Credit Repair Questions & Answers

jocundity5 asked:


I was thinking about taking out a personal loan to pay off some of my credit card debt (about 13k). The loan would be at lower interest than my current credit cards. Should I do this, or are there any other suggestions?

Twin father asked:


What is the best solution for credit card debt?
I am way in over my head, I have 6 credit cards and I’m over $40,000 in debt. I have tried to take out a loan at the bank to consolidate but i got turned down. I need HELP!

2nd Commander asked:


say you are in good staying, never was late. always payed the balance. but you have too many credit cards let’s say. so when you cancel that credit card. what happens to your credit score? Does your credit limit you had for that card get erased from the records? after all those years of building the credit limit to help the credit score. what happens to it? and what happens to your score? i’m just curious.

Yesenia M asked:


How much will my credit score increase if I were to pay off 50% of my credit cards within a 2 month time frame? My current credit score is 568 and Im hoping to increase it to 700 Im planning on getting a car by the summer and I want a great credit score…

haley a asked:


I recently purchased 9 books about how to raise your credit score and have recently paid off some student loans and credit cards…I have one student loan remaining and one small credit card balance…The ones I paid off were outstanding as far as being overdue…I want to know about how much my credit score adjusts with the payment of these debts after about 3 months once my credit reports reflect this…

KaTeLyN asked:


I am looking online to see if I can find a place that can consolidate my debt. All I am finding are places for credit card debt. Are there any places that just do general debt consolidation? I have only have two credit cards and the majority of my debt is medical bills, but it doesn’t seem like they take care of the medical bills according to all these websites. Any help is appreciated!!

tevesay7 asked:


I am 21 years old and in $15k of credit card debt. I make just about $14k a year. I made a lot of stupid decisions when i first got my credit cards. I am living at home and unable to to move out, or do anything at all for that matter. I don’t spend any money and I put all my money towards bills though a credit counselor. Would I be able to declare bankruptcy?

Angel asked:


How long after you pay all your owed accounts on your credit report will it clear? I want 1-2 emergency credit cards & I want to buy a new car & with my old history I couldnt do that. Now Im more responsible & know the consequences to not paying bills on time or not paying them at all. I just cleared my credit so how long should I wait?

La Sona J asked:


I have alot of derogatory items on my credit that I actually need to take care of. I have opened some new credit card accounts since I have never had credit cards before. What is the best way to improve my score so that I am not such a high risk?

spiderfan2004 asked:


About how long does it take to go from a shaky credit score to a good credit score? I have about five credit cards, should I pay them all off and wait? How long must one wait until their credit score is back in the “good” side?

Aamna asked:


I just checked out my credit report, and saw a collection account on my credit report.. how do I get rid of it? It was only $80 and the jerk doc sent me only one notice – and it was just a plain notice that i still owed them a little money that the insurance didn’t pay. Nothing from a collection agency. All my other accounts are so good, I pay my bills in full and on time every month, have had these credit cards for almost 3 years now.. but this collection thing bought down my score so much! I’m really afraid that this will affect my credit eligibility for things like houses, cars, apartments in the future I’m a broke college student and I really don’t want to pay $80.00… help.
Just wanted to add it has been showing on my credit report since March 2006 for all 3 bureaus.

SHAY asked:


I went over my credit limit on a couple of my credit cards although I pay on time the high credit that is showing on my credit report is making a negative impact on my credit thus giving me a lower credit score. Any suggestion as how to get this in a better light? I am looking to buy a house soon. Thanks for the help.

callalobo asked:


I want my credit score to get better and I was told I needed to get a credit card to establish more credit. Has anyone gotten a card that helps someone improve their credit score?