Rebuilding credit?

Question

In 2004 I filed Chapter 7 and after it was did charged I got in an motor vehicle accident and all my bills went behind and I had about $80,000.00 in medical bills i'm now just getting back to work and want to try to rebuild my credit,i have charge off,closed accounts,delinquency on accounts,write off and about 60 accounts,i have sent letters offering a settlement offer for those accounts but, there are alot of accounts,i dont think what i sent will be accepted but thats all i have what do you think is the best way for me to rebuild my credit?Will paying almost all the negative help my score come up?

Answer 1

Yes, paying the negative will help...here are some more ideas!
There are several ways.
1) go to www.annualcreditreport.com and obtain a copy of your consumer credit reports from each of the 3 major National credit bureaus (TransUnion, Equifax & Experian) for free once a year. This way you can compare the 3 bureaus against each other. Not all companies report to all 3 bureaus, so each report WILL be slightly different. For example: Ford Motors may report to all 3 bureaus, but Nordstrom may only report to 1 or 2.
2) Look for things that are incorrect and dispute.
3) Pay off all collections & public records (tax liens, civil judgments, etc)
4) Pay your bills on time.
5) Keep your balances at less than 60% of your limit
6) Close some of your cards that you are not using. Having to many cards with a $0 balance is potential for spending.
7) If you consolidate your cards to 1 with a lower interest rate, keep an older account open so that it shows longevity.
***Your score is based mostly as follows:
Payment History 35%
Amounts Owed 30%
Length of Credit History 15%
Types of Credit in Use (dept store, gas card, mortgage, etc) 10%
New Credit 10%
***These are just a few ideas. Because you pay off one card, your score is NOT going to jump 20 points. Raising your score is a slow process.

Answer 2

of course but it will probably take a while to pay off all that money. If all of that is medical I don't see why no one will help you. At one time I had a big hospital bill that I could not pay. I wrote a letter to the hospital explaining that the bill was a hardship on me and a few days later I got another bill and they had reduced it by 50%.

Answer 3

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Answer 4

Yours is a complex case; I advise a combination of debt settlement and credit repair. With 60+ accounts, you will not have time to deal with all of these. Credit repair specialists can be hired inexpensively and debt settlement usually works for a small % of what they save you.

Answer 5

if the account is more then 2 years old paying dont help. they have done there damage. anything newer than 2 years will help

Answer 6

www.creditinfocenter.com