I've posted here regarding it before months ago, but my parents fucked up my credit (mid 400's) and every lawyer I talked to didn't want to touch the case because it'd cost them too much time for me to afford.
I'm 19, don't have any credit cards. How can I fix my credit? My parents already said they both can't and won't help me fix their mistake.
Back when I was 17, either they or my university took out a small loan unbeknownst to me. Since I was unaware of its existence (and their house was my permanent mailing address while I was in school), they received the payment notices for it and never told me, they themselves apparently believing it was for my father (I'm a II). However, at some point, they decided they didn't feel like paying it anymore and just stopped payments, still without ever informing me (And I couldn't check the mail myself while in school and never expected any during the summer) while my credit score tanked. By the time I caught it, I was already 19 and they said there was nothing they could do now that I was above 18.
I almost had a far larger debt in my name when they offered to pay for a semester of school while I was talking to the loan office and they backed out of doing it without actually informing me, which lead to thousands of bucks getting sent to collection. I've been out of school for quite some time now trying to get the money together to return, and the reinstated financial aid I would have received through my continued attendance (To the tune of 2/3 the cost of my schooling) is now forfeited because of it. I was ineligible to enroll due to the debt (Which I wasn't informed of until the day of registration). To top it off, I've had to change my official email information because one of them logged on while I was away and messaged university faculty posing as me.
All in all, it's left me with no trust for my parents but nowhere else to stay since I've run the numbers and enter povertymode working full time at my job and trying to pay rent + pretty much any place with a credit check (read: virtually all of them) wouldn't accept me anyway now.
So I've got a question for biz.
I know there's two different types of credit.
Basically small purchases and large purchases, anyways.
What's stopping me from going to the bank, taking out some sort of loan (lets say 2,000) and then making the bank automatically withdraw from an account that set up that has (2,000 + whatever interest I owe). and pays it off in such a way that it would build alot of good credit for me???? Would this also be considered a small or big purchase?
I get what you mean. It's odd, but I guess it would work. You'd be hard pressed to constantly get small loans for "Reasons". It'd be easier to just use a card for things you already afford, like groceries and gas, and have it automatically pay off each month.