jdetermann

NEED SOME HELP... WHERE TO START...

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My wife & I are trying to clean up both of our credit's. Total is about $16,000. Most of the stuff is from 2002 & before. Is it better to pay off all of the stuff current?

I truly don't know how to proceed. I took a job in Iraq to get us financially where we need to be but.. I just don't know how to handle my credit at this moment.

Can anyone give me some advice as to what to pay off first or is it just better to not pay off anything & go get a few secured CC's.

Any help is appreciated.

Jamie

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Currently I have 23 negative items on my credit. My wife has about the same. Most of them are prior to 2002-2003. We filed bankruptcy in 2001 due to premature birth of our son. Basically for the last 5 years we have been struggling & not really caring about our credit. Eating & surviving was much more important.

Now I finally got a job that pays very very well & we want to buy a house but with our credit we cannot. Last time I checked my credit score was 480. We have no positives on our credit except my wife has a car note that she pays every 2 weeks to a "buy Here, pay here" place.

We are just wondering what are the best options for our credit.. Pay everything off or just pay some of it off & then try to get some secured credit.

Any help is greatly appreciated.

Jamie

Baghdad,Iraq

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You also need to build some positive credit history. Since you have this "great job" now, has it provided you with a substantial windfall? Even a 480 mid-score can obtain 80% LTV financing on a house. Getting that loan will also help you start re-building.

You might need to get a couple of baddies removed, then place some good accounts on, limit inquiries and save, save, save your money. $ overcomes a lot...

You are going to have to open some CC accounts. You may want to do some research to make sure that doesn't become a problem in the future.

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