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First time here. At ground Zero, trying to rebuild my credit! HELP!

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Anonymous
Not applicable

First time here. At ground Zero, trying to rebuild my credit! HELP!

Hello everyone! I am a new member to FICO. I have next to no knowledge of rebuilding my credit. I need help from the bottom. I believe I have a lot of bills in collection and I need to find out where to start, what to pay, what to dispute, how to veiw all the collections so I have a list of bills to "try" and budget for.... I actually have endless questions. Help!!! Im 23 years young with 2 small boys. I want us to have a great future and I'm learning without credit its next to impossible to survive financially. Thanks to all who respond with their much needed and appreciated help in advance!! 

Message 1 of 12
11 REPLIES 11
ezdriver
Senior Contributor

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

Welcome to the forum. Coming here is a good first step.

 

First question that I have for you is this. Have you pulled your three FREE credit reports from annualcreditreport.com and reviewed them for accuracy? If not, then that should be your next step.

Message 2 of 12
Anonymous
Not applicable

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

Thank you!!! Im heading to that website right now to complete that! I'll let you know when I am done.

Message 3 of 12
Anonymous
Not applicable

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

So I did all three reports.... Although, there was trouble with processing the Trans-Union report due to technical issues on their end. But I have recieved the other 2.  Next step??

Message 4 of 12
RashShakur
New Contributor

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

I would comb through the reports and determine what accounts are reporting inaccurately and then dispute.

Message 5 of 12
yfan
Valued Contributor

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

What do your credit reports show? What are the longest delinquent accounts with the largest balances? If you can't pay it all off right away, contact your creditors one by one and make payment plans that you can afford. If there are accounts you do not recognize, dispute them with the credit bureaus.

 

Once you have made payment plans with your creditors, stick to them. Speaking from experience, I will tell you that it takes time to rebuild your credit. Don't get frustrated. Just keep plugging away. Keep making your payments, develop a budget, stick to it, and most importantly, put your kids first. Teach them financial responsibility as you are learning it yourself.

 

If you truly find that your debt is not manageable, do consider declaring bankruptcy. Yes, it will hurt your credit - but it's already in the toilet. Don't look at this option as some kind of moral defeat - in fact, stop looking at money as moral positive or negative entirely. Like everything else, bankruptcy is just a financial tool that may allow you to shed most of your debt and start fresh. Yes, it should be the last option, but it IS an option.

Message 6 of 12
Anonymous
Not applicable

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

Yeah I just went through them... I only recieved from Experian and Equifax but unfortunately everything is pretty accurate. But I will say I'm pleasantly suprised because I thought there was a ton more of debt that would have been there than there actually is! Its almost scary...lol 

Message 7 of 12
Anonymous
Not applicable

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

I see only 2 things so far that I was aware of that are alarming. First I have a Judement against me for $1,350. It was an apartment that I went half on with an ex... Never again. I'm wondering if there is a way to dispute half of what is owed? Being that I was responsible for half of it. Also the second thing is from the same situation but solely in my name due to him not being able to get the utility bill in his name... it is for $1,850. Can I dispute half of this as well?

Message 8 of 12
Anonymous
Not applicable

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

In addition, I have My first and only auto loan out of a total of 19 months (duration of my loan up to this point and I have 1 year left) I was late 6 of those months but I'm currently back on track as of the last 3 months. I have a couple medical bills in collections. One that is coming up to about 7 years old and a couple others for about $150-$350. 3 Hard inquiries and a couple few soft inquiries. 

Message 9 of 12
Rebuilding69
Established Contributor

Re: First time here. At ground Zero, trying to rebuild my credit! HELP!

Not to step on your post, but I keep trying to get my credit reports from annualcreditreport.com  & it keeps coming up with an Error message...it just says an error occurred please try again later heh. I've tried like 3x now at different times/days.

 

Edit: Ok, looks like all I had to do was complain on here because now it works lol




Message 10 of 12
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