There is hope my friend!

Posted by roni on October 17, 2000 at 16:30:51:

In Reply to: My story posted by Joe on October 17, 2000 at 16:27:15:

Unfortunately late payments can ruin your credit
score, especially recent late payments. You need
to do two things: Credit repair/negotiation and
reestablishing credit. A several months of on time
payments will help to boost your credit score.
However this is not enough. You will need to get
these late payments off your report. You can
negotiate w/ your creditors yourself or hire a
service. I like many have just signed with a company
called junum.com. So far the customer service has
been excellent. They charge $21.95/mo and $8 for
each deletion. To reestablish credit when the
prime credit card lenders will not touch you, you
should apply to capital one, orchard bank and
providian/aria. They all have online applications.
They will give you a card either secured or unsecured.
Your local bank may also give you a secured card.
The point is that you must establish some positive
tradelines to your report. I added 8 credit cards
to my credit report. I was bogged with credit inquiries.
I applied to all in the same month and look for
them to hurt my score temporarily for I am looking
for a long term gain. Keep the balances low (but
not 0)on all existing and new credit card accounts.
As for the student loans, do not let them default.
Dont consider student loans debt. They do not hurt
your score unless you are late or in default. They
also donot help your score until you have paid them
off about 70%. You can consolidate those loans to
receive a lower payment if you are having a hard
time paying them. But really $6,000 is not much. I
am in debt 20x that amount with student loans. I
hope this info is helpful. Im 31. At 24 I did not
know anything about debt management and credit. If
you have any more questions just post here.

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