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Fireballer

How Can I Increase My Credit Score/repair Credit?

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Long story short, when my wife was pregnant with our twins, she was out of work for an extended time. She was out an additional 10 weeks after they were born. During this time, we got a behind on a few bills, and have even gotten several phone calls from one creditor. I currently increased my limit on my equity line. When my credit report came back, my wife and I were both in the 660's. I am sure some of the damage isn't yet reflected in my credit score. I am kinda torn with what to do with my equity, because we would like to move into a bigger house within the next year.

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Really not much you can do short term. The only thing you can do is:

 

1.) Pay your bills on time ALL OF THEM

2.) Pay down your CC debt

3.) Don't get your credit report run

4.) Don't open any new accounts if possible.

 

I'm sure you already knew this, but unfortunately there's no credit card fairy that comes in the middle of the night and fixes everything at once.

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First thing is to find out exactky how much you owe and to whom. After that, get in touch with the creditor that has contacted you and get that taken care of right away. Once you know how much and to whom you owe, make arrangements for a payment plan to those creditors. Once you're paid off, contact the credit bureaus and make sure they are aware that those old debts have been taken care of. At that point, they may expunge those old debts off your score.

 

Late payments won't cause too bad a problem unless they are over 30 days late. A few of those are O.K. but if they see a pattern, you're gonna get hosed. Start making payment plans now on your old debt, and once they are taken care of, make sure the credit bureaus are aware that the old debt is paid off.

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There's no credit card fairy either.

 

fixed

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