Charge Offs? What to tackle first?!?!

Tips and Deals Forums Consumer Credit Improve credit Charge Offs? What to tackle first?!?!

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    • #246897

      Hello Everyone!
      I’m new to this. Please excuse all my questions.*
      When I turned 18, I decided to get a credit card and a new leased car! I mean come on, freshly out of high school, and they want to give me shiny new toys…. I grabbed them without hesitation.

      Anywho. I’m going to be 24 this year, and I need to fix my past mistakes.
      I’ve researched a lot of places and myfico seems like the type of place with people that know their crap!

      So I have a question.
      I pulled up my credit report recently…. and I have TWO charge offs:*
      1. For the lease that had unfortunately got repossessed…. says it has a $0 balance. (I’m confused by this. Do I owe money?)
      2. For my credit card has a $859 balance. *
      I also have three old collection accounts. Each of them well under owing $400.*
      So I don’t have to much “total debt”.*

      On a positive note… I have had a Cap One Secured card for 9 months now, never late, and ALWAYS under 30% usage.

      So, what should I tackle first? Also, I heard of a way settle collection accounts by only paying around 50% of what’s due by sending a letter to each agency, is this feasible?*

      Thank you so much for taking the time to read all of my ramblings. Any help is GREATLY appreciated.*

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