Trying to do it myself

Hi there! It is definitly doable to do it yourself.

To get started, order all three credit reports. Once received, go over it with a fine-tooth comb for any errors. Dispute the errors with the credit report agencies.

Learn about the laws in your state in regards to SOL (statue of limitations). Also, if you have any payday loans learn what your state law is on these.

Learn what a collector can legally do and say and read up on how many of these agencies use fraudualnt actions and statements.

Look at the Do It Yourself area of this site and take a look at all the sample letters. Read through them, understand them all. You'll want all of your correspondences with the credit agencies and the collectors to be dine in writting. All letters you send should be mailed certified with return recipt requested...keep copies of your return receipts!!!! This is your proof that you've contacted these collectors.

Sounds like a lot, but it's really not that bad to do on your own. Especially with the help of this wonderful site!

Good luck!

If you start with the smallest debt that you have that you are paying on monthly and concentrate on paying that one off first, you can take that monthly asmount and apply it to the next smallest and get that paid off. Now you will have the combined monthly total to appy to the next one and so on up the line. It will not happen overnight but in time you will be caught up to the point where you have control.

Thanks. How do I find out about my states SOL? Also what is the easiest way to get all three of my credit reports?

Again thanks.

What state do you live in? For you free annual reports, go to

www.annualcreditreport.com

I live in MA

SOL in MA is 6 years

This may sound stupid but what is the significance of the statute of limitations?

The significance is that they can no longer sue you after the SOL has run out.

Just to ammend Soaplady's post. They may still attempt to sue but SOL is an affirmative defense if that does happen. However, you must respond to a summons and complaint and raise that defense. If you don't show up in court, then they can win by default.

OK, I got all three of my credit reports. Now I am going to try and negotiate.

congrads, on starting your new journey. This is a great site to help aid you in your efforts. when times get tough (and they will) just hang in there it will be all worth it in the end. Many people do this themselves and have alot of luck. the important thing is that you decided to stand up and make a change. good luck to you i hope things go well and smoothly for you and keep us posted!

First, I would compare all 3 reports. Make sure that they are reported exactly the same on all 3. If they are not complete and accurate, dispute them. Also, make sure that your personal info is correct. Dispute any old addresses that are older than a couple years or incorrect.

OK, I called one of my CC companies but I am confused. The balance is $5,100 and they said I could settle for $3,580 if paid within 90 days. Now I asked for this in writing and this is where it gets confusing. The woman said to send out the first payment within 10 days. I asked for the settlement letter first and she said it would go out AFTER they've recieved the first payment. I told her that I was leary on sending out the payment before getting it in writing. After that she just kind of blew it off and said to send out the payment and hung up.

Does this sound fishy? I don't want to send out the payment and then it doesn't get applied to the settlement.

This is with Chase by the way.

Any advice?