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auxsec

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My financial bank includes family
I own a duplex and a car. My mom receives monthly payments from me for both which includes interest on the house payment. I do have a credit card which I have an A grade for payments. However, I have a poor rating on homes and cars. My previous car is reported on here as paid off. I had the loan on that one. I was late on a few payments over five years but still paid it off years ago. The car lasted me eleven years too. I have been bad in the past with finances but am really trying to improve. My current credit rating is fair. It used to be poor so at least that is an improvement. What do I do about the house and car issues? My husband and I are hoping to upgrade and move sometime within the next five years. Any and all advice is greatly appreciated. Thank you.

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What exactly are you wanting done with the house and car issues?  Since you've been paying a family member, that won't show up on your credit report and there is nothing you can do about that.  The paid car loan does help somewhat, but it would help your score more if you had an active car loan in place now.   If you want to improve your credit, then slowly build up more credit by keeping your utilization on the credit card between 1-3% at all times, never go above 30% utilization.  When you are able, you can take out some other loans to help build up your credit, such as a personal loan or a secured CD loan with your bank.  Best of luck!

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