My credit is horrible?

My credit is horrible?

For a period of about ten years I had excellent credit. I had many friends that needed help establishing their credit and since someone had helped me establish mine, i tried to help them by allowing them to get any number of household utilities in my name and even co-signing for a car for one.

I don't use my credit a lot so I thought everything was great and that all the bills had been paid. When i went to get a car loan a couple of years ago i was nearly laughed out of the bank. Turns out that NONE of my so-called "friends" had ever even made any payments on the things I allowed them to get with my name.

I never even knew it, it was like being slapped in the face. I have worked very hard and have paid off all of the outstanding balances, but i still have horrible credit because it went unpaid for so long. How can i begin to rebuild my credit?

The Answer : This is a classic example of how collection companyes screw you!Even after you have paid off the debt, they continue to post your histor on your credit report.Next time, send them a letter telling them that IF you pay off the debt, they MUST remove any negative history. Now look where you are?

Broke and bad credit. Your first job is to contact all of the creditors and credit bureau and demand that the status of all those loans say "paid in full". Have the credit reporting agencies place a letter in your file explaining what happened. You are allowed a short message. Go through the links I've supplied and see if it helps. Good luck.