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| *Loan,banking and credit>>>credit repair |
Help repairing credit, what do I do now? |
I am 23-yrs. old and I am desperately trying to repair my credit. I have paid down all my collection accounts except for two medical bills totaling $1800.00. These two accounts are 4-years old. However, I have recently obtained an auto loan and a secured credit card as of April 2006. I pay both before the due date and I pay the complete balance on my secured credit card. My credit score has moved from 580 to 620. I also have student loan accounts that are in deferment. In all I have only 4 open accounts in good standing. What do I do now? I was wondering should I apply for a department store charge card to gain another open account or should I try to pay my medical bills in collections? I know that they have already harmed my score but I don't have the $1800.00. Would I be able to get a department store card w/ a 620 score. I would appreciate any help I can get. I am graduating from grad school soon and I'd like to have a more favorable score for large purchases. If it is in collections you don't owe the dept. They have been wrote off and the doc. was pd for it and then they was pd again when the collection agency brought the dept. Write a letter to the agency and tell them that is not your dept. You owe the Doc. not the collection agency. I worked collection for 4yrs and you don't owe them anything. Get it removed from your credit all together. Know the law. Contact the 3 credit agencies and get it removed from your credit. or call 1800.601.3401 Ask for Paula and tell her Alicia gave you the # and by all means DO NOT GET ANY MORE CREDIT CARDS. youll find some great tips on credit/debt on this site that will help you more free useful articles and tips on almost any topic- http://www.free-articles.blogspot.com... Dont try to go for those department store cards. The more you apply, the more you hurt yourself. Continue doing what you are doing. It will take time. You should monitor your credit. The only site I trust with my credit report is www.annualcreditreport.com You can choose one of three companies and it is absolutely free, secure, no strings. I heard it off some christian radio station or something. Instead of adding debt, I suggest you pay down your debt. You can negotiate payment terms on your medical bills and begin a payment plan. This will increase your credit score. I believe you need to pay the medical bills or any delinquent charges. If you can't pay the whole thing, call them and ask if you can discuss a payment plan. It's going to take time. Just building good history on other credit doesn't take away the bad marks. You have to pay that stuff off. Then after a few years you can get a lawer and have the information removed from your report. NEVER and I mean NEVER open new credit accounts to repair an already bad credit rating. You should focus on paying off all of your debts, including those that have already negatively effected your credit rating. Paying off those debts that have already been sent to collection won't negate the fact that you fell behind on payments, but it will dramatically improve your rating back to near where it was before getting behind. |
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