This story is long winded and all, but the point is, it doesn't matter how bad you have screwed up. It happens to the best of people (I'm an alright kind of guy). But the only way to fix it is to put your foot down, get dirty and fix it. It won’t always be as quick as this and will most likely take a year or more to get in a good place. Then years of maintenance. But if you need a quick hit to your score in a good way, read through your reports carefully (with a credit advisor if you need to. Many personal banks will do this with your for free if you have accounts there in good standing) If it looks like there's something off or something you can fix, call your broker, go over the report with them and STRONGLY insist on a rapid rescore. They will get all your info and see what they can do.


Despite the rosy national picture, we see regional and age-based disparities. A minority of Southerners still rank below prime credit. In contrast, credit scores in the upper Midwest rank well above the national average. Younger consumers struggle with their credit, but boomers and the Silent Generation secured scores well above the national average.
You have a low score, so I’m going to guess you have some charged-off, unpaid or seriously delinquent accounts on your credit report. The damage to your credit score has already happened. What you can do initially is make sure the negatives reported on your credit file are accurate and not out of date. Look over your credit reports, and dispute any negative items that you don’t think are yours or are more than 7 years old. Once you have ensured your history is accurate, you can work on adding new, positive data.

Would you like to learn more about the best way to consolidate debt? Then look no further than American Consumer Credit Counseling (ACCC). We are a non-profit credit counseling agency with more than 22 years of experience. We have helped thousands of clients become free of their financial burdens by consolidating debts. Our outstanding commitment to customer service shows with our A+ rating and accreditation through the Better Business Bureau.

Also, after the payment plan is done, a completed Chapter 13 bankruptcy can show on your credit report for up to seven years. As Albaugh noted, however, a filer will usually have already negatively impacted their credit rating through charge-offs, delinquencies and repossessions before moving on to bankruptcy. In that case, Chapter 13 can actually help the credit restoration process and limit the amount of damage their score will incur.
Credit card companies make balance transfer offers because they want to steal business from their competitors. So, it makes sense that the banks will not let you transfer balances between two credit cards offered by the same bank. If you have an airline credit card or a store credit card, just make sure you know which bank issues the card before you apply for a balance transfer.
A third of your overall credit score is based on the credit utilization ratio across all of your cards. Because of the way credit scoring works, it's better to carry a $1,000 balance on a card with a $5,000 limit (20% credit utilization) than to carry a $500 balance on a card with a $1,000 limit (50% credit utilization). That's why, in discussing payment pecking order, we recommended paying off the cards closest to being maxed out. That's also why you shouldn't terminate accounts. It'll increase the percentage of total available credit that you’re using – and that will reduce your score.
Credit card companies make balance transfer offers because they want to steal business from their competitors. So, it makes sense that the banks will not let you transfer balances between two credit cards offered by the same bank. If you have an airline credit card or a store credit card, just make sure you know which bank issues the card before you apply for a balance transfer.
Once you complete a plan to repay your debt, you should also complete a thorough review of your credit report. Creditor should automatically inform the credit bureaus that your account is paid or current. However, mistakes and errors happen frequently, particularly following a period of financial hardship. That means it’s up to you to make sure your credit report is up to date and that old errors aren’t hanging around.
Other ways credit card consolidation can hurt your credit include applying for a new line of credit which will result in a hard inquiry on your credit report, adding a new credit account that can lower the average age of your credit history, and getting a new personal loan. All of these things will show that you have a high level of outstanding debt (your scores should improve as your remaining balance shrinks from where it started).
If I shop around for a balance transfer credit card, my score will get crushed: FALSE! If your score does decline, it probably will not decline by much. You can expect 10-20 points per credit application. But, remember: you apply for a balance transfer to help reduce your balance faster. When you open a new credit card and transfer your balance, then you will be able to:
Education Loan Finance:This is a student loan refinancing option that is offered through SouthEast Bank. They have competitive rates with variable rates ranging from 2.55% – 6.01% APR and fixed rates ranging from 3.09% – 6.69% APR. Education Loan Finance also offers a “Fast Track Bonus”, so if you accept your offer within 30 days of your application date, you can earn $100 bonus cash.
Well, there are some things you can do to help move the needle in the short term, but making significant changes to your credit score will likely take a little time. If you’re looking to apply for a home loan in the not too distant future that’s probably not what you wanted to hear. In this article, though, we’ll highlight some things that will help, and put you in a better position when applying for credit next time.
It’s always possible there are some errors on your credit report causing your credit score to be much lower than it should be. At the beginning of any endeavor to improve your credit, get acquainted with your free 3-bureau credit report (from annualcreditreport.com) so you know what belongs on them. Check carefully for any errors to your name, identifying information, account names, account numbers, credit limits, balances, and payment dates, and if you find any errors dispute them and have your report corrected. If there were errors regarding payments or credit limits and they are resolved, your credit score may improve dramatically and quickly, depending on the error.

