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Yes, You Can
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Posted by Pollyanna33 (66.74.231.76) on July 17, 2004 at 15:35:14:
In Reply to: How the? cannot keep up: ASS Acceptance posted by FannyB on July 17, 2004 at 13:42:27:
Yes, you can rebuilt your good credit, but it takes time and patience. We were so far down the tubes 10 years ago I shudder to think of it. We closed all bank accounts except 1 for direct deposit, took the cash from that account and left about $10 for service charges, ec., and then paid everything with postal money orders. We paid off every small item we could that was not deliquent and let the larger amounts go to collections. We had no choice. After 7 years these accounts fell off our credit reports, and we were quite lucky that we were never sued. We got 1 credit card that we use now only for emergencies, and 2 smaller ones with small limits that we have paid on faithfully for about 3 years. Those reflect positive, and our credit scores, both mine and my husbands are in the low 700s. 10 years ago we were lucky to reach 500. We also struggled to pay our mortgage very month, and sometimes it meant eating a lot less and more cheaply. We shopped at thrift stores and bought nothing we didn't absolutely need. If we thought about it, we'd wait 5 days, and if it was still a need then we made the purchase. We got rid of our cars and rode the bus or our bikes. So don't give up hope. You can rebuild your credit. Good luck to you.
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