How to fix my credit its very bad!!!?

Question

Last year in 08' I lost my job my house got behind on my bills and even lost my Truck I think some of them got me on collections. Now that I'm working again making good money what should I do to fix these issues. Where do I start? I been thinking of hiring one of those guys that "repair credit" what ever that is any suggestions....

Answer 1

Credit Repair companies don't do anything that you can't do yourself for free. What they normally do is obtain a copy of your credit reports and then bombard the credit bureaus with numerous dispute letters. The bureaus have a certain amount of time to investigate your dispute and if the don't do it the allotted time the law says the must delete the trade line. The problem with this approach is that after awhile the bureaus can label these disputes as frivolous and then they can legally ignore them.



So they best thing you can do is obtain a copy of your three reports from annualcreditreport.com if you haven't already done so and look them over carefully for mistakes or erroneous information. If you find something the next step would be to send a debt validation letter if it's a collection account or what's known as an Original creditor letter if it's a charge off, repossession, foreclosure. These are two separate letters as the law is different . The contact information will be listed in the tradeline. By law the collection agency or original creditor only has a certain amount of time to answer your letter and either provide the documentation necessary to prove the debt is legally yours or if the can't provide the documentation they must notify the credit bureaus to delete. It is almost always better to dispute first with the institution who supplied the information to the credit bureaus than to dispute with the credit bureaus first. If after your debt validation/Original creditor letter is sent and you do not get any results or response then you can dispute with the credit bureaus.



PS: Make sure when you send debt validation/Original creditor letter to do so Certified Mail return receipt requested so you have a record that the letters were received. Also make sure to look up your state Statute of limitation laws. If the account is proven to be yours and it is within the statute you can be sued and then you can end up with a judgment and wage garnishment. If the account is outside of the statute you can still be sued but you have a defense and the judge must dismiss the case.

Answer 2

You should visit HTTP://CREDIT.QUOTEQUOTING.NET I am sure here you can find the best option for you



RE How to fix my credit its very bad!!!?



Last year in 08' I lost my job my house got behind on my bills and even lost my Truck I think some of them got me on collections. Now that I'm working again making good money what should I do to fix these issues. Where do I start? I been thinking of hiring one of those guys that "repair credit" what ever that is any suggestions....

Answer 3

Get a copy of your credit reports.You can't start to your credit score your credit until you know exactly what you need to work on. Your credit report includes a list of the accounts that are hurting your credit score. Dispute a credit report error.If your credit report contains errors, you have the right to have them removed by writing to the credit bureau or the creditor who listed the account on your credit report. Avoid a new credit card application.As long as you're in credit repair mode, you should avoid making any new applications for credit since credit inquiries can hurt your credit score. Mark’s book-Hidden Credit Repair Secrets can help you fix your credit also.

Answer 4

Do not pay anyone to fix your credit. I paid $500 to a well known credit repair company and they didn't do anything I couldn't have done. What you need to do is pull a credit report and look at all the delinquent accounts. Call each one and see if you can settle for 50% of the balance. My credit score was 528 after I lost my job over 2 years ago. I ended up settling with every creditor at 50%. This was a year and a half ago. Now my credit score is 670.

Answer 5

Simple credit repair is a viable option if you dont have time and tons of patience for the tedious process it will take to repair your credit. I would start there and expect a 50 point or so bump. If you need more you would have to consider one of those authorized user tradeline programs. Good luck.

Answer 6

Avoid the temptation to pay a "credit repair" firm, as they cannot remove accurate negative info. If you’ve had recent defaults, charge-offs, late pays, then you need to understand these items have to age of your credit report naturally. After 7 years from the date of default you'll get a clean slate. "Credit repair" firms have no special power to magically delete negative items....all they do is dispute all negative items on your credit report and hope that the credit bureaus cannot validate the debt within the 30 day allowable time frame, in which case they must remove the items. You don't have to pay anyone to do this as you can do it yourself for free.



- Paying back charged-off credit card debt won't fix your credit...the damage is already done.

- You may be able to negotiate the complete removal of non credit card debts like defaulted cell, medical, utility bills etc. from your credit report with a Pay for Delete agreement. This is a written agreement where you get a signed agreement from the debt collector (PRIOR to making any payment) where they offer to remove the negative items from your credit files after an agreed-to amount is paid. They will NOT want to do this....all they want is your money and their commission and they could not care less about your credit rating....Still, you have something they want (money) and that puts you in a position to negotiate on this issue. Example letter:



I am willing to resolve this issue if your firm sends me a written agreement that you will remove all negative notations from my credit report after the agreed-to amount is paid to you. Upon receipt of this letter I will mail you a USPS money order for this amount.

Answer 7

Pay your charges off thoroughly. Cancel all your credit enjoying cards different than one. fee $a hundred a month and pay the bill in finished each and each month. this could improve your score by a hundred factors over 2 years.

Answer 8

dont use those agencies, call your debetors, and then make payment arrangements through them- if you settle on the account it will say settled on the credit report, but you can opt to pay in full- either way you are going to loose massive points so it is more pracicle and cost effective to just settle

Answer 9

How to fix my credit its very bad!!!?



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Answer 10

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