1. Have 2-3 open tradelines of revolving credit (i.e. credit cards). In order to build positive credit history, you must use the cards. I suggest charging a tank of gas every month to a credit card. Carry a $5 balance into the next billing cycle. If you pay the card off every billing cycle, then you are not "building credit".
2. Do not allow the balance on any revolving account to exceed 30% of the available credit. If you have a $1,000 credit limit, do not let the account balance exceed $300 at any given point.
3. Pay your bills on time. Late payments will impact your score negatively.
4. Do not close old account with a $0 balance. The length of your credit history impacts your credit score.
After you paid off your debt, did you close the accounts? Do you have any open tradelines at this time?
I would be more than happy to discuss how credit-scoring works and what you can do to raise your score with you at your convenience. Please contact me at 512-584-6109 at your convenience.
If you do these steps and keep your debt load down you should be able to buy something in a year or perhaps a little longer.
Good luck to you.
REALTOR | Mortgage Broker | Consultant
Buy - Sell - Lease - Invest
Keller Williams Realty | 360 Lending Group
Best of luck.
Here is a link to a free e-book about credit..... That is a start.
Sounds like the credit repair people aren't helping much.
(214) 763-4629 cell/text/nights/weekends
Lending all across the Great State of Texas!!
Please come by and we can hopefully get your questions answered. I am providing my contact info for you. Feel free to send an email or give me a call.