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Posted in Paying Your Bills
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Question By
brodskymj

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Is it possible to combine all my bills in various collections into one amount and make payments?
I'm 23 (don't own a car or house), finished my BA in '12, and now I'm looking to fix my credit score so I can one day buy a decent used car!

I'm currently making around $1k/mo (although looking for a full time job), and my $35k in student loans are in forbearance for now.

I have around $3k in unpaid medical bills from '11 that have since gone to various collection agencies, and I'd like to find a way to consolidate the the amount into one lump sum to make monthly payments on.

The only thing I could think of is to take out a loan to pay off the collections, then just make payments on the loan? My credit score is reeeeally bad, so I'm sure if I did I'd be slapped with ridiculous interest rates if I did that... Is there a better solution?

Oh, and just a side note, I'd like to go back to school for my MLIS in a year, and if I could get these collection bills/loan/sum paid off before then, that would be fantastic.

Any advice?

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from what i understand paying it off will make your file look better but it wont help your score at all. as for consolodating im not sure how that works as i have never looked into that

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Helpful to 0 out of 2 people

Would paying off my debts in collections all at once even help my credit score?  I want them gone!

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