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Debt Settlement is an alternative to bankruptcy.



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  1. Back to Home>>Helpful Links>>Credit Report

    Credit Report

    When you first learn how the three major credit bureaus work, you may react with a mix of disgust and exasperation. These private organizations maintain vast databases of consumer information. To correct mistakes in these databases, consumers must often jump through many hoops and spend considerable time.

    While it’s possible to debate the usefulness of TransUnion, Experian, and Equifax until the cows come home, it serves you no good to rail about how “the system is broken.” The fact is, the system exists. Just accept that it is what it is, and figure out how to maneuver within it to best effect.

    1. To that end, your biggest challenge is education.

    Learn how the credit bureaus operate by reading about them. Take the measure of your own credit by ordering your free reports every year through annualcreditreport.com.

    Not all creditors report actions to all credit bureaus. For instance, if you owe a balance on a MasterCard account, this balance-due may show up on your Experian and Equifax reports but not on your TransUnion report. Thus, it’s good to check all three reports on a regular basis and to cross-check them with each other.

    1. Go over your credit reports with a fine-toothed comb.

    Errors on these reports often abound. It can be maddening to find that a clerical error has cost you 30 or more points on your FICO score. But again, deal with the reality of credit repair, not credit repair as you wish it could be. Once you’ve identified all errors, inaccuracies, and other items you wish to fight, write to the bureaus contesting each mistake. Provide documentation. Keep back-ups of all correspondence for reference. Send letters via registered mail, so you get official notices that you’ve sent your correspondence.

    1. Don’t expect your bad credit rating to be fixed overnight.

    Expect the bureaus to be sluggish, and follow up accordingly. Keep hammering away by sending additional correspondences and by contacting your creditors to get them to remove or “unreport” mistakes or inaccuracies.

    1. Take action to build your credit.
    Even if you’re recovering from bankruptcy, you can still win points with the bureaus. For instance, you can take out what’s known as a “secured credit card,” which is so-named because it’s backed by a cash deposit. You can also hitch your credit to the credit of another person who’s in better standing with the bureaus. Finally, remember the old saying that “time heals all ills.” This is true for credit repair as well. Even the blackest of black marks–Chapter 7 bankruptcy–evaporates from your credit report after a decade.
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Individual results may vary and are based on ability to save funds.
Debt Settlement program does not assume or pay any consumer debts, and does not provide tax or legal advice.
Program is not available in all states. Please read and understand all contract terms prior to enrollment.

Our program is available in the following states: Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Mexico, New York, Oklahoma, Pennsylvania, Puerto Rico, Rhode Island, South Dakota, Texas, Utah, Virginia