“Knowing Your Options” Lessons In Debt, Credit And Home Ownership

piece of puzzleThe song says, ‘knowing when to hold ‘em and when to fold ‘em’ is all about understanding your options. You are aware that you do not have to pay someone to help you dispute items you see as inaccurate in your credit history. But are you aware of all the options that are involved in the process of raising your credit score ?

You maybe considering purchasing a home, a car, or some other large item and wisely decided to start the purchasing process now by cleaning up your credit. You know  you will save thousands of dollars over the life of the loan by simply raising your credit score. However, you now have your triad credit report before you and faced with the reality of WHERE to start first ?

Your challenge is to raise your credit score using the most effective and efficient methods. One option Spectrum Resources offers our clients is found at http://CreditJusticeServices.com/?ccc=1242 . Credit Justice Services is one of the nation’s top credit repair companies and it guarantees your score to be raised in their ’75 Day Credit Makeover Program’.   You working directly with a paralegal and trained certified credit counselors is one option. Even though it would be hard for you to acquire the knowledge and skills of a professional who works in the credit industry daily, the other option is you acquiring the education necessary to raise your score on your own. There is ample info on the internet.

The most important rule is NEVER tell a collection agency you are preparing to make a large purchase if you have hopes of negotiating a lower pay off amount.  They will leverage that information against you and become inflexible on settling the amount due for a lesser amount, leaving you with the impression you have no choice but to pay the full amount. Seek the advise of an attorney who specializes in these matters or seek further education in negotiating.

Know the fact that third party collection agencies pay only pennies on the dollar to purchase your debt outright from the original creditor. You should be able to settle for less than 50%, learn the process.

 There is a myth that paying off any collection accounts will lower your FICO score. The fact is paying off the RIGHT collection accounts raise scores. Knowing WHICH is the right one is the key. Another myth is that people think that once an account is paid off the negative history is gone from their history. When in fact, you have activated that account to remain on your history for another seven years.  It pays to know, invest in learning. 

Spectrum Resources has been providing education and resources for over seven years in debt, credit and home ownership matters. A trained credit counselor and/or one of our preferred resources can help you with credit repair, credit card modification or negotiation. You always have options.

Call (863) 967-0660 Email: SpectrumResources@tampabay.rr.com

Please leave your comments and questions.  Visit our sister blogs: http://FinancialEducationAndOPtions.blogspot.com    and http://MoneySavingTips.PolkVoice.com   and http://WomanToWomanMagazine.ning.com

Your tax exempt donation to our educational fund is always appreciated, please mail to: SRDC 2104 Brentwood Dr. Auburndale, FL. 33823

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