Is there hope for someone like me....

[exp9382]

Well yeah im pretty bad with credit. Made alot of mistakes and know paying for it deeply. Myfico EQ is 491 . 

What happens when the only Creditors that would approve bad credit decline you?  I mean i owe Capital One so i cannot get Secured. They denied.

I Owe creditone also.

I owe First Premier.

Declined Us bank secured

Declined Bank of America Secured

Declined Cap 1 Secured.

 Can't get credit union account ( Listed in Chexsystem)

Only thing reporting for me positive is DTE Energy. 

What can i do? My credit is shot to death. They won't even take my cash!!!!

[Shogun]

Gonna take a bit, you burned the rebuilders.  Try PFDs,, or at least pay/settle then GW.  Maybe SDU....

[ezdriver]

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@exp9382 wrote:

Well yeah im pretty bad with credit. Made alot of mistakes and know paying for it deeply. Myfico EQ is 491 . 

What happens when the only Creditors that would approve bad credit decline you?  I mean i owe Capital One so i cannot get Secured. They denied.

I Owe creditone also.

I owe First Premier.

Declined Us bank secured

Declined Bank of America Secured

Declined Cap 1 Secured.

 Can't get credit union account ( Listed in Chexsystem)

Only thing reporting for me positive is DTE Energy. 

What can i do? My credit is shot to death. They won't even take my cash!!!!

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I can't figure out what you are realy asking so it is hard to answer.

What can you do? Live on cash. Check back in a year or so.

[guykara]

For improvements, I suggest you start checking out your baddies. Getting some of your collection accounts will help raise your score and hopefully get you set up for a secured credit card. Also, try a local credit union. They seem to want to lend more than others.

[tufa4311]

Have you gone to one of the free credit counsellors? I think they are your best bet - they will sit down with you to figure all this out. At this point, as crazy as it sounds, you need to forget about your credit score - go back to the basics. Again, forget about your credit score and start paying attention to what is BEHIND your credit score.

As an example, on 2/07/2014 I was at 640/619/610. So I sat down with my (free) credit counselor, we  looked at my credit report, listed all my debts and started a plan to PAY THEM OFF. I started with about $4K in credit balances and now I am at $600 total. I just pulled myFICO today and am at 680/665/684. There was no magic to it - I looked at my debt, stopped spemding my money on things, well on anything really, and just paid down my debt.

I don't know how much you owe but you need to figure out what is best for you. Your options are basically to work out a deal with the creditors to start paying them off monthly but lowering the montly minimums (the counsellor can help with that) or, if it's all just too much, then maybe bankruptcy (only as a last resort, if you go that route you'd be done with credit for a VERY long time) - again, I'm no credit cousellor (or I sure as heck wouldn't need to be here) but I have worked with one over the past 6 months and there has been great improvment.

Again, your debts and payement history are the primaries in driving your credit scores. Forget about the score, work on the debts and payment history.

[NICKI183]

I see that you are in a credit score funk and see no way out.  I can see through the threads that you have been provided with essential information that will get you started.  The most important thing you did was recognize that there is a problem and must utilize a specific strategy to fix it.  There are free credit counselors available through credit unions, banks, and even online; however, I would stay away from those credit repair options.  They have a habit of attaching that labeling of credit repair to each creditor on your credit report (speak from experience).  Also, bankruptcy should never be an option if you have a full-time job, have the means of making payment on your debt, and realize that you can get out of it.  This action will cause rippling effects that impact your life for 10 years ( i know from doing it).  Well, I can say that my credit score is extremely low due to my own mismanagement;however, I was fortunate to obtain three Cap credit cards in the midst.  In order not to loose them and receive adequate CLI's I will pay down my debt and collections.  The key to success in this credit card game is consistency.  No credit situation is unfixable but you must be willing to put in the work and sacrifice.  I make a great salary and splurge on things that are not important.  I should have been taking the money and paying of debt- lesson learned.

This road of credit repair will not be easy, but when you sit back 3-5 years from now and know that you will receive approvals on credit cards, loans, and other things you will see that it is well worth it. 

Get yourself of the cycle and make the permanent change that will be rewarding to you.  Good Luck....