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First observation


Kalakuta
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There is the possiblity for a newbie to think that the secret to repairing your credit is to do the things that are listed all over this forum (send letters, dispute items, wait) but the one thing most people - including yours truly - fail to understand and address is that repairing your credit is not just about deleting records but also becoming very responsible about what it takes to maintain good credit.

I have had some recent success as well; my score jumped up 26 points in five days but.... it had nothing to do with all the letters I sent recently to the credit card coampanies or collectors. I paid off one of my cards ($250) and that made my score jump. I also noticed that if you want quicker results, try to pay off the cards that are with the more established credit providers. They tend to report much faster. I know this goes against what we all know; that you pay off the cards with the highest interest rate, but I also paid off my credit union card ($800) and I have still not seen anything on my reports and please believe that I check myfico daily!

In a nutshell, if you can stick to the basics you can get this done and hopefully not end up in debt again. All our circumstances are totally different but the common factor is that you do not get into more debt and do try to pay off your cards if you can. Certainly doing the extra work as described in the credit repair section does help but cannot eliminate the fact that some of these issues are self-made. I also found out that because there are issues on my report, the effect of inquiries and adding more to my debt, my scores drop a lot quicker as opposed to when I had stellar credit. I guess with this kind of scores come extra scrutiny......

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Hey there,

I am pretty new here myself. I totally understand that you have to "maintain" good credit.

I am very pro-active, now, something I wasn't in the past. When I see a bill, I pay it promptly! Most of my bad credit was doctor bills sent to CAs. Now, the first thing I do is make sure that the Insurance paid correctly, if so, and I agree with what I owe, I pay it!!

I am fortunate that I have a good job and don't have problems paying little bills like that.

Most of my bad stuff is from a past divorce when frankly, I didn't care anymore. I am past that and will do everything I can to get my credit to where it was before my problem.

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I've been around here awhile, so let me throw in my 2 cents.

Probably 60-70% of the people here are here because something unexpected happened in their life. Lost a job, medical problems, divorce, identity theft, whatever. These people had credit...used it more or less wisely...and then got smacked with something that made it go south.

Another 30-35% are here because they bought into the "free money" hype that the CC companies and buy-now-pay-later big box stores, auto dealers, and mortgage companies were shoveling. Now...its later...and paying for it all has become a problem. Their own fault? Ehhhh...maybe, but there were lots of people shoving them in the wrong direction.

Whatever's left...maybe 5% at most...are here looking for ways to beat the system. Buy on credit and then not pay.

The point is very few of us are here because we intended to screw up. Most of us do know how to manage money and pay on time and be good financial citizens.

But...for whatever reason...once you run afoul of the "collection industry", you need someone to help you realize that those people DO NOT play fair. They make their money by threatening you and hassling you and making you beleive that you have no choice but to do what they tell you to.

We're here to tell you that's not the case. There are laws that protect us debtors from illegal practices. Knowing your rights is not the same thing as avoiding your obligations.

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The reason I came here was simply, "I grew up". When I was eh...younger :lol: I used credit cards like they were going out of style. :roll: At the same time I did not handle money responsibly! Fast forward..eh..a few years later, I'm married have kids and want to buy a house. That is what initially bought me here. I became aware of how my money management affected my life and the life of my children! So, yes, I agree with Willing, we don't come here to continue to screw up. After reading and repairing we learn the importance of money management, it's an ongoing process! The bonus is learning about your consumer rights and feeling more in control of your finances! :)

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I've been around here awhile, so let me throw in my 2 cents.

Probably 60-70% of the people here are here because something unexpected happened in their life. Lost a job, medical problems, divorce, identity theft, whatever. These people had credit...used it more or less wisely...and then got smacked with something that made it go south.

Another 30-35% are here because they bought into the "free money" hype that the CC companies and buy-now-pay-later big box stores, auto dealers, and mortgage companies were shoveling. Now...its later...and paying for it all has become a problem. Their own fault? Ehhhh...maybe, but there were lots of people shoving them in the wrong direction.

