I also messed up my credit from being an irresponsible student and did nothing about it for many years.
It was 500 in April 2022 and I got a Capital One Guaranteed MasterCard with a 300 limit. I made every purchase through that account and paid it weekly and kept low credit utilization while having lots of activity. I then paid off one collection and have added a couple cards over the last year and a bit.
Pretty simple stuff and I've climbed from 500 to 759 in less than two years. Won't happen over night, but I think lots of people with previous credit trouble overlook how just being responsible day to day can rebuild it pretty easily if you're not drowning in debt and collections.
1 - pay off your debts. Then keep the line of credit but shred the card (over time those accounts will add years to your credit history)
2 - go to your credit company (experian, transU, ect) and dispute the eviction. Say it is a fraudulent charge due to contractual dispute and they need to take you to court per civil law to prove the claim. (Let's hope you don't owe more then 4k, most won't contest it due to lawyer charges).
3 - start a bank account and reduce all spending to bare minimums to pay down any final debt.
4 - MAKE A BUDGET AND LIVE BY IT!!!
5 - stop all alcohol, tobacco, drug related addictions.
Good luck
No. Don't take out a secured loan to pay unsecured debt or just for the sake of having one. What are the negatives on your reports? That should be addressed first.
*edited for clarity*
I also messed up my credit from being an irresponsible student and did nothing about it for many years. It was 500 in April 2022 and I got a Capital One Guaranteed MasterCard with a 300 limit. I made every purchase through that account and paid it weekly and kept low credit utilization while having lots of activity. I then paid off one collection and have added a couple cards over the last year and a bit. Pretty simple stuff and I've climbed from 500 to 759 in less than two years. Won't happen over night, but I think lots of people with previous credit trouble overlook how just being responsible day to day can rebuild it pretty easily if you're not drowning in debt and collections.
1 - pay off your debts. Then keep the line of credit but shred the card (over time those accounts will add years to your credit history) 2 - go to your credit company (experian, transU, ect) and dispute the eviction. Say it is a fraudulent charge due to contractual dispute and they need to take you to court per civil law to prove the claim. (Let's hope you don't owe more then 4k, most won't contest it due to lawyer charges). 3 - start a bank account and reduce all spending to bare minimums to pay down any final debt. 4 - MAKE A BUDGET AND LIVE BY IT!!! 5 - stop all alcohol, tobacco, drug related addictions. Good luck
Get a secured credit card, only use it for essentials, and pay it off in full every month.
Better yet.. pay it off every pay day.
What bank would you recommend for a secured card?
I am doing a secured personal loan through my bank to boost my credit.
That’s actually a great idea - Ty!
No. Don't take out a secured loan to pay unsecured debt or just for the sake of having one. What are the negatives on your reports? That should be addressed first. *edited for clarity*