Looking forward to the day when you’re finally debt free? We don’t blame you. Being in debt isn’t just a drain on your finances, it’s an emotional drain as well. It makes you lose sleep and neglect other financial priorities like saving for a down payment on a home or preparing for your retirement. The good news is that you don’t have to tackle your debt alone if you don’t want to.
Each of the following templates is independent of one another, with the exception of Template #4, which is a general follow-up to any of the first three letters. The first three letters are simply variations of the same basic idea, with slight differences in verbiage and tactic. You might decide to choose one complete template to follow, or create your own combination of the three depending on how you would like to approach your letter.
Considering how important credit scores are to your overall financial well-being, it's wise to do everything you can to ensure yours are as good as possible. Regularly checking your credit report and credit scores are the critical first step. When you check your credit score from Experian, you'll see a list of specific factors affecting it. Focusing on those factors first is the best way to start improving your credit scores.

One of the main advantages of a debt consolidation loan is eliminating the task of paying multiple lenders each month. When you consolidate all your existing debt into one new loan, you only have to make payments to your new lender. Making only one payment is not only easier, but it can save you from dealing with late and missed payments—which can occur when juggling multiple different payments each month.


Fast Track Debt Relief says they work to settle unsecured debt within 36 months. Our first concern was the length of time that may mean creditors would be harassing us while payment were not being made. Most of the program details are provided through a debt expert that will call to discuss your personal situation. To get started you must provide your name, phone numbers, email, amount of debt, location and whether you own a home or not. After waiting up to 24 hours you will receive a phone call - which may or may not be at a time that is convenient for you to discuss your situation and their program.
Fair and Accurate Credit Transactions Act (FACTA) - was enacted in 2003 to amend the Fair Credit Reporting Act, to prevent identity theft, improve resolution of consumer disputes, improve the accuracy of consumer records, make improvements in the use of, and consumer access to credit information. You can view a summary fact sheet on FACTA provisions at the Privacy Rights Clearing House Organization website here.
Unfortunately, there’s no way to predict in advance how long it will take to repair your credit, as every credit report is unique. That being said, we help hundreds of thousands of people each year work to repair their credit, and typically they’ve stayed with us for six months. With our team of professionals, credit monitoring software and mobile app dashboard, our removal process is streamlined to get you results.
You have legal rights that protect you from credit bureaus, creditors and credit collectors. That includes your right to obtain all the proof the other party has about these negative items, your right to be treated fairly and your right to be left alone and not pestered by credit collectors. But you may lose these rights if you don’t correspond in writing.
PLEASE NOTE: Some people are not clear regarding the limitations of credit repair software. Just know that credit repair software can NOT legally pull consumers’ credit reports or load them directly from the credit bureaus. One must have a permissible purpose to do so, and a credit repair company does not fit this legal standard. They can import them in using a couple of credit monitoring services that can display what is negative or positive, including public records.  Therefore, credit repair software is an effective management tool for a growing company, but only if you are fully trained in this business.
While negotiating with your creditors could be a very good solution most Americans are unable to do this as they simply do not know what to do. This is a case where the expertise and professionalism required to negotiate for new payment terms is often best left in the hands of those who know what to do. Otherwise, the desired results may not be achieved.
When you register for an Experian account, you'll receive a new free credit report every 30 days at sign in. Similarly, when you sign up for a myEquifax account, you'll get free access to six additional credit reports each year. TransUnion will redirect you to AnnualCreditReport.com to order your annual free report. However, if you would like an additional TransUnion credit report, and you don't qualify for a free or reduced rate, it will cost $11.50.

A few signs you're dealing with a shady credit repair company: they ask you pay upfront before any services begin, cite an affiliation with the government or special relationship with the credit bureaus, promise a specific credit score, promise to delete accurate information from your credit report, fail to inform you of your right to dispute information directly with the credit bureaus, or ask you to waive your rights under the Credit Repair Organizations Act.
If you’re looking for the fastest, cheapest exit possible without the expense of bankruptcy, settlement may be the best choice. Keep in mind that bankruptcy isn’t free. The filing fee for Chapter 7 is $335, then you’ll also have fees for your attorney. This is why it’s important to have the right filing expectations before you take your case to the courts.
Any attempt to game the system to get a better score faster is usually illegal or at least inadvisable. For instance, opening a new credit file with a different Social Security Number is fraud. Obtaining an Employer Identification Number (EIN) to get a new profile as a business is also illegal. If a company tells you to do this, it’s a scam! Report them immediately to the FTC.
A chance to start over. The anxiety of dealing with debt everyday crushes people’s spirits. Choosing the debt-relief option that gives you a way out of debt is a life-changing experience. Nothing feels better than second chance, an opportunity to right the wrongs and prove you’ve learned from experience. Bankruptcy, despite its reputation, will do that. A successful Chapter 7 or Chapter 13 bankruptcy breathes life back into consumers. It brings hope that the lessons you’ve learned about finances can take the stress out of your life.
Your appointment will start with you giving a brief overview of your financial situation and what you hope to gain from the counseling process. With that in mind, your counselor will conduct a thorough review of your worksheet. If more money is going out than coming in, your counselor will work with you to figure out a way to close the gap. Together you will decide which expenses are essential and which can be reduced or even eliminated. Other recommendations may include selling unnecessary assets or increasing your income by getting a new or second job.
* Estimated savings are calculated based on the credit profiles of all loans originated by our Partners using the Upstart Platform as of July 1, 2020 in which the funds were used for credit card refinancing. Estimated savings are calculated by deriving current credit card APR using minimum monthly payment and 1% of the principal balance. The estimated credit card APR is then compared to the accepted loan to determine median savings per borrower. To evaluate savings on a loan you are considering, it is important to compare your actual APR from your existing debt to the APR offered on the Upstart Platform. 

