How do I even begin to clean up my report.. it seems very daunting

[ghawdex]

Hello everyone,

I'm in my late 20's and at one point in my life I had a prestigious credit report and score. Unfortunately that all went down hill, when my life took a turn, from losing my job, break up with girlfriend of 11 years, death in the family and list goes on, I ended up breaking down.

Since then, I have rebounded and got mostly everything in my life back on track, except for one thing.. my credit!

I might have saved the best for last 

Anyways, here is what I'm currently looking at.

Scores are pulled from MyFico

**Equifax** 536

**TU** 540

**Experian** 556

**Negative accounts** 10

One of the accounts is listed twice (School loan, which has been paid off and show as closed)

Another loan, I was 90 days late but I have been paying the original lender but it shows charge off on my report.

**Late 30-60 days**

* Chase - $13,000

* Discover - $9,000

**Late 120 days**

Citi - $913

Charged off

* Chase - $2,570

* TD - $11,000

* Chase - $5,000

**Collections**

Portofolio Recovery - $7,400

I assume the charged off accounts will eventually show on my report as collections sooner or later. Although they had been charged off about a year ago but don't show as collections yet.

In this case, what are my options, what should I be doing.

The Citi bank, I can't log in as my account got locked and I'm currently abroad (family death) and will be back next week.

From what I have read, with the collections, I can try to do a PFD?

What about the duplicate school loan account that was paid off?

What can I do with the accounts that have been "Charged off" but not in collections yet? (This is confusing to me) I get collection letters for my accounts, but on my report they don't show as collections and only as charged offs, whats the difference?

The other loan, that said charged off but still currently paying the original lender, anything I can do about that with them?

My current accounts that I still have with late payments (but are current now for the past 4 months) how should I go about this?

I am working now and make ok income but pay for rent, food, and internet. No car payments.

I already know I screwed up quite bad, but just looking for advice to get myself in a better direction.

Anything would be great!

[Anonymous]

Are you in a position to pay off $41K of debt? If not, you may want to take a serious look at filing BK7 & making a fresh start. You would probably be able to rebound faster doing that, rather than paying and paying but not getting out of the hole you're in if interest is eating up most of your payments. I would consult a few BK attorneys (most will have an initial free consultation) and discuss your situation.

Second, if you do not currently use a budget.... start one! I could not get a grip on my finances until I put down EVERY expense that was coming out of my paycheck. Once I could see where my money was going I was able to control it. I have a budget template that I would be happy to share with you if interested. Just send me a PM with your email.

[Anonymous]

I was in a similar situation to you, what I've done so far:

-I started saving half of every paycheck until I had $10,000 saved.

-Then I negotiated with collections agencies that were responsible for my charge offs settlements for about 25%. They're probably sending you letters with settlement offers. Open the letters and see what they say.

-Paid them. 

Agree with other poster that bankruptcy sounds like an option too.