its the same one you can view Suzy Ormond (?sp) and that crazy stock guy…Cramer I think. Dave takes live calls and guides you on howto get out of debt. He does practices and believes in a “no credit” lifestyle. He touts that his credit history is horrible because he carries no credit at all and has not for over 10 years now. He is extreme when it comes to that. But he and several of the members on the yahoo group are examples that it is doable. The main idea is to conquer your debt (all of it, car loans, house loans, everything), have the allotted savings and thus retirement, and only pay cash from then on. Yes, even owning a car, home, and education. One thing surprising I learned from him is that when you have cash on hand, especially for big ticket items (appliances, furniture, vehicle, even homes) you have the greatest bargaining tool. He has several examples of this. He also touts on backing off of the “have it now” attitude and take the time to save the money you need in cash.

He does have what he calls baby steps to follow, you can see a printable version of this on and the yahoo group files, and I do follow it somewhat. I have found that being 36 and having a military family, credit is needed for auto insurance, getting kids enrolled in private school, etc., so I still fret about my score, but I do have a $1000 emergency fund (baby step #1) and are more than halfway through our debt snowball plan (baby step #2). We are fortunate enough to not to have a mortgage, but we both had college degrees which mean college loans. But no matter, with his plan, we will be debt free in 2011 and we are talking of over $100,000 in debt.

Good luck to you. I’ve read, and as you should too, read several self-help finance books including Suzy Ormond, etc and have found Dave’s way to make more sense. But as I mentioned before, hit the library or pick up a used on on or your local Half-Price books.

Just my two cents. :)

Well, if it were me the first thing I’d do is stop investing for awhile. Not permanently but until the debt is paid off. I’d work my butt off to get $1,500 to $2,000 for a baby emergency fund and keep the house, cars, and utilities current and every one fed (cheaply) and gas in the vehicles.

You don’t say what your rent/mortgage is or whether the debts (lawyers, medical, tuition, lease fee and the dumb credit accounts) you listed are being paid on or languishing. If they aren’t being paid on, where is your money going?

Do you need all three vehicles? If not, sell one or two of them and put that money first into the emergency savings and then into debt. Just my two cents. 🙂

We have the emergency fund, and the house, cars, utilities are current. (Except for last month when the heat bill was HUGE and I paid half one paycheck and the other half now.

Rent is $2100 (ouch) for which my mother contributes $600 in exchange for room and board. Being a large family, housing has been tough and we are stuck in this location because of ex-spouses/custody limitations. Groceries are the bane of my existence – $250 to 300 a week to keep three adult and five growing teens fed healthy. And gas @$3.50/gallon and rising…. We bus to work.

I am paying small amounts on all debts and focusing on one at a time to make larger payments, but getting discouraged. We need two of the cars – SUV to accomodate the whole family for church and such, and one smaller car for driving to the park and ride for work and errands (SUV drinks gas). I am trying to dump the other car, but it does not seem to sell. Kids being teens will want to be driving soon, and I also don’t want them driving the SUV (too big, too easy to roll, etc).

I would get in touch with the student loans now, and make some sort of arrangements. Because they can and will come after you with a vengenance, and they don’t care about other obligations, they are getting very aggressive. But if you get in touch with them now, there are things that can be done.

As far as where money going – last month:

Gasoline: $460 (we did take two road trips because my father passed away last month – so probably an extra $200 there that was not usual) Insurance (auto and renters) – $160 Car payments – $480.

  • Clothes: $34
  • Debt: $300
  • Tithe: $600
  • Entertainment – $274 (ugh)

Eating out (including kids school lunches) – $360 (ugh) $120 is kids lunches
and probably another $100 is the road trips to my dad’s – McDonalds even
adds up with hungry teens. Ate at my sisters as much as we could, but felt
bad with adding 7 people to her bill.

  • Groceries – $1082.32
  • Presents (easter) – $15.25
  • Rent – $2100
  • Maintenance for house – $31.52 (we had to purchase a drill to weather stop a
  • Personal Care – $24.25
  • Savings – $460

And I’m spending about $1300 more than I took in….. somehow we squeaked
through…. Help and bother. I can see where to cut out entertainment, but
I tried cutting all of it out for about a year and heard great depression
among the troops. Eating out – I tried making kid’s lunches and was so
exhausted at the end of the day after making 7 lunches and it cost about the
same as the $2 they pay. Groceries…. I cook healthy as much as possible
(hubby diabetic), but purchasing meat is killing me. I don’t have a
freezer, so buying a whole cow at a time has daunted me…. Groceries = $250
to 300 a week with meat – $170 without. I don’t make mac n’ cheese and top
ramen (the cheapies) because the high sodium and junk food not good for
hubby (heart disease and diabetes).

