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get my credit score in good condition should i join an debt management program?? i need some tips on how to pay this off as soon as possible..thanks
my credit score is in the 400’s

5 Thoughts on ok so i am in debt for 10,000 dollars and all of my accounts have went to collections and it;s time for me to?
  1. Reply
    danesgirl74
    June 10, 2011 at 12:11 am

    How bad is your credit? If you can get a personal debt consolidation loan from your bank that would be the best route to go.
    I don’t recommend using the debt relief services because I have heard they affect your credit score too!

  2. Reply
    Honey
    June 10, 2011 at 12:28 am

    That’s a tough situation, I would try to negotiate with the collectors. Perhaps they can settle with for less and in payments

  3. Reply
    mister ed
    June 10, 2011 at 12:45 am

    no do it your self — first get rid of wants cell phone — internet — cable tv and any other want — only keep the needs and throw all of this extra money at the bills!!!!

  4. Reply
    SPIFIMAN1
    June 10, 2011 at 1:04 am

    Now for the complete answer.

    Do it yourself, contact the collection companies and first ask if they will give you a pay for delete agreement and what it will cost for it, if they agree get it in writing before you pay them a dime.

    If they don’t agree, see what amount they will settle for and if they will take payments. Start with the newest and work you way back to the oldest.

    The things you have to remember is that if they do not agree to the pay for delete agreement when you start paying these collections it will actually lower your score because they will become current accounts rather then old accounts, this and the fact that the last 24 months of activity make up over 90% of your score is why you start with the newest and work your way back.

    This is not going to be a easy or fast process but you can do it.

    Good luck.

  5. Reply
    SheilaB
    June 10, 2011 at 1:19 am

    It depends on what you are wanting to do. If you want to clear all of the old and build a high score then pay then off. If you want to get a higher score faster then when you pay off a collection it brings your negative account current which in turn will make your score go down. If you make payments on all your bills for at least a year that will bring it up. Either way you will have to have some kind of revolving credit so they canmake a judgement on how you pay things out. If you only have negative info in revolving debt then you need to try to get some that is not neg. Good luck and getting your score to go up is alot harder than getting it to go down.

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