free credit counseling advice?
Jan 17, 2009 Credit Advice
I need advice what to do. I have about 9 bad credit charge off's that affect my credit score negatively. Some of them I have paid off partially, some not yet. I am wondering if I should contact credit counseling for advice on how to imrove my credit score-will that help?
Most of these accounts should come off in a year or two (it willbe seven years), but I need to find out those that are not payed what will happen to them? Can credit counseling help me with this?
The best thing to do is to NOT do anything on those accounts that are going to reach 7 years soon. Paying them will actually be worse for you, because it will prioritize that account to recent again from the recent activity (paying it). The older negative accounts are the less it impacts your score. If you pay it, it is no longer old, it is something you're dealing with now.
Credit counseling isn't going to help. The only thing you can do is to wait til those negative accounts fall off your credit. Unfortunately, these mistakes do stick around for a long time. Make sure from now you don't pay anything late, and don't let anything go to collection or charge offs.
The only thing you can do besides waiting is to continually write these companies you have negative accounts with and tell them you have no clue what the debts are and how it got there and request proof. If they fail to locate your information or even fail to answer you in 30 days, they will have to delete the item completely off your credit. There is a decent success rate with this.
Credit counseling will also hurt your credit.
Hope this helped.
January 17th, 2009 at 9:24 pm
Charge-offs will COMPLETELY fall off your credit report after 7 years…as this is the max. amount of time they can stay per the Fair Credit Reporting Act….This applies to both paid and unpaid charge-offs…so your unpaid charge-offs will fall off your credit report too…
References :
January 17th, 2009 at 10:04 pm
The best thing to do is to NOT do anything on those accounts that are going to reach 7 years soon. Paying them will actually be worse for you, because it will prioritize that account to recent again from the recent activity (paying it). The older negative accounts are the less it impacts your score. If you pay it, it is no longer old, it is something you're dealing with now.
Credit counseling isn't going to help. The only thing you can do is to wait til those negative accounts fall off your credit. Unfortunately, these mistakes do stick around for a long time. Make sure from now you don't pay anything late, and don't let anything go to collection or charge offs.
The only thing you can do besides waiting is to continually write these companies you have negative accounts with and tell them you have no clue what the debts are and how it got there and request proof. If they fail to locate your information or even fail to answer you in 30 days, they will have to delete the item completely off your credit. There is a decent success rate with this.
Credit counseling will also hurt your credit.
Hope this helped.
References :