Anyone have any experience or ideas to fix my own credit?

[TimeForWasp]

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[R8RFAN]

Originally Posted by Hog Farmer

I not talking about shit from Walmart. When's the last time you bought a new car with cash.

Don't buy a new car IDIOT, if you have to finance a car you can't afford it IDIOT!

[R8RFAN]

Originally Posted by Hoover

I'm a Ramsey fan, but Hog Farmer is right.

I own my own business and I need access to credit. I use Ramsey's principles, but I also make sure I still use my credit cards to make sure I maintain my excellent credit rating. For the most part I pay everything off at the end of the month. I have some ) interest stuff that I let sit and instead pay off ofther debt first

If you pay it all off when it comes in thats not borrowing... Obviously you can do that because you are not an ignorant fool that wants to be a slave to the lender the rest of his life...

Good for you

[Saul Good]

Originally Posted by Bill Lundberg

no, they do not

I looked into this, and some do. AT&T does. Sprint and Verizon do not.

If you have normal bills, between youe utilities, cable, phone, insurance, mortgage , etc., you are on the map somewhere.

[R8RFAN]

Originally Posted by Dayze

that. not sure if you have decent credit and wanting to improve it; or if you have a lot of debt and are looking to pay off/get rid of it and improve your score.

since our foreclosure last year, we've paid off 2 credit cards, and i paid off my car last month.
this time next year, I should have my motorcycle sold, and probably another credit card gone.
by August of 2012, we shoudl only have 1 credit card left (hers); which, using all the money freed up from the other 'payments' should be paid off in 5-8 months. Looking at 100% debt free by end of 2012/early 2013.

at that point, I won't care what my credit score is. the only time I"ll pay attention to it is in probably 12 months leading up to buying anoter house in 7-10 years; on a 15 year note as R8Rrs said. then...back to not giving a F what my credit score is.


but...to answer your question; start by making your payments on time.
Get to the point where you have at least 12 months of on-time payments.
Pay attention to the amount of debt vs. credit limit on a card etc. I can’t remember the exact number, but you obviously want it low; like 20%. (that seems to ring a bell with me, but not sure)

If you’re having problems making monthly payments to your creditors, CALL THEM to see if they'll work with you. We're currently in 2 payment plans with credit card companies; they've dismissed a ton of interest and fees as long as we continue to make X payment each month for the agreed upon time. One plan lowers our interest rate incrementally as we make our way through the plan.

we spoke with several 'debt' repair places/consolidation etc...never got the impression that what they were offering was of any real benefit. Most of them stated they would take a monthly payment; pool the money and try to negotiate a lump sum payout to a creditor, then build up the money pool again/repeat etc. meanwhile, you're not making payments to any of the creditors, therefore incurring more fees - and depending on how long this goes on, it's possible to end up in a scenario where you're getting sued/garnished...even though you’re still in the ‘debt recovery program’; while the debt company has been getting all your money. Not to mention most of them had large 'fees' as part of their program etc.


The fees/interest on the unsecured stuff got so large we couldn’t afford the minimum, therefore more fees etc…
It got to the point where I told the credit companies “Look, I don’t have the money; I have $X, but I don’t have what you’re asking. If that isn’t good enough, then I’ll use it to pay someone else; you’ll get nothing. I’ll file for bankruptcy” etc.

Not long after that we got into a payment plan. It’s a little painful because of the monthly amount, but the amount they forgave in fees and interest is more than worth the temporary cash flow hit.



…sorry for the rant.

only thing I disagree with is the part about calling the creditors to get them to work with him...

If he is already up to his ass in debt, why does he want to improve his credit? to get further up to his ass in debt? So when he dies he leaves a couple hundred thousand out of his kids/wife insurance money they have to have to live on since he is no longer there?

The absolute only thing in this world that I would finance is a home that was a 15 yr note with a maximum payment of 25% of the take home pay a month....

[R8RFAN]

Originally Posted by kcchiefsfanGoJC

I'm pretty familiar with DR, and I think even he realizes the importance of credit, you have to have good credit when making purchases like cars or houses. Let's be honest not everyone is capable of paying cash for purchases like that, so in these instances good credit goes a long way. I can honestly say I follow DR's guidelines pretty well, but I take advantage of CC's, I never carry a balance, and I get cashback rewards, and my credit score continues to go up.


