Please help!

[setgoals]

I'm not sure if this is the right area but I need some help. I would like to buy a house in a year and need to quickly re establish credit and my score. Currently my middle score is 455. I spoke with a lender and tIhey told me that I need to pay all of my judgements and collections and I need to get a credit card. I was turned down by first premier and cap 1 I'm not sure who else would approve me with that low score. Please help!!

[heatherbee]

Have you tried searching for a secured credit card?  I'm sure there's one out there that will approve you.  Just make sure that they don't report as secured.

[Anonymous]

you best would be to join a local credit ,just  make they report to all the CRA, should be able to a no AF decent rate and your freeze a portion of you saving to secure card

[Jazzzy]

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@setgoals wrote:

I'm not sure if this is the right area but I need some help. I would like to buy a house in a year and need to quickly re establish credit and my score. Currently my middle score is 455. I spoke with a lender and tIhey told me that I need to pay all of my judgements and collections and I need to get a credit card. I was turned down by first premier and cap 1 I'm not sure who else would approve me with that low score. Please help!!

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You've got your work cut out for you...but you've come to the right place.

I hope you are also reading and posting on the Rebuilding board. Lots of advice there on how to handle judgements and collections.

It sounds as if you need a secured credit card, but you may have to do some work on the judgements and collections first. Search the credit card forum for threads on secured cards. Start reading.

None of this is easy...but it is well worth it. When you look back a year from now, you will appreciate every step you take towards repairing your credit, and you will feel a sense of accomplishment. There is lots of good advice here.

[guiness56]

Have you pulled each of your free reports from https://www.annualcreditreport.com/cra/index.jsp?

Before trying to get another CC, try working on getting some of the collections and judgments taken care of.  Your chances will be much better.

List the collections accounts, leaving out personal information, and someone will tell you what you should do.

Knowing the DOFD and the SOL of each account is a must.

[setgoals]

Thank you very much for the info. Do you happen to know any cu or good secured credit cards?

[irodriguez7885]

Hi setgoals

your best bet with that score is to not place any more inquiries on your report attempting for an unsecured CC, it will only lower it further.  First Premier is as Sub Prime as it gets aside of Continental Finance. So if they turned you down you need to focus on bumping up the score.  The best way to do that is exactly how your advisor explained start with any collections and judgements. Once you get your score into mid 500's you can attempt again with first premier or Credit One bank.  Both work well with mid 500's, with high 500's you can try for Orchard or Household bank.  Good luck friend.

[guiness56]

Just paying off the collections will not improve your score.  It will look better on a manual review but, paid collections hurt just as much as unpaid FICO wise.

[setgoals]

Santander $13886

M&M Auto $3458

RJM $1838

RJM $1157

Sprint $1024

Tribute $786

RJM $780

RJM $ 740

LVNV $755

First Premier $595

FNCC $497

Slomins $1647

Liberty Mutal $3268

[setgoals]

Those are the accounts that I was told I would have to pay. I'm not sure if I should just file for bankruptcy and start all over again. I'm not sure how to start paying down all of that debt. Some of it is from when my BK was dismissed, Thank you for all of your help