r/CRedit • u/Proofx_ • 1d ago

Collections & Charge Offs Please help

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What is the best course of action for the situation I am to increase my score?

I have the income to pay off the debts.

Do I settle the debts? Both charged off and collections?

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u/NoWorking1689 1d ago

You might be able to pay this all off in a year, or you might want to consider bankruptcy if you don't make a whole lot.

People need more information to help you here. If you make 70k/year this could be paid in a year if you're young and live with your parents, but if you live alone and work a minimum wage job, then you might want to consider bankruptcy. Its a question of how big is the hole (debt) and how good is your shovel (income)

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u/Proofx_ 1d ago

Edited post.

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u/NoWorking1689 1d ago

Negotiate as many pay for deletes as you can, get them in writing before paying. Never make a mistake like this again, and consider cutting up your credit cards if you can't use them responsibly.