I have 4000 dollarsw to invest in building my credit I was thinking of getting 4 secured ccs 1000 each please give me some suggestions my credit score is 405 i have 6 baddies on there and i just started paying 2 back. Tell me how you would invest 4 grand if u were in the same situation.
Starting Score: 459
@Anonymous wrote:For what its worth, I might consider paying off any CAs with PFDs, chalk things up to experience and wait out the time. Otherwise, even if you're like me where you a fighting a CA who has a bogus debt, you don't have to worry YEARS down the road. My issue right now is that a collection that I had an issue with and have been fighting (successful so far, thanks to DVs and God) is up for SOL deadline next month. But I'm in a catch 22: If they file suit and I pay before trial, then that will reset the CRA reporting clock, meaning what should have been a 7 year process would become 14 years because of the payment. But had I caved in and just paid, I'd be free and clear to continue building positive credit now. But alas, I will have to watch the mail for the next month or so...
Paying a bill off will not reset the reporting time on your CR. If the bill you have is scheduled to come at a particular time and it has reached the 7-71/2 year mark it will come off your report. The DOFD cannot be changed. Its a violation if that happens. I am sure a more experienced person will come along and explain it better!