Gas and electric is not usually that much – this is a new home for us and we
had the heat running while moving in / out for two houses – could not freeze
grandma just out of the hospital. It should even out to about $100 or less
over the summer). But winter kills!!!!

  • Garbage collection – $30
  • Gas / Electric – $390
  • Internet / home phone – $157 (high speed internet at home required by my
    job, but they don’t pay for it yet, and I had to pay for moving Comcast to
    new address)
  • Cell phones – $25 (my work pays $30 of my cell phone bill in exchange for
    owning my soul 24×7)
  • Water – $60

Internet and phone are killer and we have no cable TV. Comcast bites!!
Qwest was no better. We could do without the phone, but the kids and
grandma need something to dial 911 when we (and the cell phones) are not

I “borrow” from savings to make stuff work most every month and feel
guilty. Something’s gotta go!! Help!!!! The other thing that scares me is
that hubby’s work is not altogether dependable, as he is sick a lot and
usually out of sick leave / vacation. (Had surgery recently and had to go
through FMLA papers so he would keep his job). We need to be able to live
on my income, as I am the healthy one.

Somehow, we survived on a lot less money too, because I made half as much
last year. I honestly have no idea how we did it!!!!! We never starved and
kept the utilities / rent paid up.

There are no “minimum” payments on our debts that we can even expect to
reach. The student loans are in deferment (?) but the payment is about $700
a month. Everything else is “due in full NOW.” (Yeah, right!)

This is an illusion and people will get taken in by it…

This is an illusion and people will get taken in by it. Oil prices are being held artificially lower until after the Fall election through the release of emergency oil reserves. Then watch out for the heating season when they plan to make it all back in spades. Best to stock up now and save for the eventual. Many economists expect gas to go to nearly $5 by next summer, especially if we have a go at it with Iran or Venezuela – both likely scenarios.

When I heard them saying that on a morning news show I thought how stupid and who put them up to saying that ? I’m reminded of something my Mom used to say where her children were small “A fool and his money are soon parted” I should have listened to my dear Mom! I’m improving though!

We should all be so embarassed 😎 When I was 45 I asked my dad for a loan that I KNOW he could have afforded and said he could not give it to me. A very good friend came through for me and I was able to keep my house. Sure it might be embarassing, but if I had relatives who could help, I would ask. I understand that is what family is all about (I put it in that way as not my family).

And if you’re into ‘subliminal messages’ TARGET’s new ad has a rock song style singing: “Don’t stop livin’ in the Red” so even though their trademark colour is Red, “Don’t stop livin’ in the Red” can also be “Don’t stop owing to the card …!”
I am working on climbing our family out of debt, but feel like I’m not
getting anywhere.

We make $5700 a month, approximately, to support a family of 8. I
spent a year being so tight that I squeaked with every step (made our
own laundry soap, bought absolutely nothing, etc) – and got really,
really tired of that.


Car payments – $480 a month for three cars. We had one sedan each when
we married 18 months ago and had to purchase an SUV in order to
accommodate our new family size after marriage. I am not sure of the
balance owing on two of the cars – the loans are through my
father-in-law. My Chevy Aveo has 4,294.87 owing on it.

Student Loans – $53.913.93 that I know about (my husbands). They have
never been paid on because he ended up with health problems and too
many kids and a non-functional spouse right out of college. I don’t
even know where to begin with them.

Lawyers – $2220.99 that husband owes for custody of his kids and another $8,900 that I owe for custody of my son (trial still pending, so that is due to increase). I do get $480 child support a month, he gets nothing for his kids.

Medical Bills – $3,000 or thereabouts. I have been trying to sort out what we actually owe and what collection agencies are double-billing us for, etc.

Tuition (for me) that was supposed to be reimbursed by my job and was not – $1185.57

A lease fee for an apartment that became not safe for me and I had to flee (related to the ex-spouse) – $1445.04 + whatever exorbitant fees that I stopped keeping track of.

A couple other miscellaneous “dumb” credit accounts (Dell and a Mastercard that I am paying off with savings) – $1000

I make sure we put money in savings with every check and fund our 401K plans. I have done nothing about college funds, but our kids are 10-15 and will need something soon I suppose. We also make sure to tithe.

Currently, I am attempting to put 10% of our checks into debt, but it always seems like we are robbing Peter to pay Paul somewhere and I get discouraged. Help and bother!!!!

I have some questions for you

  • Do you also have credit card bills?
  • Is the daughter (who moved back) a college graduate?
  • Does she work full time?

