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I am a college student and I have about $2000+ in negative credit. I want to fix it, but I don't have a job. I was told that I can pay each collector a dollar to start the process, is that correct? How can I get this taken care off quickly? It is two medical bills, a bank card, and a cell phone. I also want to get an apartment, will I be able to get one with bad credit? It will be my first time getting an apartment. I believe my credit score is a few points from 600.
What is the minimum amount I can give collectors to help pay
No, this is not correct. If it is not possible for you to pay the debt in full to the collector, then you may go for a settlement with them. If they agree with your proposal, than you can payoff the debt as per settlement. After repaying the debt, you may request your collector to remove the negative items from your credit report and update your account status, as “Paid-as-settledâ€. As your credit score is very low, so it may be difficult for you to get an apartment. You can apply for a secured loan whose interest rate is lower than the unsecured loan.
I have read your case details and I suggest you should ask an expert to confirm your information and promise to pay him later. I think he will guide you properly and accurately.
credit
SALLY is correct!! See if you can make arrangments with the creditors. If you make arrangments, they will probably ask you if you have a bank account that they can debit the debt from. (Just some 'personal advice' here..) I wouldn't give your personal information out to anyone!! If arrangements are made between you and the creditor, you may want to send them a Money Order and send it 'certified mail'. Have you looked at you CR to see how old these debts are?..the SOL in your state? If the debt has been on there for more than 4 years, the creditor can't sue you. And, if the debt has been on there for that long, don't try to make arrangments of any kind..WHY??.....because you will be 're-starting' the debt (which means you are 're-starting the SOL time on that debt) and that's something you don't want to do. Usually debt stays on your CR for about 7 years. If you look on your CR, there are 'fall-off' dates for each bad debt (which means that bad debt should come off your credit by that time). If you doesn't, you can dispute the item, with the CRA's and have a very good chance of gettin it removed. :)