Help! I want to repair my credit!

[Malena]

My credit score is bad and I would like to buy a home. I got a credit report, should I start making payments on the companies that were on my credit report or do I have to call them up to make payment arrangements? Please help. I can't get anything in my name and I am soon to be married which I know will effect my fiances credit. Any advice? Is there any services that help you for free? Websites?

[Kathy A]

you can do it yourself...pay off your credit cards in full, do NOT get anymore credit. Get your copies of your reports and make sure they're correct. Clean them up yourself. (it's free...) The fewer credit cards you have the better, try to get it down to 2 max. Make sure your car (if you own one) is up to date on payments...that goes for all your bills. If you need to make arrangements for smaller payments, do it yourself. (don't pay for something you don't have to.)

[smile4cobra]

Ok first things first. Check to see what the statute of limitations for credit reporting is in the state you live in. If it is past statute you can report it to all three major credit reporting bureaus and have them dropped off.Also dispute anything that is not valid, correct or was not of your doings. If you have anything on there that you didnt do...file a police report and forward a copy to the creditors and bill collectors.If they are not past statute and are valid...you need to get them paid. A credit institution will charge you money to do the same thing you can do. Start by calling the collection agency try and cut deals to settle the accounts. Some agencies will take as low as 30% to settle. Others will request more. Very rare but some creditors will not accept a settlement at all. Try and make them to agree to delete from your credit report as well. Some agencies may require that you pay the entire balance for them to delete it. Others will agree to delete with the receipt of the settlement amount.Get the deal in writing before you pay and than more on to the next one. One by one...next thing you know its done.Good Luck.

[shayne54]

Originally Posted by smile4cobra

Ok first things first. Check to see what the statute of limitations for credit reporting is in the state you live in. If it is past statute you can report it to all three major credit reporting bureaus and have them dropped off.Also dispute anything that is not valid, correct or was not of your doings. If you have anything on there that you didnt do...file a police report and forward a copy to the creditors and bill collectors.If they are not past statute and are valid...you need to get them paid. A credit institution will charge you money to do the same thing you can do. Start by calling the collection agency try and cut deals to settle the accounts. Some agencies will take as low as 30% to settle. Others will request more. Very rare but some creditors will not accept a settlement at all. Try and make them to agree to delete from your credit report as well. Some agencies may require that you pay the entire balance for them to delete it. Others will agree to delete with the receipt of the settlement amount.Get the deal in writing before you pay and than more on to the next one. One by one...next thing you know its done.Good Luck.

Bad credit will stay on your credit report for 7 years unless you get it removed. It doesn't matter how long the statute of limitations is for your state. The statute only matters as far as how long some one can take legal action towards a debt. I would say dispute, dispute, dispute. Most of the items will be off your credit report in 3 - 4 months that way. DON'T FORGET TO OPT OUT FIRST!