Hi, Unfortunately i had to default on few credit cards few years ago. They hurt my credit. I have settled one of them. Still three accounts are carrying balance, needs to be settled. Out of three, two carry small amounts, i can pay them in full. Will it help if it shows that i have paid off? The third account, i cant pay off immediately as it carries 6k balance. I am in a payment arrangement with a collection agency for Citi. I need to see if i can work with them for a settlement plan. If i settle will it be a problem compared to paid in full? Well if i have to pay in full, it is going to take long time. Recently i have opened some trade lines, but none of them give me good credit line as they see these charged off accounts. My total trade line 3450. But i got approved for a personal loan 6 K. from Spring leaf . From this amount, i need to pay to my friend for my used car. I will have some amount left which i am planning to use towards paying those credit card accounts.
Capital one QS1 300, Platinum secured 300. Walmart 500. Amazon 800. Credit one 700. Victoria secret 350. Paypal smart connect 300.
What do you think i should be doing to bring up my credit.? I have told my story hoping to get some good advice as I sincerely want to repair my credit.
My fico scores are above 550 but below 600. Fako scores are 600 – 620