2 Questions about DIY Credit Repair
November 9, 2012 8:05 PM Subscribe
I used to have great credit, but because of travel and whatnot, I developed a bad habit of blowing off bills and then doing total payoffs. What was fiscally sound for me at the time wasn't doing me any favors regarding my credit rating.
My rating sucks now but I'm prepared to work on it...please help me figure out the best course of action.
posted by snsranch to Work & Money (2 answers total) 2 users marked this as a favorite
1. How do I get the rating agencies to eliminate entries for debt that was paid off many years ago? (I usually pay off early to avoid paying so much interest...that seems to be detrimental to my credit rating.) I've googled it up but there doesn't seem to be a solid consensus.
2. I have long outstanding debt to two companies. I don't know if the debt has been written off or not, but in both cases I told them that I would pay my debt but not on their exasperating -probably illegal- terms. I can pay them off in full OR negotiate. My question is; can I negotiate to at least eliminate all of their extraneous fees and penalties which at least doubled the owed amount? Is there any precedent for this?
If not, that's OK. I'm prepared to do what I have to...I'm not a dead beat and never intended to be one, but at the time I felt bullied and had no recourse.
Many thanks in advance and thanks for helping me put this behind me!