Repairing Personal Credit
 

Hello. I have bad credit, due to personal bankruptcy of a couple years ago. I am trying to decide how I can improve my credit rating. One idea is to get a secured installment loan at my credit union. They require one to open a cd, with a minimum deposit of $2000, but they dont charge a loan fee like the banks ($100 or more). Would this significantly improve my credit rating? My plan would be to pay it off sooner than needed.

Also, if I get a secured credit card, and pay a bit over the minimum reqired (perhaps 20%), would that be a big help?

Any suggestions?

Jay

Re: Repairing Personal Credit
 

Jay -

> Hello. I have bad credit, due to personal
> bankruptcy of a couple years ago.

Check out www.creditprovide.com. I'm not affiliated with them in any way. Just know about them through my travels on the Net. There are others as well. I think another one is www.lexingtonlaw.com.

Rick Smith, "The Net Guerrilla"

Little tips Re: Repairing Personal Credit
 

Jay, getting a secured credit card or loan would help - but make sure they report it to the credit bureaus. Pay your bills on time. Keep balances low on your credit cards and other revolving credit lines. Apply for new credit accounts only as required. You want positive information to show up in your credit report. Hope it helps.

Best,
Alexander
MiniJV Specialist
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