topic Re: Improving Credit Score in Bankruptcy

Improving Credit Score

Anonymous — Thu, 04 Apr 2013 05:10:25 GMT

Filed chapter 7 that was discharged in September of 2011, and after three and a half years of unemployment, finally got mostly full time consulting work in April of 2012. Still working as a structural engineering consultant. Signed up in January of this year for a program to improve our credit scores through creditrepair.com, but have seen very little change in the scores over the past three months, For the money, it's just not worth it to us.

My income has increased and we have not been late on any bills since the bankruptcy. Tried to apply for a couple of small credit cards to test the market, but was denied both dimes, so I gave up on that for the time being.

Does anyone have any ideas to restablish some limited amount of credit, of which we currently have none, just enough to get the door cracked open? I did see the section on credit cards in this forum and will check that out further.

Re: Improving Credit Score

Anonymous — Thu, 04 Apr 2013 09:41:34 GMT

I personally would stop the credit repair service and use that money to apply for a secured credit card. That will do more for your credit than just about anything. I liked Capital One myself but there are several good companies out there.Before you do anything I would come here and research first. There is a ton of info from lots of people who are either in the same situation or have been in the same situation.

Re: Improving Credit Score

grassfeeder — Thu, 04 Apr 2013 18:29:39 GMT

I second that. I applied for a secured CC from my local credit union. It was a very worth while investment and I saw almost immediate dividends. Do NOT use more than 10% of the total credit however, keep it small and pay off all but a dollar or two to have utilization.

Re: Improving Credit Score

HiLine — Sat, 06 Apr 2013 22:12:38 GMT

Like others have said, I would suggest a secured credit card. If your bank offers a secured credit card, you should talk to them.

Re: Improving Credit Score

FocusedAndDetermined — Sat, 06 Apr 2013 22:21:18 GMT

@Anonymous wrote:
I personally would stop the credit repair service and use that money to apply for a secured credit card. That will do more for your credit than just about anything. I liked Capital One myself but there are several good companies out there.Before you do anything I would come here and research first. There is a ton of info from lots of people who are either in the same situation or have been in the same situation.

I agree - dump the credit repair service, and apply the money towards a secured card or try a local CU. You can get good adivce from this forum, and it's all FREE!

Re: Improving Credit Score

rm3 — Sun, 07 Apr 2013 19:30:35 GMT

I started last year with Capital One after going almost eight years with my credit just sitting dormant. Wished I had started rebuilding earlier. Cap1 has been good for rebuilding.