How can i fix my bad credit that i screwed up when i was younger?
when i was 18 and19 i was very immature and got 2 cards and used them and payed on them late and then not at all.. they have since been sent to collections also i wrote a 20 dollarcheck and it bounced (i closed the account before it went thru) and that has been sent to collections. since then i have gotten a car loan in which i have been on time for over a year …my credit score is 554 and i would like to repair my credit but am unsure on how to do it..i have heard that if u pay the collections places it dosent always go towards the debt….i am trying to repair my credit to do a rent to own home…i need all the help and info i can get!
1- Contact the credit card company - not the collection agency.
2- Explain that you think you may still have an account there and would like to clean it to avoid further troubles.
3- Ask how much is the capital and how much in interests. End your call and say you'll call back in an hour.
4- Call back and offer them to pay back 50% of the debt today, in cash, in any bank they want to. And that's your final offer, as other creditors want your money, you say. It's them or the others.
5- When at the bank (or just before transferring the money), ask them to send you a fax with the offer to clean your account for 50% of the amount. Tell them to prepare a debt acquittance.
6- Once received the fax, pay.
7- Ask the credit card company to send you a fax with a debt discharge (acquittance).
Job Done !
Why cut the bill in two (2) ?
They should have hired a collection agency to get paid. You save them time and money !
Good luck !
This website called CREDITBOARDS.COM helped me out immensely. It turn my life and my credit around.
It's a message board forum for repairing credit.
Go on there, and do a search on you specific problem.
I also think they have forms to send too creditors and dispute forms to send to credit bureaus.
It also have step by step instructions for someone new to fixing their credit.
It's helped me out a lot.
I manage to get….
-negative items remove from my credit reports.
-tips and tricks
-free or discount credit reports
-success stories
-sample letters to send for everything from lower interest rate to removing late fees
It's going to take time so don't give up.
GOOD LUCK!!!
References :
http://www.creditboards.com/
http://www.nolo.com/ (sells books on personal finance)
1- Contact the credit card company - not the collection agency.
2- Explain that you think you may still have an account there and would like to clean it to avoid further troubles.
3- Ask how much is the capital and how much in interests. End your call and say you'll call back in an hour.
4- Call back and offer them to pay back 50% of the debt today, in cash, in any bank they want to. And that's your final offer, as other creditors want your money, you say. It's them or the others.
5- When at the bank (or just before transferring the money), ask them to send you a fax with the offer to clean your account for 50% of the amount. Tell them to prepare a debt acquittance.
6- Once received the fax, pay.
7- Ask the credit card company to send you a fax with a debt discharge (acquittance).
Job Done !
Why cut the bill in two (2) ?
They should have hired a collection agency to get paid. You save them time and money !
Good luck !
References :
http://simple-credit-cards-and-loans.com
Bad credit is one of the worst problems to have… however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
References :