This is the simplest form of consolidation. With this form of consolidation, you’re simply moving all your credit card debt onto a single card or payment. This means that you don’t have to worry about making multiple payments or potentially missing some payments. If you want to make your life easier, this is often a good option. This form of consolidation typically doesn’t save you money, just time.
Late fees and other penalties. If you are not actively paying down your debt, the lender will assess late fees and raise the interest rate so that your debt actually grows. Again, this applies specifically to debt settlement, but could happen with late payments in either a debt management program or debt consolidation loan. Be aware that not making at least minimum payments on your debt each month is going to cost you.
It takes time to rebuild a bad credit history. Your credit score considers your most recent credit history more significantly than older items. A good credit history typically has a minimal number of negative entries and lots of recent positive credit information. A few months of on-time payments is a step in the right direction, but it won't give you excellent credit right away. As time passes and the negative information falls off or gets older, and you replace it with positive information, you'll see your credit gradually improve.

If a child was in day care for the remaining nine months of their first year, it would cost another $8,565, on average. This amount varies widely, depending on where a parent lives and the child care options available. In Mississippi, for example, nine months of child care costs $4,077, on average, while in Washington, D.C., it costs an average of $18,182. [7]
If you find information that is incorrect, you can file a dispute. Remember too, that items on your credit report that you don't recognize could also be potential signs of fraudulent activity — someone working to secure credit in your name for their own use. Make sure you're clear on items that could potentially be fraudulent, versus those that may simply be inaccurate.
Before you consider applying for a loan, one option is to use a debt management plan to consolidate your monthly debt payments. With a plan like this, you must first find a credit counselor and work with them to formulate and stick to a repayment plan. Once you and your counselor agree on a plan, they will often try to negotiate with your creditors to see if they can get you a lower monthly payment and sometimes a lower interest rate.
Franklin Debt Relief is located in Chicago, Illinois and was incorporated in 2006. They work with clients that have unmanageable unsecured debt but do not specify the minimum requirement. The website is user friendly and informative despite some unprofessional typos. Franklin Debt Relief focuses on debt settlement services and does a good job of outlining the different lingo and terminology often used in the practice of debt relief.
Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of personal loan lenders for all borrowing needs. We collected over twenty five data points across more than fifty lenders including interest rates, fees, loan amounts and repayment terms to ensure that our content helps users make the right borrowing decision for their needs.
Why LendingClub stands out: LendingClub allows co-borrowers on its loan applications, which may improve your chances of qualifying for a debt consolidation loan if you’re having difficulty qualifying on your own. As a peer-to-peer lender, LendingClub is a platform that connects people who want to lend with other individuals who want to borrow money.
First, you don’t need a degree or a special government license to be a credit repair specialist. However, it is very important to in compliance and be a member of a non-profit credit repair trade association that ensures high standards and policies in the industry as suggested by the CFPB and FTC.  They have encouraged this industry to police themselves. There are two great non-profit associations that support credit repair industry standards: the Credit Consultants Association (CCA) and the National Association of Credit Services Organizations (NACSO). These organizations have two different approaches to certification.

Some states have state laws regulating credit repair organizations in addition to the federal laws. Many states prohibit any payment by the client prior to the credit repair organization rendering services. Some state laws define terms and reiterate business and financial industry laws as they relate to the credit repair organizations operating within their state. You should become familiar with the state laws for each state within which your credit repair organization operates.


