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I have bad credit and want to fix it myself?*

I am 30 years old and I have bad credit for many different reasons. I would list my excuses but it does not matter. I really want t to fix my credit. I have like 4 good accounts and the rest (12-15 accounts) are bad. They are all in collections and I have already talked to a person who specializes in fixing credit. I want to avoid paying them so much money to fix my credit. My mother may help me fix my credit by fronting half of the money. I will be paying off my truck later this year and have around 400+ dollars a month. What are some ways that I can contact the credit collectionns myself and making arrnangents? I can print my credit report and do this myself if needed? any advice?

Answers:

1) start paying everything on time, call each company and set-up a payment plan and after a few months of on time payment you can ask to have the negative items removed off your report

2) Hop over to http://www.creditinfocenter.com and start reading. Or hop over to MyFico forums. Post or PM me if you like. You don't want to pay a credit repair company. You can do it yourself. The money you'd pay them would better serve you negotiating PFDs.

3) Gather information on all your accounts that are in collection and contact them individually and make arrangements to consolidate all of them into one or two accounts and make comfortable monthly payments that won't leave you without shelter or food. Second apply funds toward a secured credit card, usually you have to give a deposit of about $250-300 to start it up. Use it to buy small things during the month and pay it off completely when your billl comes in. Do this and within a year your credit should have improved drastically.

4) You are right to not use a "Credit Repair" service... they are ALL ripoffs... you can do this yourself. Dont call all collection agencies at once... you cant afford to PAY them all at once. Pick the smallest one and give them a call. Offer them 30% of the balance as a one-time settlement. See where that will get you... make a deal and GET IT IN WRITING. They will settle, but you MUST get it in writing before you send them a dime. Also, do NOT give them your bank information... send them a check in the mail. DO NOT let them draft your account. Collections people are mean, rude, and will try to say the right thing to piss you off and mess with your emotions to get you to pay them. If they are rude, tell them they are being rude and hang up the phone. Just work your debt from the smallest balance to largest and get rid of the debt. Also check out www.daveramsey.com He is a really good financial guy, he has a radio show, so if he is on in your city give him a listen, he has lots of good advice.

5) I don't know about ALL credit repair services being a rip-off..unless things have changed. I filed chapter 7 bankruptcy in 1998. My credit was awful and I had no other choice. The 1st 5 years was difficult..although I tried to look on the bright side; I couldn't get a credit card. In 2005 i did try a credit repair agency; Lexington Law Firm. They were pretty affordable at the time. I just sent them my credit report and they took care of the rest in about 8 months. To my surprise, they even deleted items that should have been on my credit reports. I don't know, maybe its easier to do it yourself these days..and maybe credit repair companies are bad now..but my experience was very positive..and because I used them..I was able to buy a house with good credit in 2006. by the way: it sounds like your credit problems are recent. you may want to hold off on trying to repair your credit report. I mean, if you get stuff deleted, and you have an open account..the companies can obviously still list that you are missing payments, etc.

6) Have seen lots of people asking info on bad credits. Well, if you need to get your problem solved onarrange loans or other finance, and usually means you will pay more interest on any loan you take out.

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