Credit Repair is a process that involves consumers taking action to improve their credit situation. Credit Repair can be done by the consumer OR consumers can hire a company to assist them with the process. The process consists primarily with the removal of negative data from credit reports, but at Today’s Credit Solutions, we focus not only on the removal of negative items, but also on settling debts, and building positive credit. Ideally, the Credit Repair Process should consist of the following steps:
- Confront credit reports and overall financial situation.
- Remove all unverifiable information through TCS expedited credit repair process.
- Ensure unverifiable negative items stay off of the credit reports. This step is included in TCS expedited credit repair process flow.
- Once credit removal process is complete, enjoy new and accurate credit reports.
- Settle on remaining negative debts. Even though we place every client in a better credit situation, it is difficult to delete all negative items from credit reports. This means there could be some miscellaneous negative debts remaining on the reports when we are done. During this process we work hard to acquire a low cost settlement agreement. While negotiating a settlement we work hard to acquire a “deletion letter”. We do this by leveraging the payoffs our clients are willing to make and ensuring the collection agency understands the financial hardships our clients have experienced. This can be a trying process, but on average we are able to get deletion letters 50% of the time. After paying a bad debt (collections/charge offs), the good news is you never hear from the collector again. The bad news is the item is re-reported with a new date, $0 balance, and it is listed in the derogatory section of the credit reports. This is what makes receiving a deletion letter so important.
- Have 3 (active) positive trade lines. The credit scoring system wants to see long existing positive trade lines. Cleaning up the negative items is a great start, and a must in today’s society, but having some positive trade lines working for you definitely helps speed up a consumer’s goals.
Credit Repair is distinctly American.
Like in America itself, you will get out what you put in. Utilize the process properly, and you will reap the benefits. Use it to continue to dodge responsibility and you will be in our system forever. No one wants that, including us.
Credit repair gets a lot of bad press, often by media outlets that do not understand the system and/or are being controlled by organizations that don’t want to see consumers improve their credit scores. That being said, consumers must be aware of whom they are doing business with. It’s like any other profession; some people do what they say and others are in it to make a quick buck. Unfortunately when times are tough, more and more unethical crooks crawl to the surface. When seeking out professional credit repair help make sure you are comfortable, educated, and working with a company that delivers results. If surprises pop up or the process doesn’t unfold as explained, then take the initiative to get a refund and/or file a complaint with the FTC/BBB. Stay away from companies telling you to do blatantly illegal acts. In other words, use common sense when making decisions about your financial future.
Credit Repair is like anything else, it requires hard work and investment. If you have had personal problems that have put you in a hole, then understand you made some mistakes and move forward in a positive, hard-working direction. We at Today’s Credit Solutions hope our website helps consumers understand the credit system. We want to help as many people as we can. Remember, there is nothing we haven’t seen, so don’t be embarrassed to confront your credit problems.
Respectfully,
John Pautsch
Founder
Today’s Credit Solutions, LLC