Have some questions on Credit Report?

Question

Ok I have super bad credit, but i want to repair it now, and i am thinking about paying the small amounts first, but i am a little worried there is two different collections on just one amount, if i pay one off will the other one automatically erase or how does this work i have a few charge offs and they are set to be erased next year but can they send it to another collection agency? If anyone knows how to delete charge offs from the credit please let me know how? I don't have money to pay a firm to do it. Please help!!

Answer 1

First off, don't make payments to anyone that is nearing the statute of limitations!!! By making any type of payment you reset the statute and end up making it sit on your credit report for ANOTHER 7 years! The first thing that I would do is collect copies of your credit report from all three bureaus- Experian, Equifax, and Transunion. Dispute every single collection or bad mark in writing or via each individual bureaus website- even if the charge is legit. These collection agencies just buy your account from the original debtor for pennies on the dollar and are nothing more than bottomfeeders. They have no real right to your money. If the collection agency doesn't respond- which they usually don't- it will automatically be removed. About 6 weeks after making the disputes, pull your reports from the 3 bureaus again to see what has been removed. The ones that have not been removed, send a letter directly to the agency. Please carefully read this website to know exactly what to say and what your rights are. http://www.creditinfocenter.com/rebuild/...

These collection agencies often have no real right to collect from you. And remember as soon as you make a payment to them the statute starts all over so be careful who you pay. Also, NEVER EVER give them your checking account number or credit card numbers etc. They often use illegal tactics to get money out that you did not authorize.

I forgot to add- if you do decide to pay anyone- tell them that you will only pay *IF* they agree to remove the entire file from your credit report and make sure that you get this agreement in writing before submitting anything! This will clean up your credit fast.

Answer 2

contact ALL your creditors and try to pay each a little at a time, instead of paying off one or two. Pay MORE to the lenders with the highest interest rates. A credit history is seen as a TOTAL picture, not one or two windows. Contact each of the agencies that issues such reports and place a STATEMENT in your file that you are trying to get a grip on your financial woes and pay off all your debts over time. This statement MUST be included when they send out your report in future when you apply for credit.