I have some questions for you, so I and others in this blog can get
a better understanding of how to help.
As the more significant thing, if she is still living in your home, how much the bills do you make her foot? After all some of it should be her responsibilty as an adult (it would be if she lived somewhere else) She can be helpful, knowing that if she isnt, she won’t have a place to live soon either.

What other annoyances happened that caused this major mortgage problem. For that amount of financial stress, my intuition tells me they were more than just little annoyances. There is plenty of great advice to get here at this blog -it takes guts to seek help and advice for financial problems. Most of us have been there and can relate!

Well, that’s similar to the message I have been hearing on the news.
Now that gas prices are down consumers will “help the economy” and buy more.

The price for regular in this area is still $2.84. That’s better than over $3.00, but still high. Even if gas prices dropped drastically, I am not going on any spending spree.

I helped the boy scounts this moring and stopped at thier yard sale. Got a brand new desk lamp for $4.00. It actually takes a 100 watt bulb, unlike many new ones that only take 60 watt or less. Also got some good hardback books.

There have no credit card bills! We paid them off and cut them up when we bought our house almost two years ago.

My daughter just finished her first year off college. She went out of state to attend college. She was like every child and couldn’t wait to get out on her own. She missed home more than she thought and during spring break came home to visit and mentioned she wanted to move back and go to college locally. The few weeks following spring break two girls had been raped. The last incident made my daughter hysterical and we had her on a plane the next day. My daughter is working now, but is trying to stay under full time so we can keep her on our insurance and we won’t have a problem when she returns to college.

As for the annoyances, before my daughter came home we had issues with the septic tank that used what savings we had and then some. There was then the plane ticket to bring our daughter and her belongings home, then my other daughter needed all four wisdom teeth pulled, then my son decided to peel the stripping off the refridgerator door and that had to be replaced, then add the fact it’s summer and utility bills just about doubled and being one month behind they are astronimical, out of state family visiting and we had to keep groceries in the house…….see where I’m going with this? lol

We haven’t been spending our money foolishly, just a series of things one on top of another and now school has started and we got the must haves to get them in school. We are now three months behind on the mortgage and juggling utility bills to keep them on.

That’s my story in a nutshell. My husband is employed and makes a good salary, we were living paycheck to paycheck fine and able to set aside money for our savings. It’s just difficult to build an adequate savings in less than two years. The little annoyances aren’t bad when you have a savings but when there isn’t anything there……

We have thought of borrowing money from family but at 40 and 45 years old, it’s embarrassing. We sit in this beautiful new home and I’m sure somebody would be rolling their eyes at us. I’m positive at this point our credit is ruined and haven’t even bothered going to a bank to see about a personal loan. The house being less than two years old has no equity, anyways.

Re: Hi, how is everyone? I’m Emily & I’m new.

First off let me say I’m sorry you lost your father and from experience losing a parent last year I can first hand tell you it can cause you to be out of sorts and not think clearly with the bills and budget. I found myself getting behind on a few bills and just plain forgetting about a few it was like they simply vanished from my mind. That can pose a problem so if your DH or mom or someone can help you work with the budget and help you stay on top of things so you dont forget or overlook something that would be a plus. I dont know but thought I read you have 3 vehicles? if so, are you paying on all of them or do you own one or two of them free and clear? I would look for a way to pare down the car payment(s) if you can. Since you are a large family and have teens, as I do, I’m guessing some are driving or learning how so you really probably do need 3 vehicles but maybe you can trade down or sell one and buy an older model that you would’nt have payments on etc. Your debt listed at 300.00 I’m guessing is credit card debt or misc. debt? See if you can get your interest rates lowered first off. If not, double up on the lowest one the one you owe the least on and pay it off asap then take that payment and apply it to the next one. I think

suggest this idea but in opposite? and instead doing it with the one that charges the most interest? I dont know, but for us here, paying the lowest debt off first has helped us tremendously and then taking that payment and applying it to the next highest debt. For whatever reason its helped me to feel I’ve accomplished something and I can see it. Also if you have credit cards that charge annual membership fees get rid of them if they wont waive the fee. If they wont waive the fee close the account and pay on it until its done. Take that annual fee and put it to something else. Tithe? I’m not sure but I’m thinking you are donating this? or are you receiving it? If you are donating, then stop. Its nice to want to give to the church and so on but if you are struggling to survive there is no point in it. You can still give but on a much smaller scale. God does’nt want you in debt or defaulting on your debts so you can give money.. you are supposed to pay your way and pay your debts and if you cant donate then you cant donate. There will then come a time when you are in a better situation and you can donate without struggling. Your entertainment costs look a bit high but again I can relate with having teens and all but facts are facts. It may call for a family meeting where everyone decides together what is good enough for entertainment and what they are willing to go without.

