saraax

well, in my case, my debt to income ratio is quite high, and I dont have anything to secure a loan with. I want a loan that reflects the fact that the money will be used for paying off credit card debt, because I dont think I will qualify for that loan otherwise. I did NOT apply for the unsecured loan with NASA FCU yet, though. According to the customer rep, they approve loans with my credit score, but not necessarily with my low level of income. At this point Im being verrrrry careful what I do credit wise, as Im in the 670 range and points here and there can add up. Should I just go ahead and apply for the loan first, and then figure out something else if Im denied? NASA's plan of action after that would BE a DMP, I just feel like that road should be my last resort. but alas, maybe I am there already.......sigh

I too am looking for suggestions on this; I have accounts with NASA FCU, but they dont offer debt consolidation loans. My situation is exactly the same....I have fairly good credit but I can't continue to pay 29.99% on my 5 cards, my kids will go hungry soon....and my job does pay but not necessarily on set days, which messes me up with paying on time. I got to this point by being a day or two late every other statement on all the cards, for the last year or so. I tried calling for DMP, with Balance, but I kinda feel like once I told them I was on time will all the cards so far, they didnt think they could do anything for me. They suggested a debt consolidation loan.

man....... Im a total and complete noob and should NOT be spending time being entertained by this thread while I have sooo much other reading to do!

Bleargh. Not exactly what I wanted to hear, but sound advice nonetheless. Is six months the standard I should look for, with like, 70% utilization, before asking for CLIs? or is it more dependent on when my scores go up....

ha ha, I think someone posted while I was replying. Thank you for your input! I think you are right about the INQs on the low limit cards...I think thats whats held me from actually doing that so far. I've been scared to see my FICO/FAKOS go down any further.... ha ha, you said 19k on a 20k Amex. Its actually more like 7k out of 8k on two Citis 7k out of 7.5 on 1 cap1 7k out of 7.5k on 1 disc 2k out of 2.5k on 1 BOA 1k out of 1.5k on 1 Chase so what, like, 95 - 97% utilization?.... but on the other hand, maybe I shouldn't be so squeamish about letting my credit drop further with inqs. I tried the one BOA and got scared. I did just try a citi online (with no hard pull) and got declined for too high a balance.... I have 2 mortgages already, so not going for a house or a 2nd mortage anytime soon. I keep thinking, just one card would give me space to make mass payments and allow for payments to be on-time regardless of my pay situation....? or maybe you experts have a completely different way in mind for attacking this problem! Im open to suggestions. I can keep on keepin' on, of course, but why pay more if there is a way for me to pay less?

Im looking for a little breathing room..... My story is, fairly good credit all along, maybe a late or two here or there, but nothing major. however I've run up a good deal of debt due to medical issues while pregnant which did not allow me to work. Even with that, I did pay on time, and thankfully have maybe 1 late reporting on all my lines, though many times I did incur a late fee for paying 2-3 days after the due date. My rates have been jacked mainly for this, I believe, I pulled my report and could only find 1 30day late reporting on all my lines. I pay at least 28% on all my lines (!!!!) I work for a tiny non-profit with huge payroll problems - because of this, my paycheck, while guaranteed to me, is in no way steady....so I do try my best to avoid the late fee and rate jackage, but can only do so much.... Now that I am in good health and working steadily, I am confident I can pay down debt easily and steadily. but I feel like I'll never get anywhere if I have to pay 28% on everything!!! My scores I did mention, 651 EX, fakos in 670 range. Did a stupid thing and let a BOA CLI register as a hard inquiry, which is why EX is at 651. AND I got denied, partly for too much utilization, and also partly (I believe) for low income to debt ratio. I actually need to correct this, somehow - as far as I know the last time they verified info I was making much less than I am now. I know they called to verify that I actually AM working (I've got friends in our finance dept!) but said nothing about salary, cuz if they'd asked I doubt I would have been denied..... Anyways, Im trying to find a way to get myself some breathing room with the idea of getting as low interest rates as possible, and I had the bright? idea to decrease my utilization % by getting a number of $500 limit cards, either store cards, gas cards, or whatever..... Do you think it would work, or would I just be shooting myself in the foot with inquiries that come along with the applications? now that I am working I am not accruing any more debt, except for when I have to rob peter to pay paul because my pay is late. ..... Any suggestions would be truly appreciated!

hoping for opinions before I make a move!

Hi! I've been searching but wanted to get opinions on this: It is a good idea (at least for right now) 1. To try to decrease overall utilization by applying for CCs? Im at 90%, but all on larger lines from banks such as Crap1, BOA, Discover, etc. My EX score is 651 and I have fakos in the 670 range. Getting accounts from walmart and target would help my utilization ratio even if I get a low limit and don't use the cards, right? OR!!!! Does the inq. to get these cards hurt my score more than having more credit accessible to me would? 2. Should I try to go back and open some of my smaller store cards marked 'closed by grantor request' to do this? I closed them back in the late 90s when I didn't know any better and thought closing cards was a good thing. Thats if I CAN even open them back up.....

Thank you so much for replying with the information you provided! Can anyone provide links to threads I should read about the benefits of incoporation? Thanks!

Please dont hate me!! I've tried to search but maybe I just missed it completely? 1, How can I check my Biz Experian Scores? i.e, where do I go? And, is it like D&B where I should only be checking once in a while? 2, I've had a DUNS for federal grant use for 3+ years but I've been filing as self employed. I checked it after reading the DUNS thread, and what do you know, I have a paydex of 70! But I think the highest CL reporting was 250. I mistakenly closed out the browser before getting more information, like who was reporting and for how long. (is that information easily found on the report? If so I can wait two weeks and open again) 3, If I have a paydex, do I need to start with net 30s at staples, quill, etc, or can I start trying for revolving credit? And when I do apply, can I just put my DUNS, or should I really get an EIN first? OR, should I do something(s) else to put my biz on 'solid ground' before this? I have my biz info listed as sole propietor/home address in my DUNS file. 4, My main goal if its not clear is to build a solid biz credit profile, then get approx 15 - 25K revolving credit for biz expansion...I CAN pg if necessary I think, but my personal credit is at about 90% utilization and FAKOs are 650-670 or so. I think my scores are ok but my utilization is way to high and DTI is nowhere near what they would like.....what exactly do they look at when doing PG, is it a mix of FICO/DTI/utilization? or does it lean for different companies? Im SO sorry if I've missed the answers to my questions somewhere! I will gladly take links to threads I should read, if you have them, too. I HAVE read most of whats pinned, though......god I sound sooooo noobish, apologies in advance....sigh