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Earning More Money and Improving Credit Rating?

doc wannabe
How To Raise Your Credit Score in 9...
How To Raise Your Credit Score in 90 Days Or Less

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So my credit rating sucks and it's because I've always made like 8 bucks an hour and never had enough to pay my bills and feed myself. My goal is to be able to make more money so that I can eat AND pay my bills. Most of my credit problems have been charge-offs. My question is: have any of you ever been in that boat (had a bad credit rating, esp. with a lot of charge-offs) and then was able to make more money and start paying your bills (AND eat). If so, how long did it take you to get your credit up high enough to buy a car or a house? Did you try to pay the charge-offs, or did you not bother with them? My FICO is about 630, I think.


Thanks for any help or advice you might have.

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630 FICO isn't terrible to be honest.


When you have a charge off it's negative no matter what. Even if the creditor accepts payment, they've already written them off as bad debt. So it's pointless to actually pay as much as people will argue that you are obligated to pay. The only way to really pay & have them remove it would be in writing. There's no other way around because creditors will lie to you over the phone promising you to 'update' your credit report. Just never happens. Like I said, it's possible to get them deleted.


If you want more information & great resource would be link removed forum. There are wealth of information and though I have to warn you it may be overwhelming at first, it'll open up your eyes on credit and become better at money management.


As far as raising your FICO, it's a combination of patience, learn about your credit as much as you can and figure out what works for you. FICO doesn't jump over night but say for example if you get one charge off deleted, it could mean 60~100 points depending on what the rest of your report looks like. The best part? You can raise your score within two years significantly. I know people that raised their FICO in the 500's to mid 700's in matter of months. Granted, if you have a lot of negatives it may take months and ever few years but I can pretty much guarantee you that if you work hard at it, you'll land in the 700's in no time.


Give yourself at least few months to familiarize yourself with the credit and start reading the FCRA. It looks like mumbo jumbo at first but trust me, you'll know more about credit than any financial advisers who often give you the wrong advice on the subject.

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