Even if you shaved 100.00 off of that, thats 100.00 that can go in the gas tank or someplace else. I always try to look at things from that perspective. If I can save xxx here I could use it over here instead. It helps me get my priorities straight sometimes and put my money where it needs to go. If you guys dont frequent your library for DVDS and stuff try doing that. Our library has become quite the place for DVDS so thats an option and if not or along with, get a blockbuster or netflix membership online and rent your movies that way. You can more then cut the cost of tv/movie entertainment in half by doing this. I dont know how you pay for the entertainment or what entertainment it is but if you have teens I’m guessing there is alot going to them for “their entertainment” like movies at the mall or things. That may have to stop for a while or you may have to agree that each kid gets a 10.00 movie gift card to the nearest theater and thats it for the month. They will then have to start choosing and deciding what is more important and where they want to spend that money. I think you might be able to shave last months entertainment costs in half without much pain. One of the only other places I see you could cut is of course the grocery bill. You spend alot on that or you did last month anyway. Its very easy to do especially with teens.
I noticed in another post you wont cook with ramen and things for you DH’s health reasons but you may have to make some changes and start using the cheaper things and work a little harder to find recipes that you can use them and make them in a more healthful way. Your DH may have health problems but your kids dont and they wont die from eating some cheaper foods occasionally and I’m sure they do at their other friends houses if they are like any of the teens I’ve known and know. You mention McDonalds not being cheap with teens- you are right, but if you are willing to feed them that then you should be willing to feed them cheaper things from the grocery store as well. You may have to make them one thing and make another for your DH but making them something else might afford you the way to keep your DH eating what he needs with his health conditions. As for school lunches I agree.. you might as well let them buy their lunch because anything you have to buy to make them all lunches you are going to spend about the same and lose precious time shopping and making the lunches in the long run as well.

Its cheaper to give them 2-3.00 a day and let them eat. My own DD who is 15 1/2 pointed this out to me just the other day. She and I have come to a compromise because one day a week her and her friends like to go off campus and eat out- which usually means a 5.00 lunch or more. So if she wants to do that she has to take a lunch a couple days with what we have here which is usually pbj. I give her 10.00 at the beginning of the week or half on Mon. and the other half on Weds. Its up to her to make it work. She prefers it this way now. Now my last point you put 460 into savings last month? This is good but if you are behind or struggling you may want to try and divert some of that to debt. Some will argue with me on this but you are behind because the student loans are in deferment first off. You need to call them(Actually your DH needs to as they wont talk to you if they are not your loans)they do have plans and eventually the deferment option runs out.. I know.. we’ve done it. If you can afford to put 460 into savings then maybe you only put 260 into savings and tell them that you can at least start paying 200.00 a month. Its a start. They are more agreeable then any other debtor DH or I has ever dealt with. You can put all you want into savings but you said in your own words you took it back out

> I “borrow” from savings to make stuff work most every month and feel
> guilty.

You are trying to put too much there and you cant afford to do it if you have to keep taking it back out

Lastly.. eating out can go altogether especially with what you are spending on groceries as it is. You are just going to have to work at this and it involves  lanning and it involves everyone in the family understanding what is going on and what needs to be done to get back on track.

Don’t worry about your creditors

Don’t worry about your creditors. I don’t. We had 42K in cards ALONE. Throw in another 20K for hubbys medical bills and you can see you’re not alone being in debt. We have been in a debt elimination program for 2 years now, and are slowly getting out of the hole we dug for ourselves. So far none have threatened to come after me, just that they were going to check public records to see if I had any assets. I don’t… anyways I think it was a scare tactic. If they start to call and harrass you, you can contact the PFDC, and they will send you a creditor log sheet to log the calls. I am not sure if you have to be in a debt program for them to help. I personally changed my phone number. Good Luck in getting out of debt.

I’m new to the GammaInternational also and I’ve been following the responses to your first message. There is good advice given in each one. I’ve learned that everyone’s situation is different, yet we all have one thing in common, DEBT, and the only way out of debt is to make some money to pay it off. Taking care of your grandmother is a good and noble thing for you to do, but it pays you nothing to help you out of your current situation.

If your grandmother needs care with her ADL’s, then there are other options for you and her both. She maybe eligible for in home nursing care through Medicare/Medicaid or her private insurance. Enlist the help of other family members to take shifts while you find a job. You’re only 21 and at this stage of your life, you should not be burdened with debt or the care of an elderly relative. Watch this video to find out more:

Your situation is not as hopeless as it seems, but you are the only one who can change the direction in which it is going. Be encouraged and know that there are so many other people, myself included, who are struggling with debt, but are taking control of it by making choices that will have a positive impact on their finances. I wish you all the best in the days ahead and I’m here if you just need to talk.

