Jan 18, 2009 11:27 PM GMT
I honestly don't know who to talk to about this, so I thought I'd consult the wisdom of the masses.
Long story short, due to unwise financial decisions I made with my ex when we were together, specifically in the realm of credit cards and loans and trusting him with the responsibility for them*, my credit score is nothing short of fucked. The silver lining is that one doesn't need to have a decent credit score for school loans, but I can't refinance my car for a lower interest rate, can't get the interest rate on my credit cards down (most of which I keep perpetually paid off, but one's been a bugbear), and doubt I'd be able to get a home loan any time in the near future. Not that I'm planning on getting a home just yet, but I'd like that option before I'm 40.
So how do I go about fixing this? All things that are in my name alone are in decent standing; there is one delinquent account that he neglected to pay off, even after I gave him half the money to do so, so I can start the 7-year countdown after I take care of it on Wednesday. My score has me listed as "financial toxin", so I can't do the trick where you get a small loan, stash it in savings, and then pay it all back on the due date of the next billing cycle. I think there's an error on two of the bureaus regarding my place of employment (which I swore I corrected months ago), but the overall history seems to be accurate.
I know that the biggest factors are just paying anything/everything on time and, well, just waiting. Are there steps I can take to help speed the process along, or am I just generally fucked for the time being?
RANT: Why don't they teach this crap in high school economics? Thanks, insufficient standardized education requirements!
*Side note, Re: Barebacking thread. Amusing that I think a partner can eventually be trusted for unprotected sex, but I don't think I'll ever do a joint checking, savings, loan or credit card ever again.
Long story short, due to unwise financial decisions I made with my ex when we were together, specifically in the realm of credit cards and loans and trusting him with the responsibility for them*, my credit score is nothing short of fucked. The silver lining is that one doesn't need to have a decent credit score for school loans, but I can't refinance my car for a lower interest rate, can't get the interest rate on my credit cards down (most of which I keep perpetually paid off, but one's been a bugbear), and doubt I'd be able to get a home loan any time in the near future. Not that I'm planning on getting a home just yet, but I'd like that option before I'm 40.
So how do I go about fixing this? All things that are in my name alone are in decent standing; there is one delinquent account that he neglected to pay off, even after I gave him half the money to do so, so I can start the 7-year countdown after I take care of it on Wednesday. My score has me listed as "financial toxin", so I can't do the trick where you get a small loan, stash it in savings, and then pay it all back on the due date of the next billing cycle. I think there's an error on two of the bureaus regarding my place of employment (which I swore I corrected months ago), but the overall history seems to be accurate.
I know that the biggest factors are just paying anything/everything on time and, well, just waiting. Are there steps I can take to help speed the process along, or am I just generally fucked for the time being?
RANT: Why don't they teach this crap in high school economics? Thanks, insufficient standardized education requirements!
*Side note, Re: Barebacking thread. Amusing that I think a partner can eventually be trusted for unprotected sex, but I don't think I'll ever do a joint checking, savings, loan or credit card ever again.