Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
Raguraji

1 Contribution
0 People Helped
How can I fix my credit score if I am, well, how do I put this... very poor?
Hello everybody. :) ... How are y'all? First if all, I'm here after being told of my credit score(under 550) by a family member... So I'm here to ask how I can raise it quickly/or as quick as possible. From what I know my student loans seem to be the cause of my credit scores being low, but I stopped the loans after I was kicked out of my university for having Epilepsy. I would like to raise my score because I'd like to one day rent an apartment or buy a used car. I have a couple of jobs, which include being a gardener, housekeeper, mechanic, tutor, and car washer making around $700 a month, by the way I am 22. Thank you for the help in advance. :)

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3677 People Helped
Most Helpful Response

Good Credit has little to do your income

Helpful to 1 out of 1 people

And more to do with how you manage it.

Granted, it is very difficult to raise your score with limited income, but it can be done. 

The biggest factor to good credit is paying on time.  And student loans never go away. You borrowed the money and spent it, you are responsible for paying it back. ( I must say though, that I have never heard of a school "Kicking" someone out for a medical condition. That is illegal, If that is the case I'd pursue a lawsuit.)  

I've heard of people in their 60's still paying off school loans because they didn't take care of them when they were younger.

Even just making the minimum payments will help to raise your score.  After you get back on track with them you could start taking steps to build your credit.

There is no quick fix. On average it takes about 2 years of good payment history to really give you a stable score. Otherwise your score fluctuates a lot.

If you haven't already done so, get a copy of your credit report. Annualcreditreport.com is where you can get a free copy of your report once a year from each of the 3 CRA's.  I suggest getting a copy from 1 of them at a time, spread out over the course of a year, one every 4 months. this will help you see whats going on with out any cost.

There is a lot of good info here on CK. I know it really helped me to rebuild my credit over the last couple of years. I sure learned a lot. Hope you can too.

Good luck

Reply by
Raguraji

1 Contribution
0 People Helped

Ok, I will see when/how I can begin paying back the loans, since I only make around $700 a month, minus the rent of $575, and other living costs. Yes, I was immediately expelled from my military University for having a seizure in a class, and being diagnosed with Epilepsy. I can? I didn't know I could sue them, but this happened nearly 3 years ago, can I still do it? I have been trying to get other jobs, but since I have Epilepsy I'm unable to work anywhere, I keep getting fired or denied work, so I just work with my cousins or where ever I can. Thank you, I will try to get my credit report and attempt to pay my loans. Thank you once again.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.