Fixing bad credit?

Question

I am not looking for any "miracle cures", I am willing to pay what I owe. What I want to know is when I am negotiating with creditors, there is a certain WAY that they can clear the debt that looks much, much better on your credit report than if you just pay them off. What is the wording I should be negotiating FOR?

Answer 1

You want to negotiate for the creditor to report to the 3 credit bureaus "account is paid in full" or "account is paid as agreed." That's the best wording. Additionally, if they are reporting you are 180 days past due, you want them to remove that totally.

Even if you settle the past due account for less than the total amount claimed, you still want to negotiate in advance that, upon paying the agreed amount, the creditor will send you a letter saying "the account is paid as agreed."

Be sure to look at your current credit report beforehand, so you know exactly what they are reporting today. In some cases, a creditor may not be reporting at all. It happens. The most difficult bad marks are a "mortgage late." However, even a mortgage late can be removed using an aggressive strategy.

Answer 2

=======================================
The TRUTH About Credit Repair...

-by Terry Price

(C) Copyright Terry Price
All Rights Reserved

http://gaby1221.niesong.hop.clickbank.net
=======================================

Have you ever wondered what companies
send you when they claim you can erase
bad credit overnight? How about those
ads that say you can get any major
credit
card without a deposit or a credit
check?

Ads abound almost everywhere
these days (online and off) selling
books, systems and secrets to
help you fix your credit. Many
of these programs have claims
which read like the covers of
supermarket tabloids:

"In 3hrs my credit score jumped
from 580 to 676!"...

"Erase bad credit and smash your
debts with just 2 Magic Letters!".

Are these types of claims ALWAYS
too good to be true? The answer is
"Yes and... no".

While many people would love for
you to believe the only thing that
can fix bad credit is time; in
reality... nothing could be further
from the truth. The fact is, time
is only one factor which can fix
a credit report, but it's a far cry
from being the only factor. How
can I back this up? Easy.

Under a consumer protection law
known as the Fair Credit Reporting
Act (a.k.a. the FCRA) the only
negative information which can
remain on your credit report is
not what is accurate... but what
can be proved as accurate under
the FCRA. What's this mean
to you?

It means any negative item on
your credit report can only remain
there if it is accurate and CAN
BE PROVED AS SUCH under the
guidelines of the FCRA. This
undisputable fact presents
consumers with both good
news and bad news.

The good news is that through
the FCRA your credit score can
most likely be improved dramatically
in a very short period of time with
only a modest amount of effort on
your part.

The bad news is that while the
actual "work" will take very little
of your time, it is vital that you
have good information on "how"
to go about it. This is the bad
news; 9 out of 10 courses on
restoring your credit will do nothing
more than lead you into snake
pits because they will provide
you with what the industry refers
to as "Boiler Plate" dispute letters.
These are nothing more than form
letters and... quite frankly (more
bad news) the Credit Bureaus and
Creditors will laugh at you if you
try to use them.

While I agree with the Federal Trade
Commission (FTC) that "Anything a
Credit Repair Clinic can do for you
legally, you can do for yourself at
little or not cost"... the key element
you need for success is the latest
inside techniques and procedures
to get the results you want. This
involves strategies such as "Proof
of Contract", "Constructive Notice",
"Challenge of Procedure" or
"Restrictive Endorsement" and many
others.

All these terms may "sound" impressive
but they are really quite simple. In
the
end, it is nothing more than a method
of communication which exercises your
consumer protection rights, gets the
results you want and raises your credit
score. Even more impressive, once you
learn how simple it can be by doing it
for
yourself, you will find there is a
fortune
to be made doing it for others! Either
way, it all starts by requesting a free
copy of your credit report here:

http://www.AnnualCreditReport.com

In the next segment we'll talk about:

"Is Your Credit Score Costing
You A Fortune?"

=======================================
Terry Price is the founder of Consumer
Education Group which publishes the
Credit Secrets Bible (in print since
1994).

For more information on the CREDIT
SECRETS BIBLE you may visit:

http://gaby1221.niesong.hop.clickbank.net
=======================================

Answer 3

first off. how much debt do u owe and what kind? i believe after seven years your debt is cleared or something. but when you negotiate to pay everything off, just be assertive. make sure they send you a letter stating that if you pay this certain amount then your debt will be settled. and make sure you keep all your records. credit card and debt collection agencies are evil and will look to screw you any way they can. it is really hard to get out of debt and re-establish credit. because stuff doesnt come off your record very easily. it almost takes an act of god to do that. just watch your back, record everything and get proof of everything and every agreement you make with creditors. your best bet is to enlist the services of a credit/debt councelor.

Answer 4

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 5

Credit flags stay on your credit report for 7 years. If you have "write-off" debt, you will never have credit again unless you can make arrangements with he creditor to remove that flag in return for paying the debt. There is no guarantee they will remove the flag, but it is your only choice. If you make such an arrangement, do NOT disappoint them for you will certainly never get the flag removed.

Answer 6

Pay your bills off completely. Cancel all your credit cards except one. Charge $100 a month and pay the bill in full every month. This should raise your score by 100 points over 2 years.

Answer 7

.tell the company that you are wanting to pay the bill and you would like them to offer you a price, what ever the price is you go fifty dollars less, they will settle. Ask them for a receipt stating the bill was paid, It's better if you send them a letter asking for a receipt so that you can send this to the 3 credit beau rs. This is what fixes your credit, the companies don't take the time to do it. you will need to

Answer 8

I fixed my credit on my own by reading the Fair Credit Reporting Act and using the loopholes to my advantage.

Most of my credit discrepancies were either utilities or credit cards. By the time I started working on them, they were with the collection agencies. I simply told the agencies that I wanted them to send me proof that the bills were mine (signed receipts or utility bills).

They couldn't do it, so they had to remove it from my credit reports.

The agencies for the credit cards did not have the signed receipts, since the banks only keep them for so many years/months.

The agencies for the utilities were not allowed to send paperwork out of state.

ST

Answer 9

start paying your debt on a very regular schedule, if you can pay more than the minimum amount due, choose the one that as the higher interest ...