Settling Old Credit
Date: Tue, 01/05/2010 - 23:04
Quote:My questions are, what would settling the accounts do? Wil
Quote:
My questions are, what would settling the accounts do? Will it hurt my credit more? |
Settling these accounts can't do more harm to your credit score than they have already done. But taking care of these accounts would surely have some positive effects on your report and you may even see some improvement in it over time.
Quote:
Also, should I attempt to do this on my own or should I go to someone and have them do it. |
Thank you settlement steps has me convinced i could probably do
Thank you settlement steps has me convinced i could probably do it on my own or atleast try and what I cant finish try with someone else. Also another question...I have looked at my credit report like 3 months ago when I found out about this whole money situation, the thing is I don't even recognize like half of the stuff that is on there. I know they are credit cards I had but they have been charged off to other collection agencies. How do I figure out what is what on the report?
You need to obtain proper validation from the collection agencie
You need to obtain proper validation from the collection agencies if you don't recognise the debts. Take help of the sample letters to draft your DV.
You would get the names of the CAs from the credit report. Search them online for their addresses. Remember, don't make any payment arrangement with them before you get proper validation.
There are loads of threads where dealing with collection agencies have been discussed. You may wish to read few before planning your next move.