Posted on: 17th Feb, 2011 12:19 am
When i was younger i made the mistake of getting several credit cards and then lost my job, going over my report recently i have found 6 or so revolving accts or open accts, is this something i should pay even if the removal dates are within the next yr? Also i have a few charge off/bad debt dings as well, and more than likely to come up with the amount in full before the removal date occurs is not very likely. So should i not contact to make arrangements to pay off the debt? Or wait til the removal date occurs? I know that sometimes you contact to make arrangements starts the 7 years over again. I would like to get my credit fixed to get my life back in order, and being really unfamiliar in the process and terms and try to go about it the correct way has left me very confused . Any help you can provide would be very helpful
Hi taylor!
Welcome to forums!
You will be liable for paying off the credit card debts. The credit card company can charge off the debts if you don't pay them off. It will be better if you could pay off the debts asap. It'll even help you in improving your credit scores.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will be liable for paying off the credit card debts. The credit card company can charge off the debts if you don't pay them off. It will be better if you could pay off the debts asap. It'll even help you in improving your credit scores.
Feel free to ask if you've further queries.
Sussane
If you're certain that these debts will be removed within a specific timeframe, and that date is approaching, then I suppose it makes sense for you to wait that out without contacting any of them and/or trying to pay them.
You can certainly try to begin establishing some favorable credit in the meantime, though that will undoubtedly be difficult when prospective creditors see the negative items on the report.
One way in which to begin rehabbing a credit report is with secured debt - find a lender who will offer a secured credit card, for example, and begin using that to attempt to establish favorable tradelines. DO NOT use First Premier or any of their ilk - they'll give you the card, but charge you exorbitant amounts of money in the first month, causing you hardship and pain in the process.
You can certainly try to begin establishing some favorable credit in the meantime, though that will undoubtedly be difficult when prospective creditors see the negative items on the report.
One way in which to begin rehabbing a credit report is with secured debt - find a lender who will offer a secured credit card, for example, and begin using that to attempt to establish favorable tradelines. DO NOT use First Premier or any of their ilk - they'll give you the card, but charge you exorbitant amounts of money in the first month, causing you hardship and pain in the process.
