Self Help Debt Negotiation
Self help debt negotiation is available for anyone who is interested in learning the art of reducing debt on their own. The Federal Trade Commission has established laws that allow all consumers fair and equal opportunity to receive credit and dispute credit errors. You don't have to pay someone else to solve your credit problems. Try using self help debt negotiations instead. Self help debt negotiations will teach you how to deal with creditors and make settlement offers on your own without having to pay the high price of debt negotiation services. The information you gather through self help debt negotiations will give you the self-confidence you need to approach creditors with assurance.
Beware of companies who charge huge amounts to clean up your credit or give you self help debt negotiation information. With self help debt negotiation you can do it yourself and avoid the pitfalls so many people fall into who do not understand the credit game. Self help debt negotiations are exactly what the name implies, self help. You don't have to pay anyone for self help debt negotiation information. Self help debt negotiation information is freely available through the Federal Trade Commission, non-profit agencies and through the Internet.
The first thing to do when seeking self help debt negotiations is to get a copy of your credit report. If you have been denied credit recently, you can obtain a free copy of your credit report. President Bush signed a law in December 2004 requiring all credit companies to provide you with a yearly free credit report but currently not all agencies are in compliance. Don't get suckered into the promise of a free credit report online. These companies will supply you with a free credit report but if the service is not canceled, they will continue to charge you. If you have to pay a credit service for a report it is worth the minimal cost.
The second step in self help debt negotiations is to verify the information on your credit report. Credit reporting agencies receive thousands of disputes daily. The object is to get as much negative information deleted from your report as possible. If the information in question can not be verified it must be deleted. Sometimes information has been on your report for years but is not accurate. Do not take the reporting agency's word for it. Dispute anything you feel is incorrect and make them prove it. Sometimes creditors no longer have the data needed to verify the information in question and it must be removed.
The final step in self help debt negotiations is to contact the creditor directly. You can often offer to settle a financial dispute yourself. Creditors know they overcharge for interest and fees. They are willing to resolve the situation and take a lot less money if you can promise payment immediately or within a certain time frame. You can negotiate to have negative reporting information removed from your credit report as well with self help debt negotiation. Seek help if you are in a financial dilemma because self help debt negotiation really works.