Is there an easy way to fix bad credit? The answer is a resounding no. Whether you choose to fix your bad credit yourself, or hire a company offering credit repair services, it will not be easy. There is one sure thing about credit repair, it will be stressful and will take time.
While it is true that sometimes collection agencies are less willing to deal with people than with credit repair services companies. This is not always the case. Just remember that extra effort you are putting into repairing your credit is going to benefit you.
I am a firm believer in the fact that your credit didn’t get bad overnight, it’s not going to repair itself overnight either. One of the most important steps to repairing bad credit, after admitting that you have bad credit, is to get rid of the credit cards. Some people are addicted to credit cards, and they don’t know how they would live without them. Well many people live without them on a regular basis.
One method I have heard of that has potential is to stop paying your credit card debts. I mean let’s face it, anyone who has ever had credit card debt knows that you will never pay it off making minimum payments. So instead of making minimum payments, put the money in the bank, and let it accumulate for a few months.
It must be noted that this method must be followed up with contacting your creditor, usually once you have about one third of your debt to that creditor, and offering lump sum payment. Sometimes companies take your offer right away, sometimes you have to negotiate for a while. Either way it still takes time, determination and hard work to repair credit.
Once you assess your credit standing, you will know where you are now, and you should have a good idea of where you want to go. Then it is a simple matter of mapping out your route to get from where you are to where you want to be. It is important to decide whether a few missed payments now, in exchange for having the debt eliminated later is worth it. You don’t want to make your credit worse.
For starters, you can check out some of the forums for credit repair. This is a good place to tap into a wealth of information. You should be able to find information from all types of sources, from people who have gone through similar situations to credit repair specialists, and maybe even the odd lawyer.
Please remember this, if you remember nothing else. Research. That’s right Research. It is extremely important to research your alternatives as well as your legal rights and responsibilities.
My Dad is fond of a saying, measure twice and cut once. Well as it applies to fixing bad credit, it is Read thrice and act once. Reading can’t be overemphasized, make sure you understand what you are doing so you don’t make things worse.
One saying I have heard that rings true, is make choices and don’t look back. Decide on a course of action and move forward. Never mind wasting time trying to figure out what would have happened if you had made a different decision. It’s done, you decided now move forward from where you are.
The fact is that by researching, negotiating and hard work you can fix bad credit yourself. If you decide you don’t want to expend the energy, there are lots of companies that offer credit repair services. Either way your credit is in your hands.