Single after 15 years, need to rebuild-starting at 605 What direction to go?

[Hootrvil]

I've been reading lots of posts and learning some valuable information--Thanks!

Here's my situation--I want to know the steps to take if you could offer some advice--

I have student loans that are in collections--I have already started a rehab program with them to get these under control.

I have about $1500.00 in medical debts.

This past year I have been living on my own for the first time paying rent, utilities etc by myself. I've taken care of all of these things fine and would love to get my credit up to where I could get a mortgage.

I have no credit card payments and no credit cards or any other revolving credit......

I have no car loan.

I am planning on moving to a less expensive apartment saving me $175 per month.

I have taken a course from the National Credit Counseling service that is supposed to up your credit score by a few points.

What are the steps I should be taking to up my score?

My income is $1400.00 per month with $73 for Student loans and $50 for one hospital bill that are being paid.

Those are the debts I'm paying now--of course this doesn't include utilities, phone and insurance.

National Credit Counseling suggests getting a secured credit card--what are you thoughts on that?

Any suggestions?

Thank you!

[DaBears]

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@Hootrvil wrote:

I've been reading lots of posts and learning some valuable information--Thanks!

Here's my situation--I want to know the steps to take if you could offer some advice--

I have student loans that are in collections--I have already started a rehab program with them to get these under control.

I have about $1500.00 in medical debts.

This past year I have been living on my own for the first time paying rent, utilities etc by myself. I've taken care of all of these things fine and would love to get my credit up to where I could get a mortgage.

I have no credit card payments and no credit cards or any other revolving credit......

I have no car loan.

I am planning on moving to a less expensive apartment saving me $175 per month.

I have taken a course from the National Credit Counseling service that is supposed to up your credit score by a few points.

What are the steps I should be taking to up my score?

My income is $1400.00 per month with $73 for Student loans and $50 for one hospital bill that are being paid.

Those are the debts I'm paying now--of course this doesn't include utilities, phone and insurance.

National Credit Counseling suggests getting a secured credit card--what are you thoughts on that?

Any suggestions?

Thank you!

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Hi and welcome to the boards!!! Yes, getting a secured card will help. Keeping your UTIL between 1-9% and paying on time you should she a nice bump within the first 6 months. Auto loans have very little affect on your score but it will help having mixed credit. Do you have any other collections on your reports? or what you listed is all you have?

[Hootrvil]

That's all I have--I guess I'm not that much in debt,  just want to improve score enough for a morgtage.

I'm looking to get a secured card and may possibly contract the medical collections people to see just what they would take to take those remarks off my report.

Can that be done??

I'm sure I could get a decent house for less monthly payout than my rent--and it would have a yard.

[DiabolicallyRandom]

Contacting the hospital or OC for the medical debts is a good place to start. Some people even have success applying financial aid on old medical debts.

[Hootrvil]

Will getting a secured card ding my report even more from the "pull"??  Still getting used to all this lingo!

Also, will medical collections respond positively to a PFD request??

Thanks!

[guiness56]

A HP will have minimum impact on your score, 1-2 points maybe.

It really depends on the CA who has the medical collection.  Some are easier to deal with than others.

[Hootrvil]

One other thing--if I pay off some of these collections--they don't amount to a whole lot but there are 5 separate accounts---will these go off of my report or do I have to ask for that to happen?  the PFD thing.