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.

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!

Home Security Alarms commented on 19-Jul-2018 11:42 AM
I've been researching this subject for around 2 weeks now and this is the 1st page that truly adds up. How come it's really hard to locate reasonable guidance with regards to protection today? Absolutely recognize the time you spent placing your ideas into words so novices just like me can certainly take action. Will there be a part 2 with your blog? Thanks again!

Post a Comment

Captcha Image

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

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

Finance Blogs
best blogs