Question please help

[KristiWC]

Hey everyone I'm new to credit repair. My husband and I are wanting to purchase our first house in the next 6 months to a year and I pulled our credit reports and there is work that needs to be done. I'm wanting to make sure I do this right instead of hurting it even more. Question is on the negative and charge offs do I pay them off to a 0 balance? Or do I just pay the monthly payments? All of them have no past due's I paid all of the past dues. This is very confusing and I want to make sure I am helping my score and not hurting it. Thanks bunches

[chane]

If the account is in charge off status, it is already negative. By paying it off, you will make it a "paid charge off" which is obviously better than an "unpaid charge off", but it is still negative and will re-age the account, making the account current like it just happened...which will lower your scores.

The best thing you can do is have the charge offs and any other negatives removed, besides late payments. For late payments, you want them changed to not late. You can do that by disputing them or by doing what is called a pay for delete.

You can start by learning the credit repair process here:

Basic Step by Step Beginner's Guide to Credit Repair

Learning takes time. You don't want to take action until you completely understand what you are doing. If you prefer to hire a professional credit repair company to do it for you, go with Lexington Law.

[diggingout1]

Kristi -

I agree with Chane. Try the PFD route. Are these medical collections?

These boards are a wealth of information. I have raised my scores over 100 points (in the last 6 months) by listening to the advise of those here...

[KristiWC]

Thanks Chane and diggingout1. Yes there is some Medical Collections and some Credit Cards this website is very good and I have been researching for the past 3 days on what needs to be done without any harm to my score as it is.

[KristiWC]

Hey guys just wanted to update my thread. I have paid off all of my accounts and left 2 loans on our reports the 2 loans is a car loan and motorcycle loan which are in excellent standing, now just waiting to see how much it will jump hubs score... wish us luck Also wanted to add I have been going to my Credit Union for guidance and also what will be our Mortgage Company for help and along with this website I think Hub and I stand a chance now.