timeline for credit score imporvement?
Find a Conversation
| Tue, 05-24-2005 - 12:19pm |
Can someone give me some information about what happens after you have fixed alot of the financial disaster?
two yrs ago, visa refused to renew my husbands card (500 on it at that time) paid it off, canada student loan went to collections (6000) paid it off over two years ending this february finally. everything is now up to date and I have paid almost half of what is remaining. trailer down to 1500 (co-signed) , 2nd student loan 5500 and student loan 600. Thats all thats left, will have it all paid back by december.
two yrs ago his income was 2000 gross/mth. Now its 3500/gross.
He has only one or two late ossap payments in the last two yrs, and now that collections is paid back and everything is paid up to date (most times more than required/mth)
Do canadians have the "score" that the americans are talking about? will his score improve? about how long? a year, two, six??? Will he be able to get a credit card again? we want to buy a house someday, and I want him to start good credit towards that. He used to be spender, now he is so careful with his money. He's ready, but will anyone give him credit again?
What do you do first, and about how long after being financially responsible do you try?
Please help, this board has been the only reason we got this far, I am hoping that we can go forward now to someday being homeowners.
Thank you in advance...Michelle

I've (sadly) learned a lot about credit score repair.