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Thread: How to erase bad credit |
    
New member Username: Epeguese
Post Number: 1
Registered: Aug-08
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| Posted on Monday, August 25, 2008 - 07:05 pm: |
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Do anyone know how to erase negative items off of your credit. I have a friend who paid someone to do it for her and it worked. She ended up getting a 2008 charger with no money down and her credit was shot. I don't want to pay all that money so I want to learn how to do it myself. Can anyone help. |
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Platinum Member Username: Wingmanalive
A pic is worth
1000 posts!!
Post Number: 17915
Registered: Jun-06
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| Posted on Monday, August 25, 2008 - 07:41 pm: |
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How "bad" is bad? Are we talking about a few delinquencies or major problems like bankruptcy or foreclosure?
Years ago Ameridebt and companies like it hit the nation by storm by promising to ease the financial burden millions of Americans took on with their credit problems. After all it dictates your ability to own a home, car, even employment in some companies. From what I remember they agree to take on your creditors and negotiate a lower interest rate or even forgive part of the debt and back fees in hopes of receiving any restitution. The problem is they charge a fee (even when they promise that they are a non-profit orginization). Unless they work a miracle you could wind up paying back more than what you originally owed. All for something you can/should do on your own.
You can call and talk to your creditors yourself. Ask to have even one of their credit counselors review your situation. Alot of times by simply calling them and asking can reward you with a lower interest rate. I do it once a year.
Once you come to good terms and establish a positive history (I say at least 6 months) you can climb out with their help. They don't want to send your account to a collection agency. That costs them more money.
Any other "to good to be true" stories are simply that. Ok, not all but in this world of "opportunists" I can only trust me, myself and I.
And not necessarily in that order.  |
Gold Member Username: Naledge503
Portland,
Or
Post Number: 4142
Registered: Jun-06
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| Posted on Monday, August 25, 2008 - 08:12 pm: |
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I would buy the book from the ad in the middle of this thread and start there.  . lol |
Platinum Member Username: Wingmanalive
A pic is worth
1000 posts!!
Post Number: 17921
Registered: Jun-06
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| Posted on Monday, August 25, 2008 - 08:20 pm: |
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That book came out one year b4 I graduated high school. |
Gold Member Username: Pitbullguy
The Chicago area
Post Number: 3470
Registered: Oct-06
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| Posted on Monday, August 25, 2008 - 08:23 pm: |
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"That book came out one year b4 I graduated high school."
Uhhh no Pauly that's an eight, not a three.
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Gold Member Username: Naledge503
Portland,
Or
Post Number: 4143
Registered: Jun-06
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| Posted on Monday, August 25, 2008 - 09:14 pm: |
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Gold Member Username: Adddisorder
Palm Beach,
Florida
Post Number: 6357
Registered: Jan-06
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| Posted on Monday, August 25, 2008 - 10:15 pm: |
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Why dont you just ask your friend. |
Gold Member Username: Goodie_goop
Mid town,
Texas
U.S.
Post Number: 1013
Registered: Oct-06
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| Posted on Monday, August 25, 2008 - 10:21 pm: |
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^^ lol thats what i was about to say |
Platinum Member Username: Wingmanalive
A pic is worth
1000 posts!!
Post Number: 17924
Registered: Jun-06
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| Posted on Monday, August 25, 2008 - 10:33 pm: |
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Thanks guys for making an older guy feel old lol. |
Gold Member Username: Pitbullguy
The Chicago area
Post Number: 3471
Registered: Oct-06
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| Posted on Monday, August 25, 2008 - 11:24 pm: |
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"Thanks guys for making an older guy feel old"
lol sorry I couldn't resist. You're really not old at all. Just barely starting to hit your prime in fact |
Silver Member Username: Justforhahas
Post Number: 165
Registered: Jul-08
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| Posted on Tuesday, August 26, 2008 - 09:57 am: |
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You can never ERASE bad credit, unless there's erroneous info on your credit reports, which you can dispute in writing. Also you can always add a letter explaining why something may be late, delinquent or whatever to your credit reports. This will be shown to all who inquire about you.
When having bad credit, the best thing someone can do is try and re-establishing GOOD credit again, by taking out a loan, or a SECURED credit card (pay cash up front to the bank and use their credit card, like a self little kitty fund) and make payments monthly. Time and establishing good credit are the only things that will fix bad credit.
Many companies (WE FIX YOUR CREDIT) will charge you for this advice about SECURED credit cards, but you can do it yourself by a talk to a bank officer or a written letter of 150 words or less to a bank. There are many banks who will give you a secured credit card.
Also as mentioned, consolidating bills, and talking to your debtors is sometimes very helpful. The worse thing someone can do is "duck" the ones you owe. They can really make your credit even worse. |
Silver Member Username: Justforhahas
Post Number: 166
Registered: Jul-08
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| Posted on Tuesday, August 26, 2008 - 10:04 am: |
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Also about your friend and the car and no credit. People who file bankruptcy are the FIRST ones who loan companies and credit cards will give money to. They love people who have filed bankrupcy. Those people get offers by the truckloads, daily in the mail. That may have been the case with your friend or he/she had a co-signer. |
