How do I fix my credit?

[chalice]

Or run away.

I hear Never Never Land is nice this time of year.

Did any of youse cuntz see what I did there?

[Skiz]

Skizo you work the credit card company or something. No offense meant but that is the stupidest idea I have ever heard.

It isn't a stupid idea; it's a valid way of improving your credit score. Period.

[bornwithnoname]

Skizo you work the credit card company or something. No offense meant but that is the stupidest idea I have ever heard.

It isn't a stupid idea; it's a valid way of improving your credit score. Period.

It will also keep him in debt for ever.

[Skiz]

It isn't a stupid idea; it's a valid way of improving your credit score. Period.

It will also keep him in debt for ever.

Are you going to talk out of your arse all day or post something of significance to demonstrate why proven methods and those suggested by authors of such books are completely wrong?

No, no you aren't.

[zapjb]

I would SIF not PIF.

[Mr JP Fugley]

zapjb appears to know what she is talking about.

I'd go with the talk to the company and offer to settle in full with them removing the bad report.

The identity theft, tho' an intriguing idea, is almost certainly a criminal offence. Or indeed offences.

Skizo's idea only works if you have self discipline. Another way to do it is to make your regular payments by credit card, but clear them every month, rather than paying the minimum amount. That way you pay no interest but also keep the card active. Do not do either of these things if you do not have the discipline to pay it off in full. The temptation is to take the credit and to then spend the cash as well. That way you are left back where you started.

It strikes me that you may not be the chap for that type of thing. At least not now, you may be in the future.

[asmithz]

zapjb appears to know what she is talking about.

I'd go with the talk to the company and offer to settle in full with them removing the bad report.

The identity theft, tho' an intriguing idea, is almost certainly a criminal offence. Or indeed offences.

Skizo's idea only works if you have self discipline. Another way to do it is to make your regular payments by credit card, but clear them every month, rather than paying the minimum amount. That way you pay no interest but also keep the card active. Do not do either of these things if you do not have the discipline to pay it off in full. The temptation is to take the credit and to then spend the cash as well. That way you are left back where you started.

It strikes me that you may not be the chap for that type of thing. At least not now, you may be in the future.

I can do it now, I am really good at holding onto my money now. I made a commitment and saved the amount for my card in a month. And I have had the burden over me for over a year now. But when I decided enough was enough, I got it together, and it wasn't that hard.

[Mr JP Fugley]

That's good. If you have that discipline then you can use the card and clear it every month. Just use it up to the limit of what you can pay tho'. Don't spend money that you wouldn't normally.

A mate of mine buys everything he can on his credit card, shopping, petrol, clothes everything. Then when his pay comes in he clears it.

[Busyman™]

It will also keep him in debt for ever.

Are you going to talk out of your arse all day or post something of significance to demonstrate why proven methods and those suggested by authors of such books are completely wrong?

No, no you aren't.

Actually Skiz, that is a dumb idea and you leave out too much.

Increasing your credit worthiness while putting yourself in massive debt is a dumb move.

By what you say, if he has 2 $5000 limit cards, he should max them out, at some point in the year, to increase his score.

What really looks good is when your the high on your card was near the limit but you have very little on it. Mortgage companies look at this favorably and scrutinize your credit more than credit card companies. It shows you can mount up a debt and get rid off it.

Having cards at high limits puts one in danger of going backward. You are also paying interest on that high ass balance.

The advantage there would be if the card is at a 0% interest rate (hopefully for a year or more). That way if he's paying this high balance, he's isn't losing money as long as he pays it off within the 0 rate period.

@asmithz - Also make sure the collection company was one of the big 3. If it wasn't, it might have just been a collection company hired by the company you were delinquent with. In those cases, many times it wasn't reported to Experian/Equifax/Trans Union. If was a credit company, it was probably reported. If was a magazine subscription, probably not.

If it was reported, the delinquency will be there for 7 years (unless the duration has changed)

[zapjb]

zapjb appears to know what she is talking about.

I'd go with the talk to the company and offer to settle in full with them removing the bad report.....

Dude I'm a dude & not mistaken for a female irl.

And so far my solution is the best.

Whats the amount $$$ OP?