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Hi everyone,

I'm 26 and looking to repair some of my bad debt. I made some mistakes when I was younger and looking to get myself on the right track.

My Fico score is currently 632 via Equifax. I have 2x open credit card accounts with perfect payment history (although one card is currently over utilized, but I will bring that down ASAP) totaling about 1.8k and about 10k in school loans (mostly perfect payment history).

I have 2x bad debts on my account that are in collection. One at ~1k and one at 350. Last payment I made on them is from Dec 09 and I live in NY.

What is my best course of action? I never made any voluntary payments to the collectors so the account should still reflect the last payment made in Dec 09. Should I hold out another 3 years for the stature of limitation? Should I pay them off? I do see that the collection accounts on my report show that they were open in '11 and '13. Do I need to worry about that or continue to go off of the last payment date on the actual credit card?

If I continue to ignore these bad debts, what are other ways I can continue to increase my score? Do utilities under my name help or anything similar?

Any advice would be super appreciated.

Look forward to hearing from you.


Your debts are still within the NY SOL of 6 there still is a possiblity that you will be sued. That right there will tank your score more.

Sub: #1 posted on Mon, 07/29/2013 - 16:21

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