Head Exploding- Please Help

[Anonymous]

Hi,

I found this site last week and I have been reading alot of the threads and it has really encouraged me tofix my credit. I would really appreciate some help and advice.

When I was 18 I signed up for a bunch of credit cards when I was living with a bf to help pay the bills, I was also in college. The relationship got abusive, I left my job and let the cc's go. I didn't really understand the concept of credit as my family is from another country. When I realized my credit was screwed I just ignored the letters and the calls and went on with my life, hoping for some magic to happen.

Obviously, no magic happened and now I am here with awful credit and alot of headaches. I pulled all 3 credit reports and scores today. Experian-545, Equifax-529 and TU-562. I really really need to improve my credit. There are 12 negative accounts on my report. I have a paid-off car loan from Wells fargo (never late), and some student loans that are still being deferred because I am in grad school.

How do I go about fixing this?

1.  one of the charged-off accounts is one I was an Authorized user on,I never used it, is there anything I can do about getting this off??

2. One of the accts is health-related for $148. I never paid this because my insurance was meant to cover it. Can I dispute it?

3. Two of the accounts are related to cell-phones and Long distance. I don't think the amounts are right but most probably went up due to late fees?? Anything I can do?

4. The others are creditcards...some are joint accts....all are charged off....with LOTS of interest added. One had a balance of $300, and they say it is now $1200.

Should I send them PFD letters? I can't really afford much because I am still a student, though I am working this summer? Do you think any of these people will take payment plans? Also, I need to try and get my credit improved significantly by next year this time because I am applying to take the bar!!

If you think I should post the collection agencies, creditors and amounts please let me know. Thanks so much for your help!! I feel sick to my stomach when I realize what I have done to myself by being so stupid!

[llecs]

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Bella1980 wrote:

Hi,

How do I go about fixing this?

1.  one of the charged-off accounts is one I was an Authorized user on,I never used it, is there anything I can do about getting this off??

2. One of the accts is health-related for $148. I never paid this because my insurance was meant to cover it. Can I dispute it?

3. Two of the accounts are related to cell-phones and Long distance. I don't think the amounts are right but most probably went up due to late fees?? Anything I can do?

4. The others are creditcards...some are joint accts....all are charged off....with LOTS of interest added. One had a balance of $300, and they say it is now $1200.

Should I send them PFD letters? I can't really afford much because I am still a student, though I am working this summer? Do you think any of these people will take payment plans? Also, I need to try and get my credit improved significantly by next year this time because I am applying to take the bar!!

If you think I should post the collection agencies, creditors and amounts please let me know. Thanks so much for your help!! I feel sick to my stomach when I realize what I have done to myself by being so stupid!

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1) You can dispute as "not mine" if you were an AU.

2) Don't dispute the medical. Send the CA a DV and if they validate to your liking, offer a PFD. You can also try dealing with the OC and offer them a PFD.

3) If you agreed to the late fees in the contract there is nothing you can do. Offer them a PFD if the OC is reporting.

4) Again, if you are a joint user and you agreed to the terms, you may be stuck with the interest and late fees on top of that. Some states limit the interest rate on CO'd accounts. YMMV.

Read Credit Scoring 101.

Don't take any action unless you are prepared to pay 100% now. Contacting them within SOL will increase the odds of being sued. Start saving now. Some may be willing to settle.

Don't feel bad. I remember racking up $20k plus in CC and other debt by the time I was 21. It wasn't fun but with hard work, we paid it off within 3 yrs.