With so much fast, easy, available credit, it’s easy to lose track of everything you owe. That’s why debt consolidation loans are so attractive. They are simple and effective ways of paying debts, one payment per month, replacing and consolidating all other debts. In some cases, that means clearing the balance and closing old accounts. People with bad credit history and a lot of debt see them as the answer to managing their debts and repairing their credit score. However, bad credit customers often find they are not eligible for some types of debt consolidation loan. Usually, this is because of their credit history.
If your finances aren't where you'd like them to be, it's easy to let your credit score spiral out of control. After all, your payment history is the most important factor that makes up your FICO score, meaning just a few late payments can cause your score to plummet. Accounts in default and collections can hurt your score further, along with the total amount you owe in relation to your credit limits. And when you hurt your credit score, you're damaging your chances of getting approved for new lines of credit, or for getting a favorable interest rate when you apply for a loan.
Credit card debt consolidation can help simplify or reduce your monthly credit card payments, which can help you save money each month. There are multiple ways to consolidate credit card debt — and determining the method that’s most beneficial for you depends on how much you want to pay off, what your current financial situation looks like and how strong your credit history is.
We’ve heard from many customer reviewers of their dissatisfaction when they didn’t see results in the first month (or two). This is a common complaint not just with Lexington Law, but many other credit repair agencies. Our advice: be patient & stay in communication with the firm you’ve hired. The first 4 months after hiring an agency should tell you enough about whether the firm’s services are working for you.

Step 2: Tell the creditor or other information provider, in writing, that you dispute an item. Include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if the information is found to be inaccurate, the provider may not report it again.


Debt settlement programs typically are offered by for-profit companies, and involve the company negotiating with your creditors to allow you to pay a “settlement” to resolve your debt. The settlement is another word for a lump sum that's less than the full amount you owe. To make that lump sum payment, the program asks that you set aside a specific amount of money every month in savings. Debt settlement companies usually ask that you transfer this amount every month into an escrow-like account to accumulate enough savings to pay off a settlement that is reached eventually. Further, these programs often encourage or instruct their clients to stop making any monthly payments to their creditors.
Receive access to medical, dental, and other health care services on a low cost, or sliding fee scale. Community Health Centers, Inc. (CHC) is the organization that runs the program and local clinics, and these facilities are available to all local community residents, regardless of their income, financial or health insurance status. The CHC clinic organizations offer patients access to a reduced sliding medical fee schedule based on a person's total household income and family size. This facility is a non-profit organization that provides patients with access to preventive dental, medical,  and pharmaceutical services at ten practice locations throughout Central Florida, including and Leesburg and Lake County. Call the center at (352) 435-6699.

For many people, wood windows are the only way to go from a beauty standpoint. Restorations Windows give you the beauty that you demand while also giving you the performance characteristics that are a must. And, unlike wood windows, Restorations Windows offer so many customizations that you can rest assured that your project will reflect your unique personality.
If you’re thinking about filing for bankruptcy, be aware that bankruptcy laws require that you get credit counseling from a government-approved organization within six months before you file for bankruptcy relief. You can find a state-by-state list of government-approved organizations at www.usdoj.gov/ust, the website of the U.S. Trustee Program. That’s the organization within the U.S. Department of Justice that supervises bankruptcy cases and trustees. Be wary of credit counseling organizations that say they are government-approved, but don’t appear on the list of approved organizations.
“You may be able to reduce your monthly payments via lower rates and long repayment terms,” says Kevin Haney, a former sales director for the credit bureau, Experian, who now runs SavvyonCredit.com, a credit information/education site. “You could very well have the luxury of stretching your repayment over 20 years. But there is down side: You’re borrowing against the equity of your home. If prices drop, you may owe more on the house than a new buyer is willing to pay. And by stretching payments over 20 years, you could end up paying more than you otherwise would in total interest.” Bottom line: Do the math to see if you’ll come out ahead.
3. Because debt settlement programs often ask — or encourage — you to stop sending payments directly to your creditors, they may have a negative impact on your credit report and other consequences. For example, your debts may continue to accrue late fees and penalties that can put you further in the hole. You also may get calls from your creditors or debt collectors requesting repayment. You could even be sued for repayment. In some instances, when creditors win a lawsuit, they have the right to garnish your wages or put a lien on your home.
If we can stress any point more than anything- do not forget to make a payment. If you miss a payment in effort to pay off another line of credit, this can debilitate your credit score more than you think. There have been cases of people claiming a decrease in credit score up to 100 points, which has also been confirmed by Equifax. If you are in a situation trying to pay off multiple loans, start small and tick with the minimum payment. Build a budget where you can effectively manage all your bills and ensure that each of them get paid. Only then can you consider putting more money aside for to eliminate debt quicker However, you should never sacrifice an on-time payment for anything. Otherwise, you are sacrificing 35% of your total credit score.
Debt consolidation is the process of combining all of your unsecured debts into a single monthly payment. This might be done with a debt consolidation loan. The loan is used to pay off your debts, then you pay off the new consolidation loan rather than dividing your payments to your creditors. You may be able to take out a debt consolidation on your own using a home equity loan or a debt consolidation loan from a bank.
Chase Sapphire Reserve – Chase has expanded the $300 annual credit, with the remaining balance automatically applied to purchases at grocery stores and gas stations starting June 1 until 12/31/20. (Annual fee is $550; renewal annual fee lowered to $450 from Aug. 1 through 2020. Cardholders with a renewal date from April 1 through July 31 receive a $100 statement credit to offset the annual fee.)
Great article Sarah! Being in good standing on a single loan or credit card is a great start; but diversifying your profile may help. Having a mixture of credit cards, student loans, installment loans (i.e. a car loan, personal loan, mortgage, etc.) may improve you boost your score. The key is to have different forms of credit that are all in good standing!

