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just starting out need help


lawdogk
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i just got my credit report.....omg. now what do i do? i have 3 charge offs and i repossion. only one of the 4 have attempted to get money through a CA. whats the best way to get my credit back on track?

i owe like 3000 to one,4000 to another,4000 to another and the repossion is 6500. About 20 grand all together. what can i do? i want my good credit back. all the debts are almost a year old.

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I found myself in almost the exact same situation.

There are several things you can do to get your credit score up.

First thing, these items won't drop off your credit report until after seven years of the first initial missed payment. So, it might benefit you to contact the creditors and attempt to 'settle' these debts and negotiate to have them removed from your credit report. Be sure to get everything in writing, this will help you to prove anything.

Second, try and get yourself a secured visa/mc or a catalog company card. Those are easier to get when your credit is lousy. Pay your bill on time and you'll have a good trade line on your report.

Hope this helps and if I forgot anything, I'm sure someone else will give their input.

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  • 1 month later...

For anything that is handled by a collection account, I would suggest that you surf through the Debt Validation forum. It is loaded with plenty of threads and posts of people who have gotten collection accounts off of their credit report.

Odds are that a collection agency cannot prove that a debt does belong to you.

And for any settlements, if you want to get your good credit back, then settlements are worthless if you cannot get the creditor to remove the entire trade line from your credit report. They will complain that they cannot do that but when it comes to money, you need to talk to the right person of your creditor about getting those tradelines removed.

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