Bad credit fix?

Is it better to pay off bad stuff on your credit or have someone like careone do it?

First...it is important to find out what the law is in your state as far as statute of limitations for reporting. If it close to statute...its not worth paying as it will drop off when statute runs out. If they are already past statute you need to file a dispute with the three major credit reporting bureaus and have it dropped off.

If it is not past statute and you want to pay them...do it yourself. Call the creditors or collectors and cut deals. Ask for settlements for a less amount or a payments plan of what you can afford. They will work with you.

There is nothing they can do that you cant do for youself. Additionally, you will find that they ruin your credit as well. As they wait for everything to go to collections to make settlements and they also pull your credit report and make a line item in your inquires section. Than they go charge you for it.

The worst part is...they can not stop a creditor or collection agent from going after you or suing you. The agent or creditor have not obligation to even discuss anything with credit managements companies, nor do they have any obligation to accept offers from them. They simply terminate the phone call and go right over their head and straight to you again.

Whats the point?

Some people pay get lucky and have their accounts assigned to nice bill collectors that will just accept deals form credit managers cause their nice like that. So you can get away with it. But I can tell you... 7 out of 10 bill collectors will just get pissed off and hang up on the credit manager aka "beggers".

If you want to settle..begin your offer at 30% and the collector will try and work you up...do not allow them to take it above 60% of the balance. Even though it is said that 75% of the balance is considered to be a good settlement amount...I dont see whats so good about it.

For medical bills start by offereing 15% of the balance and they will work you up, no more than 50%. Stand your ground and be firm they will call you back before the end of the month...trust me they will.

The money that you spend on a credit manager can go towards your bills.

TIP: Call bill collectors about 5 days before the end of the month to make settlements...this is when they are frantic to meet their quotes and will take what they can get.

And NEVER pay them untill you get your deals in writing.

Oh ya, and you can get a free credit report at www.annualcreditreport.com so you can look at who you need to call.

Good Luck.

Let's take the middle man out of it, shall we?
First of all, you need to pull a credit report from each of the three major bureaus. The official government website is www.annualcreditreport.com This is the only US government official site to get a free credit report. The rest are ripoffs.
Second, check your creditors and what you owe. Make sure that all the debts on your report are legitimate. If you have accounts reported that aren't really yours, that is beyond the scope of this answer, however I will be willing to help you if you email me. Click on my name to do that. I've seen estimates as high at 80 % of all credit reports have errors.
Now then, contact your creditors, in writing offering a settlement as long as they delete the debt off of your credit report. Do NOT sign your name on your letter, just initial it, as signatures seem to "appear" on documents that you've never seen. Low ball the creditor by offering 30 percent of the debt. Work from there. Some may not offer a settlement, some may. However, the closer to the date that the reporting date (seven years from date debt was initially incurred) and your jurisdiction's statute of limitations, the more likely they will be to settle.
There are several great guides out there to help you clear up your credit FOR FREE!! You just have to have the time and the follow through to do it.

Depends . . . if you lack the ability to write letters and keep track of documents --- pay someone to do it.

However, if you are able to do the things mentioned above, same money and do it yourself.

Hello, I might get flack for this answer to you but hey its the real world. First thing I would do is contact the person that the debt is owed to via mail and ask them to verify the debt. Law states they have 30 days and if they do not respond the credit agancies will drop it off your report.

Ok,Lets say they respond and tell you the debt is yours and provide proof. You would still have the option to ask the credit agencies to validate the debt with the creditor. More than likely the buruea will send you a letter back stating its been verified (thats bogus they use e-Oscar) Right away you need to then send a letter to the credit agencies again asking them to reverify and send you an explanation of how they verified it. More than likely they will remove it from your report if you word your letters right.

If all this fails send the company you owe a letter stating you will pay 30% of the amount due on the condition that they delete it from your report or mark it "paid as agreed" this is very important. I say this because your score can actually be lowered and more damaged by paying a collection off.

Also NEVER talk to them on the phone. A phone call can be construde as a renewed promise to pay and the debt can be re-aged.

Good Luck!

Depends...
if you stick with a nation debt relief firm, they will take care of it and it will fall off your report in 3-7 years.

If you pay off without knowledge, then it will stay on your credit until 7 years has passed.

If you research FCRA on a search engine, look for a site which spells out all of the steps to repair your credit. At least 10-40 hours of reading should help you make an informed decision and could increase your score dramatically. People who are regular posters on sites will give you advice, once you have done the initial reading.

Your credit is worth it, it is worth the time to make an informed decision.

pay it off yourself.Why pay someone to what you can do yourself?

Go to the forum section of http://creditboards.com and READ READ READ

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