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  1. #1
    Registered User New Member

    A little direction please?

    Hey everybody,

    I am new here and just not certain on where to start. The forums look so completely different from 10 years ago when I was here. I have no issue doing any reading and doing my own legwork for my credit. Can someone just direct me on where the appropriate forums or information is so that I can begin?

    I have several accounts in collections because I had gotten sick and finally received disability this year. I do owe these debts that are on my credit report and would possibly like to pay them off. However, I don't know the proper procedure in ensuring I am doing it right. I don't even know where to begin. I get letters in the mail offering me to pay a lower price. However, these accounts are so old that I don't even know if what they say I owe is correct.

    I guess my first question do I know what I actually owe?

    How do I know who to contact or if they can collect the money?

    When it says paid in full is that ok?

    I just don't even know where to start and I apologize if this forum isn't the right one. None of them looked right for my questions.

    Thanks in advance

  2. A little direction please?
  3. #2
    Registered User New Member
    Oxnard, CA
    This is a tough spot to be in--been there before.

    I would start by pulling your three bureau report and see what's actually on there. I've gotten letters from debt collectors 10 years after the fact for debts I settled previously. Confirm via your reports who the debt was sold to. Keep in mind they proly paid the original creditor 40%-50% of the value but will still try to collect 100%. This works in your favor when it's time to negotiate.

    Be sure to get any arrangement you negotiate in writing before you pay. Attempt to have negative annotations on your reports removed as part of the settlement.

    Good luck and remember, YMMV :-)

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