A low credit score of 555 makes it next to impossible to secure a decent interest rate on any kind of debt. On top of that, with delinquent accounts you have some extra work to do to get all your ducks in order. Consider enlisting the help of a counselor that’s part of the National Foundation for Credit Counseling. Visit their website at www.nfcc.org to find one near you. When it comes to your credit score, paying on time, every time, is the biggest thing you can do to get things headed in the right direction.
Check out the education center at www.myfico.com to learn what determines your score. We think getting help mapping out a solid budget that you can live by and a plan to eliminate your debt may require the help of a third party. It’ll take a while to make yourself an attractive candidate for lenders’ consideration, but hang in there. Good luck.