Credit Repair

      Credit Repair is certainly not a task most are eager to begin and if one is not careful could become an even bigger mess.   In addition to the legitimate experienced credit counseling professionals there are low down scammers who prey on those unfortunate to have tarnished their credit profile.  You have 2 options when faced with an overwhelming amount of debt and they are to try and negotiate lower settlements than owed or file bankruptcy. Of the two options the fastest and easiest is to file bankruptcy and have the majority of the debt if not all eliminated and then begin rebuilding your credit as a person with a minimal credit history would have to.  The other option is to typically work with a credit repair agency that will negotiate with the banks for you, payoff your outstanding balances and then you make one monthly payment directly to them.  

      Once you have eliminated any owed debts you can then start the repair process which for most averages to be a 2 year timeframe.  You will probably need to begin with a secured credit card then after 6 to 12 months you can begin applying for store charge cards or unsecured credit cards with companies like capital one or discover and finally after another 6 to 12 months you should not have too much trouble obtaining most other credit cards and can begin working to get lower your interest rates from companies.

      Repairing your credit is certainly not impossible it simply requires patience and the ability to maintain your new accounts in good standing while learning from past mistakes and not allowing the things that caused it to spiral out of control to recur in the future.