Trying to be an adult but my credit is shot

[Anonymous]

Ok so just got married literally last Saturday. We both want to by a house have money and what not. The problem is my credit is horrible. Mid 400, I have about 3000 in things I didn't pay from when I was like 20-22 I am 26 now. Will paying it all off help me in anyway or will the bad marks just always be there. Also I just got a late payment on my car payment because I was late paying it this money using the money to pay into the wedding but that my own fault. So what I really want to know is what I said earlier. Will paying the 3000 between the 6 bills in collections jump my score at all or am i putting off the thought of a house for a few years

[Anonymous]

Welcome...
You are in the right place!
Obviously, you have a big hole to climb out of.
The good news is:
You are young and have a goal ( home ownership).
I would read ...read...read...all the info you need is here..and you need a lot of info.
Start by paying the existing bills and read all of these boards like crazy. It will take time to correct your errors.
Go to the Bankruptcy threads as well.
Good luck
Plus we well help you but will need more info...

[Anonymous]

My biggest thing is if I have the money to pay off everything I have in collections will that out me in a better place? Or will it not benefit my score at all

[Anonymous]

Unfortunately, the real smart people are in bed at this hour.
Have you read the rebuilding threads
Just write your questions in the box and start reading.
You have a long way to go....
Rule 1...patience
Rule 2...never miss a payment...
Then things can get complicated
This is all the advice that I am sure of.
Help is on its way!

[Anonymous]

You incurred a late payment so that you could pay for a wedding? 

[Anonymous]

Like I said my own fault with the car payment it was $500 I wanted to hold onto due to cutting it close on the wedding

[Anonymous]

No it wont help you unless you can get the creditors to remove the negative entries from your reports. It may look better to future lenders seeing a paid collection rather than an unpaid one, but thats about it. It wont help your scores With scores in the 400s, getting any credit will be hard. Intentionally allowing a late is just.....sigh. If you were that crunched for money, maybe it wasnt the best time for getting married. What is done is done however.

[SouthJamaica]

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@Anonymous wrote:
Ok so just got married literally last Saturday. We both want to by a house have money and what not. The problem is my credit is horrible. Mid 400, I have about 3000 in things I didn't pay from when I was like 20-22 I am 26 now. Will paying it all off help me in anyway or will the bad marks just always be there. Also I just got a late payment on my car payment because I was late paying it this money using the money to pay into the wedding but that my own fault. So what I really want to know is what I said earlier. Will paying the 3000 between the 6 bills in collections jump my score at all or am i putting off the thought of a house for a few years

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The bad marks will not always be there.

Some will age off, some can be gotten rid of.

Study the rebuilding thread, where there are lots of ideas.

You might want to hire an agency that specializes in getting rid of derogatories.

[Anonymous]

To be honest, you are probably a good number of years away from being able to get a mortgage at all, much less with a favorable interest rate.  As others have stated, start reading the rebuilding forum and seeing what the best steps are.  You can probably pay for delete on some of those collections, maybe all of them with time and persistence.  Whatever you do though, NEVER pay late.  Do you have a bunch of late payments on your current accounts like the car loan you were just late on?

[Anonymous]

I have to disagree with some. It's going to be hard work but it can be done. I had a ton of stupid collections when I started rebuilding and in one year I was able to purchase my dream home. It just took a lot of hard persistent work. You have to start with one collection at a time. Pull your credit report and get on that phone and negotiate to PFD. Make sure you have the money to pay each time you call a creditor because if you can tell them you can pay immediately you might get good results. I started with the original creditor and didn't waste time with the collection agencies until I got that.... We can't accept payments anymore because you account is no longer in our system. I'm not saying your situation is like mines but I no I wrote letters, made arrangements, called creditors and now the only baddie I have is a paid charge off from First Premier and 3 late payments on my student loan that are a little over 2 years old. It will get frustrating but read the forums and different websites on how to handle debt collection. Good luck to you and congratulations on your marriage. Hopefully you get to a place where you can say WHEW! My credit is back on track!!!!!