Can anyone help lead me in the right direction to help me get my credit back ? Without filing banruptcy.?

Question

I have had some problems in the past when i could not pay my bills 3 years in a row to be exact. I am employed now with a good job but im so far behind it looks as if i will never catch up .There are so many sites claiming they can help,they all look confusing,are they for real or a scam? What is the easiest fastest way to get the ball rolling on credit repair? Is it to late for me? Will i ever have credit again? Can someone please help?

Answer 1

Go here:

http://www.daveramsey.com

It will take lots of hard work, but he will help you get back not only your credit but your life. No money required, just common sense and lots of sacrifice. Go, run, get there and read, listen and do what he says.

Answer 2

Good for you for not jumping at the first thing you see - you're right! Most of the credit repair places are scams. They over-promise and they charge you up front for a service that you could easily do yourself.
If you are looking for assistance, you might want to find a local, non-profit place that can help. They might provide counseling, consolidation or both.

I always ask my clients "How do you eat an elephant?" They usually give me blank stares. I then reply, "One bite at a time". This mantra might serve you well. Try not to look at your entire credit picture. Take is slow, start off small and literally take things one account at a time. Here is my suggestion for you:
1. Pull your credit reports from all three bureaus. This way you will have a complete picture of what's going on. (the bureaus don't share information with one another).
2. Comb over the report to check for inaccuracies. Make sure all the accounts are yours.
3. After verifying the information, start with the smallest bill and concentrate on that. See what you can do to settle, pay it in full or get on a payment plan. Make sure that the arrangements you make do not effect your current bills and expenses. You don't want to fall behind w/ those. Robbing Peter to pay Paul will get you nowhere.
4. After that account is settled, request a receipt or a letter stating the balance is zero and move onto the next one. Just work your way up. Remember that if you have collections accounts, they might be willing to accept less than the amount you actually owe. Use that to your advantage.

Good luck!

Answer 3

Not all credit repair sites are scams. I know because I am a certified debt negotiator and many of my existing and old clients have used various services in order to repair credit issues from a time when they were less fortunate. Try looking up lexington law and go for the premier plan.

You may not need credit repair at all. If you have not paid the bills in a while most debt collectors and creditors are willing to settle past due balances for 20-40% of what you currently owe. At this time you should budget a set amount of money each month until you have a lump sum to offer one of your creditors.

When you do reach a settlement with your debt collectors ask them for the terms in writing so that they cannot come back after you for the difference later on down the road.

Some advice with negotiations.... the creditors that own your debts have nothing to lose and they can sue you at any time for past due balances. If you owe a creditor $2000 start with you first offer at $400 and go from there. Collectors typically have guidelines to follow and most have a silent policy to settle all accounts for no less than $350. When they come back to you and offer $600 thinking you won't have it. Take it and pay it once you have recieved the terms in writing.

Answer 4

What I would prefer you do is start with a non-profit debt counseling agency. These are starting to pop up around the country.

They are NOT debt "repair" agencies, as those generally are a scam. They are also not debt "consolidation" or debt "settlement" agencies, as they are fronts for loan companies.

What you need at this point is some educated advice, which I can't give you with the limited amount of info you supply. By looking over your income and examining your current debts, they will try to figure out if you can repay these debts within (example) 5 years. Sometimes this will involve trying to get creditors to accept a settlement that will lower your balance or freeze the interest. But in most cases, they are going to see if you can work out a budget plan.

These counselors do not normally charge for the initial visit, and if you continue to work with them the fees are very reasonable. Remember, these are NON PROFIT agencies. Do a quick search on yahoo for an office in your area.

If you haven't paid these bills in 3 years, take a look and see what the Statute of Limitations is for your state. The average is 6 years. If you are real close to this point, you can use that for leverage in working with these creditors.

Answer 5

One of the answers says that credit repair agencies are scams. Unfortunately many of them are. If they say they can guarantee to boost your score 100 points in a month, then it's a scam. Nothing is easy in life, even credit repair.

I've been there myself so I know what it's like to be hopelessly behind.

If the bills you have are credit cards then I would recommend a credit counseling agency. Credit counseling companies are go-between organizations that will negotiate with the credit card companies to lower the interest rates and stop hitting you with late fees. In agreement that you pay off the debts over a 3 year period.

The credit counselors will set you up on a repayment plan. Once a month you pay the counselors and they distribute the payments between all the credit card companies. It's simple and you only make one payment a month. But you must NOT ever miss a payment. Treat it like rent or electricity, you've got to pay it!

If the other bills are for things like utilities or medical you can usually contact them and work out a repayment plan individually. It takes a little time, and some of them are real jerks and won't want to do it, but just stick to your guns and say "it's this or nothing."

If you want more information on credit counseling you're welcome to visit my site here:

http://www.1-800badcredit.com/credit-card-debt-counseling.html

I also have a worksheet you can use to make a budget for your new income. This way you'll know how much you're spending each month and can stick with a plan to get back on track.

Good luck to you! I've been there myself and completely understand. There's no easy fix but you can do it - I did!

Answer 6

If your job is good, live frugally, pay off the debt from highest interest rate to lowest as fast as you can. But never miss a payment - always leave a cushion so you can at least pay off the minimums on time for each payment. This will repair your credit over time, no tricks, no gimmicks, no scams. In a couple of years you will have good credit, even if you still have a long way to go to pay everything off.

If more serious than that, consider second/part time job, and use 100% of those earnings to debt reduction.

Answer 7

The credit repair sites are scams... stay away from them.

Since all the stuff is chargeoffs, start saving your money, and call creditors one at a time and make a settlement deal... pay them 50% of what you owe them, get any agreements in writing before you pay them.

Continue paying ALL bills on time.... in a few years your credit will be good.

Answer 8

Most of those sites are scams.

Make a budget and stick with it.

Spend less than you make.

Don't charge anything you cannot afford to pay back in full when the bill comes in.

Eventually you will get back on track.

It takes time, but you will get there.

Answer 9

Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
http://debt-trap.com/category/Debt-Consolidation-Basics.html

Answer 10

Just Open Google and type

Americans living beyonds means

The first site in search results is called Only Best Deals

thats it similar to your problem , but please note if you

didnt find exactly what you looking for simply use the

top search box in the site this should make it easier for

You . . . . .

Good Luck