Lexington Law offers three levels of service depending on your credit needs for $89.95, $109.95, or $129.95 each month after services are delivered. PremierPlus, the firm's most comprehensive service level, bolsters our essential credit repair services with FICO® Score tracking and analysis, tools to protect and manage your identity and finances, and additional legal interventions for abusive third-party debt collectors.
If that doesn’t work, the second-best situation is a pay-for-delete in which you agree that in exchange for payment – either partial or in full – the collector will remove the negative listing from your credit reports. Don’t count on this, though. According to CreditCards.com, only “roughly 10 percent or so of collection agencies will agree to a pay-for-delete.”

Upon execution of the contract as provided in s. 817.704 or agreement between the buyer and a credit service organization and before the receipt by the credit service organization of any money or other valuable consideration, whichever occurs first, the credit service organization shall provide the buyer with a statement, in writing, containing all the information required by s. 817.703. The credit service organization shall maintain on file for a period of 5 years an exact copy of the statement, personally signed by the buyer, acknowledging receipt of a copy of the statement.
You’ll use your own money as collateral by putting down a deposit, which is often about $150 – $250. Typically, the amount of your deposit will then be your credit limit. You should make one small purchase each month and then pay it off on time and in full. Once you prove you’re responsible, you may be able to get back your deposit and upgrade to a regular credit card.

 Airline credit cards carry the name of a specific airline. When you use them, you earn miles that you can redeem for free flights or upgrades on that airline. These cards don't offer a lot of flexibility in terms of how you can use your rewards, but they really pack in value with exclusive perks — free checked bags, priority boarding, airport lounge access and more. See our best airline credit cards.
If you purchased your home using a VA home loan, you are eligible to get an MDCL. It’s a loan that borrows against the equity in your home. The MDCL is a cash-out refinance mortgage that pays off your original loan and then gives you the cash difference in equity. So, if your home is worth $120,000 and you owe $80,000 on your original VA home loan, the MDCL gives you a loan for $120,000. You get the $40,000 difference back and can use the funds to pay off debt.
Whether you have good or bad credit is based on the information in your credit report. However, it's difficult to look at your credit report and tell whether your credit is good or bad. That's why watching your credit score is useful in credit repair. A low credit score indicates a poor credit history that needs work. As your credit score improves, it's an indication that your credit history is improving.
The effect of debt relief on your credit score depends on which option you use. Any solution that pays back everything you borrowed should have a neutral or positive impact on your credit. Reducing interest charges or eliminating fees does not result in credit damage. On the other hand, any solution that gets you out of debt for less than the full amount owed damages your credit score.
Tax man awaits. If you have debt forgiven, that probably will count as taxable income and should be reported on your federal income taxes. The lender who forgives the debt should send you a 1099-C tax form detailing how much the original debt was and how much was forgiven. For example, if you owed $25,000 and had $10,000 forgiven, you would have to claim the $10,000 as income on your taxes.

Pros: If you have good credit, you may qualify for a lower interest rate on a personal loan than the rates your credit card issuers are charging. Personal loans offer flexible repayment terms, so you can select the one that’s right for your budget. Plus, some lenders will send payment directly to your creditors, so you won’t be tempted to use the loan funds for something else. And many lenders offer the option of applying for prequalification, so you can shop around to see what your potential options are without impacting your credit scores.
Debt management plans (DMPs): Nonprofit credit counseling organizations offer DMPs to help borrowers take control of their unsecured debts, such as credit card debts. A counselor will review your credit report, bills and finances to offer you personalized advice and act as a mediator between you and your creditors. Once an agreement is reached, you'll send the credit counselor a monthly payment that will be disbursed to your creditors. Usually, it takes around three to five years to complete the plan.

