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Starting Over...What's you're advice

jlozano7
Established Member

Starting Over...What's you're advice

Hello everyone, I have been on the forums for a couple of weeks now just getting a feel and reading some of the posts on here. I feel like ive learned alot already. Like most I ruined my credit in my late teens and early 20's and I want to be able to have 700s or even 800s across the board. I know this takes a long time but I am willing to do do what needs to be done to get up there. My current situation is this... Wife got a big pay cut from switching jobs I have about 20 accounts varying from CC to Student Loans,etc creditcheck total has me at 524,565,523 scores 80% used 20k debt oldest acct11 years(auth user) , my avg 4 yrs. Currently have not been able to make all payments and have about 5 accounts on late notice. My question is since I can hardly make on time payments to all of my credit cards what is the best way to go about helping my credit out. Is it best to just find a way to pay minimum, or pay some and let others go late (what I been doing) if some are late and others are not should I let the ones late keep being late and keep the ones up to date. Ive tried calling to see if they can offer hardship but they dont offer and some are already on programs. Cant qualify for loan or anything to help myself out.

 

Thanks in advance hope I didnt bore anyone with my long post.

 

Any advice and input helps.

 

thanks again.

BK7 discharged 2/22/19
2/22/19 FICO 8 EX 522 EQ 569 TU 505
Message 1 of 4
3 REPLIES 3
Adkins
Mega Contributor

Re: Starting Over...What's you're advice

It's hard to give advice because there isn't enough information to go on. Student loans can be rehabbed to current, there are programs in place (check the student loan part of the forum.) But if you're short on money to pay all your bills to keep them all at least current, that's a bigger problem. Have you put a budget in place?
Last HP 09-14-2020



Message 2 of 4
jlozano7
Established Member

Re: Starting Over...What's you're advice

Yes I have an excel sheet I use to keep track of all my monthly payments and due dates.
BK7 discharged 2/22/19
2/22/19 FICO 8 EX 522 EQ 569 TU 505
Message 3 of 4
ABCD2199
Senior Contributor

Re: Starting Over...What's you're advice

Sell everything you can get $5 for to put towards minimum payments.

 

Turn off all recurring charges you don't need for survival -- that includes cell phone (get a $5/month flip phone), cable TV, internet, Netflix, Hulu, whatever.  Turn it all off.  Cancel everything.

 

If you have a reliable car, sign up for Uber and Lyft -- even if you clear $10/hour after expenses, you can probably drive 3-4 hours per day during the week and 8 hours on days off and earn $300 a week extra.

 

If you rent an apartment, get a roommate.  If you own a house, get a roommate.  If you have anyone living with you of adult age who doesn't pay their way, evict them if they won't pay their fair share.

 

If you have time for video games, bars/restaurants, TV or whatever -- you have time to work extra hours to get yourself out of this.  And you can do it.

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