Repair Credit Report Help

How do I pay off my 11,000 debt and repair my credit score back to perfect?

Already with ACCC (American Consumer Credit Counseling);21 yr old full time student; Work full time but don’t make that much; no time for 2nd job; got into debt trying to be an adult and not moving back home with mommy; 400 dollar car note; 150 a month for braces; credit debt was originally $9,000 now its $11,000 because of late fees and interest; is debt really off of your credit report after 7 years? Need a personal loan for at least $5,000- $10,000 but one for specifically BAD credit? Where specifically can I obtain one?will they approve me? if I cant pay this debt what’ll happen after 7 years? Please no rude comments only intelligent knowledgeable ones. Thank you in advance. thank u everyone for your answers all were insightful and helpful....but how can i sell my car if i owe my finance company? and who wants an 06 suzuki with 20,000 miles on it for 17,000 ??lol if u know let me know thanks :-D

Public Comments

1. Brittany, seriously, may i suggest a reading of '48 days to work u love' d.miller . a good book for going forward and plenty of fresh reference material and ideas. the other one is 'total money make over' d.ramsey helps our folks retain their cash. spending less and getting more value from their paychecks. our associates have a mandatory read of the books. if u can't pay the loan u'll do what others b4 u have - keep paying. understand credit scores are = how much i love debt slavery. do ur reading to know financial freedom. Note: using ACCC when u go for a mortgage it will be considered a bankruptcy, sorry.
2. SLOWLY honey, it will take some time. First off, get the lowest credit (interest rate) card you can find. Get as much of your debt on the low interest rate card. Make your payments on time. After making timely payments, other credit cards will offer you low rate cards. Transfer your debt to the lowest rate cards DO NOT purchase anything on credit untill you get your act together. Noones gonna give you a personal loan for 5 grand! You dont your bills now, what gonna make a lender think you will pay them? No, debt does not disapear from credit report after 7 years.
3. Can you sell your car? Can you beg your parents for the money? If ACCC is already helping you, there might not be much more you can do.
4. Damn I feel for you, I know that's cheap and meaningless to say. Forget the loan. What you need to do is work two jobs for a year straight, and make damn sure one of them is a good waitressing job. I did it, you can too. Then you go back to school after. 11 grand is a lot, but it's not impossible. I'd advise not "making a deal" with the creditors because that's a lower level of bankruptcy, and yes it will stay on your record for 7 years. While you're taking a year break to pay off debts, you need to get your university grants in order, make sure you get the max for Pell Grants. You haven't got a snowballs chance in hell of getting a loan to pay off your CC, unless your parents co-sign.
5. I recommend selling your car and getting rid of that nasty pament. Buy something less expensive and PAY OFF YOUR CREDIT CARD!!!!! The best way as a self supporting student to gain loans is to get fasfa money. Low interest rates easy payment schedules.. nothing due until you graduate and have a job! Credit Card debt is the worst kind for a young person to get in to. I wouldn't recommend bankruptcy because you don't want to lose your orthodontic treatment and have things repoed. Bankruptcy laws have become tougher than even 15 years ago but if you have to declare bankruptcy, 7 years is not that long, and there are always FHA home loans so you can buy a house in a few years. Oh yeah, move back home with mommy until you pay off your credit card, dont be stubborn its very common.
6. You could trade in your car for a new Kia which monthly payments are low $147.00 monthly. This eliminates the $400 current car payment. Move in with Mom and save every penny until this credit card is paid off. Ask to talk to someone at the credit card place and ask to have the interest lowered. Make sure your payments are up to date before doing this. Talk to all your creditors and ask for lower payments for a year to help you out, explain your situation to them and maybe they'll understand. Good Luck!!
7. sup, i fixd my credit wit this one company....they only charged me 500$'s to fix my credit n it was pretty messed up....good luk... www. milleniumfinancialservices .com