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Need help just starting out......


Stuck
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I just joined the site today. I have read quite a bit and I am unsure where to start. I wenty to annualcreditreport.com and got my CR's. I have about 7 negatives on my reports. Long story short we fell into a hole and could not make payments on our CC's. They have been delinquent for 6-8 months and most are charged off. Nearly all have been moved on to CA's, but not all. Most cards are in the 500 - 3000 dollar range.

I have alot of collectors calling me at home and a few at work. 2 of them have contacted my sister regarding my whereabouts. Needless to say I am embarassed by the calls.

I really want to start cleaning this mess I made up so I ordered two books from Amazon that had gotten good reviews. they were;

1. Negotiate and Settle Your Debts: A Debt Settlement Strategy

2. Hidden Credit Repair Secrets

My questions:

1. Are these books worthwhile? Has anyone read them and had any success?

2. WHo should I be contatcing first? I can't realistically settle them all right away.

3. How can I stop the phone calls to my job?

Any help you can give me would be appreciated.

Stuck

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Similiar situation. New to the site too but I think you can write letters to the creditors that you want the calls to stop - have them communicate with you via mail. Never read those books but I've been reading alot on here and I sent out PFD letters and some some DV - so I'm hoping things work out. Wish you well.

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Thanks for the reply.

I just read "Hidden Credit Repair Secrets"

The book was a version of what you can find here with sample letters. It was written well and laid out nicely. But for the money I could easily find the info here for free.

From waht I have read I should do DV letters to them all, at least that is my understanding.

Would you mind sharing one of your DV and PFD letters with me? Minus the private info, of course.

Thanks......

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Do DV letters tend to trigger lawsuits?

A DV letter may trigger a lawsuit but not always. You never know with creditors. If any CA calls your workplace again, I'd send them a letter stating calls to your workplace are inconvenient and not allowed.

If you want to settle some of your debts, take a look at your finances and figure out which ones you can settle first. Then contact the creditors or the CAs. Make an offer. They'll counter. Hopefully you can agree upon a settlement.

If it were me, though, I wouldn't pay a penny until either the OC or CA sends (mail, fax, email) something in writing (with their letterhead) stating that __________(Original Creditor) has agreed to settle account #xxxxxxxxxxx for $XXX.XX. Even if the letter is from the CA, it should include the OC's name and account #.

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Stuck,

Like you, I am new to credit repair. I can tell you that this site can be a tremendous resource. I found this site in late 2009 when i found out I was being sued by a CA (Collection Agency). Well, I learned so much from this site that I was able to play their game and they dismissed the suit when I asked them for exactly what I was entitled to under the law; reasonable proof that they had the right to collect the debt, that the debt was mine, etc. Heck, I recently even got a letter that I was getting some money as part of a settlement in a class action lawsuit against the CA

The best thing I can say is to be patient, don't panic. Be sure to do things in a timely manner (per the legal requirements) and if you have questions don't be afraid to search the forums or ask questions.

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