Reply to repairing credit

Forum Index » Money and Finances

Reply to "repairing credit"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Also, he can help his credit score by reinstating the credit card that caused the problem, using it for a small amount every month and paying it off dutifully.  While CC flags can lower your score, if you then continue with the same card but have a clean record going forward, lenders and creditors will often overlook at historical problem if it looks like you cleaned up a problem and you have a reasonable explanation for the problem that shows you were not living beyond your income.   Your husband should contact the CC company and say that he has reconsidered and would like to get the card reinstated and explain why the late payments occurred (the fact that they were so regular and scheduled will help).  Often a card company that has made a lot of money off a client will reinstate a card if they see that the person is not overspending and has the means to continue paying the card.  He should also ask them to lower the available credit to something small, say $1000 or $2000 and that will help his credit score because it will keep the available credit below his monthly income.  Then use the card a little each month and pay it off on time.   [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics