Credit Problems! A Blessing in Disguise.

By: Richard Charles Click author's name for more of his/her articles

Credit problems may very well be one of the best things that could ever happen to you. Believe it or not, that's absolutely true. Because of a heart attack when I was younger, doctors found other things that would probably have taken my life years ago, but because they were found early, treatments were successful before the damage was beyond repair.

Sometimes we are fortunate enough to get a "wake up" call before its too late, even if it turns out to be shocking at the time. Your financial problems may be your own "wake up" call. That frightful day comes when realize that your financial situation is about to destroy your present way of life. You may even start to panic as everything begins to crumble and you start to search desperately for a solution.

The good news is, there are ways to solve your credit problems, and it's very possible that you'll run into new employment and credit opportunities along the way. When your credit problems and money opportunities come together (and they will come together if you are determined to find solutions) no doubt they will enable you to continue on with the destructive lifestyle you already have, or start a new life that's better than you ever had before.

Most people live in a "Comfort Zone" and never do anything but exist. But any disaster, be it health or financial matters, can force us out of our passive presence and make us deal with reality. Suddenly we have to take some type of action if we want to survive. In the end, if we have taken advantage of the information and opportunities we have been exposed to, because of that disaster, we are almost always going to benefit from them, both in the present and in the future.

We all make financial mistakes at one time or another. Sometimes financial problems get out of control and we end up in more serious trouble than we can handle alone. Yes, we've been there ourselves, and at that time everything seemed hopeless. But we know that credit problems can be overcome and the knowledge and experience learned along the way can show us the way to live a life we have always dreamed of.

For many years now, we've been able to help hundreds of people with similar problems by passing on little-known employment and credit secrets they don't know about, otherwise they probably wouldn't be having credit problems today. The fact is, once we recovered from our own credit problems, we never had the need for credit again. Use a little common sense and the same thing can happen to you. It's a smart decision to seek help in solving your credit or employment problems, but don't be so eager that you make the wrong decisions.

Before you begin working with any credit problems, you need to be aware of your legal rights. We are not lawyers and do not give advice, legal or otherwise, but we handled our own credit problems without any legal consultation. You could do the same.

What should you do if your credit report contains false, fraudulent, inaccurate or incomplete information? The Fair Credit Reporting Act protects you against any credit abuse that might result in an unfair judgment of your credit worthiness. There are important rights that you should know about, which are essential in your attempt to successfully remove the negative marks in your credit report and regain a good credit rating.

You are allowed to dispute the accuracy of your credit report at any time and as many times as you wish. The three major credit bureaus are obligated to investigate any items that you dispute. The credit bureau must investigate the disputed items within 30 days. The 30- day period begins when the credit bureau receives the dispute letter. The only exception to the 30-day rule is when the consumer sends the bureau additional material within the 30-day period.

The bureau may extend the deadline an additional 15 days. It is recommended that all of the documents are sent the first time in order to maintain the 30 day period, rather than 45 days. If the credit bureau cannot or does not verify the information you have disputed within the thirty day time period, it MUST delete that information from your credit report.

If the credit bureau is able to get a response from the creditor within the time allowed and responds in a timely manner, then the item will not be removed. Therefore, you must maintain that the information in dispute is not correct. You have the right to submit a Consumer Statement to be added to your credit report explaining why the item is derogatory.

In other words, if you as a consumer dispute the accuracy of certain information in your report, and receive no satisfactory results from the bureau or the creditor, then the credit bureau is required by law to attach your explanation to every copy of the report it sends out to future creditors. Your statement should be limited to 100 words or less.

Taking care of credit problems and finding employment is a lot simpler than you think, especially if you have someone to guide you along the way. There's no reason to pay hundreds of dollars to someone you don't know, to solve your credit problems you're not even sure they will deliver on.

Credit repair is simply a matter of finding out what your credit problems are, demanding proof from the sources that you actually owe them money, and settling old delinquent debts for lower than book value referred to in the industry as Negotiated Debt Settlements. If a company cannot prove you owe them money, so much the better, and this happens more often than you think

Article Source: ABC Article Directory

About The Author: Richard Charles has spent a lifetime publishng books and several monthly mail order magazines. He is now semi-retired. Visit www.creditrepairandjobs.com for more information on credit and employment.