i need credit advice. i stopped paying some of my bills and have ruined my credit. how do i repair it?

Answer 1

Start paying something on the ones that you have not been paying. Call the companies and work something out, but you need to keep up with what you promise them.

Good Luck.

Answer 2

The first thing that I would do, is not get into anymore debt than you already are.

Secondly, I would get a copy of your credit report here http://www.annualcreditreport.com and see who and how much you owe. Then I would contact the creditors individually to set up arrangements on making payments.

Try to negotiate- see if they would agree to a "payment for deletion". It's a amount paid off to the creditor that in turn they will remove it from your report. The creditor may or may not do this, but if they're willing to do it, make sure that you get it in writing on their company letterhead before you send them a dime.

Thirdly, check these guys out. http://prbc.com/default.php?

If you still are paying some of your monthly bills on time, you can still have this reported as good credit, especially items like rent, utilities, cellphone, insurance, etc. that doesn't show on your regular credit report. The report is scored in a BPS or bill payment score that can be considered along with your regular reports. They've also partnered with a checkfree web, an online billpay service that automatically reports payments made through them, which I would strongly suggest that you pay ALL of your bills through.

Answer 3

The only way to repair your credit rating is start paying your bills on time each and every month.

Should you run into problems down the road, pick up the phone and let the creditor know what is going on. Follow the phone call with a letter to the credit manager of the company. Never ignore your bills.

Answer 4

1) Ask for credit reports from the bureaus.

2) Look out for any errors in it.

3) Prepare a Credit Dispute Log recording the details of problems and errors.

4) Contact telephonically the original debtors with whom you are having a dispute. Record the details of the call, especially the name of the person with whom you spoke and a brief overview of the agreements.

5) Send the certified letter to the original debtor.

6) Send letters to collectors, disputing the bill. Also, send the proof of payment to the original lender.

7) Fill out the dispute form available at the credit bureau.

8) Write a letter for each disagreed item separately and send it to the credit bureau by certified mail. Attach the proof to support your claim.

9) The bureau will provide you a reference number. Call up the bureau with this reference number and find out the progress of the matter.

10) Maintain a Credit File containing detailed records of your case.

Answer 5

Only time and a solid track record of timely payments will resolve your credit. If you're thining of using a "credit repair firm" think twice. These are rip offs. There is nothing they do which you cannot do yourself. Accept the screw up and know that within 18 months your credit will improve drastically so long as you make payments on time and do not open any new credit.

Answer 6

You need to visit a legit debt counselor because many of the bills probably have super high late fees and overdue % charges.
The counselor may get them closer to the original debt.
Get a 2nd job and pay off all the counselor gets the amount down to.
Good Luck,
The 2nd job will only be temporary , unless you get addicted to the extra $$$$$$$$$$ .

Answer 7

Consolidate with a program if you can - they can usually reduce/eliminate interest (though the accounts enrolled will be closed). Otherwise, start with one - pay what you can until it's done, then pick another.

Most places will place your account with a collection agency (enforcement varies by state) - many of them will send you settlement offers to take advantage of, usually just on the account principle without fees.

Answer 8

Start paying the bills. That is about the only thing that is going to repair it.

Find out what you owe and make arrangements to pay them.

Answer 9

start paying your bills and then your credit will be better..