My credit is terrible; about 20 collections accounts on my report. My credit scored is 486鈥攈ow can I repair? ?

Hello to all out there in Yahoo world. I recently had problems getting a car financed through a bank because of my credit. I had a 3k down payment and the best offer I ended up getting was going to be pay 450/monthly for 36 months on a used car with low mileage. So I ended up going to a buy/here pay/here lot and got a car攖hat檚 a story on its own! LoL.



I檓 currently 23 years old and am about to go back to school. I really want to get everything straightened out including my credit. My credit score w/ transunion is 486; I have about 20 charged off/collections accounts on the report. 2 of which are credit cards that were charged off well over a year ago (closer to two) I set up an arrangement to pay on one of those and will have it paid off in November the other I disputed for inaccuracy. I had 4 student loans that were charged off on my report, which in actuality should not be there because I paid those off in Jan, so I disputed those as well. Everything else seems to be medical and utility bills攚hich I disputed to.



I was extremely irresponsible and didn檛 use credit wisely. I檇 get those credit cards with 300.00 limit which had 250.00 in charges by the time I got them擨檇 spend 50.00 and let them fall into collections. This is by no means something I檓 proud of and am suffering for it now. I really want to get all this taken off my credit report擨 was told once to dispute every charged off account on my credit report before paying anything so that檚 what I檓 doing.



I檝e been trying to get a credit card to build up my credit. I was turned down from all the ones that usually give people with bad credit a card (first premier, centennial, cash yes, salute, ect) I was approved for a secured card w/ Orchard Bank so I paid them 200.00 and should have a card from them soon. Will this help my credit at all? What can I do? I have almost 6k in charged off accounts. I want to open a salon at some point and really need to get my credit straightened out.

My credit is terrible; about 20 collections accounts on my report. My credit scored is 486攈ow can I repair? ?
Open a savings account with a credit union and get a loan from them to clear off some of your debts.



Needless to say pay off all debts in time.



One small thing that I see helps a lot of people is, taking out post paid phones that do report to credit agencies. You can check with T-Mobile or Verizon for this. If at all they let you have a phone that is.



You may want to try to get utilities on your name too, so that you can pay up and build some points there too.



All the best for your salon dude. My credit is terrible; about 20 collections accounts on my report. My credit scored is 486攈ow can I repair? ?
PAY EVERYTHING ON TIME.



That means every penney .
Hint: buy a $3000 car.



Stop obsessing over your ';score';. It's bad because you did not pay your bills. Borrowing more money won't fix your problem. Paying off your obligations will fix your problem.
Get collections removed from your credit reports by disputing them. I raised my score over 200 points.
The best thing you can do is get a bank loan. Obviously, it would be difficult to do with your credit, but you can get a secured bank loan. A bank loan has a stronger standing on your credit then a secured credit card which basically does not add anything to your credit worthiness. I used a strategy I found in an article: http://www.ehow.com/how_4492319_start-credit-score-range-quickly.html



I also had poor credit and have seen a significant jump since I took out a couple of secured loans. Bank loans always carry more weight on your credit report and will help you fix your credit faster.
Credit Repair Sample Letter 1



Under section 611(b) of the Fair Credit Reporting Act, I am requesting the following consumer statement be inserted in my credit report exactly as I have written it:



';I dispute the fairness of the late payments being reported on the [name of creditor] account. These late payments are the fault of [name of creditor] that habitually mails my monthly statement to me after the date payment is due, if it bothers to mail me a statement at all. Because I do not receive my billing statement in time and sometimes not at all, I have had no choice but to make payment after the due date. For this reason, there are numerous late pays associated with this account that are no fault of mine.';



Please send me an updated copy of my credit report once the above statement has been added to my credit report. Thank you very much.



Credit Repair Sample Letter 2



Under section 611(b) of the Fair Credit Reporting Act, I am requesting the following consumer statement be inserted in my credit report exactly as I have written it:



';On [date] I was laid off from work while employed at [name of employer] due to [reason why laid off, e.g., company downsizing, etc.]. As a result, I fell behind paying my debts. I found employment on [date found employment] and began catching up paying my delinquent debts. My overall credit report shows an excellent payment history. If it weren't for losing my job, I would still have a good credit rating. I believe the late payments associated with the [name of creditor] account are not a true reflection of my creditworthiness.';