I am looking to repair my credit
Q: I am looking to repair my credit. I understand that is going to take a few years, but I would like to do it as intelligently as possible, and as quickly as possible. I owe $8,000 to assorted debt collectors and have one judgement against me. I was wondering if it would be best to try and settle with them or pay what I owe? Should I let the accounts that are year or so away from being dropped just go away or pay those first?
A: Even if some accounts are dropped off due credit reporting bad credit time limits, some can mysteriously reappear sometime, when you expect and need that the least. As far as judgement, check the statute of limitations but double check with your state recent changes.
To settle or to start negotiating? It depends on what you want and when? If you are going to apply for a major loan sooner than later, then you better pay those collection off and start establishing credit anew as soon as possible. You can try to settle, but only if you get an agreement in writing quickly and for a sizable savings.
Mon Aug 6, 2007 01:08PM | Copyright: www.bad-credit-advisor.com | More in Credit Repair Tips | Comments (0)
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