"Credit Clean Up" Advice Please?

My credit is very bad, and my score is somewhere in the 400%26#039;s, close to 500.

85% of my credit is unpaid hospital bills totaling about $15,000. The rest is an old utility bill ($500), and a I owe a bank ($300)

I have never had any bankruptcies, foreclosures, credit cards, repossesions, evictions, etc.....

What would you suggest I pay off first to get my credit score up? Some people say hospital bills aren%26#039;t that important, but they must be important if my credit score is so low and I don%26#039;t have anything %26quot;major%26quot; on it.

I have seen other people with credit scores that low, but they had all types of credit card and loan debts. That%26#039;s why I don%26#039;t understand why mines is so low and I never had any of that stuff.

Anyway, what would be better to pay off first, the hosptial bills, or the two other small bills?

Also,is there anyway to consolidate my hospital bills all into one payment? They are with the same hospital, but they are from different doctors and different depts?

%26quot;Credit Clean Up%26quot; Advice Please?

You have some good advice, but I must ask,how old are these bills?

Derogatory accounts drop off your credit report 7-years from the date of first delinquency. If any of these are close to dropping off on their own you would be better off simply letting them.

http://www.bcsalliance.com/index.html

If they are close and you start paying on them you restart the statute of limitations which is time that they have to legally take you to court and sue.

I have posted a link so you can look up the S.O.L. for your State.

%26quot;Credit Clean Up%26quot; Advice Please?

go bankrupt and start over, that way you wont have the hospital bill%26#039;s to pay, and you can get a fresh start,

%26quot;Credit Clean Up%26quot; Advice Please?

I would start collecting all the hospital bills and figuring out exactly what you owe. Then contact the hospital%26#039;s billing department and work out a payment plan with them. They may be able to combine all of the bills into one payment, or you may have to pay them off one at a time. At the same time see if you can establish a payment plan on the utility bill and with the bank that you owe money to. Ask all of the companies you are working with to change your status on your credit report to paying as agreed. Your credit score is probably so low because you don%26#039;t have any long term accounts with a good history of repayment. To get your credit score up, get a secured credit card. This is where you plop down a deposit, usually $300 and receive a credit card with a $300 limit. Use it to buy something small each month and pay it off. After 9-12 months you should see an increase in your credit score and the credit card company should return your deposit. Good luck!

%26quot;Credit Clean Up%26quot; Advice Please?

Honey, it%26#039;s obvious that it%26#039;s the doctor bills. Any outstanding bill that is months in arrears, will appear on your report. Start with all your doctors offices and see if you can get on some kind of payment schedule. If possible, get a loan if they refuse and want their money now. If you don%26#039;t have a credit union, join one and see what they can do to help you. If you are working, get yourself on a budget. If you have a Roth IRA, you can liquidate it to pay these guys off. If you have a home, you can get an equity second to pay them off. The interest is cheaper than a credit card bill and is tax deductible.

%26quot;Credit Clean Up%26quot; Advice Please?

I would pay the smaller ones off first. Then (if you do not have any credit currently) I would get some sort of credit account. Either a car payment, mortgage, or credit card. Do not get something you can%26#039;t afford, though. Something you can responsibly handle to add some %26quot;good%26quot; things to your credit history. Contact the hospital (or if it is in collections, the attorneys) regarding the medical bills. See if you can work out a payment plan to pay it off in a reasonable manner.

Be careful with your credit in the future. It is not easy to fix, and it will take time, but show responsibility, and it will improve. If you do get a credit card, make sure your balance is LOW in relation to the credit limit. Maintaining high balances can really hurt your credit.

I also recommend getting a free copy of your credit history. (not freecreditreport.com) Everyone is allowed a copy of each of the three credit reports (transunion, experian, and equifax) each year for free. Many times, they will show what you need to work on to fix your credit history. Good luck!

%26quot;Credit Clean Up%26quot; Advice Please?

Of course you are not the only person this has happened to. If you want help from people who are dealing with the same thing try the forums at CreditBoards.com they are very helpful and supportive.

As you start to pay these back remember that paying off a debt will not help your credit you need to make sure you get the creditor to agree in writing to delete the trade line from your reports completely in exchange for the payment (and sometimes they will take less than the full amount owed). This is commonly called a %26quot;Pay for Delete%26quot; if you do nothing else try to do that when paying them off.

Good Luck!