Bad credit blues
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Bad credit blues
| Fri, 10-01-2004 - 2:46pm |
When my husband and I applied for a mortage about six months ago, we learned that I have abysmally low credit -- as in 75 percent of the population has better credit than I do. (The problem: high balances and several late payments from about a year ago when I was busy planning a wedding and let my bill paying slide.) The lender wouldn't even consider giving us a loan with my name on the application. Fortunately, my husband has a great rating and makes a good salary, so we were able to get the financing we needed for the house on his credit alone. Now, we're looking to buy a car, so I checked my scores again to see if they had improved. Though they had improved slightly, they are still at the bottom of the heap. Again, this most likely will not be a problem when it comes to buying a car given my husband's credit history, but my low credit score is a continued source of embarrassment and is hurting my self-confidence. I am a smart, well educated person, who has a good job with a good salary, but it's tough to feel good about myself when I know that, were it not for my husband, I'd not have a house or a car. Plus, I'm thinking of looking into a new job in the near future, and my credit rating could be an impediment. I've stopped using my credit cards entirely and am trying to make twice the minimum payments on my cards each month, though curbing my spending, admittedly, is tough. I know it will take time to repair my credit, but does anyone have any tips for mending my self-image in the meantime? Has anyone suffered a similar experience?

hth
~Dawn
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All my best,
Danni