Desperately Seeking Help

[bott6698]

Hello, I have a poor credit report of less than 500. I am dying from the crazy interests rates I am getting 18% on car. 12% adjustable mortgage! 493 score was the last time I checked but it has been about 5 months and I am going to recheck it on the 3 report option from my fico. Everybody that I apply for loans for cannot understand how my credit is so bad. I have a car that I have never missed a payment on for 4.5 years. I have a Van that I got 30 days one time 1.5 years ago but overall for 3.5 years only missed that one payment. I have a mortgage that I have had for 4 years and never missed a payment. I have a home equity loan that in the past 2 years I went 30 days once. I have a person loan from same company as home equity and just have been paying for about 5 months with no lates. I have 10 collection accounts from when I lost my job more than 5 years ago but no major accounts. What these collections are are cable companies, utility companies, medical bills etc. NO cars, House, or major purchase problems. I know people that did bankruptcy that have built their scores higher than me and I am trying desperately to make things right. I have had my current job for 6 years in February. I am sick of getting killed on interest rates I have 4 kids and desperately seeking a way to fix my credit. I thought about trying a financial advisor but I know they are very expensive and I don't know that they even help with this type of thing. On another note my wife was having problems with a credit card company so she decided to do a debt consolidation. She has never missed a payment on the debt consolidation but the credit card company lists as a charge off even though they accepted the agreement and her credit has gone down 100 points. Please Please Whatever advise you have I am ready and willing to listen I am begging for help.

[Anonymous]

You are sure to get some help here to start you on your way. Those 10 collections are not helping your scores, even if they aren't for anything major. If you have high balances on your credit cards, that's a score killer too.

You may want to post what cards you have the CL's and balances.

I would start off getting a copy of all three reports to see what you have that is negative.

Then start working on what you can handle to pay down, or offer PFD's, or just to make sure there are no errors somewhere.

If you need to ask a specific question about what's  on your reports, you are sure to get the help you need here.

[bott6698]

Ok Thanks, I will get a current report and let you know everything so you know what I would need to do to get things resolved. Thanks for your guidance.