I fell behind on my credit cards when I had an emergency medical expense. Even though I have a steady job and income, they’ve raised the payments and dropped the limits so there’s no chance I’ll catch up. I want to do debt consolidation but most companies Google brings me are a scam. I know it ruins your credit, but 8 90+ past due accounts does that too. I’ve been unable to work out plans with them or find a second job. What is a reputable company?
Sep 162010
i am just wondering if anyone can help me out here. my credit is pretty bad. i do not owe a single penny to credit cards all my debt is bills that i didn’t pay when i was young and dumb, and didn’t know the importance of credit. now that i’m 25 i realize how stupid i was. i’ve got verizon cell phone bills, money owed to a bank, a book club account, an old electric bill and an old house phone bill. all of these accounts have been listed with collection agencies. This year, when i got my tax return, i paid off a few of the other accounts that i had and my credit score went up 14 points (not a lot, i know, but it was a pretty big deal for me). my question is: if i pay off the remaining accounts with next years return, will it help my chances of getting better credit? my balances will all be $0.00, but the dates of these accounts are all under 7 years. will the fact that i no longer have a balance due help me? or are al those dates still going to ruin my chances until my 7 years is up?
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also, it says on my report that what is hurting my score is no major credit cards… but i can’t get approved to have one because of the limited credit history with cards and the past due accounts…. any advice on getting one? i’ve looked into the secured cards, but #1 i can’t come up with the $300 to start, and #2 i just can’t see paying that much to have a card. it also says the number of delinquent accounts is hurting me (back to origianl question) are they still going to be considered deliquent if i pay the balances off?
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So I sent out several GW letters after reading all the great advice from posts on the community. Yesterday I sent out two GW emails to First Premier, the account was CO in 08 and paid in full. I asked to GW the past due from all three of the credit files from paying in full even when offered a settlement and even asked them to reopen the account. I am hopping they do it will greatly help my credit it is my only major derog. I have two other past due accounts from oct of 08 (30 days late) one response has already told me no (CITI). Waiting on Americredit. Please keep your fingers crossed for me with First Premier it is the biggie! Hopefully they see it as a way to make some money! I will update when I hear a reponse other than the generic email stating it will be read in the order it was recieved….