Bad Credit? - Repair it here yourself!

There're many reasons you may want help for bad credit. We're here to help you understand what affects credit, what makes credit bad, how and what entities define your credit, guide you through the credit definitions, financial concepts, common misconceptions and provide you with information and tools that will help to solve your credit problems. Get help for bad credit now! To achieve this, we provide you with Free Access to a wealth of credit related content, forms, tools and calculators. We show you how to improve your bad credit step by step, reestablish your ability to borrow monies, how and where obtain loans, credit cards, mortgages and other financing. Repair Credit now!

Credit repair after foreclosure - time is the only help

Tue Jul 8, 2008 12:07PM | By Tony

See more in Credit Repair | Permalink | Email | Comments (0)

Q: I was foreclosed on my rental property 3 months ago and now can't refinance my own home. My credit is very bad with scores of 412, 458 and 467. I also had few other missed payments on credit cards. What is the best way to repair my bad credit?

A: The only way out is to wait. If you can still use credit cards, use them, keep some balance and pay it on time without paying off each month, and keep balance/credit limit ratio under 35%. But the main thing is time. It will take likely close to 18 months to 2 years to see high 500s as far as credit scores go, and 2 years for sure to get a new loan, unless regulations will change.

Post a comment

Name:

Email:

URL:

Remember personal info?

Comments:

Please enter the code as seen in the image above to post your comment: