Bad Credit Agency

If someone is trying to clean up their credit and there are charge-offs....?

should they try and pay these off or just forget about them? I have a customer that has really bad credit but wants to buy a home and i have teken it upon myself to attempt to help them clean their credit. They have civil judgements they will pay first and then there are these two charge offs on autos... I am not sure whether they should pay them off or what. I was thinking that maybe if they pay on them for a year and show that they can make the payments for a year it will look good to the finance companies. Any suggestions?

Public Comments

1. Before I bought my condo, I made the mistake of paying off 2 charged off debts which were over $1,000 each. They remained on my credit report so the mortgage company counted that against me.
2. I would contact the creditors and express your willingness to pay. Ask them if they can indicate that you paid the debt on your credit report, which should help to boost your score. But overall this is going to significantly bring down the score for the next 7 years.
3. Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : http://umgarticles.atspace.com/debt-consolidation.htm if it helps kindly remember me in your voting!.. cheers!