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ashleyannm

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Credit score 470..Can't get secured cards..how can I fix score? HELP!
I destroyed my credit from 2010-2013. I had many cards that, when I left my full time job and went back to school, I just stopped paying because I was young and dumb. I have been trying to get a secured card and CAN'T! What could I possibly do to fix my credit? Most of my accounts should be coming off in the next 1-3 years. Should I try to settle some of these accounts (all but the medical bills are all less than $1,000 each) or let them come off of my credit report? I just need to be able to get some type of a card to improve my credit. Now that I am 26, I am MUCH more responsible and never ever miss any of my bills for things in my parents' names and haven't over withdraw my bank account since I reopened it three years ago. Can somebody please help? Are there cards I could get that I just don't know about?

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I'd start with contacting the debts you can afford to pay off and ask them if they will do a pay for delete. If they agree, ask for it in writing and make sure you have it in hand before making payment. Once you do that a few times and they are removed, your score will start to gradually improve. Once your fico scores come in around 580+, apply for a secure card again, you may have better luck. The more you can get to remove, the better. Hang in there, we've all made our mistakes, it may take awhile but you'll start to come back from it. 

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What secured cards have you tried? Wouldn't happen be the same Banks that you were defaulted would it?... try CapOne they are friendly to the rebuilders, or Open Sky, it doesn't pull your report or at least no hard inquiry.

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Paid collections don't get removed from your report just because it's paud, most scoring models out there dose not distinguish between paid and unpaid collections, keep that in mind when you try to "settle" them, get everything in writing before you pay, they would promise you the moon to get you to pay, however it's different story after you paid... Try ask the original creditors first, if they are willing to pull the collection and pay them directly.

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Ask somebody to co-sign a loan for you. Give them the amount of the loan so they know your serious about paying the loan, and just make your monthly payments on time and don't miss any. It's going to be tough with that low of a score! ouch

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I strongly suggest reading the articles on this site so you can learn howe credit works and how to build your score.  You also need to understand the statute of limitations for collections and negotiating a pay for delete agreement, topics that are also covered here.  Once you take that time, you will have very useful knowledge that will benefit you for the rest of your life.

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