[ponygirl]

Hello Chane,

I have a few old debts, the statute of limitations is up on nearly all of them. I have not had a credit card in nearly 7 years. A year ago I took out a car loan with high interest, and recently applied for an Orchard bank credit card for $300 limit, which I was approved for. I am wanting to rebuild my credit properly. I realize I owe those debts and looked at trying to pay them off in the past years. Being that they are so old, they have been charged-off and/or put into collections. I don't want to start the statute of limitations over, but I want to improve my credit. Since applying for and receiving the Orchard bank card, I have gotten a few collections letters about paying off debts at 50% off. Will this help my credit? Not sure what is the right thing to do or how to continue to rebuild my credit responsibly.

Thanks for your help,
ponygirl