Should I pay off a judgment?

Should I pay off a judgment? If you have a judgment showing on your credit report your credit is probably getting hammered. You need to pay it off it you want to get your credit back in shape. I have seen credit scores jump 150 points or more just by taking one judgment off your credit bureau. For information on how to negotiate a judgment go to

DebtNegotiationZone.com.

Had a Bankruptcy - 4 Critical Steps To Good Credit Scores

Bankruptcy is not the end of your borrowing of money. It does provide a clean slate. However, to get back on track there are some critical steps to take following your bankruptcy which you need to take right away after your process is complete.

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Tips for Consumer Credit Counseling - Should I Do It? Finding the Right Company

The benefits of a Consumer Credit Counseling program can be great. However, before you start a program take a look at all your options for getting out of debt, and do you homework. There are many companies out there to stay away from. This article covers things to look for in choosing a company.

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Re-Aging A Credit Account - What Is It? How Do I Do It?

There are many tips and techniques for improving your credit and your scores. This technique called "Re-Aging" demonstrates to your creditor your intention to pay them as you agreed when you borrowed (charged) their money.

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How Do Debt Negotiation or Debt Settlement Programs Work?

Debt Settlement Companies stand between you and the collectors who keep calling. Debt settlement is all about settling your debt for less than you owe. If you are tired of getting calls at all hours of the day then this information is for you. (click for Full Story)

Debt Negotiation Zone

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Can I settle my debt myself or do I need a lawyer?

If you have collections accounts you can settle the debt yourself. You better have a strong stomach, dealing with creditors can be very frustrating if not scary. If you have a fair understanding of the Fair Debt Collections Practices Act you will be in better shape than most. Just remember that it is a process that you need to stick to. The reality is that if you deal with an attorney that does debt negotiation you will probably end up in the same position. They usually deal in bulk and can get deals from the creditors for that. There is no right answer, you do want to check out your options.

Lawyers that do Debt Negotiation

Why would a creditor be willing to settle a debt with me?

I am often asked why a creditor would settle old debt for pennies on the dollar. The answer is simple really, millions of dollars of debt every year go uncollected and probably would never be collected. Something is better than nothing. Often the debt has already been written off and is owned now by a collection agency. They probably bought the debt for pennies, so if they get 25 cents they may be happy. That would be a big profit to them. If they make your an offer, you don't have to take it. You can negotiate with them. See if they would take less. I have been in the debt negotiation business for nearly 9 years. It only seems like they have the power. If you know how to play the game with them you can save yourself thousands. They may threaten you and say that your credit will be ruined. This is not the case. Once you settle the debt with them it will not be reported negatively anymore. Be sure to get documentation form them that the debt has been satisfied. If you notice that your credit bureau has not been updated you will have your documentation to fall back on. If you send it in to the credit repositories they have to change the notation from unpaid to a paid collection. A paid collection mark on your credit is ok. It is actually a positive mark in your credit.


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Buy Now Pay and Pay Later

Credit Card companies are not your friend. They are in business to make money off of you. If you can't pay cash don't use them. Emergencies can be the exception. Buying expensive cars that you have to devote a huge amount of your time to pay back doesn't make much sense. Do you really need it or do you want it? I would rather be debt free and not have to go to bed every night and worry about how I can pay for all of the things that I owe. As a former loan officer I don't know how many people that I met with that could not buy a home because they were driving big expensive cars. It just is not worth it to drive a fancy BMW and not own a home.

It's sad but I remember talking to one couple that made less than $4000 a month and had a truck payment of nearly $1000. This didn't take into account gas and insurance. They couldn't figure out why they were broke every month. I couldn't figure out why they thought they could buy a home when they were barely making it as it was. I drive a 10 year old car with 95000 miles on it. It's paid for and runs. I'm happy. New cars are fun when you drive them off the lot, the first payment letter will cure you of that.

Alternatives to bankruptcy

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Can creditors harrass me?

If you owe a creditor money, they can call you. They cannot harass you or be inappropriate with you. Read this article on the Fair Debt Collections Practices Act to learn more about your rights. Once you know the rules you can turn the tables.

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