Does anyone know how to improve credit score?
I’m 46, divorced, my husband took most of our assets and left me with bills because he put everything in my name. I have 4 kids, still owe money on things we were paying off together, and my job is only part time at present. I was working more but lost half my income due to covid.
I had my credit score checked last week and was horrified to learn it’s only 86.
I’m scared I’ll never own anything ever again, I’ll never be able to buy a house for my kids and I and get out of this horrible place I’m living in now.
I barely make it through from pay day to payday as it is. We don’t have an extravagant lifestyle.
How the heck to I fix this? I feel like such a failure, when my peers are living in their own homes, owning boats and horses and goodness knows whatever else.
Getting out of poverty
Getting out of poverty
Posted in:
Mental Health, Anxiety & Depression, Parenthood Guilt, Money
3 Replies
Can you pay more then the minimum towards all of your bills, even just an extra $5 $10 on each of them per month (or however frequent they need to be paid) Make every effort to pay them early, even one day late will effect your score.
Stop using credit cards for awhile, having credit available on them will also help build your score.
Stay well away from payday loans, zip pay and afterpay - I totally understand that afterpay is a god send when money is tight but all of them do credit checks, and the more you rack up the more it effects your score.
Any additional income you make, working a public holiday, overtime, tax returns put it straight onto debts.
For me, I recorded what I owed on every debt I had at the end of every month. It helps to be able to see that you are chipping away at it.
Peoples circumstances change, you cant compare yourself to others, if they havent been through it then lucky them, but youve taken a huge knock.
You will recover. Because hes gone. It will take time and it is quite distressing to be in that at any point in life, its not what we expected and hoped, plus this year has added extra challenge. You will get there though. I probably wouldnt worry about credit rating and would just focus on paying off debts.
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