Debt Champion: Conquering Credit Reports
Success! You took the initiative to review your credit report and to act when you found something that wasn’t right. And, you got the job done! Getting inaccurate items removed from your credit report can be a challenge, so you’ve already made big progress.
Getting inaccurate items removed from your credit report can be a challenge, so you’ve already made big progress.
It sounds like you still have some concerns about debt, though, so here are some tips for taking charge of your existing debt and making sure your credit report remains error free.
If You Haven’t Talked to Creditors Yet…
Be prepared before you pick up the phone.
Every debt collector will want the maximum payment possible, but you’re looking for a solution to all of your financial problems, not just one. That means creating a plan before you ever make the first call.
- Calculate how much money you have available each month to put toward those past-due bills, and at what point in the month those funds will be available.
- Write down all of the debts you’re attempting to resolve, with full balances and past-due balances.
- As you talk to creditors and debt collectors, remember to deduct whatever you promise to one from your available funds before starting the next conversation.
- Keep detailed records of your calls, including the agreement reached, the person you talked to, the date and time, due dates, and any other pertinent information.
- Follow through on your plan! If you run into a snag and can’t make a payment, contact the creditor or collector right away to keep your agreement on track.
If You Start Getting Collection Calls and Letters…
Know that collection agencies and debt buyers sometimes break the rules and play dirty. If that happens, here are a few resources to help you understand your rights and decide what to do next:
If Removed Items Reappear on Your Credit Report…
You may have a claim under the Fair Credit Reporting Act (FCRA). Below are some resources to help you understand your rights under the FCRA and why enforcing them matters.
If You Need Help…
As you move forward, know that you don’t have to fight this battle alone. If erroneous entries reappear on your credit report, debt collectors become abusive or attempt to mislead you, or you just need more information about your rights and options, reach out to Barshay Sanders PLLC.