Need some Really good suggestion

Discussion in 'Credit Talk' started by adam83, Jun 13, 2010.

  1. adam83

    adam83 New Member

    Here is My story. I was in college in 2003 and I was stupid I had 8000 dollar debt and I didnot pay and I was bit careless.After grad I kinda gave up credit life i was making descent money so and so . Recently I think I should start fixing my credit . I pull a free credit report and found out my score is 593 and most of the debt is gone I have now 1800 dollar. Is it true ? I reallly need some suggestion what should I do and how to increase my credit score. It shows no Enquiry last 2 years. I am still using my same checking account and 2 other bank account. Zero account open . Please let me know what should I do ? should I talk to a lawyer or something else.
    Thank you all
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I'm not sure what you're asking regarding the $1,800. Can you please clarify your question?

    In general, you'll want to take care of old debts (collections, charge-offs) in such a way that removes the negative listings from your credit reports. You'll also want to actually get some revolving credit, use it sparingly, and always pay on time so you can start building some positive payment history. If you have a close friend or relative that would be willing to add you as an AU on one of their credit cards in good standing, that should give your scores a boost as well.
  3. adam83

    adam83 New Member

    My question was i have not paid my credit card bill over 7 years , what should I do now. & years ago i had debt around 8000 dollar. I want to work out with my credit report or credit score. what should I do talk to a lawyer or something to fix it again
  4. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    The credit card you never paid is probably still in collections, which means you'll need to work directly with the CA to negotiate payment and removal of any negative marks from your credit reports. Take a close look at your credit reports to see which CA owns the debt now. If it's 7 years old and no one has contacted you, you may just want to let it go a little longer and it should fall off your credit reports soon. However, that doesn't mean the debt will vanish.

    You can certainly clean up your credit reports and start building credit yourself with the help of forum members here. There's really no need to hire a lawyer or credit repair firm unless you have absolutely no desire or time to make it happen. Of course, you'll be much better off in the long run if you take the time to do it yourself, as you'll learn invaluable lessons along the way.
  5. Hedwig

    Hedwig Well-Known Member

    I agree with Joshua. If it's seven years old, let it go and it will fall off soon. You may even try disputing it as "obsolete."

    It's probably past the statute of limitations for collections as well. That doesn't mean they can't come after you. But if they sue you, you need to go to court and raise the affirmative defense that it's past SOL.

    And you can do this yourself. You really need to get some revolving credit so that you can get a decent score. Removing everything if you don't have any credit won't do much good.

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