Bob's Online Marketplace Blog











{March 9, 2010}   Restoring Credit

How to restore credit.

This recession has caused a lot of changes for many people. I personally know people that lost there jobs, and couldn’t afford to stay on unemployment so they accepted a job that pays much less than their previous job. This has been tragic for many Families! Many lost their homes, and other had to have their Mortgages Modified.
Then comes a new group of scams! You probably see the signs on the sides of roads “Avoid Foreclosure” Many of these people pretending to help you are just out to profit from your loss! They will purchase your house for much less than what you owe. It will still have a dramatic affect on your credit.

Another Industry that has been around for a while is debt negotiators! I personally know creditors, and people that own Collection Agencies, and these companies take your money and do what you could do yourself! They Prey on your fear and anxiety! Many Creditors and Collection Agencies are willing to negotiate settlements, and they don’t give those companies a better settlement than they would give to you personally! I’ve Polled many of the credit Industry insiders, and the state agencies that govern them. If you have a hard time talking to them write them a letter explaining your situation. I realize many bill collectors are trying to get money in their doors ASAP. And they will try when talking to you! When talking to them listen closely. They sometimes will make things sound worse than they truly are, and they often give you the impression that they are going to sue you, but they don’t really say it directly! These People work on commission and it’s their job to get as much money paid as quickly as possible. However, if they think you will settle for less and they are afraid of loosing the opportunity of you paying your debt they will negotiate! Now bakc to the story I was really writing about.

A good way to re- is to get a Credit card that will work with people that have challenged credit It’s you chance to prove you can be disciplined with money! Do not max it out. The more open credit lines you have the faster your credit score will rise!

Bob Tischner

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