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Mommadough

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How do i set up payment arrangements for my debts
I need to start paying on my collections to build may credit. How do I go about doing that if possible one payment a month to cover all my collections owed?

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Read up on the articles here on CK

About handling yoru debt.  

There are many companies out there that say that they can clean up your debt and pay your bills for you.  DON'T get taken.  Its to their advantage to drag out your payments as long as possible because they will keep half or more of your monthly payment for themseves and drag out paying off your debts so you will keep paying them.  

There are 2 schools of thought and many factors to consider.  Reading the articles here and elsewhere on how to pay off your past due debt would be a bighelp in creating your plan.  

I believe its best to pay off the smallest oldest accounts first.  Any account that you can pay off in 1 or 2  payment do it.  Accounts bith large balances can often be negotiated down specially iof they are old and gone to collections.  READ up on how to do that.  Keep any agreements you make with Debt collectors.  Stick to a plan and you can get this under control.   You have to, Its your credit, no one else will do it for you.

Your credit scores stay with you for the rest of your life. It's that important. 

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Making payments on collections does NOT build credit. Please do some thorough reading on how to handle collection accounts before you take any action. Enter payment arrangements with debt collectors is usually not a wise move (can be in some situations, but usually not). "Pay for Delete Agreements" are the best situation to deal with old debt, but they usually require one single payment in full. You should not contact the debt collector or have any communication with them about anything, until you do some serious reading. They will take advantage of you in any way that they can, so you need to know the game. Also read up on the FDCPA (fair debt collection practices act).

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