My credit score has dropped significantly due to credit cards that are a. charged off, b. past due. I had lost hours at my job and I was unable to pay minimum balance and now I am paying for them. They have been past due since about 2008 and got charged off sometime last yr. I see that they are no longer negatively effecting my credit since my score has gone back up but my credit card debt equals to about 00. What can I do to repair my credit? I want to do whatever it is I can do, I know the collection accounts are most likely going to be negatively effecting my credit! Could paying off these debts help it?
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Thu, Jul 8, 2010
July 8th, 2010 at 6:25 pm
Every year you are entitled to one free copy of your credit report from each of the major bureaus. You should order your free report from http://www.annualcreditreport.com and check for inaccuracies.
Dispute the inaccuracies directly with the credit bureau, and according to the Fair Credit Reporting Act they have to verify the item. If the reporting company doesn’t respond in 30 days, or sufficiently prove the item should be there, it will be removed, which should raise your credit score.
If the item comes back verified, you’ll have a chance to contact the reporting party and try to negotiate a settlement or payment. Look into requesting a "Pay For Delete" where you’ll settle for a percentage of the debt, or pay the whole debt and they’ll remove the listing from your credit report.
And remember, everything a credit repair agency or lawyer can do to repair your credit, you can do yourself. Find a good credit repair guide, and get to work!
July 8th, 2010 at 6:25 pm
Charge offs are a big "negative" on your credit report, and normally take years to fall off. Paying the debts is the right thing to do, but the negative impact of having a collection account and/or charge off is still there.
do this:
1) get a copy of your credit reprort and score
2) make sure its accurate – anything that is wrong or does not belong to you should be disputed
3) You can dispute items your self with the bureaus, and with the creditors – you probably need to do both
4) If you have seriously questionable items, you will need a credit repair attorney to help you – see the directory below to find one near you.
good Luck!
July 8th, 2010 at 6:25 pm
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – buildcredit.ifastnet.com
July 8th, 2010 at 6:25 pm
pay on time every time
pay off debt
it’s not going to get fixed overnight
July 23rd, 2010 at 12:25 pm
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