When an organisation is unable to honour its financial obligations or make payment to its creditors, it files for bankruptcy. A petition is filed in the court for the same where all the outstanding debts of the company are measured and paid out if not in full from the company’s assets. Description: Bankruptcy filing is a legal course undertaken by the company to free itself from debt obligation


With some consolidation options, you may end up with a higher monthly payment than what you're currently paying. For example, credit cards typically require a minimum monthly payment of around 1% to 4% of your balance. So, in our previous example with the $7,000 balance, your minimum would likely be lower than the $233 monthly payment on the personal loan option.
We’ve heard from many customer reviewers of their dissatisfaction when they didn’t see results in the first month (or two). This is a common complaint not just with Lexington Law, but many other credit repair agencies. Our advice: be patient & stay in communication with the firm you’ve hired. The first 4 months after hiring an agency should tell you enough about whether the firm’s services are working for you.
Fact: Here the blame game shines brightest. I have the email showing that the last time I sent in result letters from the credit report companies was Feb 28th. This company has an automated letter that goes out to the customers when THEY think they should have received a response from the credit companies. Rolondo doesn't seem to grasp that the credit agencies and mail services don't work on his schedule. Therefore everyone is "always late" in sending in their results. One credit report company has stopped sending results altogether, so this last time I waited a bit longer to see if it would come. I received confirmation on Mar 1 that the 2 letters were received from Naftalye. At that time she stated: "I have put your results in line to process". Nothing was processed or done to my account since December 2018. Again, your own portal shows all activity. I never received any further results, there is nothing to send!
The creditors don’t have the time or manpower to negotiate with every one of their customers individually. They work with credit counseling agencies like us to create a set of standard concessions that we may offer to clients when appropriate. The creditors also understand that we provide counseling and education, which makes our clients more likely to succeed in repaying their debts.
Cash advance fee. Using your credit card to get cash is expensive. You'll usually pay an upfront fee, the interest rate for cash advances is often higher than for purchases, and in many cases, grace periods don't apply to cash advances, so you start paying interest on them immediately. A few cards don't charge a fee for cash advances. Some cards don't allow advances at all.
You can refinance debt into a fixed-installment loan, too, with one monthly payment, due date and interest rate. Converting credit card debt to a fixed-rate personal loan could improve your credit score because credit-utilization ratios don’t take installment-type loans into account. You’re essentially “wiping away” card-based debt from your utilization score, thus lowering it.

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Secured credit cards, as mentioned above, require a refundable security deposit, which is usually equal to your credit limit. (The more you deposit, the higher your credit limit.) The deposit protects the issuer in case the cardholder doesn't pay their bill, so these cards are usually easier for people with lower credit scores to qualify for. Be aware that some secured cards are available to people with no credit or a thin credit history but not to people with damaged credit. See our best secured credit cards.
The automation I’ve seen in this industry requires one to have multiple applications with monthly fees for each to implement them. Therefore, they may seem impressive, but not as advantages as I’ve uncovered. Last year, I looked at ten (10) startups and seven (7)  purchased special automation. However, only five (5) of the seven (7) are still in business as of February 2020. When asking what happen, not enough capital to maintain. In addition, the automation was so impressive to them, that if they could not afford it, they no longer wanted to be in business without it. What they did not know is just how unnecessary the automation was for them to be successful. In addition, many just wanted an easier way to earn money instead of having a hands-on approach to working in this business.   In other words, those who stayed in business did not maintain the automation fees and look for more affordable sources. Just having a solution to handle leads, communications,  import credit reports from monitoring sources, generate letters and deliver them to CRAs and furnishers is all that is needed.  There are affordable solutions that have these capabilities.
An option that shouldn’t’ be overlooked is using the equity in your home to refinance your mortgage. The equity in your home is determined by subtracting the amount you owe from the value of the home. The value of your home is not necessarily the same as the amount you have paid on the mortgage because housing values fluctuate over time. If you have already paid off a significant portion of your mortgage, you might consider refinancing your mortgage with the new debt amount added or applying for a home equity loan (also called a second mortgage).
Small wonder plenty of consumers consider debt consolidation — particularly online debt consolidation — a solution to an increasingly pressing problem. There’s a lot to love, after all: a single monthly payment that most likely will be lower than the sum of your current minimums, and a lower overall interest rate, giving you a chance — assuming newfound budgetary discipline — to pay off your debt sooner.
A home equity loan offers a lump sum payment, and the repayment period is typically over five to 15 years, with a fixed interest rate. In contrast, a home equity line of credit works like a credit card, by providing you with a credit limit you can draw from. HELOCs typically have a variable interest rate and a draw period of up to 10 years, followed by a repayment period (often 15 to 20 years) when you can no longer draw cash.
For example, let’s say you want to use a credit card balance transfer to consolidate. Almost any balance transfer credit card you choose will have a fee that’s applied for each balance transferred. Some have a $3 fee per transfer, while others are 3% of the balance you move. That’s a big difference. If you transfer $25,000, then the 3% card will increase the cost of debt elimination by $750.

