Hi Tiffany, So my question is how do I increase my credit score now that my modification has been approved and the only thing on my Credit Report is that and my student loan. I pay the student loan on time but I'm not able to pay it off and I'm definitely not in position to pay off my mortgage.

Hey "New Modifier"!
One of the easiest and fastest ways to raise your credit score is with a credit card.
The trick is HOW you use your credit card. Here's The Budgetnista's Quickly Raise Your Score with a Credit Card Plan.
1) Get a new credit card. Use http://www.bankrate.com/ 's "compare credit card option", to help you choose the best credit card for you (low interest rate, great rewards etc.)
1a) If you're denied a credit card due to your credit history, go to your bank as ask to apply for a secured credit card. A secured card is a credit card that is issued at no risk to the creditor because you leave a deposit with them, and that deposit is your credit limit. If you can't get a regular card, it's a great way to build credit.
You also want to make sure that the bank that issues your card:
b) reports to the credit bureaus (this way you raise your score while using the card)
c) gives you an opportunity to earn a non-secured card (a regular credit card) with your bank, after paying on time for 3-6 months.
2) Automate the use of the card. Do this by placing a small automatic payment on the card each month (ie: magazine subscription, gym membership, phone bill). That bill should be the ONLY thing your secured card is used for. Then, sign-up for automatic, bill-pay at your bank (this is a free service), and instruct the bank to send the full payment of your bill, from your checking account to your secured card every month. This will create a payment loop effect that eliminates the flawed human element….you. I suggest you leave your secured card at home and allow the loop to work for you without interference.
3) Pay off your balance every month: Something magically happens when you pay a debt off in full each month. Your credit score does a happy-dance and jumps up. It doesn’t matter if the debt you paid off was $5000 or $5, same happy dance occurs. You can encourage your credit score to do a happy dance 12 times a year, by paying off your secured credit card in full every month.
You're credit score will be happy-dancing like crazy in no time! :)
Please keep me updated about your progress.
The Budgetnista

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