How is it possible to build up my credit after destroying it, in one year?
I am seriously depressed about this and think about it every single day.
I had to move out of my dads home, due to personal reasons, and I had the perfect credit scoring, I work full time, and I have some money in the bank that I "inheirited from my dad", Though moving out and now paying rent, utilities, and everything I basically need to live, its really tough to pay, and Im also very disorganized and at times forgetful. I have forgot to pay utilities, and bills on time, which I know really hurt my credit, basically credit cards such as department stores eg; old navy, american eagle, ashley stewart, walmart, and lowes. I figured getting a credit card for things I couldnt afford would be easier to pay off, and then I could just pay my must pays completely, well I suppose. I paid off the old navy card and cut it up, I just paid off my lowes bill, walmart I use for groceries, and I still owe 108 dollars for ashley stewart, Im trying to not have any credit cards at all, but I have nooooooooo idea how to build up my credit again? I owe 2,500 dollars to a university for tutution that I didn't even go to school for that particular semester. I don't think I would be able to get a loan because of my horrible credit.
Im just looking for a way out before it gets to out of control, I only have me myself and I, and was just looking for guidance support, and someone who can lead me to the light of financal stability. Thank you for taking time to read this and hopefully putting in some input. I know im only 22 years old, but the stress is literally killing me slowly.

Having credit cards is fine - so long as you don't over use them.

I always advise people to have a credit card, but only if they can pay off the balance every month.

I would recommend you look to keep your existing credit cards open, ensure they are paid off as fast as you can, and then use just one of them for normal purchases with a direct debit or similar to ensure it's paid off in full every month.

IMO this should certainly help set you back on the road to recovering your credit rating.

Hope that helps.

Step 1: Get roommates. Seriously, this could cut your rent/utilities/food down by 1/3rd.
Step 2: Talk to the University's financial aid department rather than just worry. Chances are it was a mistake and if you're nice to the people that work there and are patient, they will help you get rid of that charge.
Step 3: If possible, patch things up with your dad, parents can provide a lot of help because they have something you won't have until they are nearly gone: Experience.
Step 4: Wait. Paying bills on time for 7 years should give you the great credit you deserve, you just need to wait for the bad stuff to drop off your credit report, which it will, in 7 years.

You just need to get things paid on time from now on. Like the previous poster said, you can rebuild credit. Your credit will rebuild if you simply pays things on time from now on.

First, pay your bills on time. If you cant remember, set them up to be automatically paid online.

Pay off your credit cards, get a second job!

It's nothing to worry about. Seriously.

Your credit score is simply a bank's way of gauging your reputation for paying someone back.

At the moment, banks have a bigger problem themselves - getting cash to stay in business.

Right now, high credit scores are not any more useful - because banks can't even lend money.

I've been in a dire credit crisis myself over the past 12 months - and the more I worry about it, the more I answer the phone calls - the more I begin to worry about the future.

Last month, I decided to pull all three of my credit reports and go over everything with a fine tooth comb. I found crap in there from several years ago. And I mean CRAP!!! For instance, I closed a few accounts several years ago - TransUnion still shows them open. I sold a home over two years ago - Equifax still shows that I have a friggin mortgage!!!

Honestly, with all these bank mergers and failures, it's only going to get worse on the housekeeping side.

The part I hate most about credit reports is that there's three of them, and I'm not the one who's responsible for maintaining it - the bureaus are. But for some stupid reason, the entities that make comments on the report (ie: BANKS) can't seem to keep accurate records on the reports that they so desperately rely on. So credit, going forward, is BS.

I've pulled all of my reports and scores almost two months ago and sent out all sorts of nasty, bitchy letters to the banks and the bureaus about all the problems in my file - still no response.

But if I can give you any advice, pull your reports from somewhere like creditreport.com (they can pull all three at once for free) or directly from each of the bureaus and make sure that it's accurate. Then send some letters to correct any problems and forget about all the panic and stress.

You're only 22. Solid credit takes time to achieve - and only people who have to borrow worry about their score. You don't hear about Paris Hilton worrying about her credit - SHE DOESN'T HAVE ANY!

