Want to
drive a new car??
PAYLESS
then people with
PERFECT CREDIT
Have
That Collection
Removed
I see it all the time, people
trying to do the right thing and
clean up their credit, but doing
it the wrong way. One of the
easiest, but top mistakes I see
people make when cleaning up
their Bad Credit is to pay off or
settle a collection and not
insist that the company stop
reporting it to the credit
bureaus.
It's simple to do, just state
that you want to settle the
collection, but will only settle
if the company will stop
reporting the collection. Make
sure to get an actual commitment
and not some round about we'll
see what we can do type of
response. Preferably get it in
writing.
The reason this is so
important to cleaning up Bad
Credit is because you don't want
any sign to future lenders that
an account had to go to
collections before you were
willing to pay. Not to mention,
it will drag on your credit score
for some time to come.
Repairing Bad Credit can save
you thousands in the long run
with lower APR's on vehicles,
mortgages, credit cards, etc...
It's also a little embarrassing
to get turned down for a loan in
public.
This tactic does not work 100%
of the time with these companies,
but if you don't ask I'll
guarantee they won't offer. I'd
say your chance of success would
be about 70% or better. Remember
this collection company is all
about getting their money back
with a profit for collecting and
not about reporting to the credit
bureaus.
That's just one of many
tactics you can use to start
cleaning up your credit, but by
far one of the easiest and most
important.
Take care and beware,
J the Car Guy
Justin has been securing bad
credit car loans for customers
for close to nine years, and has
seen all levels of credit. If
you've got questions about your
credit or credit repair, Justin
is available to help you at
http://www.insidercarbuyingtips.com
If you are in search of a bad
credit auto loan, Justin has the
resources to help.
Justin also has a lender
review for both good and bad
credit auto loans at
http://www.automalladventures.com
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