Ok so I'm bouncing back from being unemployed forever and trying to get a hold of my credit back. I just paid for a triple credit report monitoring which showed me all three scores and reports
I'm at a 530 :(
My debt has a couple of collections from sprint, 1 medical, another random
combined under $800
I have 3 credit cards
BOA military credit card- $3,800
Barclays - $1,200
tire's plus charge card $1,200
All of these accounts are past the 180 day mark
now that I'm working in about a month I should have enough to pay most of this if i settled. But I'm wondering what my best course of action is.. I've been researching this site, very excited about the PFD sample letter. How often does that work?
Is there anyway I could possibly have BOA re-open my credit card if i agree'd to pay?
Guess what is my best course of action
Thanks
debt collections
Hi Branden,
Welcome to this community :)
I've been researching this site, very excited about the PFD sample letter. How often does that work?
This does work for some. Actually. this depend son the creditor or collection agency with whom you are negotiating. As for the letter, try writing one of your own. You can use the sample PFD letter available with this forum, but change the wordings.
Is there anyway I could possibly have BOA re-open my credit card if i agree'd to pay?
Yes, you can talk to Bank of America (BOA) about the account. Request them to reopen the account, and set up a payment plan with them. Get the agreement in writing.
Other than paying off all your debts, and doing the PFDs, get a secured credit card. These are easy to get even if you have low credit score. Use the card to make small purchases from time to time, and then make on-time payments on this card. This will help you in improving your score.
Thanks,
Aaron