Don't Give Up if You Have Bad Credit!
It can Still be VERY (Simple) to Delete YOUR Collections Accounts and Charged Off Debts and ANY other Negative Credit, Bankruptcies, Foreclosures, and more to Raise Your Credit Scores.
Read this short page to learn how you can get your credit on it's way to an EXCELLENT rating once AGAIN!
[caption id="attachment_2771" align="alignleft" width="160"] credit repair success stories charge offs and collection accounts can prevent you from living the life you deserve. You can get them legally, ethically and legitimately removed by following the advice we offer to you here.[/caption]
Credit repair isn't just about removing negative items. It's also about building positive credit by adjusting your spending habits and developing a good record of responsible debt repayment. In this article, you will learn how to accomplish both sides of the credit repair task ahead of you: deleting negative items and building good credit.
Credit troubles can begin with a few maxed out credit cards. Interest can get out of control, and eventually it can get to the point where the card balance is so high that you may not be able to even make the minimum payments each month. You might be able to keep treading water financially, but eventually you may start to sink.
If credit card companies catch up to you, they can sell your accounts to collection agencies, and representatives from those agencies will then take over. These reps can be extremely aggressive in their attempts to get you to pay off your debts.
Debt representative's are known for calling a consumers home - literally every day, and you also may accrue tons of stressful letters from them in the mail. It can be frustrating, disheartening, and demoralizing. No one likes being constantly reminded of their financial situation every single DAMN day.
Debt collectors are really invested in making you pay up. Normally, they work on commission, meaning - they don't get paid until you pay. Often times, this means that they're not about to just let an account go without trying every tactic at their disposal to secure any form of repayment.
Their tactics normally start with harassing phone calls, hoping that you will get tired of talking to them every day, so that you will pay up just to make the harassment end.
Then, it's possible that they may move on to making repayment "deals" in which you are offered a low monthly payment. It may sound good, but you have to make sure you read the fine print because you may discover that the interest and fees are exorbitant and the monthly payments could go on for years.
If your debt collector is particularly unscrupulous, they may also make threats against you. For example, they may threaten to garnish your wages if you don't pay up.
It's important to realize that threats of this nature are often groundless and ILLEGAL. Unless the debt collector has a real intention of filing the necessary court case and has a real chance of winning that case, they can't make threats of legal action against you.
Another favorite tactic of debt collectors is to report your unpaid debts to the credit bureaus as charge offs or collection items. This can be very damaging--each charge off can lower your credit score by up to 100 points.
When you see a charge off on your credit report, it's important to realize that you have options for dealing with it.
Repaying the debt is a valid option. If you choose repayment, be aware that paying the debt will not automatically remove the charge off. In order to remove the charge off, the credit bureau must be petitioned with new information.
-So if you do decide to pay, make sure you get proof in writing that the debt collector has agreed to have your charge off removed afterwards.
Another way to get a charge off removed is to use a credit repair letter, which is basically a form letter that you can fill in with your personal information. It's important to note that this letter is best suited for debts that are inaccurate or unverifiable. If you choose to send this letter, be sure you use certified mail or a delivery confirmation service, so you can prove that it was received.
Perhaps the best way to get a charge off removed and your credit repaired is to hire a professional. The Lexington Law Firm has an awesome track record of helping people in credit need. In one year, they removed over 2 million negative items from their clients' credit reports across all three credit bureaus (in 2011).
You can call Lexington Law for a free consultation. You may then go over the details of your situation with a Lexington Law Paralegal, and you will most likely start to feel better once you realize your situation can be corrected.
There are several tactics that a credit repair law firm can use when disputing a charge off or collection item:
-Debt validation. You have a right to initiate debt validation within 30 days of being contacted by a debt collector. The debt validation process forces the debt collector to PROVE that you owe what they say you do. If they can't, the debt is canceled.
-Statute of limitations. Every state has different laws about how many years a debt can remain active. If your debt is too old, and you haven't paid on it in years, it's possible that the statute of limitations on it has expired, making it illegal for anyone to try to collect on it.
-Fair Credit Reporting Act. According to this law, it is illegal for debt collectors to report inaccurate information about you to the credit bureaus. So if you can prove that a charge off or collection item was reported wrongly, you can easily get it removed.
-Fair Debt Collection Practices Act. This law protects consumers from some of the nastier debt collection tactics. Under this law, debt collectors are not allowed to call you simply to harass you. They are also forbidden to make baseless threats of legal action like wage garnishment, asset seizure, liens, or arrest.
Many of Lexington Law's clients have experienced tremendous results.
It can and will literally feel like you have been given a second chance at your credit portfolio.
Once you are able to retrieve your good credit - you can take good care of your credit by following these easy steps for building and maintaining good credit:
-Don't carry too much debt. Experts recommend that you charge no more than 35 percent of your credit card's limit each month.
-Pay your bills in full and on time. Your payment activity is reported to the credit bureaus every month, so even one mistake can hurt.
-Don't apply for too many credit cards. Each time you do so, a "hard" credit inquiry goes on your credit history. When lenders see too many of these, it makes them suspicious that you may be overextending yourself.
-Keep old accounts open. Even if you're no longer using your old credit cards, keep them open so that you will have a nice long credit history on file.
You too can achieve awesome results like this if you follow the simple steps to repairing and maintaining your credit that I've outlined here. Remember, hiring a professional service like Lexington Law is an investment in your future, and you are worth it!.