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Newbie here needing help...


tez22
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Hello Everyone,

I'm here trying to get some information and advice on how to get my credit on track. Ok here we go...

CREDIT CARDS:

Hooters $500CL-$400 bal

Orchard Bank $500CL-MO

HSBC$1250 CL-MO

Cap.1 $500CL-$470 bal

Aspire $700CL- $620CL

OTHER ACCTS

Dell $1500CL 60days past due

Crown Jewelers $160 bal due / 30 days late

Bank of America $107 OVERDRAWN

Wamu $190 OVERDRAWN

Carloan NO LATES

Mortgage NO LATES

I am VERY embarrassed about this, but I really do need your help:-(

I'm looking forward to buying another home in about 2 years, but My credit SUCKS.

I started going downhill about 6 months ago after me and my SO went our seperate ways. Now I'm wondering if I need to file bankruptcy or what?

Someone please help me.

Thanks In Advance.

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Not knowing your financial situation it is hard to say, BUT if it were me...I would bring the lates current, pay the over limit ones down to within limits. DON'T CHARGE ANYMORE. Pay as much as possible on each account on time until they were paid down. You are not in bad shape, just need to take care of these NOW before they get too far out of hand.

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You aren't in that bad of shape.

If you have the income start paying these accounts.

Agree with Scott..don't charge anything. Just pay.

My credit was oh a hundred times worse back in 2000...it take some time

but you can get this in good shape fairly quickly.

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Hi Scott...

My income is kind is around $500 per month AFTER I pay all of my bills(mort.,utilities, kids things,etc.):cry: :cry:

I've been trying to find me a PT job, but no have called me. But I'm just doing whatever I can, with what I have.

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You aren't in that bad of shape.

If you have the income start paying these accounts.

Agree with Scott..don't charge anything. Just pay.

My credit was oh a hundred times worse back in 2000...it take some time

but you can get this in good shape fairly quickly.

Thanks!

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Tez, you are not in bad shape at all. Just a little behind. I'd suggest clearing up the overdrawn bank accounts first. When those are cleared, set up automatic bill pay for all of your accounts. Pay the Dell and Crown Jewelers first to bring them current.

Also, as everyone else has said, stop using your cards for a while and pay down the balances by making double payments if you can. With the automatic bill pay, you can time your payments to correspond to your paydays. That way the money is always there.

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Not sure what the rest of your credit situation is like or what your scores are, but you may want to consider a credit union loan to pay all those off, put them away, and pay on that loan, doesn't seem like too much debt. It will help your credit as well. The important thing is if you do that DO NOT CHARGE ANYMORE.

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Make a Budget Figure out where your money is going

Once your Budget is made Figure out how to bring those accounts current

Have a yard sale

Find a House mate. to share expenses

Make a plan and Stick to it.

Put the CC in the Sock Drawer or in and Ice Tray what ever it takes not to use them.

Read Read REad

Try to keep any account from going to collections work with OC ask for hardship etc. Lots of info here

Moriah

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Not sure what the rest of your credit situation is like or what your scores are, but you may want to consider a credit union loan to pay all those off, put them away, and pay on that loan, doesn't seem like too much debt. It will help your credit as well. The important thing is if you do that DO NOT CHARGE ANYMORE.

I tried to get a loan through my CU, I was denied:(

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