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i have poor credit and a car i cant afford i dont make alot of money
hi, im 22 years old and I have a poor credit score due to a credit card I took out when I was 18 and another I took out shortly after, both went to collections due to irresponsibility. Also I just got an auto loan with crazy interest (due to lack of credit) and I just got hours cut at work so now I have to take the car back because not only can I not afford it, but I also cant get the plates because of the taxes I knew nothing about, I want to know how that can affect my already low credit, and how long it will affect it. I want to know how I can start to fix my credit and how long it would take to make it green to lenders and jobs etc.... I have made a lot of mistakes with my credit and have been careless but I really want to fix it

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FIRST you need to look for a 2nd job if your hours got cut....your 22 working 60+ hours is possible if you want it badly enough....even Mcdonalds a job is a job what you want to do is save up $2,100 and take $2,000 open a NEW savings account plus $85 for interest payments and take out a cash secured loan with the bank using that as collateral (banks love to do this because if you default they get there money back anyhow, but this way its fool proof) and then set it up to where the bank does autopay out of that account they take the 2k from the account and hold it you put the 2k they give you in the new account plus $85 and while this money will be frozen for 6 months you will be building credit after 6 months has passed you can pay the loan off in full if you want but you need to wait a minimum of 6 months then after the 6 months go for a quicksilver One (mastercard version) cash rewards card 1.5% cashback with a $39 annual fee so if you spend $2600 per year the cashback will pay the fee (in the form of a reward check back to you even though you technically have to pay $3 per month or lump $39) lowest score approved 563 average score approved 618 best to be 30+ points above the average and when you get the card keep the utilization under 20% ie $1000 limit don't go over $200 unless your willing to make multiple payments a month to keep balance low and always pay in full so you don't pay interest and never charge more then you can afford to pay off treat it like a debt card (just with cashback option)....this will raise your credit score 60+ points easy then you can quit the 2nd job you only need it for 6 months max do a night shift if you work days $5 hr after taxes x 20hrs a week you'll have the 2K needed to jumpstart your credit in 6 months its tough but it can be done and the $$$ you will save in interest rates will be 10x that 2k over the course of the few years

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