*I do agree with R8ers in the statement saying if you don't have the cash to buy it, then you don't buy it. When you start playing with fake money you can get into a world of hurt.

I use perkstreet.com I buy everything with my perkstreet visa card, pay all my bills with it, and for every 50 bucks I spend with it they give me 1 dollar back , it is a debit card only
1% if you have a balance of 1-4999 dollars 2% if over 5K
No fees no gimmicks

spend a thousand on bills a month? 20 bucks comes back to you

Credit card companies are scum of the earth and will destroy a mans family faster than anything.

[Saulbadguy]

Originally Posted by R8ers

Heres a novel idea IDIOT!

Why don't you make the money first then buy what you want....


IDIOT

You're a ****ing idiot. What if you do have the money to buy it, but choose to be handsomely rewarded by using a credit card? You can receive free flights, hotels, and various other perks just by using a credit card instead of cash.

[Bill Lundberg]

Originally Posted by Saul Good

I looked into this, and some do. AT&T does. Sprint and Verizon do not.

If you have normal bills, between youe utilities, cable, phone, insurance, mortgage , etc., you are on the map somewhere.

That's not true. I look at nearly 2000 credit reports a year, and cell phone companies, insurance companies, etc. DO NOT REPORT. Sometimes They will if you ask them to, but it doesn't just happen.

[chiefsnorth]

Originally Posted by Bill Lundberg

That's not true. I look at nearly 2000 credit reports a year, and cell phone companies, insurance companies, etc. DO NOT REPORT. Sometimes They will if you ask them to, but it doesn't just happen.

Comcast does.

[R8RFAN]

Originally Posted by DJ's left nut

Another Dave Ramsey ****tard.

Are there really that many gullible people in this country?

Dude, if you don't like being debt free you can always go back into debt, they will take you back...

I figured it out way before I learned about Dave, he just says it better than I do...

Anyhoo, last I checked, the mans money makeover book is like 10 bucks, is that gullible...

Heres whats great about being debt free

Not much going on today at work, they call me and say do you want the day off? I say sure..

I am 44, I work about 3 days a week right now, fish when I want basically , don't have to worry about any mailbox surprises ... just got to keep the lights on , Sunday Ticket/ Internet and beer in the fridge.

Go to the beach for the weekend anytime I want... Don't worry bout how the hell I am gonna pay for it because I have the cabbage on the hip (or the perkstreet card)

Debt Free is nice and the only way to be debt free is get off that credit drug... it's like heroin.

Yall have fun arguing why it's good to be in debt, I love this shit

[grandllama]

I'm not going to read the whole thread but go to www.creditboards.com and read the credit forum. Read the credit forum until your eyes bleed. Everything you need to know is in that forum. Look for the why chat guides and details on the jack attack. Then once you are clean, don't let it happen again. :-)

[R8RFAN]

Originally Posted by Saulbadguy

You're a ****ing idiot. What if you do have the money to buy it, but choose to be handsomely rewarded by using a credit card? You can receive free flights, hotels, and various other perks just by using a credit card instead of cash.

dude you are paying 20% on a credit card, you ain't getting shit free, are you that stupid?

Are you gonna pay that card off in full when the bill comes in?

[Bill Lundberg]

Never seen it, but I don't think we have comcast here.

[Saul Good]

Originally Posted by Saulbadguy

You're a ****ing idiot. What if you do have the money to buy it, but choose to be handsomely rewarded by using a credit card? You can receive free flights, hotels, and various other perks just by using a credit card instead of cash.

If you want to hunt for lost pennies, there is nothing wrong with that, but I've seen a lot more people bankrupted by credit card debt than people that got rich off the deals.

[Chief Henry]

Originally Posted by Iowanian

Pay your bills, pay them on time. Pay off your bad debt, and don't rack up CC bills that are very close to your credit limit. It's really not rocket science.

Good debt is ok. I'm pretty much in line with Hoover in principle.

Just to add to Hoover and Iowanian - Get 2nd job if you have to to pay off your debt. Go out and BUST YOUR A S S to pay off your debt.

[R8RFAN]

If you are carrying a lifetime balance on a CC you are basically letting them loan you 100 dollars and you are paying them back 1000

Why don't you credit nuts come down here to NC and give me the title to your camaro and I will loan you 150 bucks and you pay me back 1000

I will take that action all day