What is the best way to repair extremely bad credit?

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6 Comments
  1. Reply
    anonymous
    July 21, 2011 at 1:03 am

    call the credit card company and tell them you’ll pay them everything you owe them (or a settlement amount) all at once but they have to agree to take it off your credit report. get it in writing before paying. get a book on credit repair. you will learn a lot.

  2. Reply
    David M
    July 21, 2011 at 2:03 am

    Keep your nose clean. Do not accumulate any new debt. Pay off all your old debt. And in about 3-4 years if you make no more mistakes your report will be squeaky clean. Good luck.

  3. Reply
    thatguyoverthere
    July 21, 2011 at 2:48 am

    Make all your debt payments on time, and don’t ever default.

  4. Reply
    snowgi7574
    July 21, 2011 at 3:08 am

    To raise your credit score I would first do some reseach and obtain your credit report from annualcreditreport.com You are entitled to one free credit report each year, do not get one from someone who requires you to give out credit card information. After you receive this make sure that all the information is correct and nothing is on there that you didnt know about. Make sure there are no late payment that you have actually made and can prove, make sure if you have paid off an account it is not listed as still open, and make sure that no one has opened an account in your name. If you find mistakes write to the reporting agency and ask to have the information corrected. The most important part of raising your credit score is paying all bills on time this counts for 35% of your score. Another big chunk of your score is how much you owe, this is also 35% of your score moving one balance to another card will not help you need to reduce the overall balance. Next is the lenght of your credit history this counts for 15% of your score If just getting started open 2 small account, is you have a longer credit history keep all account open even if they have a zero balance believe it or not closing that account will reduce score. Last is new credit, if you have bad credit do not open new accounts, this overall increases balance and look bad that you applied with bad or not so good credit. Hope this helps.

  5. Reply
    CoolWebGuy
    July 21, 2011 at 3:39 am

    Change your name keep your old accounts active and open new ones with your new identity .

  6. Reply
    Chris C
    July 21, 2011 at 3:52 am

    There are several aspects to improving your credit score:

    a) Get a copy of your credit report
    b) Challenge erroneous aspects of the report
    c) Use a reputable credit repair company
    d) Keep paying bills on time

    Remember to be pro-active. You can’t just hope it will improve over time. It is very important to get the negatives off of your report.

    Check out my eHow article:
    http://www.ehow.com/how_4544583_repair-b
    I was successful in getting my score increased by over 100 points in less than six months.

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