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How to erase bad credit

 

New member
Username: Epeguese

Post Number: 1
Registered: Aug-08
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.
 

Platinum Member
Username: Wingmanalive

A pic is worth 1000 posts!!

Post Number: 17915
Registered: Jun-06
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
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
That book came out one year b4 I graduated high school.
 

Gold Member
Username: Pitbullguy

The Chicago area

Post Number: 3470
Registered: Oct-06
"That book came out one year b4 I graduated high school."


Uhhh no Pauly that's an eight, not a three.






 

Gold Member
Username: Naledge503

Portland, Or

Post Number: 4143
Registered: Jun-06
 

Gold Member
Username: Adddisorder

Palm Beach, Florida

Post Number: 6357
Registered: Jan-06
Why dont you just ask your friend.
 

Gold Member
Username: Goodie_goop

Mid town, Texas U.S.

Post Number: 1013
Registered: Oct-06
^^ lol thats what i was about to say
 

Platinum Member
Username: Wingmanalive

A pic is worth 1000 posts!!

Post Number: 17924
Registered: Jun-06
Thanks guys for making an older guy feel old lol.
 

Gold Member
Username: Pitbullguy

The Chicago area

Post Number: 3471
Registered: Oct-06
"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
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
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.
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