My business partner paid thousands to become a certified credit consultant to start our business but we couldn't afford to send me and the team yet. But when he finished, mostly what he learned was how to use their software program that they were selling. This is the actual reason their prices were much more. Yes, he learned some good techniques but we kept getting letters from the Credit Bureau for being frivolous with our clients. I searched the internet and found you guys and learned how to be extremely effective and was taught solid credit repair techniques and strategies only. He is now using the material and will take your test too. The helpdesk has helped us so much. I only paid $299 on one of your specials and was totally satisfied. Now we can afford to train all of our people. To anyone reading this, get the training of how to repair credit FIRST and buy the software if you need it later. Thanks CCA." - M. Gonzalez
An important thing to note is that debt consolidating should be considered only if you see your financial situation improving in the future. It is basically a safe way out of paying a large sum of interest rates in your current situation. For example, if you are a college student that doesn’t have a significant income, but have a job lined up where you would be able to pay off your debt, debt consolidation would be a route to take. 
Becoming an authorized user on the account of someone with established, good credit is another way to help improve your score. There is less risk assumed on the part of the lender, since at the end of the day, the person who’s ultimately responsible for the debt is the person whose account you’re on. When someone adds you as an authorized user to his or her account, it is a huge expression of trust — so be sure to use this strategy wisely.
When payments are 180 days (or six months) past due, your credit card will become “charged off” — meaning you no longer have the option make regular minimum payments. Your creditor considers the debt as a loss in their own records, cancels your account, and you’ll only be able to pay the balance in full. You may be charged a late fee for each additional month that passes.
While there are no requirements for credit repair specialists, the FTC indirectly regulates these businesses by ensuring that they don’t market themselves falsely. Qualified professionals are also properly educated and trained in their field. Professional organizations and associations provide training classes, and the best credit repair services hire specialists with relevant educational backgrounds (such as accounting or finance).
The latest student loan debt statistics for 2020 show how serious the student loan debt crisis has become for borrowers across all demographics and age groups. There are 45 million borrowers who collectively owe nearly $1.6 trillion in student loan debt in the U.S. Student loan debt is now the second highest consumer debt category - behind only mortgage debt - and higher than both credit cards and auto loans. The average student loan debt for members of the Class of 2018 is $29,200, a 2% increase from the prior year, according to the Institute for College Access and Success.
The Founder's Guide Team - Asian Associates with dynamic elements out to make a change.Thank you for visiting our site! If you do have any questions or inquiry, feel free to contact us through our links and please don't forget to follow our social media accounts. It would be our pleasure to help you in any way we can. Always Remember: "Proceed to Succeed". Hoping to hear from you soon!
Every credit card delivers value in its own way, through its own unique combination of features. And there are trade-offs involved. If you want rewards, for example, you'll probably have to accept a higher interest rate. If you want high-value perks, you'll likely pay an annual fee. If you want a low interest rate and no fees, you shouldn't expect much else from the card. In other words, you're unlikely to find a single card that offers a high rewards rate, a long 0% period, a rock-bottom ongoing interest rate, generous perks and no annual fee.

Non-profit lending circles. Organizations such as the Mission Asset Fund (MAF) and its non-profit partners have been gaining popularity and have expended across the nation by providing low-income borrowers a way to get financing while building credit. Organizations such as these can provide affordable loans and report positive payment history to the credit bureaus.
When traditional monthly payments don’t work, credit card consolidation can be an effective solution to get out of debt fast. You combine credit card debts into a single monthly payment at the lowest interest rate possible. This helps you save money as you pay off debt and it may lower your monthly payments, too. But credit card debt consolidation is not a silver bullet. It won’t work in every financial situation for every consumer. And when it’s used incorrectly, it can make a bad situation with debt even worse.
Every week, the kids had a weigh in. Their personal trainer was making sure that they were on track with how much weight they were supposed to be losing at each stage in the process. Sometimes they were attempting to lose one pound a day! I never thought that was possible or healthy, but most of the teens actually accomplished it under the supervision of their coach.
If you do decide to consolidate your credit card debt using a loan, it’s important to choose the right company to work with. You don’t want to end up with a bigger problem than you had before. Because those looking for credit card consolidation are often quite desperate, there are plenty of predators operating in the space. You need to be careful to make sure you work with a company that has your best interests at heart.

There is no magic wand, but you can fix your credit problems. This Complete Credit Repair Kit shows you how to repair your credit quickly. Also learn how to avoid bankruptcy, foreclosure, and identity theft correctly which will ultimately lead you to your stress free lifestyle just like many others who have used our kit. They agree it’s a great buy. Just try!
Your debt would be unaffordable, even after consolidation. When you’re struggling to keep up with payments and your debt has become a crisis, you might need a different solution. This is when you might want to consider a debt relief program that will help you get your debt under control. For some people, filing for bankruptcy might also be worth considering as a way to get relief.

