I bet you had a good time in college, but now you are becoming a young woman and realize their is a road ahead. Don't put down on yourself, everyone has credit problems at least once in their life. I have been there too.
As you stated you are still getting letters from those darn creditors. The reason why is when you don't pay, the lender will sell your charge off to creditor for a percentage of the outstanding amount. The lender gets part of their money back and the creditor trys to collect on the debt. Now lets call him Creditor A. After about a year when he realizes you are not going to pay he will sell it to Creditor B and your phone starts ringing again and you start receiving letters in the mail. This process can go on for years.
Now I will not lie to you. The student loans they seem like you can never get them paid off. But if you just continue to make the payments on them every month your score will increase. I will show you in a minute how to get them paid off. You will also need to go ahead and pay off those outstanding debts, but you don't necessary have to pay them in full. The resource below provides good information for getting out of debt and repairing your credit.
Once you have those chargeoffs taken care of. You should then be ready to buy a house with that man or woman of your dreams (not sure where you stand and don't need to know). Once you get that house note going, you should get a home equity loan to pay off those student loans. You will get a tax credit on the interest of the home equity loan and trust me it will seem a lot easier to pay.
I encourage you to push forward and look at the resource below for some great information.
The Best of Luck!
http://www.your-credit-solution.com provides simple solutions for credit repair and getting out of debt.
· 1 decade ago