Whatever's left...maybe 5% at most...are here looking for ways to beat the system. Buy on credit and then not pay.

The point is very few of us are here because we intended to screw up. Most of us do know how to manage money and pay on time and be good financial citizens.

But...for whatever reason...once you run afoul of the "collection industry", you need someone to help you realize that those people DO NOT play fair. They make their money by threatening you and hassling you and making you beleive that you have no choice but to do what they tell you to.

We're here to tell you that's not the case. There are laws that protect us debtors from illegal practices. Knowing your rights is not the same thing as avoiding your obligations.

Couldn't have said it better myself Willing

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Kalakuta- That is awsome that your realize that it isn't all about repair and repair only. Credit and money management in general are so important. A few people never understand, no matter what anyone here says to them. So you are ahead of the game.

willingtocope- very well said

I think its a big step for everyone when they Google "credit repair" or "how to fix my credit" and find places like this. I think its like admitting there is a problem....

and we all know admitting there is a problem is the first step to getting help

xangelx

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The reason I came here was simply, "I grew up". When I was eh...younger :lol: I used credit cards like they were going out of style. :roll: At the same time I did not handle money responsibly! Fast forward..eh..a few years later, I'm married have kids and want to buy a house. That is what initially bought me here. I became aware of how my money management affected my life and the life of my children! So, yes, I agree with Willing, we don't come here to continue to screw up. After reading and repairing we learn the importance of money management, it's an ongoing process! The bonus is learning about your consumer rights and feeling more in control of your finances! :)

I'm in a similar situation. When I was younger I never gave much thought to how important good credit was. For years it was apparently good enough to accomplish the things I was doing, I hardly ever checked to see what my credit scores were. When I finally got serious about it, I was fortunate to be at a decent job with a good income, so I've had the means to do serious repair. I've gone from having credit in the basement to now having 5 good credit cards and two auto loans, and having no problems keeping everything current. Was also just approved for a $1500 TL with Crown Jewelers. I'm looking at finally buying a house at the end of next year, and by that time I hope to have all the negatives off my reports and having a few years of good credit history. Repairing many years of bad financial planning doesn't happen overnight, it takes patience and some sacrifice and doing without some things. I read through the posts on this forum for a couple of weeks before actually signing on, the help I've recieved from everyone here has been amazing. For any situation I've had, someone else had already gone through it; and by following the steps they took I've been able to better my situation.

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Each of us has our own story of how we got here. I think the majority of us got here through a combination of shortsightedness and bad luck... maybe some with a bit of foolishness thrown in. I got here mostly because of my own stupidity. I stretched myself beyond my means and it finally got over my head. One little mishap and I was screwed. Do I deserve to be treated like a criminal because I was foolish and didn't keep a nest egg? Maybe. I can tell you the CA's sure think that way. Do I deserve to die for having debt I can't pay? There was a time when I was at my lowest and actually thought a bottle of tequila and a .38 sounded like a good idea. I'm way over that now and have learned making mistakes is just a part of being human. I've learned from my mistakes and am getting better every day. The biggest lesson I've learned is I want to make sure once this is behind me that I'm never in this position again. As much as the "Industry" would like to make you believe you're a "Deadbeat" you're not at all unless you choose to be. Bad things happen to good people every day.

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Its funny how society or whatever has led almost all of us to believe that if you can't pay your bills you're automatically a deadbeat, no good, loser. That's probably why the problem spirals out of control for most people. Its embarassing. That's why people ignore summons to a degree (also intimidation).

If a company fails to meet their obligations, not like there is a huge stigma associated with that company (unless company is a scam company). There are plenty of companies with a "junk" rating but most don't think less of said companies like they would of a person.

In fact, in my opinion it should be the creditor who is embarassed. Why? B/c they made a bad business deal, plain and simple. Personal debt is not personal, its business. Interest rates are charged commisserate with the risk associated with a particular loan. A high interest rate = a higher probability of default. So why should they be surprised when someone who is getting a 30% interest rate defaults, obviously they weren't "gouging", they were correctly calculating the risk associated with said debt.

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