First off, I'd like to congratulate you on getting those marks removed from your report; I hope to have the same or similar success considering that I have 12 deragatory marks on my report (ALL MEDICAL BILLS). I have a question about the letters you sent out to the collection agencies. I'll give you some of my background. I'm 25 and my score is 586 via CK. I have one student loan for $4600 that I make payments on every month. In April, I decided to apply for a secured credit card (I acutally got approved, but had to make a deposit which is my current limit) because I wanted to start working on my credit (something I should have done years ago). I make the monthly payments on time too and try really hard to keep the balance under 30% of $200. I'm about $12,000 in debt and over half of that is the medical bills. Two of them were in 2008 from when I was 19 and the rest are from the last couple of years or so (I've never been able to afford insurance). I make $1400 a month and i simply can't afford to pay all of that. Not even in monthly installments after the 'real-time' bills I have to pay for. I wanted to know what I should say in my letter and what not. I know it seems silly, but I would REALLY appreciate all of your help with this. 


During a debt management program, all credit card accounts you include will be frozen when you enroll. You won’t be able to apply for new accounts during the program. But this can be beneficial because it helps you break any credit dependency that you’ve developed. The credit counseling team also helps you set a budget, so it’s easier to live credit-free.

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Nonprofit credit counseling agencies are granted 501c(3) status. But in order to qualify, they must provide impartial help. In other words, a consumer credit counselor must review all possible paths toward debt relief during a consultation. They can only recommend a solution if it’s the best choice to use in your unique financial situation. This allows you to get expert advice without being driven to a debt management program.
Your first couple of credit card applications are incredibly important, as they lay the foundation for how your points and miles strategy will shape up in the years to come. If you pick the right cards, you can earn hundreds of thousands of points and miles all while building a lasting and sustainable credit score that will reward you for decades to come.
Evaluate the pros and cons, especially if you’re tempted to switch to a private student loan. Using a federal consolidation loan isn't terribly risky. But moving from federal loans to private loans is not something you can reverse—you’ll lose the benefits of those federal loans forever. For example, if you work in public service, you might have the opportunity to get federal loans forgiven after 10 years of employment. Good luck getting that deal from a private lender. Some federal student loan repayment plans might also allow you to lower your monthly payment based on your income, but private lenders are less accommodating.
Horrible experience! Forked out over 2k to create trade lines and was promised the world from Rolando. After being told it may take up to 3 months for it to show on our credit report, we waited and waited. Finally at the 3 month mark- we began to apply for credit cards and were denied for all of them! I called to ask what was going on and was told it was never a guarantee therefore demanded my money back and was insulted by Rolando asking why I had waited so long and how did he know if we hadn't already applied and gotten approved for other credit cards?!! HELLOOOO they have all my credit info, they are more than welcomed to run it and see for themselves. What's the point of increasing and creating a trade line if all banking institutions are going to deny me?!?
There are a number of non-profit organizations currently offering debt management services, which include both debt consolidation and debt settlement. Some companies may offer both, while others may specialize in one or the other. In order to be eligible for either of these programs, you must be able to show that there is not sufficient income to pay your bills as they currently require. If this sounds like your situation, debt relief may be just a phone call away.

Often, secured loans carry lower interest rates than unsecured loans so they may save your money on interest payments. Lower interest rates will likely make the monthly payment lower and more affordable. Sometimes, the interest payments are even tax deductible. For example, interest paid on loans secured by real estate is sometimes allowed as a tax deduction.


The Credit Repair Organizations Act (CROA) is a federal law passed in September 1996 that regulates organizations whose purpose is increasing consumer’s credit score through credit repair. One of the most important things the CROA did is make it illegal for credit repair organizations to make false claims. Don’t worry though, staying compliant is pretty easy after you get familiar with the law! This law is moderated and enforced by the Federal Trade Commission (FTC), so the FTC has the authority to close down any credit repair organizations that are operating outside the parameters of these laws (like fraudulent or illegal activities).

A: Usually debt consolidation affects your credit in a positive way as long as all the payments are made on time. When done correctly, consolidation should not have any negative effects on your credit. Successfully completing a debt consolidation plan should improve your credit score. You pay off your debt, always making payments on time, which improves your credit utilization ratio while building a positive payment history.
Accept a plan only if you can fulfill your requirements. If you can't make the monthly payment the program requires, don't enroll. Ask if they can get it any lower, contact your creditors yourself, and/or check with another debt management agency. Again, be aware that many debt management plans require you to avoid taking on any additional debt or at least any additional revolving credit debt (i.e. credit cards, store charge accounts). Understand the terms and conditions, and make sure you can follow through on them.
Contact a credit counseling agency. These are nonprofits that offer debt management programs. You're still paying off your credit cards – and you might include other loans, like student loans – with a credit counseling agency, and you'll likely pay the full amount you owe, too. But your interest rate will likely be lowered, and because your lenders are working with the agency, the phone calls for missed payments will stop.

