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Mommy4PA

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How can I raise my credit from a 510 to 620 with horrible track record of medical and student loan
I recently made arrangements to pay $200 a month on a $2,400 medical bill, $200 to another collection agency for a $2,204 medical bill, and $100 a month on a $336 Comcast bill that was sent to collections. I have $42,000 in student loan debt with a lot of deragatory remarks, non payment, and anything else to show that I have made any payments. Recently, $6,000 of the student loan debt was paid from my tax return. I also claimed a forbearance, but asked if I can start making income based repayment of $310 a month. From all 3 reposting agencies my score if beyond horrible from shear credit score lack of knowledge. I also have several inquiries. My scores are 443, 479, 510. I'm currently living in a rent to own home that I would love to purchase, but cannot even get approved for $65,000. I just started a new job and my income is basically that same amount. Please help!!! Per the rent to own agreement, I only have 1 more year to purchase. I need to raise my credit badly to a status that will get me approved for that loan amount.

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hello there, i am a beginner at building my credit so keep that in my, i just thought i would offer some suggestions or thoughts. 

I see you have a lot of medical/student bills, have you ever had any credit cards?  I am reading that showing ontime payments as being very important, so maybe you can open 1 or 2 small credit cards to build up your on time payments.  Please, be careful though.  I am also thinking about purchasing a home in a year or two and if you have too many hard inquiries that could effect you.  But if you have no credit card history or non currently maybe getting a secured credit card is the way to go.  I wish you luck!

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johnnybinsea

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ambassofm is giving good advise.  Right now you have nothing pushing your score up.  You need some kind of credit to show that you can make ontime payments.  Your scores are very low now and it would be hard for you to get a unsecured card.  I would work on getting a secured card from your current bank, a local credit union or someplace like cap 1 or open sky.  Then just make sure that you are NEVER late and NEVER miss a payment. 

You have your work cut out for you but it is possible. I would do some serious reading from here on credit karma and other forums about credit.  Knowledge is the key.  Good luck to you.

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