Horrible Credit Pаrt 2?
okay i аѕkеd a qυеѕtіοn lastnight аbουt mу credit. аnd ѕοmе οf уου gave mе ѕοmе aswome аnѕwеrѕ. bυt, i аm still a lіttlе confused. here іѕ mу qυеѕtіοn…..
okay yes i know i аm young, bυt i аm admitting thаt i screwed up. i hаνе bаd credit….. аnd i аm afraid іf i dont dο something аbουt іt soon, mу whole future wіll bе rυіnеd. i аm 8 months pregnant, аnd ѕο i аm taking leave soon аnd probably nοt going tο gο back fοr a whіlе. i hаνе already gotten mу credit card payed οff. i hаνе called around tο debt consolidators аnd thеу ѕау i hаνе tο hаνе аt lеаѕt 10,000 dollars οf debt… i hаνе less thаn 2000….. іѕ thеrе аnу way i саn gеt thіѕ figured out soon аnd easily?
i cant apply fοr another credit card i wіll bе turned down. i dont know whаt agencies mу debts аrе through. іѕ thеrе аnу way i саn figure thіѕ out tοο? mοѕt οf thеm аrе already іn collections.
thank уου tο those whο dіd аnѕwеr, i јυѕt dont understand.
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Get a copy of your credit report for starts – it will have the name and contact number for all your creditors – Equafax is a good one to start with – look them up on the net and call them, they should mail you a free copy. Then contact each creditor and explain your current situation – make arrangements to start paying them, but never miss a payment. It will take a while, but your credit will start improving soon. . . . good luck and God bless and congratulations on your baby!!
What is the minimum you need to pay each month for all your expenses? This will soon be changing with the birth of your child. Do the research and find out about local programs to help with formula, diapers etc. Your credit will not get fixed in a couple months and will probably get worse first. Pay what you can and know that soon the most important thing will be caring for the baby.
I didn’t see your earlier email but here is my recommendation.
I would want you to contact your local UNITED WAY office and ask for a referral to their recommended Consumer Credit Counseling Service. (I am referring you to United Way so that you know that it’s not a scam).
Consumer Credit Counseling Service is the ONLY legitimate counseling service that I am aware of. Their website is www. cccservices. com if you’d like to get a head start on reading about who they are.
CCCS will work with you to
1. Set up a budget to determine how much you CAN afford to pay each month,
2. Contact your creditors to help make arrangements to lower interest rates and to accept lowered payments.
You will need to agree to stick with the budget and make NO further credit purchases (or enter in any new contract without their permission).
I worked at one time as a financial volunteer counselor for CCCS and can vouch for the fact that they are legitimately interested in helping you work things out.
Your local United Way office should be able to put you in touch with an office in your area.
As a side note — STAY AWAY from the “debt consolidators” AND from the credit counseling services you see on the infomercials or on late night TV.
Good luck and I hope this helps!
First, relax. Old credit card debt is NOT going to ruin your “whole future”. It damages your credit report for a time, and then it drops off your credit report eventually. Not the end of the world.
The worst thing people worry about is getting sued — in which some judge says yep, you DO owe them money. However, if you owe only a total of $2000 to multiple creditors, it is unlikely anyone would bother to sue you.
What you need to decide is whether you want to actually pay off and settle your debts, or do you want to never pay them — and either way you’ll want to take steps to repair your credit.
You need to do your homework and learn much more than you can learn here. I suggest the link below, I’ve found it’s a good site to learn about reviewing your credit reports, handling debt collectors, relevant consumer credit laws, how to repair debt, etc.
I had answered the last question that you had about fixing your credit. I’m here to answer some more questions for you again.
You should gather reports from all 3 agencies if you haven’t already, if you haven’t then you can obtain copies of your credit report by going to
http://www. annualcreditreport. com
Once you get these reports, then you not only can see what has went to collections, but also how much and the contact information of the collectors as well.
You mentioned that you can’t apply for another credit card. I had mentioned in another answer about secured credit cards. These are the easiest credit cards to get, but for right now, you should focus on getting your debts figured out.
Hopefully, this will help
Good Luck!