OurCommunityPower.org >  Credit Forums   Debt Forums  Mortgage Forums  Insurance Forums
CreditMagic logo
Close

    LOG IN
Don't have an account? Sign up

*Email:
*Password:
*Display Name:
* denotes required field
*Email:
*Password:
Forgot password?
*E-mail:
  
HomeCredit ForumCredit repair

How to build credit from ghost credit to bad credit

 Post reply  Start a topic
Author Message
Options
Print this topic
Invite a friend
Email this topic
  Bookmark online
Add to del.icio.us
Add to YahooMyWeb
 
justluv



Joined: 19 Aug 2008
justluv's page
Posts: 3
Location: south jersey


136 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
fireyone's page
Posts: 2858



1966 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
goodnatured's page
Posts: 3137



5332 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.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2858



1966 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
goodnatured's page
Posts: 3137



5332 Magic Points
 
 Posted on Wed Aug 20, 2008 3:35 am  
what is ghost credit?
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
anthony

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 493



12319 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.
You can also visit my blog
http://financewatchonline.blogspot.com
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2858



1966 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
Mary's page
Posts: 324



8704 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 !!
 
Quick Reply
Your Name
Subject
Message body
Page 1 of 1

 


All the works we publish comply with the Creative Commons Attribution License.
This work is licensed under cc by 2.0

Home Knowledge bank Forums About us

Members Area
  • Log in
  • Sign up
  • Bookmark us
Ask the Community
Join credit magic community
Search
  • Forum Search

Financial Tools
  • Credit Repair Tool

Financial blog reader.
Quick poll
How frequently should we check our FICO score?
Yearly 
Half Yearly 
Quarterly 
Monthly