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This is the first time I have posted here so please be patient with me. I am finally in a place where I am able, and would like to fix my credit. I have several charge offs and delinquent accounts. All of them are credit cards with revolving accounts. My first question is, where do I start? I know that is a very broad spectrum question, but honestly it seems overwhelming and I am a bit lost. I would appreciate any advice.
Hi Tina,
Welcome to the forum. I can understand your situation. I hope you have checked your credit report thoroughly. How old are your debts? If those negative accounts are 7 years old, then they should fall off. In that case you have to dispute it with the CRA through a dispute letter. Find out if any of your debts have passed the Statute of Limitations, if so then you do not need to pay them anymore. If both these things do not apply to your situation, then I think you should start paying off your debts.
Try to strike a settlement deal with the CA or the creditor, whoever it is. Before doing it, calculate the amount you can pay to the creditors and accordingly propose an amount. You can write a debt settlement letter to them. If the reply is positive, then send a settlement agreement and a pay for delete letter requesting them to remove the negative item from your report against the amount you will pay.
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