How can I rebuild my credit?
The key to financial power lies in your credit rating. If you plan to get a home loan, save money and get better credit starting now!
Well my question is - 1) have you taken care of the hot checks and if so then you should be able to get a bank account. If you have not then you have to do this.
There are a number of credit cards for people with credit issues but be prepared to pay an annual fee and very high interest rates, so make sure you pay it off monthly
Rebuilding this will take a while but get a free copy of your credit report and clean up everything that you can on it and have them to put comments on items that you are disputing until they are resolved.
How can I rebuild my credit?Well you MUST payoff those checks. The worst thing you can have on your credit is bad checks. If things have gotten that bad you might likely have a warrant out for your arrest for writing bad checks.
Once you get the checks cleared up, try getting a secured credit care. IE you open a savings account, and they give you a credit card secured by your savings account. Once you've been making payments on time for a year or so they might release your savings to you and make it a regular credit card. The best place to find a secured credit card: www.orchardbank.com
Let me clarify: There is such a thing as Chex systems. Stores use it to see if it's safe to accept your checks and there is another version for banks to use prior to opening an account for you. What I was talking about, was having a bad check actually show up on your credit report. It's rare but I have seen it. When you have bad checks on your credit report, it's very hard on your credit.
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