I have 7 credit items on my report, and 0 are in good standing. I want to start the journey on repairing my credit! These mistakes were made when I was very young, and I am now in a position where I can finally start to work on it, a little bit at a time. I just don't know how to get started! Here is the scenario:
1.) Voluntarily Surrendered vehicle - $5,642, scheduled to continue on until July 2014. All I know is it was sold at an auction for more than what I owe (if that even matters). I don't know how or where to begin to work on this, if it's even possible.
2.) Credit Card - $470, transferred, closed, written off. The original line of credit was $200, it was purchased by another lender. I spoke with this credit card company and asked if there was anything I could do with them, specifically, and they told me there was nothing they could do, and that I had to deal with the other lender that purchased it, and gave me the other lender's contact info.
3.) Collection Agency - $188, originally with an old bank account that got over drafted, and being young and flighty, never paid it. Scheduled to continue until January 2014. Should I pay the bank or the collection agency? How will it show up on my credit report, and affect my credit score?
4.) Collection Agency - $986, this is the agency that purchased my debt from the Credit Card company. It's $471 plus $515 in interest! Scheduled to continue until May 2014. They called me YESTERDAY and offered to settle for a very, very low amount. I've read that settling is bad, but paying in full won't make a difference. Kind of a catch 22 I guess.
5.) Student Loans - $2,625. Status: Claim filed with the government, sold to another "student loan collection agency." Scheduled to continue until March 2018.
6.) Student Loan Collection Agency - Current balance $3818. It is currently in default status, but I started a rehabilitation program with them, and just completed it! So they will take the default status OFF of my credit within a few months, and show me as current! Woo hoo! 
7.) Local collection agency: $63, unpaid medical bill. Scheduled to continue until November 2013.
So, there you have it. These are my issues, and I don't know where and how to begin repairing everything! I keep reading different things like: let them drop off, settle, pay in full, pay for deletion, etc. I just don’t know which route to take!
Any advice would be absolutely wonderful and GREATLY appreciated!
Thank you for your time in reading this!
@jackquelin3 wrote:I have 7 credit items on my report, and 0 are in good standing. I want to start the journey on repairing my credit! These mistakes were made when I was very young, and I am now in a position where I can finally start to work on it, a little bit at a time. I just don't know how to get started! Here is the scenario:
1.) Voluntarily Surrendered vehicle - $5,642, scheduled to continue on until July 2014. All I know is it was sold at an auction for more than what I owe (if that even matters). I don't know how or where to begin to work on this, if it's even possible.
2.) Credit Card - $470, transferred, closed, written off. The original line of credit was $200, it was purchased by another lender. I spoke with this credit card company and asked if there was anything I could do with them, specifically, and they told me there was nothing they could do, and that I had to deal with the other lender that purchased it, and gave me the other lender's contact info. offer PFD
3.) Collection Agency - $188, originally with an old bank account that got over drafted, and being young and flighty, never paid it. Scheduled to continue until January 2014. Should I pay the bank or the collection agency? How will it show up on my credit report, and affect my credit score? While it is affecting your score January 2014 is so close I would wait for it to fall off JMO tho
4.) Collection Agency - $986, this is the agency that purchased my debt from the Credit Card company. It's $471 plus $515 in interest! Scheduled to continue until May 2014. They called me YESTERDAY and offered to settle for a very, very low amount. I've read that settling is bad, but paying in full won't make a difference. Kind of a catch 22 I guess. PFD
5.) Student Loans - $2,625. Status: Claim filed with the government, sold to another "student loan collection agency." Scheduled to continue until March 2018.
Post in student loan forum for best results
6.) Student Loan Collection Agency - Current balance $3818. It is currently in default status, but I started a rehabilitation program with them, and just completed it! So they will take the default status OFF of my credit within a few months, and show me as current! Woo hoo!
7.) Local collection agency: $63, unpaid medical bill. Scheduled to continue until November 2013. 2 months away let it fall off
So, there you have it. These are my issues, and I don't know where and how to begin repairing everything! I keep reading different things like: let them drop off, settle, pay in full, pay for deletion, etc. I just don’t know which route to take!
Any advice would be absolutely wonderful and GREATLY appreciated!
Thank you for your time in reading this!
Welcome to the forum
While working on those get the secured cards keep payments current, UTL low and this will help to start the process of rebuilding.
No new apps for any cards or credit products for the next 8-12 months
Good luck and best wishes