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What Should I Do to Get my Credit Score Up From 400? – TLT


“Dear Steve,

Great job make about $60,000/yr. 2 children. Single parent. Between my rent/utilities $1200/month, Car and Insurance $600/month, money I owe to grandmother $700/month and daily living expenses.

My kids are athletic I pay for sports, all equipment needed. I pay for all aspect of our healthcare. I have a ton of bills. Public records, judgements, defaulted student loan, old-closed credit card bills coming to me for settlement offers, old cell phone bills in collections, medical bills, a repossession that I was cosigner to in 2005, creditors calling me everyday about 10 times per day.

I have no extra money once I pay my immediate bills and when I do have some that could go towards one of these problems, I don’t know who to pay first. Seems like it won’t end even if I pay a little to one company when I can so I find myself not paying.

I am so overwhelmed with collections that when people tell me to pay a little to each it make me crazy. The companies don’t want a little, they want large lump sums of $200 or more. I don’t have it to give.

I desperately want to fix my situation, but how. I also have a hectic job that starts at 8am and ends at 5pm. I cannot find time to call these creditors and haggle with them especially when I cannot financially do what they need me to do.

I am 35 years old. I rent a 2bdrmm townhouse, but want a house of my own in the near future. Because of my income I’m afraid that I may have to pay for my child’s college education myself, he’s 13 years old.

Do I apply for bankruptcy? Where do I start because in reality, once my immediate bills are paid I have little left over. No support from children’s father he never pays child support to the court.

What are my steps in getting my credit score from the 400 to 500’s that I’m in to at least a 650. I was at a 650 about 4 years ago and then my life turned upside down. I had another child, no support from children’s father, moved out on my own and aside from being blessed with good health of my children everything else is gong down hill.



Dear TLT,

I was hoping that you had some extra money available for debt repayment but once I saw that you didn’t and that part of your debt is for an old repo, well I’m afraid the die has been cast already for you.

You can go and try other options but I honestly think this is a hole you are not going to be able to dig yourself out of without bankruptcy. Contact a local bankruptcy attorney and make an appointment for a free bankruptcy consultation.

You should also pursue the children’s father through the court for child support. Not for yourself, but for the children. It is actually the money legally awarded to care for them and the kids need for you to fight for it for them.

Going bankrupt will help to improve your credit score. I know, that sounds crazy. Your score is horrible right now simply because of all these open collection accounts. Bankruptcy will end all of those. Once you go bankrupt you can start to rebuild your credit again with a secured credit card. A secured card will let you safely start to build new and good credit if you use it responsibly.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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