Paul Chehade - Master Tips About Credit Repair That Really Work

By Author: Paul Chehade
Total Articles: 44
Comment this article

Paul Chehade - Master Tips About Credit Repair That Really Work.

Do you lose sleep over the state of your credit report? The sound advice above will help you repair your credit and be proud that you are financially responsible again.

An imperfect credit rating can make financing a home even more difficult than normal. In this situation, it is a good idea to try to obtain an FHA loan, because these loans are guaranteed by the federal government. FHA loans offer lower down payments and help with closing costs.

Do not do anything that will make you end up in jail. You should steer clear of internet programs that show you how to clear your credit. This is illegal and you'll get caught. Think of the legal costs and the possibility of doing hard time.

The first step in repairing your credit involves a thorough and careful check to ensure your credit report doesn't contain erroneous information. Any mistakes, such as in the amount owed or the date the agreement was entered, could result in the removal of the entire negative trade line on your credit report.

Any time you establish any payment plan ...
... with any creditor, make sure you get it in writing. This will protect you should the company change its policies. Once the debt is fully paid, you need to get a statement verifying this from the creditor and send it to each of the major credit bureaus.

Bankruptcy should be a last resort. Bankruptcies appear on credit reports for ten years. Though it may seem necessary at the time, you should weigh the costs over the next ten years before you decide to go through with the filing. If you choose to file bankruptcy, you'll be unable to get a credit card or loan in the future.

You need to read and understand the credit card statements you receive in the mail. Make sure that all of your fees and charges are correct and that there are not any items that were not authorized by you. You are the only person that is responsible for making sure the statements are error free.

Credit cards should be avoided. Do all of your spending with cash or debit cards. Pay off any credit card purchases immediately.

Debt collection agencies can be the most stressful part of a bad credit crisis. Cease and desist documents can be used to hold back collection agencies, but only to stop harassment. Sending the letter does not mean you no longer have to pay the bill, it only stops the collection agency from calling.

An instant solution to your problems is usually too good to be true, especially when that solution is some kind of "magic" debt relief being offered by a lawyer. Because so many people these days suffer from credit problems, attorneys and scam artists have come up with ways to charge a high price for repair schemes that can be illegal and useless. Do your research before calling any lawyer for their help.

As you have seen, no longer does your credit does not have to be something that keeps you up at night. You can fix your credit and not let it bother you anymore. If you do the tips listed here, you will surely get a good credit report that lots of people dream of.

Paul Chehade
Solidary Foundation

http://www.solidary.org

# # #

http://www.solidary.org