Free Debt Management & Bankruptcy Articles

Professional Authors - Professional Articles



Debt Management Tips - How to Clean Up and Fix Your Credit Reports!


If you have been through a debt crisis and want to demonstrate that you now have your debt under control then you will want to have it properly shown on your credit reports. You need to show that you have taken care of your debt or are faithfully taking care of it now. It is important to get hold of copies of your credit reports so that you can make sure that everything reflected on them is accurate and true. So here is what you need to do in order to undertake that process.

You need to go and order your reports from Experian, TransUnion and Equifax. Understand that Experian is the main report so always make sure to have that one and make sure it's correct because you need to start with them as your main line of defense when you are trying to defend your good credit.

There are two ways in which you can order your credit reports. One, is that by law, you must be allowed to get one free report each year. Do this through the credit bureaus and not through a third party because they are going to try and charge you something, or at least try to. Also make sure they are sent to you via email or just right from their sites and not through a wireless connection or a public computer. You are just asking for trouble there.

Make sure that you do your best to clean up any bad debt that you might find on your reports. Find out how much you owe on the bad debt and if it's been written off then you have a shot at settling with them for one third to one fifth of what you originally owed. When clearing up bad debt do your best to not get a third party to do it for you. You can do it yourself and these companies charge you money and sometimes they make matters even worse for you.

Make sure that whatever you do get any deals relating to your credit in writing! No matter how unimportant it might seem to someone else, it's important to you. Make sure to over emphasize everything when it comes to all the terms and conditions of any settlement you might make with a creditor. Debt collectors will take whatever steps they can to get payment from you for their clients, including lying & cheating if they have to. They will tell you anything to get you to pay up and they don't care about your credit report nor will they bother to fix the report even though by law they are required to do so.

You need to get your settlement in a contract first. A collector is going to tell you anything to get you to pay your bill. Do not do it unless you are sent an agreement in writing! It must be in writing and refuse to pay until you get it! No faxing and no email - by law a contract or agreement must be what is called a “hard copy” and let them know that you know this! They will tell you different but in court if it's not a “hard copy” you don't stand a chance.

The debt collector must be told that once you have cleared up the debt that they must and I repeat they must delete it from your credit report. They will try to tell you that it's OK to say updated. And that means your credit will be OK. This is not true and will disadvantage you down the track! The bad debt entry when paid off must be deleted. Even if they tell you by law they can't be strong and confident in your own knowledge that this isn’t true and demand they delete it!

Don't be afraid to go to war with them. These collectors are ruthless and if you don't like the way they are treating you hang up on them. Then the next time you try to talk to someone, refuse to talk to them, they are usually not trained well anyway and demand that you talk to a supervisor, and refuse to negotiate any other way. You can play just as much hard ball as they can, plain and simple.

Make sure that the company actually owns your debt. If a debt you owe has been a debt collectors hands for a time the debt may have been passed down to other companies in the past. One thing they do is keep all the different debt companies on your report making it look like you owe all of these people. This is illegal but they do it anyway and of course this worsens your credit. You need to find out who really owns the debt, only work with them and get all of the duplicates off your report making sure that you let them know you know this is an illegal action and they need to correct it immediately. Of course understand they will always use the excuse that it was an oversight or error on someone's part. Whatever the excuse they must clear it!

Note: When you are cleaning up your credit report understand it's not going to be easy, most debt collectors are not much better than the common criminal on the street so have patience and fight for your rights as a consumer. Don't be in a hurry to take care of the problems, make sure you have all the facts and you know what your rights are. If you have to, contact a lawyer for help.



Comments
Home Security Systems commented on 23-May-2018 09:10 AM
I've been investigating this issue for around 3 weeks now and this is really the very first page that truly is sensible. How come it's really hard to locate reasonable information about security and safety today? Absolutely appreciate the effort you spent placing your ideas in to words so rookies just like myself may take a step. Could there be a part 2 for your blog? Thanks again!

Home Security Alarms commented on 09-Jun-2018 01:44 PM
I've been exploring this topic for almost two weeks at this point and this is actually the 1st blog that absolutely adds up. How come it's so difficult to access reasonable information and facts involving security nowadays? Surely understand the time you invested placing your concepts in to words so novices similar to me personally may take a step. Will there be a part 2 to your posting? Thanks again!


Post a Comment




Captcha Image






BLOG TAG CLOUD
whole family initial research regain control credit card help Consolidation Company more income utility payments child support debt buying a house own money investing cable bill financial education learning experience negotiation security social services full details paying out debt paying bills credit card companies debt consolidation loans payday loan companies bad debt management tips income debt relief personal finance asset info get out of debt credit card understanding home equity debt management tips cancer loan stop harassment gambling problem credit companies common debt traps saving common debt illness mortgage payments rent payments implement a budget introductory offers understanding debt collection agency debt management mistakes credit cards making payments emergency savings account chapter 7 help with debt loans installment plans account interest honesty bad debt management specific budget categories children saving seperate accounts classify bills lending company debts new job government assistance child support check card teaching children finance insurance salary overbearing bills software original creditor live within means lending companies repay loans bills borrower mortgages cash card bankruptcy Chapter 13 down payment negotiate debt consolidation medical debt filing bankruptcy good credit rating extra payments credit bureaus credit company medical bill candidate debit card education car loan low interest school jobs worksheet insurances loan companies gambling debts younger children saving money credit report repay ill health payment behavior pay off bill injury account charges debt company children budget become free debt programs visualization personal finances interest rate receipt borrowing debt consolidation deals in writing savings allowance unsecured loan loan amount managing debt help budget categories debt management advice family assistance checks ongoing bills purchase protection restrict spending debt relief agency professional extra money credit repair child spending payday loan money interest monthly payments take control of debt liability purchases careful handling total balance credit finances secured loan financial security spending great budget ideas good budget doctors consumer lawyer less money comfortable living overcharging account fees house loan legal action debt traps loan agents budget sheet paycheck court appearance home debts management advice credit reports budget ideas back support budgeting creditors bank losing your job credit history high interest rate debt collector help household items budget hobbies family budget deb consolidation interest rates monthly payment good credit record discounts payment frequency overspending pay off debt credit card traps credit accounts loan harassment debt management monthly bill credit rating flat broke spend money order report tax info unemployed short sale interest payments borrow money credit limit home equity trusted friends modified payment plan piling debts medical bills second job losing a job unreasonable expectations phone calls control spending checking account handling money good debt assets hospital invest money telephone bills debt solution credit checks part time job need money debt settlement great budget expenses unexpected expenses groceries charitable organisation home equity loans tracking money loss of income debt free internet installment plan credit line debt payment period repayment plans credit card debt fly-by-night domestic support lose your job debt problems live your life savings account reduce debts job loss rebuild good credit taking responsibility credit card company credit scores debt past bad debt cash building debts bad financial decisions bank accounts management program sickness debt collectors monthly budget your rights save money credit score prioritizing good credit paycheck info



Copyright 2016 - Free Info Site Enterprises
Privacy Policy  |  Copyright Policy  |  Website Use Policy  |  Non Endorsement Policy  |  Contact Us  

Finance Blogs
best blogs