This may seem like an unconventional method, but it has worked for thousands of people. Consumers are able to replay multiple loans while reducing their interest rates by consolidating their debts. Some consider debt consolidation as a form of debt refinancing. Debt calculators are an important tool for consumers to understand the different implications of debt consolidation.
Trade account information: Here you'll find a list of your open credit accounts, including the creditor's name, your account number, the amount you owe, your available credit limit or original loan amount, and whether you've paid on time and are current on payments. You'll also find data on closed accounts, including the payment history on those accounts and whether or not they were closed in good standing. Negative information on credit reports can include missed or late payments and charge-offs. Learn more about the types of negative information that can appear on your credit report.
That's very commendable of you to handle your daughter's financial problems that way.  I used to be employed as a loan officer in finance, but things have changed so much in the last 20-30 years.  I accomplished something very similar to her situation, but I started in the fair range on scoring.  I raised mine 204 points in less than 9 months.  Thanks for passing along this great advice and experience.
The disputed listing was investigated as to the correctness of the information within the listing (such as late pay notations) and the listing was found to be inaccurate or unverifiable. Remember, if the creditor doesn't respond to the bureau at all, this serves the same purpose as the listing being unverifiable. In this case, the negative listing will now show up as a positive listing, or it will be deleted from your report all together. This is the best possible outcome.
"When you search the internet, you will find lots of companies offering credit repair training with testimonies. I'm not criticizing any other training program out there. My husband attended a seminar last year on credit repair and he said it was pretty exciting and good. He came back motivated because we wanted to be the best in the business. But strangely, I noticed that he came back sharing that we needed to purchase additional resources to be more professional and effective at the event: He told me that we need a special CRM program, affiliates among other things. Some of the sources were ok. Well, my sister joined the team this year in 2014 and decided to look at The Credit Consultants Association program for her training. That's when we both realized that we did not need all of the sources at the seminar to get results. Actually, we used CCA's advanced techniques and information that is always available in their helpdesk knowledgebase and it is ongoing. So we paid for that and became members. You will not be sold on anything else disguised to make your credit repair business look more professional. You will get pending changes of the industry from them too. We found that this is a people's business and they respond to results. If you get results and professional, they will spread the word about your company. You don't need to spend a lot of money to look professional. Yes, you need a website. If you spend all of your money trying to look good with expensive offices and programs, you will NOT be able to afford to give your clients the credit repair results they seek or stay in business. This was our mistake and we had to downsize this year. Start by building up your name as one who gets results for their clients. CCA will provide all of the knowledge needed at an extremely great cost. Software will help your business grow as it has helped ours, but we changed our software recently. You better learn how to control your software and not let it control you. One more thing, if you can afford to go to the seminar, go for motivation and see what else you can pick up. But you will need ongoing affordable sources like CCA. We will stick with CCA instead of paying for a seminar each year because it is much more affordable" - Rosa
LendingClub is the top peer-to-peer (P2P) lender when you’re shopping for a debt consolidation loan. The platform matches up borrowers with investors interested in making a little money by lending cash through LendingClub’s online marketplace. If you’ve had trouble getting approved for a loan, LendingClub’s wider network of investors may broaden your options.
Debt settlement requires that you be behind on your payments to qualify. There’s also no guarantee your creditors and debt collectors will accept the settlement offer. You may or may not receive a refund if the settlement isn’t successful. Keep in mind, also, that the average settlement percentage is 78%, according to the American Fair Credit Council. When you consider that you might have to pay taxes on the forgiven debt, this might not equate to much savings.

Once you have your credit reports, read through them completely. If you have a long credit history, your credit reports might be several pages long. Try not to get overwhelmed by all the information you're reading. It's a lot to digest, especially if you're checking your credit report for the first time. Take your time and review your credit report over several days if you need to.
All figures are from an online customer survey conducted August 12 to August 27, 2019.  A total of 648 Discover personal loan debt consolidation customers were interviewed about their most recent Discover personal loan.  All results @ a 95% confidence level.  Respondents opened their personal loan between January and June 2019 for the purpose of consolidating debt. 
The disputed listing was investigated as to the correctness of the information within the listing (such as late pay notations) and the listing was found to be inaccurate or unverifiable. Remember, if the creditor doesn't respond to the bureau at all, this serves the same purpose as the listing being unverifiable. In this case, the negative listing will now show up as a positive listing, or it will be deleted from your report all together. This is the best possible outcome.
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