Established Member
Chena83
Posts: 19
Registered: ‎07-18-2010
Im trying to finance school

My finanal advsior let me know that I am $5k aways from reaching my aggrate limit. I have applied for scholarship, Just standing here now.I have been working to get my credit under order. I have 4 cc, Best buy $300 limt, spent $250, Walmart $300. $245 spent,all of those I got in the last mo, and I have Capital on $700, $658 spent, for about a year now. It looks like I have 2 delinqience on be cbr and do not know wheer they can from? I have about 5 medical charge offs, reanging from $16- $648. My currect FICE with transunin says my FICE is 643. What suguestions do you have to improve my credit score? I am a pre OT stduent so I need as much financle help as I can get. Do you know that estimate Fico score that I will need to get a prive loan bank with out a co signer?

 

Thanks bunched

 

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Community Leader
Senior Contributor
laz98
Posts: 4,292
Registered: ‎09-06-2008
Re: Im trying to finance school

Ask your financial aid office for advice on where to get private student loan funding from.  They should have the best information.

Latest scores: Walmart TU: 766. MyFICO TU: ---. DCU EQ: 741. PSECU EX: 756.
Established Member
Chena83
Posts: 19
Registered: ‎07-18-2010
Re: Im trying to finance school

I asked tthem and did not get much help. They just said "apply at locat banks". Wesn't very usfull. Does my credut sciire needs ti be imorved?

Valued Contributor
Jazzzy
Posts: 2,679
Registered: ‎07-29-2009
Re: Im trying to finance school

To raise your score, I would suggest you do some reading on the Rebuilding Your Credit forum. That can maybe help you with some of the collections.

 

The fastest way to improve your score is to pay down your credit card balances. Then you have to give the lower balances time to report.

 

As to private loans, many of the big banks, etc, offer them....Discover, Citi, PenFed. If you Google Private Student Loans you will find a lot of possibilities. Check locally. Start comparing interest rates and terms. Ask what their minimum FICO score is.

 

Have you gotten a true FICO score...or one of the "credit scores" that aren't really FICO scores? Which credit bureau?

Established Member
Chena83
Posts: 19
Registered: ‎07-18-2010
Re: Im trying to finance school

I tried for a loan today and they told me that my Transuion Fico was 660 but still decline th lower for too many charg offs. What should I do now?

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Community Leader
Established Contributor
SCF
Posts: 1,004
Registered: ‎06-09-2008
Re: Im trying to finance school

Chena83 wrote:

I tried for a loan today and they told me that my Transuion Fico was 660 but still decline th lower for too many charg offs. What should I do now?


Head over to the Rebuilding Your Credit forum with a copy of your credit report from each bureau (you can get them for free from annualcreditreport.com) and use the information you find there to start improving your credit.  You'll find lots of people in your situation who can give you advice about how to attack each negative item and start making progress toward a better score.

 

For instance, you can sometimes get charge-offs removed by doing a "Pay For Delete" on unpaid accounts, and through goodwill letters for paid accounts.  Each one you remove should provide a boost to your score.

 

With a score of 660 and high existing loan debt, you may not be able to get a private student loan on your own, and improving your score should also improve your interest rate.