Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
monarchmoon86

1 Contribution
0 People Helped
What is the first step to help rebuild my credit? is it to pay off all collections?
I have 19 collections that total a little bit over $10,000, one garnishment, and I did recently receive a secured credit card with a $250 limit. I want to be able to get my score up to a 700 at least. what should I do first?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
3051 Contributions
2791 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

If the collection accounts are fairly new, you may want to see if they are willing to work out something with you, preferably where they will agree in writing to delete the account once paid (for whatever amount you both agree on).  Any unpaid collections will fall off your record 7 years from the date they went delinquent.  If you pay them off without a "Pay Per Delete" agreement, then they will stay on your report for 7 years from date it is paid off, although that hurts less.  The older a bad account is, the less damage it does to your score.  Without seeing your full report it is hard to say what to do first, but getting the card was a smart start.  Visit www.credit.about.com for advice for your specific situation.  Best of luck!

Reply by
monarchmoon86

1 Contribution
0 People Helped

So if a debt falls off after 7 years and since the debtor can still try to collect a debt, can it be listed in the credit report again?

1 Contribution
0 People Helped

Large Balances

I have some debt not listed on my credit report. I want to know, if the large amounts listed on my credit report, should I pay those balances first, like anything over $1,000 or more?, then begin to pay the lower balances while still paying on the low balances not listed on my report?

Top Contributor
1132 Contributions
1210 People Helped

Helpful to 0 out of 1 people

Hey give these guys a call Credit Pros 1-877-235-0324 they can help.

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.