Posted on
September 29, 2009
at
4:07 am
Hi, I need to know how to get out of my bad credit, if ever I decide to do debt settlement, that is. If you can tell me how to rebuild my credit after debt settlement, that would be super, it might finally convince me to enroll in the program. Thank you in advance -
Posted on
September 29, 2009
at
4:13 am
There is a question that precedes "how to rebuild my credit after debt settlement?" - and it is, what does my credit score look like?
Posted on
September 29, 2009
at
4:18 am
how to rebuild my credit after debt settlement?what does my credit score look like? what is a credit score?your "credit score" is calculated using the Fair, Isaac and Company (FICO) rating sysytem. it is made up of 5 different components. The FICO rating system is between 300-850. a score that ranges from 680-700 is good and below 580 is bad.
Posted on
September 29, 2009
at
4:21 am
how to rebuild my credit after debt settlement?what does my credit score look like? if you qualify for the settlement program it means that your accounts are already past due, and that means that your credit is already bad.Here's a breakdown of the FICO score. Take note that debt settlement will ask you to stop paying the creditors and will continue to do so until enough amount has been saved in your escrow or savings account.-35% Payment History- 30% Amount Owed-15% Length of Credit History-10% New Credit-10% Types of Credit Used
Posted on
September 29, 2009
at
4:33 am
how to rebuild my credit after debt settlement?what does my credit score look like? Which part of the credit score is affected the most?Payment History: 35%. This portion of your FICO score will increase if you make all of your monthly payments on time. If you miss a payment, it will have a negative effect on your payment history.
Posted on
September 29, 2009
at
4:35 am
Just to add to 99's,
how to rebuild my credit after debt settlement?what does my credit score look like? Which part of the credit score is affected the most?The New Credit: (10%) part is also affected by debt settlement. This portion of your FICO score is effected by the new types of credit you are taking on. If, for example, you took out a line of credit or credit card 4 years ago but have not opened up any new credit since then, this portion of your score will suffer.
Posted on
September 29, 2009
at
4:37 am
how to rebuild my credit after debt settlement?Check for errors in your credit report. Look for accounts that are open and overdue -- and contact the credit bureaus so that it could be corrected. Remember that your credit score is based on information in your credit report, so you can't afford errors as they would damage your score.
Posted on
September 29, 2009
at
4:40 am
how to rebuild my credit after debt settlement?Also, remember that a debt settlement appears on the credit report as "settled", "settled for less than the full balance", or "settled in full." If it were not the case, request for it to be changed.
Posted on
October 16, 2009
at
1:55 am
how to rebuild my credit after debt settlement? It will also help if you acquired new credit after your account was settled. A secured card is a good option; it may be of help to you especially if your credit score has dipped significantly.
Posted on
October 16, 2009
at
3:40 am
how will a sercured card help me out better in terms of rebuilding credit compared to a non secured one
