Credit Score in Hannibal>Question Details

Melody Starr…, Other/Just Looking in 63401

my credit score is 510 i need to raise it fast i dont know who i owe money to or how to pay them or how long it will take to get my score to 700

Asked by Melody Starr Bock, 63401 Sat May 5, 2012

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First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.…

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Tue May 15, 2012
get with your local HUD counselor. You can find them on line, or by calling the county. They can help you determine what is wrong with your credit, what you need to fix and how long it will take you to fix it. They are reputable and have no vested interest in selling you a loan, they are paid by the govt to help you.…
0 votes Thank Flag Link Sat May 5, 2012
There may also be inaccurate information on your credit report. Once you have copies of all three reports, as the loan officer to show you now to challenge any and all inaccurate information. You may have to write to the companies more than once over a period of time to get it corrected, but that is one of the fastest ways I know to boost your score.
0 votes Thank Flag Link Sat May 5, 2012
Have a loan officer run your credit and show you what you need to do, but don't expect a quick fix. It sounds like you have collections and paying those will most likely, initially lower your score and it will take a while for the effect of paid collections to lessen.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Sat May 5, 2012
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