I mean is it REALLY bad..or is there hope? Thanks!

Two years ago could of possibly gotten something, read the news in todays market there is no subprime even Alt-A is having problems and that is above 620-650 SO what do you think?

A credit score of 559, no doubt, is well below average - but if could begin to manage your credit responsibly, there would be a brighter hope in the very near future. With the score, you could still obtain a credit card or an auto loan, but it would come with a very high interest rate.

It takes time to build a good credit score (say two years) or, even more in some cases. You could realize it by paying your bills on time (avoiding late fees) and ensuring that your creditors report your accounts monthly to the three major credit bureaus.

Good luck!

Derrick

It's not real bad, but it's bad.

You can get approved for some loans, but they will be at very high interest rates.

With everything that's going on today in the sub-prime market (anything under 625) today, you need to work on it and bring it up by about 100-points.

Not so great. It's tough to get a loan with that.

To repair your credit, consider paying all of your bills on time for a year. Also, get a credit report and write letters refuting derogatory remarks and that will help. Excessive inquiries should be explained, such as loan hunting. Get your credit cards you owe down to 30% of your card limit. That alone will help your score a lot.