I am some serious need of advice....
I am young...21 years old. I went through a very irresponsible phase a few years back and lost my job and had a very hard time making payments on any of my bills.
Now, I am in a relationship getting ready to move into a new house (purchsed only in my boyfriends name)... just to see, i ran a credit report.
I have several accounts either in collections or in charge off status. they total up to about $9,000. There are several small accounts that can be paid easily with just one or two paychecks, but there a 2 in particular that would mean making a payment plan. Now i was aware that these had not been paid... and just kept putting them off and now its come down to this.
To build my credit about a year and a half ago i took out a loan againt my car.. only for about $1400.... only two months after that i lost my job and was not able to make any payments.... let it go until now. (dumb,I know) Now, I have been served with papers by the credit union I went through.... ALSO, there is a $2000 debt owed to a tech school I attended around the same time, and was not able to make payments... this account has also had papers delivered to me, but not directly to me (I never recieved those... it was a judgement by default) then i broke a lease 2 years ago because i couldnt make rent and got another $7000 debt.
Now, Ive worked through my finances, and it would take me a year and a half to pay all these completely if the creditors were to allow me to set up payment arrangements. My boyfriend thinks that i should file bankrupcy instead.
are these two accounts ( the ones that i have been delivered paper for) too far out for me to set up payment arrangements? Is filing bk the best bet for me/.... or should i just pay? what would look better on my already shot credit score. (i didnt really have acny credit established period before any of this began... so i really have no credit.... a score doesnt even come up on a report. wouldnt it be better for me too pay off and for these accounts to show up as paid collections on my report rather than bk?? and then build credit from there (with the help of my boyfriend and secured credit cards- pay $500up front... then pay off everything i charge at the end of the month?
Help me.
I am young...21 years old. I went through a very irresponsible phase a few years back and lost my job and had a very hard time making payments on any of my bills.
Now, I am in a relationship getting ready to move into a new house (purchsed only in my boyfriends name)... just to see, i ran a credit report.
I have several accounts either in collections or in charge off status. they total up to about $9,000. There are several small accounts that can be paid easily with just one or two paychecks, but there a 2 in particular that would mean making a payment plan. Now i was aware that these had not been paid... and just kept putting them off and now its come down to this.
To build my credit about a year and a half ago i took out a loan againt my car.. only for about $1400.... only two months after that i lost my job and was not able to make any payments.... let it go until now. (dumb,I know) Now, I have been served with papers by the credit union I went through.... ALSO, there is a $2000 debt owed to a tech school I attended around the same time, and was not able to make payments... this account has also had papers delivered to me, but not directly to me (I never recieved those... it was a judgement by default) then i broke a lease 2 years ago because i couldnt make rent and got another $7000 debt.
Now, Ive worked through my finances, and it would take me a year and a half to pay all these completely if the creditors were to allow me to set up payment arrangements. My boyfriend thinks that i should file bankrupcy instead.
are these two accounts ( the ones that i have been delivered paper for) too far out for me to set up payment arrangements? Is filing bk the best bet for me/.... or should i just pay? what would look better on my already shot credit score. (i didnt really have acny credit established period before any of this began... so i really have no credit.... a score doesnt even come up on a report. wouldnt it be better for me too pay off and for these accounts to show up as paid collections on my report rather than bk?? and then build credit from there (with the help of my boyfriend and secured credit cards- pay $500up front... then pay off everything i charge at the end of the month?
Help me.
