Easiest way to help clean up your credit score?
Im recently divorced. I want a fresh begining....How do I up my credit score and clean things up a bit? I need normal everyday people ideas with in my budget.
Public Comments
- The first step is to shred all your credit cards and pay cash for everything. You can't get out of debt if you keep digger a bigger hole. If you have a car loan, sell the car and buy a used car with cash. When you get tired of that car, save up some more money and buy a better one. Getting out of debt takes time. As long as you commit to your budget and spend less than you earn, you'll clear the debts.
- Pay the credit cards off. A big part of your score is based on the ratio of revolving credit debt to available credit limit. Anything over 30% kills your score. Concentrate on the highest interest rate card first, while making minimum on the rest. When the highest rate card is paid off, move to the next. When you get the credit cards paid off, get you credit report and start working on any bad debt. Start with the newest and work backwards. The older the negative, the less impact on your score. If you can probably settle older bad debt for 40% to 50%. Lump sum payment gets better deals. Any payment plan has to be short termed. Be sure to get any settlement agreement in writing and don't give them access to your bank account.
- Be proactive and sue your way to good credit. Debtorboards.com has the tools you will need to do this. And it's LEGAL.
- Please do not do what debt slayer says. Closing credit cards brings your score down. There are tons of easy ways to bring your credit score and to do it quickly. One is to do a credit dispute with the three TRW companies. By doing so, you can turn negatives into positives and it only takes 30 days. I've done it and brought my score up 200 points before. Check out the first article below to see how step by step. The other thing is to manipulate what the TRWs use to grade you. Since creditors report you every 30 days, you can strengthen your score fast. Check out the second article below to see how. Hope this helps.
