Can I eliminate debt and salvage credit score?
Date: Sat, 09/25/2010 - 17:11
I have 16 negative items all are with collection agencies. With whatever I have, I can pay 12 off but I heard that paying them off will tank my score since they are old accounts. 6 are charged off and the other half are still listed as collection accounts. 12 combined are only about five thousand :o. 10 of those are with NCO (financial services and credit services) the remaining 2 are with six different agencies. The other 4 are almost $ 8,000 combined. Those 4 will have to wait awhile. I'm not in a position to do anything about them right now and don't see in the foreseeable future when I will be.
I'm trying to figure out if I should just pay the 16 off asap but I know that charged off paid in full still looks bad. My scores from the three bureaus are pretty bad Trans- 522 Exp-512 Eq-550. I don't want paying it off to send me further up the proverbial creek, if you will. I also currently am working on a doctoral degree which is extremely time intensive and don't have the time right now to learn everything that I need to know to go to war with these CA's and CRB's to try to negotiate pay for removals. Now that I know how bad my credit is, it's keeping me up at night. I have to do something I just don't know what to do. I'm hoping someone here can give me some advice.
How do I eliminate this debt and salvage my already shitty score? So should I just pay the 12 off now and wait until I finish school to try to negotiate removals? Will leaving the other two on be a huge deal if everything else is paid? I really don't want to do consolidation or settlement. I prefer to pay it all and be done with it. Or bankruptcy is the only choice left for me???Please help.....
I'm trying to figure out if I should just pay the 16 off asap but I know that charged off paid in full still looks bad. My scores from the three bureaus are pretty bad Trans- 522 Exp-512 Eq-550. I don't want paying it off to send me further up the proverbial creek, if you will. I also currently am working on a doctoral degree which is extremely time intensive and don't have the time right now to learn everything that I need to know to go to war with these CA's and CRB's to try to negotiate pay for removals. Now that I know how bad my credit is, it's keeping me up at night. I have to do something I just don't know what to do. I'm hoping someone here can give me some advice.
How do I eliminate this debt and salvage my already shitty score? So should I just pay the 12 off now and wait until I finish school to try to negotiate removals? Will leaving the other two on be a huge deal if everything else is paid? I really don't want to do consolidation or settlement. I prefer to pay it all and be done with it. Or bankruptcy is the only choice left for me???Please help.....
Paying off collection accounts wont raise your scores, as you wo
Paying off collection accounts wont raise your scores, as you would just be paying off a negative account. Most places wont do a pay for delete either.
Are these all within SOL?
