I have an outstanding credit card and checking account from 1990, plus several various small bills that all went to collections since then (medical, utilities, etc.) I have never paid anything! I know how wrong this is, and I have no excuse. I have been slowly but surely trying to straighten up. I purchased my first car six months ago, and have been on time with all of those payments. I have no other positive credit, unless you count a longstanding account with RentACenter. I also just opened a checking account in Oct., and I have been doing well with that (although I did have a slight miscalculation during Christmas). I have a great, stable job. I have been with my employer for more than 5 years, and I make about $47-48,000/year. I am also a single mother of 3 small (2,5,7) children, and I rent my home. I have thought about credit consolidation, but that appears to be geared more toward current outstanding credit card balances rather than miscellaneous collection debts. I am seriously determined to get my credit going, so any advice would be appreciated. Thanks
No, you are not the worst case scenario. If you do have an outstanding debt from 1990, it is more than likely uncollectable (unless you live in Ohio). It is probably past the SOL. You are probably not in as bad of shape as you think. First things first...Welcome to CreditNet. Ok, now, what I want you to do, is read through the board, and get some information before you get going. Then pull your credit reports. You can do this online, and reading through the board will tell you where. After you get your reports (all 3 not just 1) let us know what's there and how you feel about it. Then we can try to help you through personal experiences and knowledge. Oh, and don't be afraid to ask questions. We are all here for help and answers too.
If these credit cards are from 1990 and it is still appearing on her credit reports would she have a case against the CRA's? Especially if she just bought a car, it would have caused a higher interest rate therefore a higher payment becasue of their error??? Anyone with thoughts on this? KHM
We don't know yet. I can't tell by her post if it is there or not. If it is, then most likely yes. I guess we will have to see.
Welcome to the board and you will find most everyone here very helpful and friendly. If you have small older collections, medical etc you "probably" can get these taken care of pretty easily. Do what Erica suggested..getting reports first and then start asking questions and read any posts that look related to what you need to know etc.
