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JayH2189

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How can I rebuild my credit and up my score when I have 2 accounts in collection?

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First off, you are going to have to pay off those accounts because they hurt your credit score and will until they are paid.

Make all credit account payments on time and of the correct amount.  Try to pay more than the minimum payment unless you want to keep paying the account for the next 30 years.  Try to pay off the accounts in full when the statement comes in, but, if the statement shows (like) $50 and you know you know you charged mokre, just pay the $50.  The others will show the following month and you won't be charged interest. 

Try to keep your credit card usage below 20%, which means charge no more than 20% of the total credit limit in a month so you can pay it in full when the bill comes in and you have plenty of credit available for emergencies.

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JayH2189

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Thank you Rich and jwsister!!!

These accounts are in collection and have been sold off..I'm not sure how(or even if I can) figure out where they have gone and to which agency. They are the only thing pulling my credit score down aside from the typical student loans for school.  They are both medical bills originating from 2008-2009ish back when I didnt have health insurance..hence why they were so much and I couldnt pay off in a timely fashion

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I recommend doing what jwsister said.

Other consideration:  You will hear people say that it stays for seven years.  I think there is a little more to that that needs mentioning.  I think it is seven years since last activity.  This could mean if they update something, it may reset or extend that clock.  Case in point: You need to make sure before you pay it off, that it isnt going to drop off due to age in a couple months and by paying it all you do is reset the seven year clock and keep it on your report for another seven years.  If it is relatively fresh, then get it paid.

Some have told me there are other possibilities.  Talk to the collection agency and see if there is anything that can be done.  If you are paying on it, they may work with you.  There have been stories (especially lately) of credit companies gettting people to pay on debts that they usually wouldnt, by opening the account back up or creating another one that is in good standing as long as you pay on it.  This will probably not erase the bad entry, but if it ends up putting another good acct on your credit report, it will help.

Reply by
JayH2189

2 Contributions
1 Person Helped
Helpful to 1 out of 1 people

Thank you Rich and jwsister!!!

These accounts are in collection and have been sold off..I'm not sure how(or even if I can) figure out where they have gone and to which agency. They are the only thing pulling my credit score down aside from the typical student loans for school.  They are both medical bills originating from 2008-2009ish back when I didnt have health insurance..hence why they were so much and I couldnt pay off in a timely fashion.

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