This is typical when people move out for the first time, especially young. People normally don't notice the cost of living due to the fact their parents, or others, pay for the bills. Sounds to me like you need to start with yourself first. You have poor spending habits and live above your means. Get yourself organized by getting a filing cabinet or file case, and some multi-colored folders from Wal-Mart for $15.00. I like the red, yellow, blue ones. Each color will stand for a different thing. Mine, Red = bills (red for debt), Yellow = things I need to save, Blue = Medical records (dental,ect). Post your bills where you have to see them everyday. I have an office with a big cork board I post them on. Get a calendar and make the date your bills are due on 4-5 days before they are due. That way you will get into the habit of paying your bills up to a week early and not have to worry about them being late. After paying, write down your confirmation number, date it was paid, and the amount. File it. I.E. Say its a phone bill, file it in red folder marked "Phone". Next stop spending your money on things you do not need. Yeah it's nice to be best dressed but which is better, impressing people, or having a fat bank account to impress yourself with. No one will care what you are wearing the day before. I personally try clothes on at say Express, write down the style number, then get the same jeans for $15.00 of ebay, ect instead of $60.00. I never pay close to retail on anything because someone else will always offer a better deal. Get a REASONABLE budget and stick to it. Start with things you need, i.e. clothes (doesn't mean top of the line or a $1k budget), housing, utilities, food, ect. When you get paid take a set amount out for savings, pay the bills with the rest. If you have money left over then you can spend that the way you want. You could add a little more to paying off debts and/or hang out with friends or whatever. Get a second job if you have to, in order to get out of debt and save money. Stop using your credit cards but do not close them. Closing accounts will hurt your score. Have one useful card, say a Visa and use it for things like gas. Be sure to pay the card off IN FULL every month. This will help build your credit. Once your other cards are paid off, use them once a year or so to keep them active. Getting a loan is not going to solve your problems, but make the problems worse. Unfortunately, it is way easier and fast to destroy your credit, then it is to make it better. You can destroy it in a month or less but take years to fix it. I'm sure I missed something but I will leave you with this. Get your habits under control and organized or you will live the rest of your life like most people, always spending more to keep up with the Jones and in debt up to eyeballs for the rest of your life, never really being able to enjoy anything. Your young, smart for realizing the problem, and have time to fix it. So get proactive about it! Good Luck!

don't panic. I think you need to focus on paying those credit cards off first. Once you do that, try not to use them. Credit cards are good to actually raise your rating (but only if you can pay em off on time!)

Also, if you have an overdraft on your debit card, make sure you are staying OUT of it. Always try stay in credit. The more borrowed money u possess the lower your rating will pummell. So try keep in the credit mark ok.

If I may suggest, I have the perfect solution for your situation. It is called a Debt Management Program. It is not a loan nor a settlement, it is a program most people are unaware exists. The program was created by creditors themselves in order to recapture the original principle owed to them instead of risking loosing it, and at the same time allowing you to get out of debt about 75% faster while keeping your payments around the same, or in most instances, actually lowering the payment. This way, most of your payment will go towards your balance which will allow you to save a significant amount of time and thousands on interest. It works by making one simple payment that is distributed to all the creditors for you at lowered prenegotiated rates they are willing to offer you for being on the program. Being on the DMP, most creditors will give you the benefit of waiving late/overlimit fees, plus they will report your account in good standing so it will also help you rebuild your credit if you have deliquencies. It is a win win solution that can lower your payment, save you thousands on interest, pay off your debt 75% faster, plus help your credit at the same time. Neither is there a need to pull credit or be within a certain Debt-to-Income ratio. If you would like to find out more about it, dont hesistate to contact me with any questions, ill be more than glad to help, you should try this # (877) 219-9024.

Almost everything I wanted to tell you has been said. I've been there, I know how it feels. The struggle and constant sickness from the debt getting worse and worse is a feeling I know quite well. It takes time to build your credit, theres no overnight solution - I learned this very quickly. My saving grace was free help from the government from federal grants I don't have to pay back. With your circumstances there is a good chance the government will help you. If you want more info please PM me or visit my blog for my story and a guide on how to get started. I really hope this helps you and you get back on track with your credit and life as I did after going through the life altering process you can read about on my blog. Good lucky and hang in there - it'll get better!