A few years ago I found myself in a situation where I was unable to make my minimum payments. A few car accidents without proper insurance had left me unable to work with not enough income låna 15000 coming in. Sure eventually I would get payoff, but I wasn’t able to get enough credit to even by food. I needed credit repair help .
My first try was one of the late night credit repair companies that promised they could cut my payments in half. I gave them a call, and for a $700 retainer fee they said they would have my payments cut down to near nothing. A few weeks went by and nothing changed. Then they called me and told me to quit paying on my bills and this would help the process so I did. Well I started getting collection notices and couldn’t get a hold of my credit repair help anymore. I now needed a company to help repair bad credit instead of just making payments.
I was thinking of calling a credit repair attorney, but then my Dad recommended I call a credit repair counseling service. Instead of focusing on what the credit services should be doing for me they helped me realize that they were a company trying to profit and I did have a legal obligation to pay them. However, they had to understand that my situation was different for a few years back, but it was temporary. They helped me build a reasonable budget, and put my situation into words the collectors would understand.
The counseling service had me call each of my collectors to explain my situation and give them a plan on how they would be paid back. Most of them were understanding since there was a plan in place and adjusted my payment schedule. A few refused and called me excessively and were often quite rude. I called my credit repair help advisor again to ask how to deal with these and she told me to simply ignore those calls and only speak with them once a month repeating the exact same story. Just keep sending them money to our plan, and if they really don’t like it they will get the courts involved. Obviously this scare me, but was calmed down when I was told that the cost of taking someone to court who can’t afford the payment isn’t worth it for 90% of collection agencies. They use it as a scare tactic.
When you are in need of credit repair help it is psychologically draining as much as financially stressful. A good counselor can help you through this situation significantly.