Hi everyone. I am actually a student, I am 22 years old, but when I was 18-21 I got credit cards, and Did not pay. Currently I have 4 Accounts that were reported to collection agency assest acceptance, but I have paid them all off, and but they are apprearing as negative items on my credit. So what can I do remove those negative items from my credit report and How can i improve my credit score. I want to be successfull in my life, but without a credit score I wont be able to. Please help me and all the advice is greatly appreciated. Should I contact the credit repair service, what should I do?
A paid collection won't help your credit score, which is why it's best to negotiate your credit score before you actually pay up. Anyway, is that how the baddies are showing up on your credit reports...as paid collections? You can try disputing something that seems inaccurate or incomplete about these 4 accounts through the CRAs. There have been several people in the forum lately who have had success removing paid collections and posted about it, so you might just get lucky too. Search around the forum and read their posts. As far as improving your credit score, there's plenty you can do. But first you need to make a pact with yourself that from now on you will use credit responsibly, always live within your means, and always pay your balance in full. That means you will never charge something to a card that you don't already have money to pay for. OK? Now, I don't know what your credit score is, but do some research here and find out what kind of card, perhaps a student or secured credit card, you can qualify for and get it. Start building positive payment history and keep your utilization low. Don't spend any more than 10% of your available credit. Also, have a close friend or relative add you as an AU on one of their old credit cards in good standing, and that should give your score a boost as well.
A little perspective here... It's just a credit report and it only matters when you want to borrow money (for the most part). You success is neither determined nor measured by Experian, Equifax, or the Fair Issac, Co. (FICO). You want to be successful in life? Think succesful. Joshua's points are all very good ones and can be summed up as "live within your means and be responsible." Do that and you'll be successful and, eventually, your credit report will catch up to reflect that. Keep your eye on the goal (being successful) not in the rear-view mirror (your credit report).
