Separation--want to clean up my credit
Date: Tue, 05/18/2010 - 05:51
I am just recently separated. Unfortunately, my credit is horrible and I am unable to keep up with the debt that I have collected over the years. I would like to find a company that I can work with to help pay off my debt in one easy (and affordable) payment. Can anyone send some recommendations my way? Any advice?
Thanks so much! Off to read and research the site!!
Hi, The best thing recommended would be to find a good settle
Hi,
The best thing recommended would be to find a good settlement or a consolidation company to help you manage your debts.They can help you to make affordable payments in an organized way by negotiating with your creditors.
I think that is going to help you!!
The way those companies work is that they make payments on your
The way those companies work is that they make payments on your behalf to the collectors. This could bite you on the butt because these payments will restart the SOL and you may end up sued. Not to mention that all these things will show up on your credit as "paid after charge off" and will wreck your score even further because they will be updated and look fresh which will tank your score.
You can do this yourself. What you do is go through your credit reports and start sending debt validation letters to anything listed. You have the right to make sure they are reporting correctly. You can then dispute the listing with the credit reporting agencies and any listings that get verified before they respond to your validation letter have violated your rights and it gives you some negotiating power as even one violation can make them pay you $1000 if you sued them.
If they validate properly then you can send a "pay for delete" letter. This is basically offering to pay them to remove the listing. You can easily save your money and do it this way...it will help your credit score tremendously. Sometimes these companies will balk at deleting but when told that they will go to the bottom of a list, they most of the time change their tune....continuing to report you does absolutely nothing for them and they would rather get paid.
Many people on this site have done just this, myself included. We all would help you along the way.
Just something for you to think about so you know all your options!