Hey, I’m also looking for a place to start getting back on track. My husband and I bought a new home two years ago. That’s where our trouble started, we used the profit from the sale of our old house and our savings to put donw on the new home. We had figured with his raise and bonus we could rebuild our savings. There has been no one major event leading to our troubles but just a series of little annoyances. My daughter decided in June to move back home from college and with no savings to bring her home, I took that month’s mortgage payment and used it. Things have snowballed.

I now owe three mortgage payments, have shutoff notices on the utilities and back to school expenses. I’m on the verge of having panic attacks thinking I’m starting another month worse off than the previous month. Where do I start? I’m scared to death of waking up one morning and finding a foreclosure sign in my front yard but not being able to read it because the electricity is shutoff.

Taking care of your grandmother is a good and noble thing

Hi, how is everyone? I’m Emily & I’m new.

I joined because I am so desperate… Money has me so down I just want to die.

I lost track of my debt since it’s too troublesome and too depressing to make an effort to keep tabs on… it’s somewhere between 7 and 10 thousand. I haven’t made payments in a year or so, and that was on the consolidation plan I had then. I’m only 21 and now I am crewed for life and have no way to go to college or maintain any quality of life. I need a loan but it seems like to get one I’d have to give my legs for collateral. I need help. I am SO desperate! I want to know that there is something out there to help me somehow and I want people to help me figure out what.

Well anyway, this is me. In a busy group it’s hard to keep tabs on messages. There are too many, especially to a busy person like me.
But I try when I can.

Well I don’t know what else to say. Thanks & bye for now.

Let me tell you a little about me because I know how you feel. I live in New York and since the towers fell the employment market here has never been the same. I have been out of work now for almost six months and no prospects are on the horizon. They keep saying that its getting beter but there are so many of us out of work.Work was how I identified myself. But since I have been unemployed I ave found that the 9 to 5 is not who I am. I have discovered new and old interests   have forgotten. I keep searching because I still have to eat and pay rent and uch and I don’t know what else to do.As for you I think like the other memeber of the group said worry about the creditors later; do you and your granmother first. If you feel the need, contact your creditors in writing and tell them your predictament and see what they offer. If it is still something you can’t manage let them know that in writing and then let go and let God. Your focus should be on meeting the essentials (food, light, heat, housing etc.) and getting on your feet.I think expressing yourself here is a good thing to do because when you talk out loud about something your worried about it doesn’t seem so big anymore.

You’re in my prayers and keep writing to the blog I think it can be
a good resource for us both.

Is it possible to really repair your credit?

I’ve been a member of this blog for some time now and I am thankfully to read each new post and reply because they hold some small shimmer of hope for me. I am 34, married with four children. I have been out of work since Jan. 2007 and my husband just filed bankruptcy (ch.13). I did not file. In 1997 I had a discharged chapter 7.To be quite honest, my husband and I have a rocky marriage at best.

And I really feel like I need to concentrate on becoming a more responsible adult and clean up my credit so that in a year or three from now I’ll be able to have nicer things for myself / my children should my husband and I divorce. The only problem with that is … I don’t even know where to begin.

In 2006 I had my youngest son. My husband never turned in the paperwork to have him added to our insurance so … now I have a HUGE dr. bill on my credit report. In 2001 I had emergency gall bladder surgery THE DAY my health insurance kicked in. I have been trying to get that paid for for… years to no avail. That is alone $10,000 or better.

There are a lot of small items such as utilities (all the bills are in my husband’s name) and I do have one auto repossession. They want me to make payments on a $4000 – $5,000 debt on the car (the majority of which is INTEREST). Other than that, that’s all I have on my credit report.

I would like to lease a vehicle within the next year but I don’t even know where to BEGIN to clean up my credit. I have had a very hard time getting my credit report from Equifax and Transunion. They ask security questions that I honestly don’t know the answers to and then when you call their customer service department you get someone from India or Pakistan and you can’t understand a word they say nor can they understand you!

I know that my highest credit score as of three weeks ago was 569 and my lowest was 498 – luckily I just applied for a loan and they were nice enough to give me my scores.

Is there hope for me?? If I go back to work within the next month is it possible to get these things paid down quickly (yay economic stimulus package!) and nurse my credit score back to health? If so, are there any suggestions for doing so??? I’d like to try and lease a car by winter for dependability issues.

Thanks for your help and advice in advance. You guys are all great!