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I let someone use my information for their electricity bill and what had happened was that they ended up not paying it for a couple months, so now there’s an outstanding balance of $ 781 in collections under my name. The person has been making payments slowly but every time i try to apply for a credit card i get denied. Does anyone have any advice on what i can do to better my credit.

-And if i pay off the whole amount at once will it make a difference, or is it the same as making payments?

7 Thoughts on How can I fix my credit after getting screwed over?
  1. Reply
    Stephen T
    July 23, 2011 at 7:52 am

    The sooner you pay it the sooner you can get on the road to recovery of your credit record.

  2. Reply
    Help Is Here!
    July 23, 2011 at 7:58 am

    The only way to fix this is to pay it off and wait a couple months for your score to improve a bit.

    Making payments is not as good as paying it in full, because it is in collections..therefore, it is reported on your report as in collections every month, which will take your score down.

    It is better to just get it paid off.

    And, never loan your name and ssn# again for a bill or credit card. Most if not all people who *borrow* it will never return it in the same shape it was when you loaned it. Obviously, they couldn’t get it in their name because they abused their own credit. Why would they treat yours any different if they didn’t care about theirs?

  3. Reply
    CatDad
    July 23, 2011 at 8:48 am

    You may be able to negotiate the complete removal of non credit card debts like defaulted utility bills from your credit report with a Pay for Delete agreement. This is a written agreement where you get a signed agreement from the debt collector (PRIOR to making any payment) where they offer to remove the negative items from your credit files after an agreed-to amount is paid. They will NOT want to do this….all they want is your money and their commission and they could not care less about your credit rating….Still, you have something they want (money) and that puts you in a position to negotiate on this issue. Example letter:

    I am willing to resolve this issue if your firm sends me a written agreement that you will remove all negative notations from my credit report after the agreed-to amount is paid to you. Upon receipt of this letter I will mail you a USPS money order for this amount.

    ———————————
    Again, they are not going to want to do this…if they simply refuse to remove it, then you want to negotiate that they will update your credit report to “Paid in Full.” . You DO NOT want them to put “settled” on your credit report, as that’s a negative factor….

    Obviously you’re going to have to pay the entire amount yourself if you want to clear your credit…this won’t work paying a little bit every month.
    ===============================
    FYI: You have seriously comprised your personal information and you’ve opened yourself wide open to being a victim of identity theft. I’d advise to closely monitor your credit reports over the next year.

  4. Reply
    redcurleyz
    July 23, 2011 at 9:16 am

    I would pay off the amount as soon as possible. It will make a difference sooner then later, and sooner then making payments. If you pay it off yourself, BEFORE you do go the person who is making payments, make them sign a IOU and agreement to pay you back for the outstanding balance. Once they sign it go and pay the balance off, have the people start to pay you. If not take them to court.

    And let this be a hard lesson learned never do that again. Never put a bill of any kind in your name for someone else. The people can whine, cry whatever but the outcome is usually the same. They stop paying, won’t pay, run the bill sky high, take off. All cuz they have taken advantage of people. And it seems that the reasons for not paying are all the same, no job, lack of money, there was a “disagreement”.

  5. Reply
    mslearning4fun
    July 23, 2011 at 9:33 am

    prove to the electric company you never lived there
    unless you already explained to them that you
    helped a friend

  6. Reply
    Chanelle P
    July 23, 2011 at 10:20 am

    You might consider getting id theft insurance. I sell a policy that is only $ 12.95 a month including you a spouse/partner and your dependants. This includes monitering your credit, recovery and cleaning it if needed and includes protection if your id is stolen by ssn, passport or other means and if there are any criminal charges associated with it. Please email me if you would like more info. I had my purse stolen out of my car a few weeks ago it was a life saver that I had this insurance. Please email me [email protected] you can sign up online or I can speak with you the phone about it. Also you might want to get a lawyer involved and I sell prepaid legal services for just $ 26 a month and $ 10 to sign up
    Chanelle

  7. Reply
    Dick
    July 23, 2011 at 10:50 am

    Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – freecreditreport.hotusa.org

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