I Have poor credit and I need a Student loan in November what should I Do?
My credit isn’t that bad I have two collection agencies calling me for credit cards i got when i first got out of high school a couple of years ago. I just got a recent credit report form experian and it showed I have one good mark on my credit for paying off my class ring on time from friedmans, thats kind of whats keeping me out of the No Credit or Very poor credit rating. Both collections agency are willing to settle for a grand total of 1300 dollars. If i pay this will my credit be good enough for astrive or any other place to accept me. Already filled out the fafsa the helped out a good bit but still need living expenses. Any advise is welcome, Thanks in advance. School starts in November So i have time to fix mistakes before the loans are needed first two months are being fitted by the parents. Plus Mom and dad wont be cosigners they said they paid the first two months rent and after that im on my own.
Credit building can be difficult. It is more difficult if you have no credit. Usually to clear things up on your credit report you need 6 months. As far as the credit card settlements depending on the length they have been in collections depends on rather you should settle. It is always better to pay them completely off. It will show that you settled for a lesser amount on your credit report. There are other forms of credit that people don’t know about or never realized. You can use your cell phone, car insurance, utilities to show that you can make payments on time. Depending on where you get the load I would go in a talk to them and explain your situation to them and see about using non tradional credit. I just want you to know that I am 23 and have managed to buy my own house and have 3 cars with NO payments. I did get myself in some debt but have pulled myself out of it. Best of Luck
