how can i rebuild my credit?

Question

would i need to pay all d credit card bills in collection or there is a way around it

Answer 1

Don't start at credit counselling. This will look like a chapter 13 bankruptcy to many lenders if they view your credit report. There are many ways to fix your problem including debt settlement, credit repair, refinancing if you own a home, or some combination of these.

Answer 2

My experience with credit card debt may help you. I cut up all of my cards but two. I then put those two in my nightstand. I was already paying minimum payments for a couple of months. I decided to start making a couple dollars more on the smaller balances until I paid them off. Then I had more to pay on the bigger balances until I had them all paid off. It took a few months before I saw the rewards. Soon I had extra money leftover after paying bills. Now I could pay cash for my purchases. I now own two homes and two pieces of property in another state. I am planning on purchasing a third. I am 52 years old and I travel, not work in a job I hate. So cut up those cards. Credit is over rated.

Answer 3

Credit history is a tricky thing to fix. No, you do not have to have all credit debt paid, however, you will need to call all of your creditors and make arrangements to pay. Most creditors will work with you. Ask for lower rates and or smaller payments. Once you start showing on time payments to all creditors, then that will show in your credit history. There is also debt relief services out there to help. Make sure you research them before signing on the dotted line.

Answer 4

you should go to a credit conselling place. look in phone book for them . they can arrange things with companies such as having you pay back the money on a credit card and do it with little or not interest . if its worse then that they can make deals with the people if you owe 1000 here they might get the amount you have to pay back down to a fraction of that.
they will tell you some other things you can do to repair or reastablish your credit .

Answer 5

i suggest you get a credit card and keep it for a year and make purchases with it..
when the bill comes IMMEDIATELY pay them!
don't let them get over due.

after a year you should have a good rating.

make larger purchases if you want it sooner than a year.

Answer 6

Here's a resource for credit building etc which are very useful to me, hope you'll find them helpful too

Answer 7

yes you really need to pay them off. that really is the only way to have good credit.