Mistakes To Avoid In A Credit Repair

If you have bad credit and are trying to work at fixing it, you know that it
can take a long time. It can be difficult and is often quite involved, and
it is easy to make mistakes while trying to fix things up. If you are
working to repair your credit there are three huge mistakes that you will
want to avoid if you want to be successful at repairing your credit.

Mistake#1 - Hiring a Scam Artist

There are so many scams out there that are preying on people who are trying
to repair their credit. Even though measure are being taken to try to stop
these scams from happening, there always seem to be more coming back. There
are a few things you can see to clue you in that it is a scam. If they as
for a lot of money up front, or want to create a new credit report for you,
you can be very sure that this is a scam. Often you can work at repairing
your credit by yourself, but if you do need help there are legitimate firms
that can help you fix your credit.

Mistake#2 - Not Getting a Written Copy

Many people find places that give them great offers by phone, but it is much
different later. It is important that any negations be done in writing. You
will want to see everything that a credit card company is asking you for,
and you do not want to rely on something that you heard. You want to have
everything in writing so you can refer to it and you can prove it as well.

Mistake#3 - Statute of Limitations

Every state has a statute of limitations that gives creditors only a certain
amount of time to sue you for a debt. Most states have a statute of
limitations of between three and six years long. If you make a payment on
one of your debts that is old, or if you even say that you do owe it to them
you can reopen the statute of limitations. This will once again allow the
creditor to seek legal action against you. If you are dealing with bad
credit debts, then you will want to know what the statute of limitations are
in your state.

About The Author: Tom Atkins is a staff writer at
http://www.debt-journal.com and is an occasional contributor to several
other websites, including http://www.finance-journal.com.