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Collections Law/Your thoughts on rebuilding credit?


I made some really dumb financial decisions over 9 years ago, and I'm still waiting for the statute of limitations to run out on a couple of judgments for credit card debt. The attorney handling one of the judgments is trying to have my wages garnished. However, I am unemployed and don't have any assets or income.

I haven't continued to make dumb decisions with loans, credit cards and the like since then, so I'm hoping I'll actually be able to have good credit someday. To that end, I've been thinking about getting a secured credit card and charging and paying off small amounts monthly for the next few years - I'd imagine it could only help my horrendous credit rating.

What do you think of the secured credit card idea? Is it worth doing?

Is there any way these attempts to garnish my wages could result in seizure of deposit monies associated with the secured credit card?

I guess I'm just wondering whether it is advisable to attempt this secured credit card plan while I've got a bunch of debt collectors breathing down my neck. Will it come back to bite me somehow?

Thanks for your input!

Well, first off, they can not be garnished.  You purchase it and your creditors have no way of knowing you even have it. A prepaid credit card it NOT the best way to rebuild your credit.  Some of the information is reported to the credit bureaus but not to the big three: Equifax, Experian, and TransUnion.  A better alternative would be to obtain a secured credit card as these do get reported to the big three. While there is not a lot of practical differences in the cards, having the secured card that reports to the big three agencies is head and shoulders better in your situation.  Before you do this, be sure you are committed to rebuilding you credit.  You do not want to add insult to injury.  Good for you for wanting to improve your life and I wish you well i your endeavor.

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Ray A Miller


I am qualified to answer questions on the following subjects: FDCPA, FCRA and HIPAA as well as medical collections, general collections and collection agency related issues. I trained these subjects at a nationwide collection agency and customer service call center and audited around 150 representatives for compliance to the laws. I have been in the Collections Industry for over 30 years. I feel that everyone deserves to be treated fairly and with compassion and that is the way I trained collectors. Even though I worked for a Collection Agency, I get great satisfaction in helping those who have been mistreated or in need of help with these confusing issues.


I was the Compliance Administrator with a nationwide collection agency and customer service call center-I have trained hundreds of collectors on the above referenced topics. I have been in the medical collections industry for over twenty years and research these topics on a daily basis.

ACA International

Some college ACA Certified Collection Specialist

Past/Present Clients
I am retired due to medical conditions and spend a good deal of time keeping current on collection issues.

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