My credit score is 592, how can I raise my credit score? Please read…?

Deal Score0

I need some advice about my credit, and dont know where to start

I am 25 years old and I have never had a credit card. I have worked making tips since I was 17, so I have always had the cash to buy things I wanted and never thought about a credit card. I applied for one a few times and did not get approved.

I do owe some hospital bills. Probably around $ 5000, to $ 10,000 dollars and I owe one bank $ 300. Also I had roommates when I was 20, and when I moved myself and one of my roommates gave money to the other roommate for an Energy bill. The other roommate never paid the bill, and it was in my name. That is all the debt that I have.

I want to raise my credit score and pay off this debt but I don’t know where to start. I have no idea what to do. If someone could give me some advice and point me in the right direction, it would be greatly appreciated. I looked online into credit counselors, but that seems to be for people in credit card debt, same with everything else I could find online.

Thanks so much for taking the time to read my question.
Tigg, why dont you go phuc yourself. I gave no explanation for anything. I explained my situation and asked how i could improve my credit score. Learn how to read you phucing retard.
Doctor Deth : That is not true, because I do have another bank account

And J P I didnt think you were being mean. So what I guess part of what i was asking is: When I pay back these debts (which I will), will my credit score go up? I dont want to borrow money for anything except for a house because there is no way I can pay all of that in cash unless i win the lottery. Everything else, like cars etc I can handle paying for in cash.

5 Comments
  1. Reply
    tartan-tora
    November 10, 2011 at 5:39 am

    your score goes up itself,
    if you pay pay your debts on time without missing a payment all will be well and it will go up,

    contact your debtors and try and arrange a repayment plan for what you can afford every month and stick to it,

    they will be able to help you and sort out your debts with them,

    but if you default on your payments you can wave good bye to your credit score.

    or you could apply for a loan and pay off your debts that way then you only have on monthly payment to make instead of 2 or 3,

    also boosting your score if you keep up the payments without missing…

    hope this helps..

  2. Reply
    D.W.
    November 10, 2011 at 5:50 am

    You need to have a credit card, use it and pay it off each month.

    Your score is low b/c you don’t have enough history and good usage.

    Credit scores are a combination of:
    what you owe
    how you pay off things (on time? in full?)
    how many open lines of credit (Visa, MC, store credit) you have
    the ratio of income to debt

    It has very little to do with how much you earn. For instance, someone who makes a million dollars a year, but owes $ 900,000.00 could have a much lower score than me.

    My advice? get a couple of cards to start off with. Use them each month to buy things like gas and PAY THEM OFF each month.

  3. Reply
    Tigg
    November 10, 2011 at 6:22 am

    That is all the debt you have is an immature explanation of being in DEFAULT That is why your credit is crap, you do not pay your bills. You cannot improve your credit till you pay what you owe,.

  4. Reply
    Jay P
    November 10, 2011 at 7:02 am

    D, I’m saying this without being mean. You do not need a higher credit score. You need cash to pay off your debts that are in default. The only thing a credit score does is help you borrow more money. This is exactly what you do not need to do. Contact your creditors and see if they will take a settlement. From what you say, you probably have about $ 12,000 in debt. I’m sure they would settle for 5,000 or 6,000. It’s time to get that second job or take on more hours. with focus and intensity, you can knock that out in two months. This is not about credit. It’s about getting rid of these guys,

  5. Reply
    Doctor Deth
    November 10, 2011 at 7:49 am

    pay the bills – that’s the only way to fix it – nothing is going to raise your score while still having all that debt and unless you pa back that bank, you will never be allowed to open another bank acct anywhere

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