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LET ME BE CRYSTAL CLEAR: YOU have the power to repair your bad credit on your own.
YOU DO NOT need to pay a credit repair company to repair your credit.
In fact, there is nothing that a credit repair company can do for you to repair your credit that you cannot do for yourself.
All the steps that you will need to repair your credit on your own can be found online and the information is mostly FREE.
However, to be honest, after you begin the ‘do-it-yourself’ credit repair process, it may not be too long before you begin to ask yourself, ‘Is DO-IT-YOURSELF really worth it?’
Why do I say this?
Well, I say this because dealing with debt collectors and collection agencies can be quite aggravating, excruciating, and frustrating.
Not to mention, the time it might take for you to educate yourself on the rules and regulations that govern the credit and collection industry, such as:
- the Fair Credit Reporting Act (FCRA)
- Fair Credit Billing Act (FCBA)
- and the Federal Debt Collection Practices Act (FDCPA).
Then, there is the matter of knowing what to say and how to say it, when talking to a collection agent, so that you can make the best arrangement that benefits you the most.
If that were not enough, there will come a time when you need to write a few letters to your creditors, collection agencies, and credit bureaus, when communicating your terms and intentions.
*** It is very important that you get this one right, because there is an old saying in the credit industry: ‘If you cannot prove it in writing, it did not happen.’
Negotiations most likely will be initiated over the phone, however, it is crucial that any and all agreements between you and the collection agency be in writing and signed by an authorized agent, preferably a supervisor or manager of the creditor or the collection company.
Again, ‘If you cannot prove the terms and conditions of your agreement in writing, then it did not happen.’
Part of the negotiation process is making sure that the creditor, or their collection agent, properly report your paid account to the credit bureaus in a way that is most advantageous to YOU and to YOUR credit score.
This is just a preview of what you can expect when deciding to repair your own credit.
If you have the patience, endurance, wherewithal, and most importantly, the time to handle the credit repair process, then by all means… Do It Yourself.
However, if after you have given it some thought, and you feel that you are going to need some help to repair your credit report, consider taking a look at Lexington Law.
Goodwill Credit can help turn your bad credit into good credit and make your good credit even better. SUBSCRIBE NOW.
