Credit Repair

It will never be easier for you to get an unsecured credit card than while you’re in school. Lenders are much more lenient about extending credit during the college years, because they know your parents are likely to pay your bills if you can’t and that parental support typically ends with graduation.

Legally, you owe a debt until it’s paid, settled, or wiped out in bankruptcy. Some people erroneously believe that their obligation ends when a creditor charges off the debt. But a charge-off is essentially just an accounting term. The creditor can continue trying to collect or sell the debt to a collection agency, which can [...]

Responsible credit users don’t apply for credit they don’t need. They also try to pace their credit requests, so that they’re not opening a bunch of accounts in a short period of time.
Although your first few credit accounts serve to build and improve your credit history, there typically comes a point when each subsequent [...]

If your goal is to improve your credit score, don’t close any of your current accounts. Closing credit cards and other revolving accounts can never help your score, and it might actually hurt it. Shutting down accounts reduces your total available credit, and that makes your balances loom larger. That narrowing of the gap between [...]

This one is a variation on the idea that reducing your available credit somehow helps your score by making you seem less risky to lenders. Once again, it’s off the mark. Narrowing the gap between the credit you use and the credit you have available to you can have a negative effect on your score. [...]

It is difficult to judge exactly how much an action is going to affect your FICO score and it will vary among different people with different credit profiles. Not one piece of information or factor alone in your credit report will determine your score. Your FICO score only looks at information in your credit report. [...]

In simpler terms, a FICO score is simply your credit score.  FICO stands for Fair Isaac Corporation which was founded in 1956. They developed the FICO score, which is a measure of credit risk. The Fico score is calculated statistically with information within a consumer’s credit file.  FICO scores are used primarily in credit decisions [...]

Welcome to the Credit Repair Forum. I have changed this site into a blog format and hope you will follow along on my journey to once again repair my credit. Here is a little background info on my story:
I’m 30 years old and filed Chapter 7 bankruptcy when I was 22 years old. I was [...]