Bad Credit Repair teaches Tim from Idaho how easy it (can be) to face up to and overcome bad credit challenges…that is, once Tim gets REAL about credit repair!

Tim, it’s your lucky day!

You’ve come to the right place for improving your credit and getting your “good credit” life back.

You really can improve your credit with good information and a solid game plan.

You do NOT have to clean up everything bad on your reports to get whatever it is you want from from “good” credit.

You simply NEED to do enough so you can get whatever it is you want from “good” credit.  This is what I told Tim from Idaho, who asked me for help.

WHAT YOU DON’T KNOW ABOUT CREDIT REPAIR CAN HURT YOU!

Tim, like many other people, believes credit repair only  is about finding the magical dispute letter. Firing off dispute letters WITHOUT strategy can get you sued!

Unfortunately, Tim makes other potentially dangerous assumptions about credit repair.

Question: Dear Mike, I am 39 and I want to face my bad credit. I don’t know exactly (yet) how bad it is but I know it’s in the 400s. Most of my debts are 8 years and older. I plan to have a buddy who works at a bank pull my credit for me. I want to find specific information on how to remove old debts from my credit report. (ex. To whom do I write my letters? What should my letters say? What exactly should I do, step by step?). I have heard about secured credit cards for improving credit. What do you recommend? Most of my debts 8 years and older are cell phone bills, appliance store credit, medical bills etc. . Thank you in advance for your help. I look forward to improving my life, with your help. –Tim, Idaho

Answer: Tim, do NOT allow your buddy to pull your credit reports…EVER! This has nothing to do with how close your buddy and you are. Instead, when someone else pulls your credit, you get penalized. Additionally, a bank pulls what is called a “tri-merge.”

Now, to have scores in the 400s, you must have other bad credit reporting OR you have no active credit in good standing.

• The older the bad credit, the LESS impact it has on your scores.

You say “most of my debts are 8 years and older.” These debts (probably) are BEYOND the statute of limitations on collecting. Do you understand what I’m saying about statute of limitations?

I don’t know in which state you live and/or incurred these debts. Confirm SOL in the state in which you LIVE.

Once you confirm no court action against you, dispute with ALL credit bureaus reporting (derogatory) credit account information. Steve mentioned disputing.

• However, do NOT expect credit reporting agencies to delete unverifiable or inaccurate account information from your reports w/o a fight. Fight?

Understand this, the BIG 3 make money (TONS of money) off bad credit reporting. They do NOT surrender this money w/o a fight…that is, firing back “verified as accurate” response letters. What do you think most people do when they receive a “verified” response letter?

That’s right…they give up their dispute despite being in the RIGHT! Credit bureaus WIN; consumer LOSES!

Step 1: Grab INDIVIDUAL copies of EACH of three bureau reports. They’re free. You won’t get your scores free, however. To discover how EACH bureau is reporting EACH account, you need to compare each account on each bureau’s report.

Regarding secured credit cards, I only agree (if)… you use the card & PAY OFF the balance EACH month. The other day, CNN reports First Premier Bank (a big player in “bad credit” credit cards) assesses customers 72% APR.

72%!!!!!! Absolutely do not carry a balance and this absurd APR will not matter to you.You have to be careful before applying for and accepting any secured card. Without question, all secured cards are not created alike.

Check out my CD for answers to your other common questions I get, 8 SECRETS TO A 680 CREDIT SCORE! Go to the top right of this page and enter your email address to check it out.

It’s likely you have more recent bad credit reporting, causing ugly scores in 400s. Otherwise, you have no active (good) credit countering the old, bad credit.

Hope this helps you, Tim, and everyone else seeing

Mike

Bad credit repair BEGINS with good information and a solid game plan. Clearly, you can do it on your own, and you do NOT need A+ credit to get whatever you want from “good” credit. That’s the best part. Please scroll down to the box to offer your suggestions to Tim. What works or doesn’t work for you?

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