Can you fix your credit by yourself?

Question

Like without going through a credit consolidation place or a law firm? Can i work something out on my own? I have 13 accounts in collections & 1 account has a judgment against me & I really want to get it fixed I just don't know how. Please help

Answer 1

ONCE THIS IS ALL DONE ..PLEASE REMEMBER ALL YOU NEED IS   ONE MAJOR CREDIT CARD....... THE REST ARE UNNECESARY

AND FORGET THE DEPT STORE CARDS AS WELL ...DID YOU REALLY SAVE MONEY ? NO  NOW YOU ARE IN DEPT AND CANT PAY........CASH IS KING  AWAYS HAS BEEN ALWAYS WILL BE

Answer 2

Yes you can!  

Here is some steps:

1. Get your credit report from all 3 beaus.  www.annualcreditreport.com

*You are allowed 1 free credit report a year.  (or you can always apply for a card, get declined and then write the credit beau for your report.  But thats much more annoying).

2. Find everything that you owe, possibly figure out how much debt you owe total.

3.  Start calling each place 1 by 1.  You have a few options.  You can take a settlement amount...that you must pay upfront.   This can be very low depending on how long the debt has been sitting there, but it looks worse on your credit.

Or you can set up a payment plan.  In this case the company will often re-open your file, and the new ON TIME payments you make will reflect on your credit report.  (This helps pay things down, and improve your credit)

**** ALWAYS request Receipts, and save them.  If the company forgets to report it, you'll end up disputing it with the credit beaus, and you'll want proof you paid!

4. Cut up any current cards you have..etc.  And do not borrow money until all this debt is paid.

*Once your all paid off.  Then consider building your credit.  I would avoid anything but a small loan.  Maybe $2000.  The reason I say loan not credit card.  Its a fixed %, it has a specific pay off date.  Revolving credit (credit cards), can spiral out of control quickly.  

*The judgment will the the hardest to take care of.  Most judgments stay on your credit 7-10 years...even if they are paid.  So it will be a negative spot for a while.  

Good luck.  We've been working on my boyfriends credit for 2 years.  Its improved, but it just barely made it to the "fair" category this year.  So I wouldn't expect a fast result in your score.  

Answer 3

Yes, you can call up each creditor and offer a settlement. Usually, you’ll offer a lump sum like a $500 payment on a $2,000 debt (just an example). They get money immediately, and then they leave you alone. The creditor does have to take it, but you lose nothing by trying.

Here are some articles on the subject:

http://ezinearticles.com/?Effective-Sett...

http://www.credit.com/slp/chapter9/Why-W...

Answer 4

The best way to fix your credit is to pay your bills.  

Answer 5

actually yes you can, you can do the same things a law firm does. you should also look into the laws of your state and check to see if any of your accounts are about to be outdated or are outdated, then you can have them deleted from your credit report. you can e-mail me for more information

Answer 6

yes you can. Start with the judgment and pay that off as quick as you can. Then take the smallest bill due and take what you were paying to the court and pay them off. Keep adding what you should have been paying monthly and work your way up the ladder. By adding to the payment every time one bites the dust then you are moving forward and with each one down you have an accomplishment to be proud of and never to be heard from again. It is called a debt snowball and you can climb out and get back on top in a short time. Never give these collectors any checking account info as they may swipe the account clean. Get ever thing in writing first before you send one dime. If a settlement is offered then take it it but as I said before in writing first and pay them as agreed to in what you set up with them

Good luck to you