where to start when paying off credit debt? how do I find out who I owe etc?

Question

I just turned 22 and I want to rebuild my credit. I got into a bunch of debt (approx 6-8k) when I was 18 and I owe several creditors but I am not sure who all I owe and what the amount is. I have no idea where to start but I am just now starting to save my money to pay this off.

Please help me out I am so lost! :(

Answer 1

Pull a copy of your credit report.

Answer 2

Start here: www.annualcreditreport.com (it's free, and no 30-day trial)
View all 3 Credit Reports, Equifax, TransUnion, Experian.
You will likely see some very bad information about your past due accounts. The fact is though, that you have probably done the maximum amount of damage already. You may try to contact their credit departments and see if they would be willing to alter/adjust the bad info on your credit file in exchange for an updated payment schedule. Get other inputs, but it's possible that you could pay all the debt in full tomorrow, and still see no improvement in your credit score. This is a very important issue for you, pls don't only take the advice of people on this site, ask professionals, email Suze Orman, make certain that you're following a good plan.

Answer 3

Get a credit report. It will list all the companies you have had credit with and tells how much you owe each one. Contact your creditors and tell them you would like to start making payments, and then do it! Sending a little is better than sending nothing. Try to negotiate a lower interest rate. If you have a job, you might be able to get a debt consolidation loan from your bank or credit union. Once you are debt free remember to never charge more in one month then you can pay in one month.

Answer 4

rather stable solutions Your project isnt the debt, it extremely is the form you handle you cash. while you're making 2600, your hire won't have the capacity to be with the aid of any skill 2200. What do you consume? motor vehicle insurance? Emergency fee reductions? .... First you're able to cut back your hire with the aid of 7-hundred or so. hit upon a good place that has each little thing blanketed. once you flow to the food market have a value variety. do no longer endulge or overspend. Open an oline fee reductions money owed and placed 20 for now each month. Dont say you cant, you could. AH btw, the certainty you have money owed has no longer something to do with fee reductions.... you prefer greater money, get a greater suited activity, or a 2nd activity. in case you have no longer paid previous due interior the previous, so as to rescue that credit and do away with that debt you prefer an extremely agressive plan. minimum money wont do, activity will consume them. Why in the worldwide you pay lots on friggin hire??? Are you working a bussiness from which you're making all you cash??? if so you're able to get one or 2 universal jobs and cut back the hire money to stay to tell the story. think you prefer month-to-month 850 a month for hire (utilities blanketed) this may be even seven-hundred. 80 a month for meals, asumming you be attentive to a thank you to cook dinner and strech the greenback. a hundred thirty for motor vehicle insurance, = low credit 60 = cell telephone 2 hundred miscelanous expenses = gas, etc a month = entire 1260 a month to stay. if your activity promises 2600, wich is approximately 20 an hour, and you get a ingredient time for 10/h that provides you with at leasts 1000 greenbacks better, which would be 3600 a month - 1200 = 2400 to pay to your money owed You owe = 30890, Your debt to credit ratio sucks so which you cant ask for greater. forget approximately 0 % promises. So, Pay those 1300 first all of sudden to advance your credit slightly. Then pay the different enjoying cards. do no longer INCURR ANY NEW DEBT. in one 365 days you're able to be debt loose = 30890/2400 = 12.87 = one eyar aprox.... in case you additionally can earn greater money or borrow out of your mom and dad you're inspired to attain this.

Answer 5

First you should get a copy of your credit report (preferably from all three reporting agency) and then determine if the information is correct before just paying it. You can dispute the information if you feel that it is incorrect. You can also contact your debtors and try to reduce the amount that you pay them. A lot of times they are willing to take half so that they at least get something. Do not mention to them that you have saved up money to pay them off, they WILL try to take advantage of that information. Just tell them that you are trying to pay back your debt and want to know if they are willing to work with you on payments and amount owed. Sob stories help, but don't get too carried away. Best of luck!!

Answer 6

Go to the Federal Trade Commission website. www.ftc.gov You can obtain a "no charge" copy of your credit reports once per year. Get all three. Contact the creditors and arrange payments.

Don't pay for a credit report, they're free once per year. Don't go thru credit servicing or companies that will "cure" your bad credit. Do this yourself, most of these firms are scams and schemes that are usually bogus.

Go luck, get out of debt, stay out of debt. see www.daveramsey.com

Answer 7

Step one is to get serious. Gather all your bills and financial information and make a list of exactly what you owe and to whom. Then figure out how much money you're making every month and how much you're spending. Cut your expenses so you have some money left over. Put that left over money towards your smallest debt every month until it's paid off. Then take all the money you were paying towards that card and pay off the second, third, and so on. When you have no more debt, put all that money into savings. When you have 3-6 months of expenses in savings, invest your money with a stock broker.

Answer 8

got to https://www.annualcreditreport.com and get all three copies of your credit report. Sometimes they only have a phone number sometimes they only have an address. But usually you can get all the info you need to get in touch with your creditors.

The advice on this website gives great information for dealing with creditors and setteling your debts...and it's 100% free.

http://www.creditinfocenter.com/rebuild/

Answer 9

The easiest way is to get a free credit report, they have access to your creditors, you can find these on-line. Type in )free credit report), on the search window. They really are free!

Answer 10

You are on the right path by paying off your debt. I found a website I use often and it offers a free credit repair ebook. You can check them out at http://www.your-credit-solution.com . Their ebook explains everything you need to know to get started onto the road to recovery. Good Luck. ;-)