How can i repair my credit rating?

my credit score is so bad from my past that i cannot get accepted for anything, not even capital one will consider me. However strangely i recently got accepted for a contract from vodafone. Keeping that up to date will help a little but how can i speed up the process of raising my credit score? i have copies of my report from experian and equifax and it doesn't look good.

How can i repair my credit rating?
It can take a while but if you continue to pay your contract phone on time you will start to build up a decent credit record.





A site I've used for info in the past ...





http://debt.knowledged.info/credit_card....





Hope that helps.
Reply:I am not sure exactly what kind of situation you are in, however, the obvious solution is gradually paying off your debt. One thing you should do is not open any new credit cards. One way to gain back some credibility is to show you can make monthly payments keeping at least 5 credit lines to prove this. There are companies out there that will prey on people with low credit scores and in turn charge you a high interest rate if you just make the minimum payment or miss a payment. I suggest looking at your vodafone contract more closely to not fall into this trap. Also, it is very easy to live outside of our means because of how easy it is to swipe plastic. Try setting a budget to see if this helps any.
Reply:If you don't have any more credit cards because they all went to collection... then there is little you can do but wait.


unless you intent to pay the collection agencies what you owe.


And even that will not immediately help you with bad entries on your credit report. They will stay on there for a long, long time:





About 7 to 10 years... to be exact...





Be glad that vodafone still let you have an account but don't think that paying them faithfully will do anything to improve your credit score.


They only check to see whether you are credit worthy and you got lucky. But paying your phone bill is not something that is recorded in your credit report... only credit cards, car loans, mortgages and other loans you got from a bank.





I hate to paint such a bad picture... but I just don't know how else to interpret your question when you quote that not even Capitol One will give you a credit card...









Reply:The best way is to basically re-build it from the ground up. Don't make any outrageous purchases on a credit card that can't be paid off. Make sure you pay the minumum amount each month, if not the whole thing so you don't keep exacerbating the problem. Also make sure you keep up to date on all your loans--%26gt; mortgage, auto, etc. These factors also knock your credit score as well.
Reply:call your past creditors and make a deal to pay them off (they would rather get something then nothing.ask them to come up with a lower amount(they will) make sure you block your phone #!!


get utilities (then after a yr you can ask for a letter)


rent,car payments,


cell phone


so on...


it will bring it up or file bancrupcy but i hate to say that one.
Reply:first of all you want to contact a credit counselor someone who can help you analyze your credit report.





once you do that you may have to dispute negative items on your credit report and then you have to start building your credit to get back in the game of lending.





what i would advise you is to stay away from credit repair companies and law firms that want to charge you thousand of dollars to do this. Most of the work you can do yourself .





i can refer you to a website that has the tools to help you.





http://www.youreasyfinance.com





if you have any questions please fill free to email me at


mnicole1611@hotmail.com
Reply:it usually takes 7 years to repair your credit
Reply:pay any overdue balances


and keep current with any monthly payments you have to make





and don't stop
Reply:get out of the credit cards asap

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