The Three Mistakes You Must Avoid When Doing your Own Credit Repair
Having bad credit is bad enough. Imagine how worse it is if you completed the credit repair only to know that there are mistakes that should not have been there. To avoid those, we have listed the three major mistakes that you should NOT make if you want to successfully repair your credit.
Mistake#1 - Hiring a Scam Artist
Did you fall for a scam before? It is annoying, right? Not only you wasted time, money and effort but someone took advantage of you and it is a very disappointing feeling. It goes the same with credit repair. It is not cheap to hire credit repair services only to get scammed in the end. If they ask for upfront money without delivering the service, walk away. That is a scam. If they offer to create a new credit report, That is also a scam because no one is capable to do so. You can repair your credit on your own but once you decided to get a credit repair companies, find the legitimate one.
Mistake#2 - Not Getting a Written Copy
Many people find places that give them great offers by phone, but it is much different later. This is applicable to any kinds of negotiations especially those including money. You can also check as time goes by if what is stipulated is actually being done.
Mistake#3 - Statute of Limitations
Debts become obsolete after a certain period of time depending on which state the debt was made. Most states have a statute of limitations of between three and six years long. If you are thinking of paying your 8-year old loan, you might have to think twice as this can result in your creditor suing you in return. If you are dealing with bad credit debts, then you will want to know what the statute of limitations is in your state.