I have about 7 open account ranging in amounts from 500$ to 3000$ they are all about 5 years old. What is the best way to handle this? Is it better to leave them alone and wait for them to fall off or contact the collectors and make payments? I want to start working on my score i jus dnt know where to start.
Hi. I'm in a similar boat. I had all my debt in a Ch. 13 Bankruptcy where I paid $610 biweekly to pay my debt. After a year and a half, I couldn't afford it anymore. My case was dismissed. Now, all my creditors are sending my accounts to collection agencies. I took the plunge and went to some of the collection agencies websites. They offer affordable payment plans and some would settle the debt for less. After I pay pay off some of my current bills, I might try one of their options.
If you’re not in a hurry just wait. Don’t talk to collectors and if u do be straight up and tell them you’re not paying. If u make any payment to them it will restart the 7 yrs. I successfully disputed 8 accounts off of my report on Credit Karma. If you have any medical bills in collections they are the easiest to dispute because the collection companies have a hard time getting original info because of HIPA laws.