I have been on the forums for a while, i have for the most part been a bystander. I have read alot of information, and i have seen alot of success stories. My questions are not to complex, and i was hoping someone was in my situation and has som pointers.
Scores from Credit Karma- Transunion- 567, Equifax- 486,
Experian FICO scores ($ 1 first month membership) – Experian -600, Equifax- 575, Transunion- 612
First off i have about 30k-40k in debt.
1) 13k Car loan (repossesed) stem-purchase for my sister, and well she couldnt keep up with the note.
2) 16k in state taxes from 2012-2013
3) The other debt is various medical bills, old accounts that i never paid. I would say they are 10k-15k.
Credit King: $ 13,837 -( in good standings, current car)
My questions the small debt listed below (retrieved from credit karma (Reported on Transunion) ):
1) SYNCB/CARE CREDIT-Closed May 21, 2013 $ 0 (charged off as bad debt/purchsed)
2) Aarons Rent inc. $ 1523- Closed 04/17/2015 (Charged off as bad debt/Profit and loss write-off)
Aarons Rent Inc $ 846- Closed 07/22/2014 ( Charged off as bad debt/Profit and loss write-off)
3) Ally Financail – $ 13464- Closed (only reporting on Equifax)
1) Berlin Wheeler- $ 1618- Collections
2) Ad AStra Recovery Services- $ 1512
3) I C Systems- $ 997
4) Revenue Enterprises $ 4952.19 ( $ 3196 settlement offer from them) ( Reporting 13 items in CR)
5) Sure Check Brokerage- $ 875
6)Portfolio Recovery -$ 832
7) Elite Financial $ 721
8) Credit Collection Service $ 283
9) Biorn Corporation $ 396
10) USA DISCOUNTERS LTD $ 818
11)SUNRISE CREDIT SERV- $ 2252
12) CREDITORS SERVICE Bure- $ 177
13) CREDIT CONTROL SERVIce- 283
14) check systems- $ 4,000
Now with all my creditors listed, what is the best pln of action? I have considered bankruptcy, but at this point im young and healthy, i have a job and with a year or two i can get ahold of this. So that is not something i want to do. I want to do this to prove to myself that anything is possible. I own this debt, and i want to get rid of it! My one goal at the end of this is to have a 713 or above credit score. The reasoning behind this is simple, i was in a bad spot a year ago and i was at a big name car dealer lot. An frankly i was treated like trash. I was told i needed at 650 credit score and 2 grand to get into a car. Well i didnt have the credit score, so i set at home and mustered up 10k dollars. I went back to that dealership and told the guy i have 10 grand to buy this car i wanted, so lets make it happen. long story short, the car ould have came to about 12 after everything was done, and i would have had to finance the rest. So after we set down he started going over numbers, and as i looked they wanted me to pay almost 2,000 in interested for a 2,500 loans!!! I said what kinda nonsense is this? i guy replied when you dont have credit, this is how we get you in the car you want. He told me his socre was 713, and he could get any car he wanted. That stuck with me, and this number wont leave me alone. That is why i have to fix my credit and attain this small goal of mine. p.s i ended up buying a car with my money straight out, and the engine died 4 months later. ( i still owe my Dad 10k, ill get to him soon enough)
So everyone, please give me your input on the best course of action. Should i pay the small debts back, to clear them off and work on the larger ones over time? Do debt companies settle for 30% of the total debt? I have just applied for the Capitol one secured card, and it is in the mail.
Thank You For Your Valued Input