Question by Stone C: How to repair credit in my case?
Currently my credit score is very low as i did not make any payments since1999 and so on because of which 3 of my Credit Card companies charge off, reported loss or Cancel/Closed the accounts, and they in turn sold them to Collection companies who are reporting them every year to the credit bureau, by which my account looks so bad most recently they reported in December 2005, I know it’s my mistake and i want to repair it, Some one told me that even if i repay the whole thing still it does not help me as the history of past 5to6 years still remains the same in you history is their any other way which helps me in repairing my credit, Please advice me a good solution.

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Best answer:

Answer by JW
you can’t fix old stuff. you can only change it by adding good new stuff & not adding bad new stuff.

by paying off the balances, the collection firms will stop reporting the debts to the credit bureaus (& stop hurting your credit). THen, over time, the existing bad stuff will fall off- but only over time. After a while, creditors will begin taking chances on you. As long as you pay according to your agreements, they will add new good stuff (which will help your credit.

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