@Anonymous wrote:
Well cc debt is 5000 I forgot my student card which was closed has a 2,800 balance limit was 6,000 but have managed to pay down.
My car is an 08 Nissan Altima its fully loaded bb is about 24k I owe 34k
As far as a second job I have been searching.
Yes the car is a burden I traded a car with tons of negative equity.
If I can pay off cc debt and refinance car to a 550 payment I would be in a better situation, though with the recent 30 days late on the student loans it really tanked my score which was a 660 now is a 530. It dropped dramatically just from those 3 loans payments. I have written a letter to college foundation they would not budge on removing the lates : (
You may have to bite the bullet for awhile on that car. You can't sell it without a clear title and even if you found something to trade it for you'd once again have negative equity going forward and that trend has to end. I've made mistakes just like that or worse so please don't think I'm scolding you. Just consider this car a hard lesson learned as you move ahead. I would concentrate on paying on those CC's for 6 months to a year and then see where you are.
The fastest way to raise your score at this point is to get those CC balances down.
Put every extra dollar you can find to doing just that.
Optimal credit utilization for FICO scoring purposes seems to be:
Total revolving utilization > 0 and < 9%, the lower the better, and
Reporting a balance on less than half of your revolving TL's.
Keep trying to get those late payments removed. 30 day lates lose impact pretty quickly but they still hurt especially the more recent they are.
Are you behind in any of your payments at this time? If not then at least you are not getting farther behind right at the moment. There is no reason for you to consider BK. You are young and have lots of time to work on this. But you have to want to succeed.
I'm by no means a financial genius. I hope others can give better advice.
