how do you get your credit back up and a credit card out of collection and what happens with collection?

Question

hi im 21 years old and have bad credit. I decided im going to still go to school and since i cant get a private loan. i will get a gov. loans. Do you know how much loan money i can get from the gov. I got my credit score today and it is 559. im trying to raise and i have one card that is in collections. i dont know what they do when they are in collections and how to i make payment arrangements with them. The credit card company wont work with me. I have tried. so what do i do?

Answer 1

First, do NOT give the collector posted date checks or access to your checking account under any circumstances. You need to remain in control.

Second, it sounds like you need to stop borrowing money. You say that you have bad credit, but still you want to borrow money. This tells me that you don't know how to handle money. You need to learn how to handle money and get your debt paid off.

Third, the credit card companies will work with you. You need to send them some kind of payment. This will show that you're making an effort to repay them the money that you owe them.

Finally, consider taking on extra jobs to pay for college instead of borrowing money. Investigate other schools that might be less expensive.

Where you go to school doesn't really matter (as long as they are accredited). What matters is that you have a degree.

Please don't sink further into debt just to finish school. You'll be paying on student loans forever.

Contact me directly if you need specific help paying off debt. I've been counseling people for 2 years now and have helped several families/individuals get out of debt.

Scott....

Answer 2

There is just a little little bit of incorrect information right here first if the debt has been bought to a set company the normal proprietor of the debt can't, and won't receive fee, it's not theirs. Second a FICO ranking of 447 isn't prime it's on the backside of the record because the lowest is 350. So the query is do you play hard sure pays 70% and you're taking it off or the heck with you are going to no longer pay. Either manner your credit score ranking will likely be broken and no longer so much you'll do to rectify it, within the brief time period. Myself might take the hit for a yr untill they arrive round and say sure will dispose of it as this is a new assortment they've time on their part. If the calls grow to be worrying as they'll simply request all communique is finished in writing