Can you still piggyback to build credit scores????

[Anonymous]

Hi, my husband & I have credit scores in the 500's, my husband has 1 repo from a mobile home in 1994 and he doesn't have anything he is making payments on, I have several doctor bill late payments and I am paying a car loan, we need a new mobile home, the one we have is old, it has several problems and is too small, we can't find anyone to work with us because of our credit scores and his repo, we also can't build credit with credit cards or other loans because we can't get any kind of credit we have tried. Is it possible to piggyback I have been reading alot about this? We don't have any family members who are buying things on credit or who have any credit built up, how would we find someone to piggback from? I have read about companies that find someone for you, how do I find these companies and make sure that they aren't a rip off? Has anyone used any of these companies before?

Thanks

smith316

[llecs]

Welcome to the forums!

Piggybacking isn't the way to go. Basically you are relying on a stranger and trust they will keep up with the payments, CC utilization and balances, etc. I bet with a little hard work, both your scores can be in the mid-600s within a short period of time. To my understanding, and I could be wrong, it is also illegal to piggyback and lenders will often question the source for the AU account.

First off, anything bad, like a repo, must come off no later that 7 yrs from the date you were first delinquent. If your first late happened in 1994, then it should have come off no later than 2001. If there is a balance owed, and you haven't paid since then, AND you are out of SOL, then I would dispute it with the CRAs as being obsolete. They can't reporting anything that old.

Per the medical bills, check out the Medical Debts section of these forums. You will find info on using the HIPAA process to remove those medical bills. That will help too.

Getting that first CC is tough. I'd recommend a secured CC to start. You wouldn't have to app blindly and even a small CL CC will help your FICO scores tremendously. BofA is a favorite here. Also try your local CU. AFter that reports, then the other CCs will be easy to get.