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Question By
michael25235

3 Contributions
6 People Helped
How to repair my credit.
I am almost 30 years old and I have a score of 504. So bad I could not get a secured card if I tried. I have student loans in deferment. I have approximately $8000 in collections for outstanding bills. I want to get my score up and I know that if I pay on my student loans when they come out of deferment that it will. Is there any other way to help myself out in this case. I am currently working on 9 accounts that got merged into 1 account in collection. It is only $363 but will that help me out when it is paid or am I doing that all for nothing.

Someone also advised me that bankruptcy is also an option as well.

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Top Contributor
12 Contributions
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bankruptcy  is last choice! keep that in mind that it will stay in your credit report for long time. 

If i was you I would start paying that 8K that is in collection full amount. 

Once that is clear student loan  At same time open secure CC with as much as deposit you can  secure it. I had same thing no credit history then i did not pay some billes and had to get secure card with 5K deposit kept it for 2 yr and they un secured it for me. now i have 790 Score with just 2 cc acount with no collection after 2 yr. 

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