Repair Your Credit The Right Way
I have to tell you something, there really is no right way, but there is
a wrong way.
I know it sounds like 'gobbly-gook' but the credit bureau's are not interested
in correcting errors on your credit reports. They will after a time if you
persist and follow through correct glaring mistakes.
Don't fall for the credit repair trap where shady companies offer a new
'identity' or reduce your debt by 75%. Or consolidate your debt. However,
in some cases, it makes sense to consolidate if you can reduce your overall
interest rate and not take all the equity out of your house to doing. See
your accountant before proceeding.
The best organization to help if you credit card debt is over $10,000 is
Consumer Credit Counseling. You can find your local chapter in your phone
book or go online to:
The bottom line is this, if you are over $10,000 in unsecured debt (usually
credit cards, personal loans, store charges), consider filing for bankruptcy
if you are unable to pay a minimum amount. Maybe you have been laid off,
have an illness or other tragedy that through no fault of you own, you wound
up with heavy debt that is making your life miserable. You situation is
exactly why the U.S. has provided bankruptcy for its citizens as a method
of relief from creditors.
Whatever you do, realize that there are millions of others in the same boat
or even worse, and there is relief from the crushing burden of debt if you
just take some positive action.