Question

How can a single mom with poor credit improve her financial situation?

Answer 1

Check out the women's resource centers in your area. If you can't find any call a social worker

Answer 2

You need to contact orchard bank they will give you a credit card (though it may be a secured one) and you can build it up that way

Answer 3

You can go to a credit counseling agency to get help with any debt. I recommend one that does not charge a fee for their services. You have to be careful with the others. A good way to get better credit fast is to pay more than your monthly payment... if you can. I know that is very difficult when you are a single mom. I've been there. Email me with more details on your situation and I may have more suggestions.

Answer 4

try getting grants...housing, education, small business. It's very simple for a single mom to get a grant in many areas.

Answer 5

Try Consumer Credit Counseling, they'll factor your expenses and contact your creditors. You'll have to list as all your creditors, but you'll wind up with one payment which they will divide among your creditors. . . BTW, Consumer Credit Counseling is their business name.

Answer 6

how bad is it? you can send alittle every month to whom ever you owe. if they do not take what you sent save the returned check or money order and keep sending it as it proves you are trying.if it is that bad file bankrupcey,yes it takes 10 years to get off your credit report but what do you have to lose. i filed in 1990 2 years later we bought a new van but we did have a big deposit. good luck to you

Answer 7

See a credit counselor.Check your credit score and get a copy.It may not be as bad as you think. Have you applied for a credit card. Start small and pay it off.Think positive!!! Peace.

Answer 8

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Answer 9

JustingJoiningThe Fun had an excellent suggestion - The CCC can usually consolidate your payments into one payment and is sometime able to negotiate a lower interest rate. Also, paying a small amount on time is better than nothing. I found that just calling your creditors and explaining the situation helps. They are able to put you on a payment plan/schedule that will problably be lower than what you are currently paying, but the catch is you have to pay on time!! I know - I've been there!!. . I've added a couple of links, the first is to CCC, but you really need to check it out to make sure of the area they cover. I also included CCC for the San Francisco area - which may not be close to you, but can probably point you in the right direction. . . Keep the faith - it may look bad now, but it can only get better and tomorrow is another day!!

Answer 10

It takes a while.. I've been working on it. During the divorce the hubby filed bankruptcy with me. Then I remarried and the second guy was a fraud expert and left me with tons of bills. Not to mention a car repossession that they sold the car for 12,000 less.. I had fabulous credit before all this.. It has taken a few years but during the past 5 years I've been able to buy cars on a high interest but I need a dependable car I commute.. I have opened up two charge cards hsbc is one of them. Be careful here. You don't want one that costs an arm and a leg. I paid like 89. to open and like 6.00 a month for the yearly fee. Yes it costs but it is building up my credit.. It is all going away but I NEVER NEVER pay a bill late. Now realize I left all the rest behind me and only work on what I have.. Just draw a line. From this day forward...I don't use credit only cash. Thank goodness I had the smarts to open a bank account before all this that I've held on to. Or else the check cashing fees are ridiculous.. My credit is coming back. good luck