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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Finance
Satisfied Customers: 37479
Experience:  NASD Licensed Rep, 1997-2001, Business Attorney
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My credit score is poor, while I AM trying to build my credit

Customer Question

My credit score is poor, while I AM trying to build my credit back (filed bankrupcy in 2004, my ex husband and I repayed, I'm not sure which one that is), is there any advice you can give me as to boost my score quicker and I want to buy a house but have no money to put down. Do I stand a chance at getting a loan??? I have lived in the same rental house for the last 6 yrs and will have my 10 yr anniversary at work in December. Do lenders look at these aspects as well??? Oh, I am a first time home-buyer.

Thanks,
Jennifer Boley
Submitted: 2 years ago.
Category: Finance
Expert:  Dimitry K., Esq. replied 2 years ago.
Thank you for your question.

May I ask, have you actually run your credit check yet to see where you credit is currently?
Customer: replied 2 years ago.
No I haven't ran one this year, but the last time I checked it was in the mid 500's I believe.
Expert:  Dimitry K., Esq. replied 2 years ago.
The reason I ask is that typically bankruptcy remain on your record for 7 years, and since it has been 7 years, it is very possible that your credit has actually already improved enough to make you eligible for bigger purchases. Otherwise great way to improve credit are to have credit cards (but not carry a balance more than about 1/3 of the full limit), have car loans paid off faithfully, or be co signed on smaller debts that are all paid off quickly. Federal law requires that you are able to obtain one free credit report a year, which I suggest you do today and find out where you stand. You can go to www.freecreditreport.com or other websites where you are permitted to get one report. If you wish to know the full picture, pay about $30 or so for the full 3 credit report + credit score option so that you know exactly where you stand. Until you do, you will not know what if anything you need to modify.

Good luck.

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