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Posted in Paying Your Bills
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nomoneymoreproblems

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I'm 25 with a score of 556
On my report I have a $800 balance from my first and only credit card 4+ years ago and a $300 balance from a cellphone company 2 years ago and two bank balances of $300 each now delinquent. Along with 4 hard inquiries of me attempting to get credit. I've been living off of prepaid debit cards to cash my checks and pay my cell phone bill( my only monthly bill). I still live at home and have no car and I would like to move out b buy a reasonable hoopty to drive asap. I do not have any savings and I have a full time retail job paying $11.05/hr, $300/week, $14,000/yr after taxes. I didn't finish college as of yet with only 1 year left to be finished I had to take a break due to money problems after paying cash for 4 years. I am broke and have no credit, what do I do to get out of this ditch. I'm stuck.

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If you are trying to establish some good credit, you only have 3 options:  1 - do you have a relative with good credit?  If so, see if they are willing to add you to one of their credit cards as an "authorized user".  They do NOT have to give you the credit card number or anything, so they don't have to worry about you using it.  You'll automatically get all their good credit added to your report. 2 - visit www.creditcards.org or www.bankrate.com and get a secured credit card.  3 - visit your local credit union and ask for a "credit builder loan".  Lastly, visit www.credit.about.com and start reading all articles that apply to your situation.  Best of luck!

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