Bad credit in a recession...advise for future?

i have bad credit but im looking to get ahead by the time we get out of recession...im slowly paying off debt(i have a few credit card charge offs and am late on school loans) im trying to find cheaper hosing and keep my expenses low... what can i do to help me get ahead when the economy bounces back...id love to buy a home but have bad credit and dont think i could... i am also looking for a new job please give me some advise thx

Public Comments

1. hi, try to request your credit report with the 3 credit agency, then start disputing accts that are more than 7 years old to be removed, dispute inquiries that you dont remember requesting credit with the company, before you pay off debts that appear on your credit report send a letter to the company and/or collection agency saying that you are willing to pay but they need to delete the item from the credit file, (you have to make them agree and send you a letter stating that yes it will be removed), be aware about companies that reage accounts example if the debt was reported in 2000 and you dispute it in 5/2009 and it comes back saying that this acct is acurate VERIFY THAT THE REPORTED DATE DID NOT CHANGE, IF IT DID THIS IS AGAINST THE LAW
2. You have diametrically opposing views. You speak of debt reduction, yet also talk of buying (mortgaging) a home. Get yourself a real written budget, naming every dollar before you spend it, living well under your means, avoiding debt at all costs. Maybe in 3-5 years you could explore a home, etc.
3. Hello there, I was going through the same until a few weeks ago. I decided to contact the credit departments of the different entities that are affexting my credit and humbly explain my situation. I told them I was very intereted in paying my debt but the monthly rates I was being charged were not within my possibilities. Luckily for me, the managers were open to make a payment arrangement that works for me and now my credit score will not be affected. Showing good will and communicating has been the best move I have made to deal with high debt and freeze on my salary increase for 2009. I hope this works for you as well. Good luck
4. Your first mistake is paying charge offs. If these items are already in collections and the collection agencies have already placed tradelines on your credit report then just leave them be. Paying them won't make them go away and it won't improve your credit score. It's as bad as flushing money. If they haven't hit your credit report, get a statement in writing that as long as you continue to pay the agreed upon amount on time they will not insert a tradeline. Save your money. By the time we start to pull out of this recession you should have a nice nest egg and your credit will have recovered enough to purchase a home. Buy something with only cosmetic issues for cheap (preferably a foreclosure). Live in it while you fix it up. A litttle paint and decor isn't that expensive. Then put it on the market. Make yourself some money. Then do it again. And again...
5. Hi, I used Credit Solution to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate and free consult.I came across this company on NBC News Special Edition.Check it out here: