Debt Management Program Advisor

Timothy

Check this site for Consumer Credit Counseling Services in your area: . They are legit, non-profit and can look at your finances and advise you how to proceed.

You could tackle that old debt yourself. Look at your credit report and start with the newest derogatory item and work back to the oldest. The older the item the less impact on your score. Derogatory items age off 7-1/2 years from the date of first deficiency. If anything is close to the 7 year mark, you may want to just let it age off.

If you have single entry items like cell phone, utilities, and medical bills, you can probably negotiate a delete for pay, even paying less than full balance. This will help your score the most. So you might want to tackle these before regularly reported items like credit cards.

If the debt is over 3 years old, offer 25%; 2 or 3 years old, offer 50%; less than 2 years old, offer 75%. Lump sum gets the best deals. Any payment plan has to be short term. Get any settlement agreement in writing and keep it, along with your payment proof, forever. Do not give the creditor direct access to your bank account.

Paying off old debt will not improve your score (unless you get the item deleted). The damage has already been done. But creditors look at your whole credit file and paid old debt looks better than unpaid.

Timothy

Here is the source of a credit counseling company named for your reference. May be this can be of some help to you.

Lee

Hi,
I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate. Icame across this company on NBC News Special Edition.Check it out here: