Unsure of a good plan of action

[jlatimer11]

I've got some collection accounts that I'm not sure how to handle.

I'm trying to work towards repairing my credit, but I continue to see a lot of conflicting information on how to. Some sites say that you shouldn't bother with a PIF and settle because the effect on your score is generally the same.

I currently have 8 collection accounts with a total debt of $3000-ish. I have one open account, a car loan. Everything else is on its second or third (or more) CA. I'm not being harassed, so this isn't really to get anyone off my back.

I made the mistakes with these accounts and want to make good on them, but I can't find out the right way to do it to leave me in a better position going forward. I can't pay everything off at once, but I can pay it all back. But other than ethically, is it worth it at this point?

Any advice?

[mauve]

First, you're going to want to repair before rebuilding.

Second, you should make sure you have current, complete reports - if you haven't already, pull them at annualcreditreport.com.  Print the full reports or turn them into pdfs (from the printable version) so you have them on hand.

Then evaluate each negative trade item.  If you want advice on any specific item, post it here with personal info removed (account numbers, names). 

The ones with the most recent activity are affecting your score the most.  You need to know the SoL (statute of limitations) in your state.  If an item is with a CA, you can DV them (send them a debt validation letter) IF you have enough money to pay in full (and if it's medical, consider googling the HIPAA letter process, which cannot be found here, but you shouldn't have contact with a CA if you want to use that method).  DVing a CA can inspire them to sue you for the debt, which is why you want to be able to PIF if you DV them.  The purpose is to establish that the debt is yours, but also that the CA is legitimately collecting on the debt. 

Another option is that you can contact the OC on debt and see if they will take payment for it - you can offer to pay them contingent on them recalling the debt from the CA.  This is much more likely if both the OC and the CA are reporting a balance.