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I have to tell you something, there really is
no right way, but there is a wrong way.
I know it sounds like 'gobbly-gook' but the
credit bureau's are not interested in correcting
errors on your credit reports. They will after a
time if you persist and follow through correct
glaring mistakes.
Don't fall for the credit repair trap where
shady companies offer a new 'identity' or reduce
your debt by 75%. Or consolidate your debt.
However, in some cases, it makes sense to
consolidate if you can reduce your overall
interest rate and not take all the equity out of
your house to doing. See your accountant before
proceeding.
The best organization to help if you credit
card debt is over $10,000 is Consumer Credit
Counseling. You can find your local chapter in
your phone book or go online to:
http://consumercreditcounseling.com/
The bottom line is this, if you are over
$10,000 in unsecured debt (usually credit cards,
personal loans, store charges), consider filing
for bankruptcy if you are unable to pay a
minimum amount. Maybe you have been laid off,
have an illness or other tragedy that through no
fault of you own, you wound up with heavy debt
that is making your life miserable. You
situation is exactly why the U.S. has provided
bankruptcy for its citizens as a method of
relief from creditors.
Whatever you do, realize that there are
millions of others in the same boat or even
worse, and there is relief from the crushing
burden of debt if you just take some positive
action.
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