Needing credit advice please

[Anonymous]

Hello,

I am in the process of rebuilding my credit. Right now I have nothing on my credit reports except four collections totalling $3200.

Verizon  $1314

Sprint $1040

Regions Bank $518

Cap1 $470

 I am thinking about paying the full balance on all of them but I am wondering If I should settle, which is best? Reported on credit file 2013 collect;ions took over 2015.

I was approved for another Cap1 card with $49 deposit for $200 limit. I havent taken advantage of it as of now.

Any advice would be greatly appreciated.

Present credit scores are Exp 578 Eq 599 TU 611

[wa3more]

how old is each collection in terms of DOFD ? Also what state are you in ?

[Anonymous]

DOFD IS 7/2013 ON ALL OF THEM

IM IN ALBAMA

[wa3more]

Not sure what your goal is or if you are in urgent need of credit or loan approval.

From an underwriting standpoint, PIF always looks better than settled. You might be able to settle or do a PIF and negotiate pay for delete.Depends on creditor. Also you can try and use disputes to get off CR.

If you have the money, negotiate PFD  and see what the response is.

[Anonymous]

Well really I want to build credit now. I will be paying them off in the near future just wanting the course of action I should take to start building now. Not in need of any credit quick just want to build so I can get better offers of credit. Thank you

[wa3more]

i would try and get some of these items off CR via PFD. Try disputes to clean report up as well.

You could try opening a credit union account, they are more forgiving. You might have to go the secured card route.

I will let others with more experience on unsecured cards comment.  Better to clean up reports and credit now before you have need in futue.