Hello! I would LOVE some advice as I have literally stalked here for years and finally decided to ask when I saw most people here are not too negative or bashing I am trying to raise my horrible credit score. It is about 594 and I had a foreclosure back in 2010 and well as a repo (our daughter passed away at 3 months old and we had a lot of bills but due to income was told we couldn't qualify for bankruptcy).
We are working hard to repair our credit but I do not know what else to do..here is what we have on credit.
On mine I have:
Fingerhut with a limit of $750.00 owe $75.00
Care credit with a limit of $800 and a balance of $0.00
I have several charged off cards that total about $1200.00 and were charged off in 2010. The repo and foreclosure in 2010..the repo was for $22,000 and foreclosure was for $84,000
Student loan of about $25,000 that I just started paying toward (have paid about $4000 so far)
My husband has No foreclosure as his name was no where on the house because I bought before we married but he had the repo on his name.
He has charged off cards in same amount as me (joint)
Khols card limit of $200 balance of 0
Fingerhut limit of $2500 and a balance of $0.00
Our home balance is about $268,000 (appraised at $426,000 a month ago btw!)
Our car balance is about $16,000
3 loans that total about $8000.00
Care credit limit of $800 and a balance of $0.00
Our total income is about 91,000 a year. Our bills total about 5200 a month so hard to save anything much up unfortunately.
We have a savings of about $2500 which is a little short to pay off any of the loans on my hubbys name.
Its important for me to get my credit up, as in 2007 Crazy! We do not need to buy anything however I want to start working on my score now because one day our 3 children will be teens and asking me to cosign for them on a loan and how bad would I look to say I am unable to? It just important to me as from age 16-26 I was always the most cautious one I know w my score and that went all downhill.
When our middle child passed away (2010)we spent a LOT of money because we lived in a motel room for 6 weeks straight and not enough saved up. was off work but wasn't getting paid she was alive nor afterwards when I fell in depression. She was special needs and required 24 hour a day care that myself and husband done, The military gave him paid leave.
I see the err of my ways and we have cut back expenses on everything tv, cells, home phone etc to get all the charges offs paid back and get everything squared away. Any advice what I can do to get credit establish again? Even Orchard card wouldn't give me a chance!!!EKK HELP!
We want to improve our credit but it seems I always get denied for anything I try to get. I have been using finger hut and khols to improve our credit but can not do much else. We have considered selling to pay off all debt and start over? We could be debt free and no bills at all plus a great credit score. We LOVE our home though and got a deal and even to rebuy a SMALLER home would be around 300,000 in this area... (near base is why). Any advice or opinions from you smart people here What would YOU do? I have tried "pay for deletes" and none will do that they claim that they "can't".
I am on cell but will tomorrow from computer