I Was Told Not to Pay My Default Debts But I Want to Rebuild My Credit. – Leonard

“Dear Steve,

I’m turning 22. I have defaulted student loans, several phone bills that went into collections, a credit card that went into collections and also medical bills that are soon to go into collections.

I’ve finally been able to secure a decent job, and I want to start rebuilding my credit … my score is horrible, in the low 400s and I want to see it reach at least the 600’s in 2-3 yrs. I want to know if that’s possible, and what steps I should be taking to do so. My house is owned (left to me by my father), I pay property taxes annually. My car is also paid for… My total monthly expenses are somewhere in the 600 dollar range. I just want to do better, prepare for a family etc. Any advice on the matter is much appreciated.

Should I repay all my past debts that went into collections, I’ve been advised not too. Obviously, getting current with my student loans is a good idea. Secured credit card, etc. I’m looking for good ideas, so I can build a solid game plan.


Dear Leanord,

Congratulations on the new job.

Whoever told you to disregard the collection accounts gave you bad advice. Let’s deal with those first. You can identify them with a consolidated credit report and then use the correct secured cards to rebuild your score.

Please post your responses and follow-up messages to me on this in the comments section below.


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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1 thought on “I Was Told Not to Pay My Default Debts But I Want to Rebuild My Credit. – Leonard”

  1. At the age of 22, those debts must be very new and will remain on a credit report for 7 years. 

    The only sure way to improve Leanord’s credit score is to get the collection accounts current. Taking money that could repay those debts to open a new credit account takes resources away from this objective. 

    The positive points of using a secured card will be overwhelmed by being delinquent. I would open the secured card after first getting current on the other debts.


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