Poor Credit, Poor Richard

To get rid of poor credit, you need to make one small investment that brings great rewards. Get copies of your credit report from all three major credit reporting bureaus. This will help you to look at the bigger picture so that you can see what you have open, what needs to be paid, cancelled or even completely removed. You can assess the oldest ones first, making any collection companies are contacted and your options have been reviewed. It's best to contact them and make arrangements, than it is to completely ignore them. Explain your situation, and don't back down. When they demand money, tell them the truth and see if you can come up with a viable settlement offer. It's best to pay something than not to pay it at all. It is also wiser to get it settled than to have it go on your credit for ten years unpaid or ending up as a judgment against you.


If there is a judgment, attempt to pay that first. These are typically only going to be accepted as a paid in full arrangement, but you can certainly try. It usually depends on what they are. Try to make payment arrangements on the smallest debts first, because you can really backfire on your plan when you promise too much too soon. Again be honest; you already have poor credit, so don't stress yourself out when things aren't going to change before tomorrow. Pace yourself, focusing on one account at a time.



For more information on how to repair credit, you can go to www.fhaloansnow.net.

-Mayer Dallal