Building/Rebuilding help/suggestions/comments

QuestionsBuilding/Rebuilding help/suggestions/comments
Eddy Geils asked 4 years ago



ive been able to lease an apartment, twice. And I’ve been told I could receive a 30-35K personal car loan for a slightly used Land Rover in the past six months. I have a checking and savings account at a large bank. I make decent to good money (I’m 31). I leased the apartment but decided not to eve. Try to go for the car. I do a lot of assuming when it comes to credit. I’m good with numbers, but haven’t really payed enough attention to the percentage, etc over the years. Which has caused me to my pound my head into the wall. 


Again, on assumption I haven’t applied for any cards whatsoever. Or much else for that matter, except an apartment. But, after a while I’ve come to terms with the fact I have to deal with this asap.


A quick rundown. I have checked my credit a couple of times, it hasn’t changed much, it’s in the mid-high 500’s. I am aware this isn’t good. The things on my report are all small amounts. 150-300, a couple of them are below $ 100. (Not an excuse, but I’ve had to move around a LOT for work and I was aware of only about 60% of these). I have a good job, thank god.


But I have no idea where to go from here. My parents and sister say I need to get a secured card. But, to me, that just seems like a cash card that won’t help enough. Or, I should buy something small on credit and that will help. These suggestions are given to me by well established people, that have probably never dealt with this. My argument is that I need to forget buying and focus on paying back 5-10 or such of these small/medium sized debts before I apply for anything. 


Ive talked with my bank, they also suggest the secured credit card. I’m extremely unsure. Also, they have told me my debt is way too manageable to declare for bankruptcy.


One more thing. I’m about to be in pretty dire need of a car. I’ve never bought one in my name and I’ve heard, on these boards, that a few large car companies have first time buyers “programs”. Is this worth looking in to? Or should I wait it out, pay what I can when I can?


Apologies if that’s too much information, but I’d really like to get moving on this.




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