I have a weird situation and I've tried googling information on here, but with so many moving pieces I thought I might just ask your thoughts. Back in college I ran up a ton of seperate low credit card debt, 4-5 cards, high balances under $1000, some as low as $300. I also had around 40K in private/federal student loans. In 2004 after I graduated I couldn't find a job, i could barely make my rent and had to move in with my parents. We consolidated some of my loans, asked for deferment and I stopped paying everything. Eventualliy moved back into an apartment a year or so later, but I never started paying that old debt. Nothing since my attempts in 2004. I was waiting tables so I used my cash to buy the things I needed and pay rent and bills, I was barely making ends meet. Over time I met and fell in love, got married, had 4 kids and have been a SAHM for the last 10 years. I quit my job due to how expensive child care was in 2007. Knowing I had all this unpaid credit card and student loan debt, and knowing my husband did not make enough to pay those off plus support all of us, we took me off of everything, even our bank account. So for the last 10+ years I have basically been off the grid. No job, no bank account, no active credit cards. The only thing my name is on is our house as a spouse and it was financed 100% though him 10 years ago. Now that my youngest is in school I have decided its time to get my adult life back on track and in order, correct the mistakes I made when I was young. I want to rebuild my credit and get a job. I pulled my credit reports to see what has been going on with it all this time and everything is gone. Its not even listing my school loans, although i know one of them takes half our tax return every year, he files injured spouse. It only lists the car I had bought back in 2005 (which I was never late on and sold in 2008)and a couple cards that my husband had added me to at the beginning of our relationship, says all paid and closed out fine. Its says "no collections", "no judgements", "no negative items". I tried to pull my free fico score on a random site and it said it couldn't, almost as if one doesnt exist based on the email they sent me about it. I am so confused.
What is my first step to rebuilding my credit? Should I get a small secured card? Open a bank account? I am nervous about getting back on the grid and then all of that old debt coming back to haunt me. Because we still cannot afford to pay them off in full or anything, or add an extra $$$$$ monthly payment until I get a job and start making money. I know after 7 years it goes away, but does it stay away? We are still currently a 6 member, one income family with two cars and a mortgage. I just would like to start looking for a job next year to help support my family, eventually start to pay off that student loan that is garnishing our tax return and have good credit. I've hated having to live like this for all this time, not being able to even have my own bank card. Thanks for any advice!
