Help with current situation

Anonymous — Sat, 28 Jun 2014 04:00:43 GMT

I'm new to credit and finances but I am trying to plan my immediate future. Please help if you can. Thanks

I am 6 months from finishing graduate school and starting a career. I have no undergrad debt. I will have approx 150K graduate school debt. My wife has no debt. I have never checked my credit score and neither has my wife until recently. We both checked our credit reports for the first time recently. Hers has nothing great on it, 6 years of credit card usage with no debt. Mine has the same but also graduate school debt and a collections of $550. It is only 2 years along, being reported monthly. I can try to do a PFD for 50% and get this off all 3 credit agencies or leave it for 7.5 years. I'm 2 years in.

What whould you suggest, pay or wait? I despise the OC, being screwed for their mistakes is not fun.

I'm trying to prepare for after school, income and loans. Is a $550 collections going to stop me from getting a home loan?

Do you suggest checking my credit score in addition to my credit report? I know this collection is pulling me down each month, but I don't know how much.

Re: Help with current situation

Shogun — Sun, 29 Jun 2014 07:09:41 GMT

I would try for the PFD now on it, I wouldn't want it to sit there and deal with it another 5 years. It is holding your scores down pretty good and will for another 5 years or so.

What do you have in the way of positive accounts? Do you have any credit cards?

topic Help with current situation in Rebuilding Your Credit

Help with current situation

Re: Help with current situation