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Very little credit and I have collections what can i do?
So I am a young guy and well when I was 18 I lucked out and got myself into a sales position and made awesome money! Things were great bought a nice car cash and had a single credit card that paid up on time to establish credit I thought it would have been a great idea to get a personal loan so I did. On top of this I had a nice amount in my bank account for cushion well tragedy struck in my family and someone needed the money really bad so I helped them and gave them what I could from my account well this helped them significantly. Ironically before I could replenish my account my company had to downsize so I was jobless.

With no money in my bank account except the last paycheck which I need to pay rent, and other bills I had no reserve I had to use my credit card to the full max which was 300 and unfortunately after this I was not able to pay my insurance , credit card payment or personal loan for a couple months (still living off final paycheck) I finally got two jobs that still didn't compare to my one and I failed to pay off the debts and I couldn't move home with my parents because that was impossible so it was eat and pay rent or pay my insurance, loan and credit card.

Sure enough these went into collections and a couple years later I have a great job again in sales and I can pay these off it is approximately 2500 in debt.

I get it that was all my fault, I was young dumb and living beyond my means but how can I move ahead.

I have money in the bank as a cushion as well as a nice 12k to put down towards lease and I had the idea of leasing a car after these are paid off but will it effect me enough to allow me to get a lease so I can rebuild or just build my credit or am I screwed?

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How old are these collection accounts?  If unpaid, they will fall off on their own 7 years from date that they first went delinquent.  If that is a long ways off, then contact each collector and negotiate a "Pay Per Delete' agreement with them.  The agree IN WRITING, to remove the accounts once you pay them off.  Otherwise, if you pay them off, the accounts STILL stay on your credit report for 7 years from date you paid them.  Of course, a PAID collection is better than an UNPAID, but having them gone is even better!

Personally, I hate the idea of leasing a car; you spend a ton of money and end up with nothing at the end of the lease (unless you want to dump MORE money into it).  Start out small, only get loans if you TRULY need them until you've repaired your credit.  Visit and click on "Repair Credit" for tons of great info.  No sign up needed, totally free website.  Best of luck!

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