Credit Repair Feels like a Stephen King Novel, Ends like a Disney Movie

Navigating the twisty turns from Millinocket to Norcross can be horrifying late at night when your engine is running on only three cylinders and your flashlight’s batteries are dead in the days before cell phones which don’t work out in the deep woods even today. 

Navigating the Fair Credit Reporting Act to the Fair Debt Collections Practices Act can be just as intimidating. 

Creating the right letter to send to the right person to settle a debt, without help of any sort, is not so simple as it sounds. I’m an attorney, and I didn’t want to do it either. What if the debt is now with a debt collector, such as Portfolio Recovery or Midland Funding, and the debt collector has sent letters to explain that they are now on the account, can the debt be settled with the original owner, such as Macy’s or Capital One? 

If Hunt & Henriques, Attorneys at Law, have already obtained a judgment for their clients, Cavalry Portfolio, what percentage of the debt would one likely have to pay in order to settle it? Or what if the judgement has been turned into a lien on the borrower’s home already, how much then? Will it be ridiculous? 

Maybe a bankruptcy would be better, and sometimes it is. But bankruptcy should be the last resort. If you have no resources, no extra car to sell, no 401k to borrow from, no jewelry left over from a previous or unrequited love, or no one in the family who might make you a low interest loan, or if the creditor won’t take a payment plan, (they seldom do) perhaps a bankruptcy is the right next step. 

But assuming bankruptcy is not right for you, knowing what to do next to restore credit to its good health is important. Buying a car might have to be put on hold, or buying a house might never happen. Paying for a vacation might have to wait years because all the money that would have been saved for the vacation is going to pay high interest rates on the car and truck so mom and dad can get to work. 

On the other hand, credit repair could be as simple as that there are not enough good things on your credit reports. I remember when I realized that once all the bad things were off my credit reports that there was basically nothing left on them. My credit reports looked like I was a high school graduate. I had to open a couple of credit cards in order to make things right.

So I went to my own bank and gave them $1000 and they gave me a credit card with a $1000 credit line. It’s called a secured credit card. For me that was step two in the credit restoration process, adding good trade lines to my credit reports. You can do it with a lot less money than $1000, usually you can start with as low as $300. Then, after using the card, don’t pay it off all at once, pay it off over three (3) months instead. Save up the amount of the credit line, buy the thing for that much money, and then pay it off in thirds. 

Credit card companies prefer to see that  a customer actually needs the credit card before they increase a customer’s credit line. 

Do that a few times and your credit line will increase over a year or two, and so will credit ratings increase over that year or two and if you do it with at least two accounts, there’s a big boost to all credit ratings in not much time at all. 

There are plenty of other things you can look at to attack on your credit reports and other things to nurture. Do them all at once and you can raise your credit rating by tens to hundreds of points over relatively short periods of time. 

With the right guidance, your end result can be as rosy as any Disney movie happy ending.

And yes, I do get paid a small commission for referring you to the same credit repair guide that the pros use. And yes, of course you should buy it. Buy the Attorney’s Guide to Credit Repair for that guidance. 

I Refuse To Pay And You Can’t Make Me

Is your financial situation murky and cloudy?

You’re not entirely remedy-less. Under the Fair Debt Collections Practices Act or FDCPA, did you know that a refusal to pay carries the implicit instruction to consumer collection agents to cease and desist all contact with you by telephone? It does. It works the same as the cease and desist notice which is also part of that code.

But many creditors don’t realize that this is so. Rather than sending a cease and desist notice, why not send a refusal to pay? And if you send “I refuse to pay and you can’t make me,” as your refusal, the collectors will probably violate the cease and desist portion of that refusal to pay within only hours or days of receiving the refusal to pay and perhaps do it a couple or even several times.

Under the FDCPA if a creditor violates the cease and desist notice, they can be subject to owing to you, $1000 per violation. In a short time, they might owe you more than you owe them.

According to the code you do have to sue them to get them to pay you, but the least you have is leverage. The fact that they have violated the law can be used to settle out of court. Let’s call it even, more or less. Under the FDCPA you also have an attorney’s fees clause in the code, so that if your collectors won’t settle and you have to sue, then they have to pay your attorney to sue them. This is of course my favorite part of the code.

While you’re doing this, you should also be paying attention to your credit rating. Credit repair isn’t as complicated as many might say. It does take some effort on your part, but you can do it yourself, affordably and quickly. As you repair your credit, you will need a road map, or a guide. Doing it yourself is tricky if you truly try to do it with no help at all. I’ve read the code sections in the Fair Credit Reporting Act and they are on your side. They provide the framework for your successful repair of your credit. However, they don’t tell you how to write the letters or truly explain the content required to be successful.

I wish I could say that I had written the guide you need to use to repair your credit, but at least I can refer you right to it. The Attorney’s Guide to Credit Repair is exactly what you need to effectuate your credit repair. It’s easy, fast, affordable and it works, provided that you do the work.

Yes, I do get paid a commission when you buy the Attorney’s Guide to Credit Repair, and yes, you should buy it.