Quick Answer: Fixing credit scores requires cleaning up delinquent accounts and establishing new current credit reporting rather than simply removing old negative history. The most effective approach involves paying outstanding collections accounts and then building positive payment history to pull scores upward.
Question:
Dear Steve,
I need help with my credit history and payments.
I contacted the credit collection companies and started paying on some outstanding accounts.
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How can I get my credit fixed and remove these accounts to be able to raise my credit score?
Sonia
Answer:
Dear Sonia,
This recent podcast talks specifically about how to repair your credit and make it shine again. You can read the podcast transcript here.
Listen to the Podcast
Easiest way to listen – Say “Hey Siri play Get Out of Debt Guy Podcast” or “Hey Alexa play Get Out of Debt Guy Podcast”
Easiest way to subscribe – Say “Hey Siri subscribe Get Out of Debt Guy Podcast”
Fixing credit is not about removing old negative history but more about cleaning up delinquent accounts and then having new current credit being reported to pull your score up.
Know Your Rights: If a debt collector is contacting you, you have legal protections. See the complete list of FDCPA violations collectors commit most often. Use the free Debt Validation Letter Generator to demand proof of the debt, or check this collector’s complaint history with the Scam-O-Meter.
Dealing With Debt? Before you pay a collector, understand all your debt relief options — including ones the collector won’t tell you about. If the debt feels unmanageable, take the 2-minute bankruptcy quiz to see if the math favors a fresh start. Federal Reserve research shows filers recover faster than those who don’t file.
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