Hello All, My name's Paul, and I'm here to learn how to rebuild my credit after stupid decisions in my life, and then maintain a good healthy credit score for years to come. I'm 21 years, divorced, and three years into the USMC. My end goal is to get my credit to the point where I can get approved for a car loan through one of the military lending institutions (like Navy Federal or USAA), although I'd be happy to consider other lending institutions if someone knows of one that works with the credit challenged. Just a month and a half ago I couldn't even tell you what my experian credit score was, but I've been ordering reports through USAA and working on improving my scores, mostly by paying bills that were late and paying down my credit card and my Military PX credit card. In that month and a half my Experian went from a 542 to the current 607. Other than remaining prompt with bill payments, I'm looking for advice or techniques on repairing a bad credit history. While I don't have anything serious like a judgment or a bankrupcy against my name, I do have a series of late payments on my personal loan through Navy Federal, and one or two lates on the cards. I know just the bare bone basics, like the importance of debt to income ratio and credit to debt ratio, but I'm very eager to learn more about how I can improve my credit. I'm very excited to get any and all input from those who have it to offer, and I want to thank everyone in advance for the help. I know people often times put hours into a post only to have people ignore their input, and I want to say that I'll do my best to move above that standard. Best Regards, Paul
Hey Paul, If your current on your credit cards I would first start with a good will letter. In short, a good will letter is a letter that pretty much would include statements in your paragraph. stupid decisions in my life, and then maintain a good healthy credit score for years to come. I'm 21 years, divorced, and three years into the USMC get approved for a car loan paying bills that were late and paying down my credit card and my Military PX credit card Just put all this together in a sob story and beg beg beg for them to give you a second chance and delete the late pays. Tell them your sorry and you will always do your best to not let yourself get into a situation again. blah blah blah blah, Anther tactic would be to dispute the late's with the BIG 3 and see what happens. Hope this helps Newbie79
You might even want to go in to the local credit union branch and talk to them. Give them the sob story and see if they'll give you a car loan. I haven't checked lately, but last summer the credit union was a percent or so less than USAA.
