Credit Card Debt Repair legally get out of debt with debt free prosperous living strategies anyone can use!
Do it yourself debt elimination tips includes getting a copy of your free annual credit report. You are entitled by law to get a free copy of this report once a year.
For credit card debt repair this credit report will give you a list of all your bills and tell you how much you owe. It will also tell you if you have been late with payments or have missed them completely.
You will have to do the credit repair yourself by being more diligent in paying your bills. Doing credit repair yourself also means you should take a good look at the outstanding balances you have on your accounts.
Many negative remarks cannot be deleted without creditor cooperation because the dings are accurate and the creditor persistently cooperates with the bureau’s request for verification.
Your goal then is to persuade your creditors to soften their stance by either toning down or entirely deleting their remarks on your credit report. In the next stage of debt repair, we will get more creative and attempt to persuade the creditor to remove the damaging remarks completely. But for now we only want to turn those current bad debts into positive credit ratings.
Contact the creditor by telephone. If letters are futile, use the telephone. This will allow you to interact with the creditor in a more personal way. Before you call, study the information you have gathered from your credit report, your creditors’ responses, and the worksheet you have compiled.
Then write a simple outline of all the points that you want to make during your call.
Be persistent. Sometimes the first call to a creditor will have no effect. Don't be bashful or discouraged. Try again. Be persistent.
Talk to a different person. Large companies will have many people working in their customer relations departments. Each person will react differently to you, and sooner or later you may find someone who will relate more positively to your problem.
Offer to send the creditor a letter with the agreement to update your status in writing, along with a self-addressed, stamped envelope. (Be certain to obtain the creditor’s name and office address.)
The creditor should sign the letter and return it to you for your own records. This letter is important if the creditor forgets to change your status or later changes his or her mind about helping you. You can send this letter to the credit agency yourself to repair your credit.
Send your statement to the credit bureau. If the creditor has not improved the marks on your report, you should write directly to the bureau and ask it to add your consumer statement to the account in accordance with 15 US section 1681i (b) of the FCRA. Your comments as to why the bill was not paid on time will then be submitted with your credit report in response to any credit request.
Your comments may greatly mitigate the damage of a particular entry. You may not want to comment on any one particular entry, but want your credit record to reflect reasons for a generally poor report.
For example, if you have several negative entries, were they caused by:
You see the idea. These unfortunate experiences can hit anyone and wreak havoc on an excellent credit history. Let credit inquiries know if there was one definable event that ruined your good credit. Addition of Consumer Statement can be used to ensure that such a consumer statement is added to your credit record.
Wait the estimated time for a reply. Now the ball is again with the bureau. You must wait the estimated time that you established when you initially persuaded the bureau to remove the dings. In a few weeks the bureau should reply and may also send you an updated copy of your report. If your statement appears positive, you may be ready to start using your credit again.
Try again, remember persistence. Wait a few months and repeat the process. After the lapse of time the situation may have changed. See what happens when you try the creditor again. After a few months have gone by you may find a new person in the office who will be more cooperative and willing to help you regain a good credit rating.
Point out your prior track record. Be convincing that these problems are behind you and are not likely to recur.
In letters to your creditor, be factual, but appeal to the creditor’s sense of goodwill.
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Disclosure: I am an independent Credit Repair Cloud™ Affiliate, not an employee. I receive referral payments from Credit Repair Cloud. The opinions expressed here are my own and are not official statements of Credit Repair Cloud.