I have just recently looked at my credit report and realized how bad it looks. I need help fixing it. I just contacted one collection agency and they told me that it had been sent to an attorney. I then contacted the attorney and they told me too bad if i don’t pay it all off in full which is almost 0 they will take me to court. to me this is not fair, I don’t make very much money and told them i could pay like 0 a month, then they proceeded to tell me i am not good for it. I admit I made some bad choices when I was younger but it is nothing major. Just some bills i didn’t want to pay. Now i am wondering
1- How can I fix my credit without being broke all the time?
2- How can I get them to work with me on payments?
3- Is there any free way to just bundle all of my bad payments into one and just pay on that?
SOMEONE PLEASE HELP ME
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Sun, Aug 29, 2010
August 29th, 2010 at 4:13 pm
First, make sure all the information on your credit report is accurate.
Second, try to pay off all or any accounts that are currently in collections or make payment arrangements with the creditor to pay off the balance monthly.
Third, any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.
Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.
Repairing your credit and improving your credit score is a slow process that takes time. Just be patient and follow these steps and you should be on the road to better credit.
August 29th, 2010 at 4:13 pm
Wow! Now you want to pay these bills. Unfortunately, once the account is sent off to an attorney, your options are limited. If you had responded to the creditors (or collection agencies), they might have been able to work out payment plans for you.
If you still have accounts that have not been referred to an attorney, call the creditor(s) or collector(s) & ask them to please work with you before it goes to an attorney. Explain to them that you realize you made bad choices in the past & you want to make the account(s) good.
For the one(s) being handled by an attorney, you’re probably going to have to find a way to make good on the money. The attorney is under *no* obligation to work with you on this – they’re being paid by the creditor(s) or collector(s) regardless.
You are going to have to make a budget & stick to it. Cut your negotiable expenses as much as possible. Instead of going out to dinner with friends, why don’t you have a potluck dinner at your place?
I’m sure this is not the answer you’re looking for but I’m afraid it’s just the way it is.
August 29th, 2010 at 4:13 pm
Try to work with the creditors directly. Let them know you intend to pay them, have a little bit of patience, and they’ll work with you.
You can work out a settlement, usually 50 to 70 cents on the dollar. Just make sure to get the agreement from them in writing BEFORE you send them any money. Only pay by money order or cashiers check and send it certified mail. Do NOT give them post-dated checks or authorize electronic payments. They can (and likely will) clean out your account.
If you wanted to "bundle your payments" through a debt counseling service, remember that this is just putting a band-aid on the problem. Down the line, this service will reflect poorly on your credit report….even though they may claim otherwise.
Keep focused on your goal and you will get out of debt!
August 29th, 2010 at 4:13 pm
I am sorry to hear you are going through this.
First of all, just because it is in an attorney’s hands, this does not mean they are going to sue you. Second, even if they sue you, most of the time these debt collectors are expecting you not to fight it, and not to show up in court. You cannot make their lives easy by just laying down to pay the debt, without learning your rights, and also learning what you can expect in the legal system. All of these answers, you can learn for yourself. And you can do this yourself, you just really need to understand the game. DO NOT HIRE SOME LAW FIRM TO HELP YOU. You can do this yourself, and not pay a fortune to do it.
Go to http://www.creditboards.com/forums and peek around. Read some of the success stories of those who have done this themselves. I HAVE. I am LIVING PROOF that you do not have to be a prisoner to your past mistakes. In one year, my FICO has gone from 480 to 670. If I can do it, so can you. GL!
August 29th, 2010 at 4:13 pm
You can fix or repair your credit at http://www.creditbud.com
You can also apply for various loans and get approved in seconds if you have bad credit.
September 3rd, 2010 at 6:48 pm
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