Credit Repair after Settlement
Date: Thu, 03/21/2013 - 11:23
I have recently settled 2 credit cards, one before charge off the other after. I still have one credit card left with Citi for 9k. I am currently starting the third year of a 5 year 0% payment plan with them. I did not have the funds to settle all three credit cards at the same time, thats why I kept paying them. Also, I had heard that they are more likely to sue you than other creditors. The Citi account shows as closed in my credit report.
My questions are: Are they payments I make under this 5 year plan helping me to rebuild my Credit Score? Are there any benefits to my Credit Score if I pay the full amount ASAP so it also disappears from the Credit Report?
I know the charge off debt and the settlements will appear in my credit history for 7 years. I am trying to decide if I should start with Secured Credit Cards as soon as possible to start rebuilding my credit.
My questions are: Are they payments I make under this 5 year plan helping me to rebuild my Credit Score? Are there any benefits to my Credit Score if I pay the full amount ASAP so it also disappears from the Credit Report?
I know the charge off debt and the settlements will appear in my credit history for 7 years. I am trying to decide if I should start with Secured Credit Cards as soon as possible to start rebuilding my credit.
Go for the secured card as
Go for the secured card as soon as you can. It will help you rebuild your credit over time and you will have double the control on your spending.
None of these payments are
None of these payments are helping your credit...nor will paying it in full. It is going to take time and good credit to rebuild your credit.
Secured Card
Will go ahead with secured credit card then. I was able to join Navy Federal CU recently so will try theirs. Thanks