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Posted: Sun Feb 18, 2007 1:33 am Subject: I need help fixing my credit.

I was a student and used too much credit and now am beyond past due on everything, I would like to consolidate all my bills and pay them off. I have credit card bills, repo's, hospital bills, etc.

Posted: Sun Feb 18, 2007 5:15 am Subject:

Hi bionicbryan -

Welcome to the site! If you signed up for the free counseling session when you registered, a consultant will be contacting you soon to discuss your options for debt consolidation or settlement.

If you haven't pulled a current copy of your credit report from all three reporting agencies, it would be a good idea to do so. It will give you a better idea of your overall credit and debt situation. You can obtain reports from all three reporting agencies from annualcreditreport.com - it's free, once per year, or any time you've been denied credit, and there's no fee or monitoring program to sign up for in order to get the reports. Once you have a handle on your situation, a monitoring program is not a bad idea, as it will help you keep an eye on your credit reports for any negative items being reported or fraudulent activity.

You are not obligated to use the programs offered by the consultant who will be calling you. You may continue to work with your debts on your own, or seek another credit counseling agency in your area.

You mentioned you have repossessions to deal with - has the financed property already been given back or taken back by the finance company, and now you're trying to deal with the debt left on it, or do you still have the property in your hands?

If you have any questions, please feel free to post them - we're here to help!

karrie · Posted: Tue May 13, 2008 7:57 pm Subject: my credit report is a mess

"I don't have allot of credit card dept I have 5 unpaid doctor bills from 6 years ago a loan for 7000.00 charge off from 6 years ago and some other small collector bills all from 5 to 7 years ago what should I do pay them off or wait for them to all off my credit report?" in Yahoo! Answers

Posted: Wed May 14, 2008 3:25 am Subject:

Hi karrie,
While these items will not be reported to the credit bureaus anymore after 7-7.5 years, it is still not a good idea to just "not pay your bills". You would still need to follow-up with the credit reporting agency about removing the items if they don't automatically fall off after that time. By just not paying these on purpose, you basically "stole" those medical services and other items you may have purchased, and that is still a bad idea.

If I were you, I would research ways that you might be able to pay back these companies. Find out the SOL (Statute of Limitations) in your state, to make sure that these companies can't try to sue you anymore. Basically, they can try to collect from you for 7-7.5 years, but if your State's SOL is, say, 6 years, then most of these creditors can still sue you for these debts, and may wait till the last minute to do so.

Try to search for "Credit SOL States" on Google, and see what you find for your state, then let us know what you find.

Good Luck!

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