Skip to main content

Old Debt

Phoenix, AZ |

I have debt that is very old - 6 to 7 years old. I have paid half off since this time and have half left to pay. If I have a Garnishment in place now and a New Judgement just received, how best, without Bankruptcy, can I fix my credit score?

+ Read More

Attorney answers 3


Pay faithfully and reduce your debt to credit ratio. Or get rich and/or pay off everything and don't worry about your credit score. If an improved credit score is your goal, your credit score could increase faster after a bankruptcy than by dragging out payment on these old accounts and judgments.


I would suggest meeting with a local bankruptcy attorney, who also specializes in debt settlement. This way you can view all of your options, both bankruptcy options and non-bankruptcy options. If the total outstanding debt is a significant amount of money you may want to look at filing a bankruptcy; because without eliminating this debt your credit will not reach its full potential. Bankruptcy would allow you to have a fresh start and then you can focus on rebuilding your credit without the bad debt holding you back (if you qualify to file a Chapter 7 Bankruptcy).
If the total outstanding debt is not a significant amount of money then you could look at other non-bankruptcy options. For example, you could settle your debt for a percentage of the total amount owed. The only concern would be the fact that some of the creditors have already sued you, which results in higher settlement percentages/paying back more of the debt. If there are other debts in which the creditors have not filed suit, you could potentially settle those for a lower percentage of the total amount owed.
As indicated, I believe the best first step is to set-up a consultation (typically the first consultation is for free) with a bankruptcy/debt settlement attorney in your area. I wish you the best of luck with everything!


The best way to fix your credit score is to stop negative reporting and start getting positive reports.

This can be difficult and make you a bit crazy.

Just remember your credit won't really start to get better until the creditors stop reporting negatively. The sooner you can resolve the negative reporting, the better.

Good luck.

Jim Webster
Scottsdale, Chandler, Mesa & Phoenix Arizona Bankruptcy Attorneys & Lawyers

1845 S. Dobson Rd. Ste 201
Mesa, AZ 85202

(480) 464-4667

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.

If you live in Arizona, please contact me for actual advice; this is just speculation. It certainly is not legal advice. I don't have enough information to give actual legal advice. I can only take the limited information presented and provide a idea of what you might do and how it may turn out.

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer