Question by quiet.chaos: Fixing my credit. I have a question about repairing credit.?
My husband and I fell into some bad times and for the past 8 months we have not been able to pay on our debt. We had to prioritize our bills and unfortunately, the only bills we have been able to afford have been the mortgage, car payments and insurance. And even those are all one month behind. Our credit has taken a huge hit. From the low 700’s to the low 400’s. We have lapsed on all credit card bills, loans and payments of any kind. NOW….things have changed. My husband has been promoted with a HUGE pay increase. Enough to catch up all bills and start paying off debts. I have two questions: First, is it better to repair credit by paying off the collection companies with a discount or pay the lender/credit card directly? Second, how long would it take to restore our credit if we catch all of our bills up and pay off debts we owe?
Any advice would be great. Thanks!
Fast Credit Repair
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