I’m 36 and I got credit cards for the first time at age 27 in 2004.
I had pretty low limits, 1,000 or less on the 3. I lost the security of my job and got behind on payments, then eventually stopped paying and everything went to collections in 2007.
I’ve managed to pay off all my student loans but now this cloud of debt hangs over me and it is a small amount, less than $4,000- It’s embarrassing to be in this situation.
I have not made any agreements to pay anything since before April 2008, when I move to another state and got married- the delinquency was first reported in 8/2007. what steps should I take to rebuild credit?
Do I Pay off the debt, which will take about 8-12 months with payment arrangements, or let the bad reports fall off my credit report in 2014 and get a secured card to build up my credit during that time? I’d like to have a high credit rating by the time I’m 40 and get on track to own a home.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Should I Wait to Rebuild My Credit or Start Now? - Renee by Steve Rhode