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I have about 15000 in charged off debt that I got over the course of about 2 years in college. 5 accounts are low balance credit cards that have been sent to collection agencies, and charged off as bad debt. this is about 9000 worth of my debt. I also have a couple of 500 dollar collections from cell phone providers that I screwed over while in college as well. I want to get some help repairing my credit but I don’t know where to turn to. I can’t finance anything with how bad my credit is. any input would be great. By this time next year I want to be at least 100 points higher and have most of this bad debt settled.

2 Thoughts on I need help with my credit!?
  1. Reply
    November 7, 2011 at 9:10 am

    I’m sorry you are so in debt at your age. Be cautious.. I’ve read many articles about agencies that claim to reduce your debt, help you get better credit, etc. that are complete rip offs. They make your debt worse and charge you for the privilege. I would talk to someone at whatever bank you have your accounts with. Ask them if they could possibly help you consolidate your debt into one payment and have them take the payment from your account electronically each month.. they might agree to it, it is worth a try and you will know you aren’t getting into a worse situation.

  2. Reply
    November 7, 2011 at 9:35 am

    However you pay these debts do not pay them without a pay for delete agreement, this simply says that in return for your payment they agree to remove the accounts from your credit.

    Paying old accounts that have been sent to collections without this agreement will not help your score at all as a matter of fact it will make it worse because by paying you make them current rather then old accounts and this will lower your score.

    Good luck.

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