Thread: I need some credit advise

Heres my situation i have 3 credit cards all maxed out and in collections and a phone bill all totaling $4,500. I got ripped off by a family member who owed half these payments and was never paid back also i lost my job and had no money to my bills. Now i just recently got a job and want to do what i can to salvage my credit. What should i do? Settle the debts by calling each collection agency and trying negotiate a lower total?
Declare bankruptcy?, Credit Consolidation by one of those shady looking companys? I'm lost

Originally posted by Wtu311
Heres my situation i have 3 credit cards all maxed out and in collections and a phone bill all totaling $4,500. I got ripped off by a family member who owed half these payments and was never paid back also i lost my job and had no money to my bills. Now i just recently got a job and want to do what i can to salvage my credit. What should i do? Settle the debts by calling each collection agency and trying negotiate a lower total?
Declare bankruptcy?, Credit Consolidation by one of those shady looking companys? I'm lost

Welcome!

First let me say - Do NOT do credit counseling. NO NO NO.

That said, have you read the newbie links yet? There's some great info here ..... REALLY great and before you do ANYTHING - you need to familarize yourself with the ins and outs of credit clean-up. It has waited this long, it can wait another week or two while you get educated.

Welcome again!

Where are the newbie links?

Originally posted by Wtu311
Where are the newbie links?

http://consumers.creditnet.com/strai...243#post410243

Sorry guys ive read the links and im still lost on what to do. :(

Originally posted by Wtu311
Where are the newbie links?

They're a part of my signature.