If following the steps above seems daunting, some organizations specialize in paid credit repair services. Most of the services require a monthly subscription fee between $60-$100 per month, and most reviews report that the negative items are completely removed within 3-5 months. Despite the high cost, legitimate companies provide a valuable service if you’ve been the victim of identity theft and you want someone else to do the work for you.

When the bureaus and data furnishers receive the dispute and supporting information, they will then work with the credit repair company to determine if the item should be removed from your credit report. The major law dictating your rights when it comes to credit reporting is the Fair Credit Reporting Act, but it isn’t the only law on your side when it comes to credit repair.


2. First Premier – The bank claims to want to offer people a second chance when it comes to their finances, but its fee structure and fine print prove the exact opposite. First Premier charges you a $95 processing fee just to apply for a credit card. Then it levies a $75 annual fee on the credit cards and most cards only come with a $300 limit. You’re paying $170 for a $300 credit line! The APR is a painful 36%. In year two the annual fee reduces to $45, but then you’re charged a monthly servicing fee of $6.25. And to top it all off, you’ll be charged a 25% fee if your credit limit is increased. Stay away from this card! Use the $170 it would take to open the card and get a secured card instead.

If you are a careful money manager who fell into debt because of unusual circumstances (medical or veterinary  bill, loss of employment or some other emergency) and NOT because you spent more on your credit cards than you could afford to pay off each month, then leave the accounts open. Doing so will help your credit score, because the amount of revolving debt you have is a significant factor in your credit score. Just be sure to put the cards away. Don’t use them while you pay down your debt consolidation loan.
This offer edges out competitors with the longest 0% intro period and standout perks. The Amex EveryDay® Credit Card from American Express has increased value with an intro 0% for 15 Months on purchases and balance transfers, then 14.74%-25.74% Variable APR and a $0 balance transfer fee. (For transfers requested within 60 days of account opening.) In addition to the great balance transfer offer, you can earn rewards — 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.
I don’t quite understand your situation but it sounds like you owe about $10,700 in high interest credit card debt. Is that right? If you can get into a debt management plan to pay off all that debt at a lower interest rate, and the monthly payment on the DMP is affordable, I would say go for that and forget about this 22% interest loan which is very expensive.
I came across Brandon's credit repair Video on you tube, and by far was the best and most inspirational one that I've came across. I purchased his Ebook, and was very easy to understand and follow. I submitted a total of 6 letters, 3 for me and 3 for my boyfriend. It's been a little over a month and we have both seen a difference in our credit score. His more then mine, and we are both going to send round 2 letters in a couple of days. His score went up 95 points with the 1st round of letters. We are so happy! And to make things even better, every time I had a question I would just email Brandon and he would respond literally within 15min or less. He is very reliable to answer any questions. thank you Brandon! Honestly this is helping us so much.
However, there is a big risk to using a debt consolidation loan. Once you pay off your credit cards, you will be tempted with a lot of newly available credit. If you got into debt because you spent too much money on credit cards, creating more spending power on your credit cards can be a dangerous strategy. Dave Ramsey regularly tells listeners that they cannot borrow their way out of debt. On his blog, he write that "debt consolidation is nothing more than a "con" because you think you’ve done something about the debt problem. The debt is still there, as are the habits that caused it — you just moved it!"

This is a basic balance transfer deal with an above average term. If you don’t have credit card balances with Discover, it’s a good option to free up your accounts with other banks. With this card, you also have the ability to earn cash back, and there is no late fee for your first missed payment and no penalty APR. Hopefully you will not need to take advantage of these features, but they are nice to have.
Most employer-provided retirement plans permit participants to borrow from their own savings. Since it's your money, there's no credit check or qualifying hoops to jump through. You can generally borrow up to half of your vested retirement balance, up to $50,000. The interest rate may be one or two percentage points higher than the Prime Rate, which recently was around 4%. You usually have up to five years to pay back money used for consolidating credit card debt. Miss that deadline and you may owe income tax and potentially a 10% fee on the remaining balance.

Following these 6 steps people with bad credit are sure to succeed. I would like to add while paying down your credit card debts one option that may help you get ahead is to take advantage of credit card transfers. Normally banks will let you transfer your balance (they’re more than happy to take it) for a small fee. One word of caution however, is that this doesn’t really fix the underlying issue, which as Sarah mentioned budgeting and keeping on top of your payments will.

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