Credit Repair and Debt Settlement - Together, a Fresh Start
Imagine how you'd feel if your money problems were gone, if you were completely out of debt and if your credit report was looking good.
You probably don't dream about this kind of thing too often because it just seems unrealistic.
But if you truly believe it's impossible to resolve your credit problems and get out of debt-you're dead wrong.
In fact, thousands people are doing it every day.
It doesn't matter what your past credit is like or how much debt you have-if you're determined to really gain control over your financial life, there's a way to get it done--by combining credit repair with debt relief.
Credit Repair: What it Is and How it's Done You've probably heard at least something about credit repair, but have you ever stopped to think about what the process involves and how effective it is? Credit repair basically works like this: search • Your credit report's reviewed for information that may be inaccurate, incomplete or misleading • Anything questionable will be brought to the attention of the credit bureau or debt collector • The credit bureau or collector has about 30 days to verify or validate the information • If it can't be verified or validated, then it must be corrected or removed from your report This is known as a dispute process, or validation of debt (VOD).
It's what most credit repair companies focus on in their attempts to clean up credit reports.
The problem with these kinds of companies, sometimes referred to as a dispute mills, is that they frequently dispute credit report information that is known to be accurate.
Doing this is ineffective, at best, and illegal at worst.
Disputing information you know to true is a good way to complicate the repair process, in many cases can even get you sued.
That's why disputing is recommended if you feel there's a mistake of some kind that's hurting your credit.
For all other problems-such as unpaid debt-there are better solutions.
Debt Settlement Picks Up Where Credit Repair Leaves Off Once your credit report is true and accurate, you're probably wondering how to resolve all those other negative marks-most of them a result of unpaid debt.
There are a number of ways to approach your debt, but one that's probably worth considering first is debt settlement.
Let's face it-that unpaid debt is really hurting your credit.
And much of it will continue to be a problem for years to come.
While paying it off may seem impossible, negotiating a debt settlement can easily reduce the amount you owe so that you can finally pay it off for good.
The reason creditors and collection agencies are often willing to negotiate a settlement is because they realize they're not likely to collect anything at all unless they're willing to compromise.
Sometimes, it's possible to have them reduce the debt by as much as 60%.
Imagine how much easier it would be to pay these guys off if you only owed a fraction of the actual balance.
With debt settlement, this is a true possibility.
You probably don't dream about this kind of thing too often because it just seems unrealistic.
But if you truly believe it's impossible to resolve your credit problems and get out of debt-you're dead wrong.
In fact, thousands people are doing it every day.
It doesn't matter what your past credit is like or how much debt you have-if you're determined to really gain control over your financial life, there's a way to get it done--by combining credit repair with debt relief.
Credit Repair: What it Is and How it's Done You've probably heard at least something about credit repair, but have you ever stopped to think about what the process involves and how effective it is? Credit repair basically works like this: search • Your credit report's reviewed for information that may be inaccurate, incomplete or misleading • Anything questionable will be brought to the attention of the credit bureau or debt collector • The credit bureau or collector has about 30 days to verify or validate the information • If it can't be verified or validated, then it must be corrected or removed from your report This is known as a dispute process, or validation of debt (VOD).
It's what most credit repair companies focus on in their attempts to clean up credit reports.
The problem with these kinds of companies, sometimes referred to as a dispute mills, is that they frequently dispute credit report information that is known to be accurate.
Doing this is ineffective, at best, and illegal at worst.
Disputing information you know to true is a good way to complicate the repair process, in many cases can even get you sued.
That's why disputing is recommended if you feel there's a mistake of some kind that's hurting your credit.
For all other problems-such as unpaid debt-there are better solutions.
Debt Settlement Picks Up Where Credit Repair Leaves Off Once your credit report is true and accurate, you're probably wondering how to resolve all those other negative marks-most of them a result of unpaid debt.
There are a number of ways to approach your debt, but one that's probably worth considering first is debt settlement.
Let's face it-that unpaid debt is really hurting your credit.
And much of it will continue to be a problem for years to come.
While paying it off may seem impossible, negotiating a debt settlement can easily reduce the amount you owe so that you can finally pay it off for good.
The reason creditors and collection agencies are often willing to negotiate a settlement is because they realize they're not likely to collect anything at all unless they're willing to compromise.
Sometimes, it's possible to have them reduce the debt by as much as 60%.
Imagine how much easier it would be to pay these guys off if you only owed a fraction of the actual balance.
With debt settlement, this is a true possibility.
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