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	what can be the reason for my credit score to be extremely bad?
Details : I am 21 years old and have around 3 years worth of credit. when i was 18 i purchased a car with the help of cosigner and repaid all the loans on time and on the same year cleared all the loans. In the mean time i tried to buy a cellphone but due to no credit i was not able to buy. After six months i bought another car with the help of cosigner. For that car also i paid all the repayments on time and clear of my loans within the specified date. But as that car was not solving my problem i sold it and paid off all the loan amount. In the same time i had two credit cards one when i was 18 which i paid off and closed due to high interest rate. Another one is with me from which i do the purchasing and payments everymonth. But the problem is that i got sick a year ago and i missed two weeks of my job and in the mean time my credit card electricity and medical bills were huge and i was not able to pay these bills on time. I had tried hard to balance all the things but my bad credit score is not getting better. I always need a cosigner to get things of my own. I am not able to take my own mobile phone or rent a apartment. BUt as the same time i have my friends with 55k of student loans and various credit cards but they still dont have any problem getting credit. Whats wrong which i am doing? how can i fix my problem and sort out my bad credit score? how can i build my credit score to a great level without any cosigner?
	0	In Bad Credit Student Loans - Asked by piyush1414

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what can be the reason for my credit score to be extremely bad? ?

	I think its all about the nubmer of times you applied for loans? How many times you have applied for credit? Each time you apply your scores drops. so you need some time to get your credit score good. Dont apply too much and also dont miss any single repayment. I am also 21 years old and i also purchased 2 cars with the same scenario. My credit score is also not good. But now i am not missing any single repayment and my credit score is getting good. Within some years it will be great. so don get too may cards and dont miss any repayment. Also in the present economic crisis may banks and institutions are not giving any loans to people with good credit. so dont apply here and there for getting credit. wait maybe for six months or a year and then try again. It takes around 2 years to get off your credit history. cheers

	you can go to some credit fixing consultants and take advise from them as how to make your credit score better and get easy money.

	These days debts are common among all due to various pressures as family and work. If you have bad credit then you need to make your payments on time and without missing any to have good credit score. there can be number of reasons for your bad credit score you need to get them cleared.

	Get your copy of credit score. But I also subscribe to equifax also. Factors affecting your credit score are: More than three searches in a six month period Not being on the electoral role for more than three years Even with a good payment record a high balance outstanding... i.e. that you are near the maximum of credit limits Having CCJs defaults or bankruptcies If you have any of these adverse things on your credit report which will remain on your record for 6 years. You can still log onto your report and log a file notice of correction which will explain your circumstances above. It will mean when applying for credit it wont go through automated response the creditors will read your notes. I would strongly advise not going to someone and paying them for theior services to clean up your record they can do no more than what you can. Despite their promises. I had a bad relationship with 30k debt which was all adverse as the boyfriend took things out in my name. It took me a while but now my credit has never been better and I did this all myself with writing to the creditors asking them to remove things from my file. And entering file notice of corrections and getting searches that I hadnt authorised removed etc. Good Luck there is hope

	Dont believe on scammers one who say that they will fix your credit score are scam. you can get your credit score cleared by yourself. You get your credit score report from https://www.annualcreditreport.com/. Get the print out and find the discrepancies which you need to clear out. see what these reports are saying and these reports are right or not? If you need my help i can help you. If your report is clean and people say that you have bad credit then make clear that there is no debt. All a credit score is .... is an I love Debt Score. From MyFico.com .... here are the Minimum Requirements for a FICO score: A credit report must contain these minimum requirements: At least one account that has been open for six months or more. At least one undisputed account that has been reported to the credit bureau with in the past six months. No indication of deceased on the credit report. Here is what is in your Credit Score Payment History 35 of your score Account payment information on specific types of accounts credit cards retail accounts installment loans finance company accounts mortgage etc. Presence of adverse public records bankruptcy judgements suits liens wage attachments etc. collection items and/or delinquency past due items Severity of delinquency how long past due Amount past due on delinquent accounts or collection items Time since recency of past due items delinquency adverse public records if any or collection items if any Number of past due items on file Number of accounts paid as agreed Amounts Owed 30 of your score Amount owing on accounts Amount owing on specific types of accounts Lack of a specific type of balance in some cases Number of accounts with balances Proportion of credit lines used proportion of balances to total credit limits on certain types of revolving accounts Proportion of installment loan amounts still owing proportion of balance to original loan amount on certain types of installment loans Length of Credit History 15 of your score Time since accounts opened Time since accounts opened by specific type of account Time since account activity New Credit 10 of your score Number of recently opened accounts and proportion of accounts that are recently opened by type of account Number of recent credit inquiries Time since recent account openings by type of account Time since credit inquirys Reestablishment of positive credit history following past payment problems Types of Credit Used 10 of your score Number of presence prevalence and recent information on various types of accounts credit cards retail accounts installment loans mortgage consumer finance accounts etc.

	you need to review your credit report for accuracy. there can be chances that due to too many loans or application in short period is hurting you.