I have been reading up on some of the other credit answers, and the responses have all been incredibly helpful. I thought I would stick my story out here and get started fixing it.

My payment history is not so good. I stopped paying three credit accounts over 8 years ago. The balances were not that much, but have since then become a problem.

I received a settlement "letter" (I had not requested) from a collector representing a client who purchased my account form the original creditor. I can either

• one time payment = to 30% of referenced balance
• three payments = to 50% of referenced balance
• monthly payments at my discretion

At this time I can pay the balance in full , but have received a new credit card (first one in a long time) that I can put the full balance on and pay off before the 0% introductory rate ends.

Is paying the balance in full the best choice considering my credit is already bad? Would putting it on the new account help my credit history and/or score? Should I just write letters to bureaus asking them to take the old history off? Is the letter I received the actual "letter in writing?" Should I contact the collector, because the letter is dated the 4/16/08?

I have a lot of questions because I am just beginning my recovery. Maybe I can be referred to a good resource book. I have seen so many and the one I have purchased seemed to be outdated (I'm guessing, had a bureau on there that was unfamiliar).

Thank you for any help!

8 years? You don't need to pay anything unless you live in a state with 9 years statute of limitations or you have some personal moral or religious reasons to get rid of your money. Those accounts should had been deleted from your credit report one year ago, you have the legal right to have good credit now, if those acounts still there you need to send to all three CRAs a dispute leter requesting deletion because they are too old to be reported, if they refuse to delete you sue them. About the colectors just send them a certified letter asking the to cease calling you and writing letters, if they call you after they get your letter you sue them in small claims for 1,000 dollars. For sample letters go to Debt Consolidation Credit Counseling Free Credit Reports Increase Your Credit Score

Thank you - the letters to the CRAs go out tomorrow.

You are very welcome, please let us know what happens when you get the responses.

Carl.-

So far the only response I have gotten back is a letter from Equifax stating I have to pay a fee of $8.00 and additional identification information. I thought consumers could request a free credit report annually and I have already sent them copies of my identity. Is this normal? Do I just send another letter, which would be the same as the initial letter? Thanks