Help with DH's CR

[Anonymous]

Okay, I talked my DH into getting his credit report. 

He has a 6 yr history

13 accounts

9 of those accounts are charge-offs

1 is bad/debt collection

3 are "okay/paid as agreed"

1 public record (a tax lien)

I very seriously doubt that we can PFD most of these due to the high amounts of the debt (1,000 to 2500).

What other things could I do to help his credit and score??  Apply for new credit and make timely payments?  He only has one thing that is active and that's a car loan.

[Anonymous]

Not to make light of a serious credit situation, but I see why he didn't want to see his credit report.

Reporting 13 accts. and 10 of them are baddies. It is good he has 3 accts. in good standing.

Can he(you) start working on the charge offs/collections? Like tackle the lowest amounts first with PFD's? Or at least a compromise in kind?(offer to pay for less than what he owes).

IMO, a cc with a spotless pay history, and low util, would definitely help. But it won't have a very hi cl. Just my thoughts.

I know others will chime in today, and offer their suggestions.

It's good you talked him into pulling his score. Now he(you) knows at least where he stands.

Good luck to you

[Ljeen]

Same thing with my husband.  He had great credit when we got married but then I got displaced while in the middle of getting married and the invites already went out so alot of his cards were used and it got so bad he ended up defaulting and the rest is history.  He has paid off one account but the others are getting bigger and bigger with the interest and they have been charged off.  The CA will not work with him.  They have offered a settlement amount but they want the whole thing upfront instead of letting him pay it off in time.  He cannot do debt solutions because they don't deal with accounts that have been sent to a collection agency.

Now when I apply for a mortgage next summer he cannot be on it and I will be using my income so now I have to settle for less house, so what, the payments will be lower for it.  I have no choice but to buy because I cannot live where I am another day and renting is more difficult when you try to leave your husband off the lease (they are real ball buster landlords) also, no one wants dogs.