Need To Improve Credit Score

Mar 222011
 

Hello Everybody,

 

Well my name is Lily and I am here because I need advice on impoving my Credit Score.

My parents are in DEBT and they are loosing our home the only hope we have is Refinancing, My father wants me to give it a try. I am the only one with a Decent Credit Score.

 

My Fico is 585.

 

The only problem is that i have credit card debt, i have never been late or missed any payments. the problem is that i have used more than my 30% on the cards.

I am carrying a balance on probably 10 cards.

 

Recently one of my dogs got sick and we couldnt affor the vet bill so i applied for several cards and i believe that had a negative impact on my credit.

 

can someone give me advice on how or what will help me  improve my credit.

 

Thank you very much.

 

BTW: My total debt is about: $7,000 (credit Cards) and i have an auto loan of ($19,000)

Best way to take care of a judgment

Aug 142010
 

Right now my scores are 628-653, and hopefully will go up a little as I’m hoping a past creditory will erase a couple old “30-day lates” that are showing on my report.  The only problem my loan officer saw was an old unpaid $3700 judgment which I need to get taken care of.  I don’t have the money to pay it all off at once.  What would be the best option here:

Borrow money from a relative to pay it off now – I can’t think of a down side to this

Try to get a personal loan from my CU to pay it off – is it a good idea to take out a loan while househunting?

Discuss monthly payment arrangements – I don’t think I can close on a house with arrangements in place, I’d have to wait until it is PIF, is that right? 

 

Would any of these options somehow drop my score?

 

I want to take care of this with the minimum damage to my score, although I think I could still qualify for USDA with lower scores.  Would my score go up once this is PIF?  Or would I have to ask them to consider deleting the record in return for payment?

Related Blogs

Should I Cancel my First Premier

Jun 302010
 

I have a first premier card that served it’s purpose for a while but I’m really tired of paying a 7.00 a month servicing fee and a 48.00 annual fee I don’t use the card at all. The only problem is this is the card with the longest payment history. I have 1 other card that is just about as long and a few others less than 12 months old all of which have never been late. Will closing this card hurt my score or should I just suck it up and keep paying these useless fees?

 

 

Thanks,

Tim

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