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How to build credit from ghost credit to bad credit

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justluv



Joined: 19 Aug 2008
justluv's page
Posts: 2
Location: south jersey


141 Magic Points

Subject: How to build credit from ghost credit to bad credit
 
Posted on Tue Aug 19, 2008 10:22 pm  

i had ghost credit then bad credit and am try6ing to get good credit while i am still young only 19 and i have creditors after me what should i do?
fireyone



Joined: 26 Feb 2008
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Posts: 4246



80 Magic Points

 
Posted on Tue Aug 19, 2008 11:20 pm  

Depends on how deliquent your accounts are. If they are only a little past due you can try catching up the payments. If you are seriously past due call the original creditor and make payment arrangements to catch up on the debts. Sometimes creditors will add on so much a month until you are caught up. Let us in more detail your situation.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



356 Magic Points

 
Posted on Wed Aug 20, 2008 12:51 am  

The good news is you are young and you will recover from this nightmare. I commend you for coming here and trying to get it all straightened out. I will wait to see what your reply is to fireyone's response to comment any further. You will want to get this cleared up, ignoring it will follow you for a long time to come.

I look forward to hearing from you in the days to come.
_________________
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fireyone



Joined: 26 Feb 2008
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Posts: 4246



80 Magic Points

 
Posted on Wed Aug 20, 2008 12:54 am  

Yes we have all learned this from experience. Be sure to stop back and post any future questions and keep us updated. We will continue to assist you.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



356 Magic Points

 
Posted on Wed Aug 20, 2008 3:35 am  

what is ghost credit?
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
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anthony

anthony

Joined: 31 Jul 2006
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Posts: 516



13586 Magic Points

 
Posted on Wed Aug 20, 2008 10:02 am  

Hi justluv
Since you are just 19, you have enough time to rebuild your credit score. All you can do is to ask your creditors to arrange for a repayment plan which will enable you to pay back the debt. Try to repay back the debt because the bad debt gets listed in your credit report, it will stay there for seven years and lower your credit score.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
fireyone



Joined: 26 Feb 2008
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Posts: 4246



80 Magic Points

 
Posted on Wed Aug 20, 2008 12:54 pm  

Good Natured that was exactly what I was wondedring. I was thiking that it was being on a credit card with someone as a user of that account. I don't know if that is correct in assuming or whether it is just no credit at all. Hopefully someone will tell us.
Guest







 
Posted on Thu Sep 25, 2008 12:29 pm  

Hi Goodnatured
Ghost credit means having no credit history at all. This happens when you do not have any line of credit, nor even you have a credit card with you and you make all payments by cash. If you do not have any credit history, it is very difficult to get a new loan. This is the main reason why most parents make their children the authorized user of their credit cards, so that they can build up a credit history for their children.
Mary

Mary

Joined: 06 Jul 2006
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Posts: 684



17418 Magic Points

 
Posted on Thu Sep 25, 2008 12:30 pm  

Hi Goodnatured
Ghost credit means having no credit history at all. This happens when you do not have any line of credit, nor even you have a credit card with you and you make all payments by cash. If you do not have any credit history, it is very difficult to get a new loan. This is the main reason why most parents make their children the authorized user of their credit cards, so that they can build up a credit history for their children.
_________________
Where there's a will, there's a way !!
Angelo
Guest






Subject: ghost credit
 
Posted on Mon Aug 17, 2009 12:46 am  

I have ghost credit right now and don't know what to do, I have a car loan under my name, a credit card and cellphone bill. What should I do?
schrodinger
Guest






 
Posted on Tue Oct 05, 2010 6:02 pm  

ANgelo, that's not ghost credit. Your credit is your loan and your credit card, and if you are current on both, you have a small amount of GOOD credit. If you're young and these are your first "loans", then you are a "credit beginner". As you build a history of good payment habits and such, your credit will get stronger.

But I prefer to be a credit ghost. I pay for things with cash or debit card only. Even my cars are cash cars. I bought a cheapo hoopty to start with and saved my money until I could trade in the old hack and add cash to buy a new (as in, different) car without a loan. Then I kept doing that and eventually got the car I have now. It's a sweet ride, only a year old when I bought it. Imagine the looks on the salespeople's faces when I handed them the keys to my old car and then whipped out my DEBIT card to cover the rest-- I bought a $25,000 car outright! Priceless!! I just love doing that to people...
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1890 Magic Points

Subject: credit
 
Posted on Thu Oct 07, 2010 10:53 am  

That sounds like 'a plan', SCHRO..if you can do that. However...some people can't. I do agree, whatever credit that you have now, keep paying on it. This will help you establish credit. Every time you apply for 'new' credit, your Credit score, goes down, a few points. Just apy on what you have, at this time. As you do that, your Credit score will go up.
myrashubby
Guest






Subject: ghost credit
 
Posted on Fri Oct 15, 2010 3:22 pm  

I have ghost credit right now and wonder what my first step toward getting on the good credit track should be and how long it will take for me to get good credit ?

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