My husband has TERRIBLE CREDIT loans,bills,etc... and is an ex-felon how can he get credit?

does he have to apply for a credit card,loan,what????

yes, in order to re-establish credit he has to find someone that will lend to him. It may not be easy and you will have to pay very high interest and he will most likely need a co-signer. Something secured may be easier then a credit card or unsecured loan. once he is approved he needs to stay on top of his debt and keep it to a minimum for his credit score to increase. It will be a very slow process as well. Good luck with it!

My husband had no credit when we met. What we did was he got a loan with me as a cosginer. Just a small loan. Pay it back and we did it like twice. Then when he went to buy his truck, my dad signed with him and now we have 8 years later, we have a mortgage, three vehicle payments...and on and on...lol. Good luck, it will all work out! :)

You've already gotten some good advice here on starting with secured credit cards. That is how I got my credit rating back after declaring bankruptcy. My only other comment on that is that the company will generally give you your deposit back for those accounts after a couple of years. However, the account will always have a higher interest rate that a regular card, so you are better of switching to a regular credit card once a company will approve you for one.

My only other comment would be to take it slow and make sure that you now establish a spotless payment history.

I don't think the felon aspect will work against him as far as credit goes. However he has to be more repsonsible with his credit and his spending/credit habits. The first step is to carefully go over the credit reports and see what is working against him as well as look for errors. You can read alot about credit at http://finance-girl.blogspot.com

http://www.freecreditreport.com/pm/default.aspx?sc=658900&bcd=FPFRI915scores

pay his debts and start where all of us with good credit did, at the bottom of the ladder.

Any credit with a strong cosigner, starting with small loans (secured credit cards, secured bank loans, etc.)

Credit is best repaired by doing the same things you do to build it in the first place:

(1) Scrimp and save if you need to, to get a secured credit card (secured by money held in the bank). These are very easy to get through your regular bank. The limit will probably be only $250 or $500, the point is to start small and build up.

(2) Buy some stuff on the CC one month, and pay half of it off. Then pay the other half the next month. Then put another purchase on, pay it off in halves, etc. This does two things, it makes money for the CC company (which is all they really care about at the end of the day), and it established your ability to live within your means and pay back your debts. DO NOT miss or be late on any payments, make sure you pay the bills the day you get them (so basically, when you buy the thing on the credit card, set the cash aside for it immediately).

(3) After a year or so with the secured card, you will get offers for regular cards. Fill these out and send them in ONE AT A TIME, waiting for each one to be rejected (if it is rejected) before sending in the next one. DO NOT do them all at once nor try to get a second one approved after the first one is -- the computers will flag this as you trying to take out too much credit all at once. If you DON'T get any offers for non-secured cards, talk to your bank (which issued the secured card) and try to get them to upgrade your card -- they usually will to keep a happy customer.

(4) When the regular card gets approved, use it and pay it off just as you did with the secured card. You can get rid of the secured card once you have the regular card.

(5) As you get more established, put more and more on the cards each month but MAKE SURE YOU HAVE THE CASH TO PAY IT ALL OFF IMMEDIATELY. It is OK to let some balance ride from month to month (the CC company likes to see this in fact) as long as you always make more than the minimum payments, at least 3x more is good. Again, you are showing them that you can pay your debts and live within your means (= makes money for them and no bankruptcy likely).

BTW, don't do bankruptcy if you can avoid it at all -- my sister in law did that and it took her 10 more years to rebuild her credit. Lenders HATE seeing that you stiffed a previous lender. My approach works wonders in about 3-5 years.

And why did you marry this guy?

Bad credit, bad decisions, bad everything.

What a slong.....hey

You are in for a very rough life, enjoy what you can....

Maybe bankruptcy would be a good idea, consult an attorney.

Further, once bankruptcy is completed, if you go that way, he can get a car loan, though the interest will be high. If he buys at a buy here pay here lot, make sure the report to the credit bureau on your behalf.

Once he pays of this loan, things will begin to look a little brighter. Getting, cable, electric, water, gas, phone, in his name will help too.

The fact he is an ex-felon does not effect his credit. It can effect his ability to get a good paying job.

I hope it all works out

Good Luck and Take Care

sounds like he should be able to steal one........

he doesn't deserve it

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