NEED ADVICE NOW!!!

[Tuscani]

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Cory wrote:

I couldn't seem to find the "Start a Topic" button so I'll just have to post here.

I would like some advice. I am in the process of repairing my credit back to normal, but I'm not sure where to start. I have an idea, so I think and I think my thinking is on the right track.

Anyway, my question is what would you guys do in this situation. Right now, I have nine thousand dollars in debt($9,000.00).

Right now, I'm making about $29,000.00 a year. And my debts are as follows.............

1. Four Thousand dollars (4,000.00) on one collection account that keeps reporting to the credit bureau.
2. Twenty Nine hundred ($2,900.00) which is a charge-off account. Should I pay this in full even though it's charge-off? I mean would it make any difference regarding my score?
3. Ninteen hundred dollars ($1,900.00) for a collection account that keeps reporting.
4. Four Hundred Fifty dollars ($450.00) to a collection account.
5. Three hundred Fifty dollars ($350.00) to an collection account.

And that's all of my negative debts. I am thinking about getting a personal loan from my CU for $23K to pay off these balances. $15K is for auto, and the rest will be to pay off collection accounts.

My intentions are to pay all of these accounts in full. Let me know what you think.

Thank you in advance for you help.

Cory Lee

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Cory - Welcome. There is a "New message" button on the upper left for starting new threads. Do not send anyone any money without doing a PFD. See this thread for more details:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2659

[Cory]

Susan babe, the first thing I would do in your situation since you mentioned that you have trouble remembering, is to set-up online bill payments.

But, before you do that, you have to sit down with the help of someone and find out how much money you make and how much you have to pay in necessities. That's bills, etc.

Once you have that established, set yourself for online bill pay. Take out only what you have left over after all of your important bills, such as tithe, rent and utilities.

Let all of your money for bills stay sitting in your account and use cash to make purchase. This will avoid the plastic, even your debit card can be addictive. But as Brammy said you want to avoid the plastic from every source.

Sometimes, I takes you to have the money in your hand to see that you just don't have enought to spend.

That's my advice hope it helps.

Cory Lee

[Cory]

Thanks for your reply. What is PDF?

Cory Lee

[Cory]

Oh thank you I found it. WOW!!!!!! That's a great! letter.

Your Truly,

Cory

[Tuscani]

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Cory wrote:

Thanks for your reply. What is PDF?

Cory Lee

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Check out www.adobe.com. Sorry, had to!

[Cory]

Well thank you, but what was that for? lol.......

Cory