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What to do


creditshark
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I have been trying desperately to repair my credit for YEARS. But, every time I think I am doing good, I pull my report and it is back down in the dumps.

In August 2004 I was in a car accident that has cost me thousands of dollars, most of which I have not been able to pay thus far. Due to my inability to work full time, etc. I have having a hard time paying other bills. WHAT CAN I DO???

I thought I could refinance my house to get a 'pick your payment' loan, but my credit is not good enough for that. I keep seeing adds for people that can 'Increase your credit score by 100 points in 30 days' Can I believe in them? Have any of you had experience with that?

AGH!! HELP:confused:

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DO NOT trade unsecured debt in for secured debt. I know the temptation is there to use your home equity to pay your bills, but just don't do that. If you have problems afterwards, you could loose your house.

If you are that far in trouble, you may want to consider bankruptcy to get a fresh start. It sounds like you may get chapter 7 because you're not working full-time, but speak to a lawyer first.

The general rule is if you have ever paid (or are having to consider paying) one credit bill with credit from another account, you should be talking to a bankruptcy attorney.

As for credit repair ads, these are snake-oil salesman of the 21st century. They cannot do anything that you cannot do yourself. As a matter of fact, under the new laws, credit bureaus can ignore letters coming from them entirely. So do yourself a favor and ignore such hawks. They will just drive you deeper into debt.

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