Credit Solutions

The aptly named Bill Fair, of the Fair Isaacs Corporation, developed the FICO statistical system half a century ago to estimate the credit viability of consumers without thought of race, religion, or creed, and, though the specific mathematical equations used remain a mystery, we all can at least hazard a guess as to the solutions for improving credit. For the most part, FICO scores numerically evaluate what the borrowers maintain in available credit and how regularly they’ve kept up their monthly payments with obvious drops for delinquencies and governmentally forced solutions such as Chapter 7 or Chapter 13 bankruptcy protection. While this should be considered a prudent system, with borrowers rewarded for every debt satisfied in a timely fashion and punished for each debt reneged upon, emergencies occur and borrowers cannot always make their obligations, but the easiest solutions to improving credit – reducing the total amount of unsecured debt owed – becomes all the more difficult once credit scores plummet.

It’s always possible that the borrower’s credit report could contains mistakes, which would clearly enable far simpler solutions, and every consumer should train a vigilant eye on the ratings offered by each of the three credit bureaus – Experian, Equifax, and Trans Union – which have attained an undue authority in American lives. Though all three bureaus are private companies not officially overseen by state or federal government regulations, their estimation of a citizen’s credit goes a long way to determining any individual’s treatment by lenders, landlords, and even employers, but, because their power depends upon a reputation for accurate and reliable documentation, credit solutions are made all the easier since the bureaus will have to research any claims of misidentified financial transactions.

For those borrowers that believe they have an honest dispute with a credit reporting agency, the solutions could be as simple as a written request for proof of the misdeed. Even as stopgap credit solutions, the consumers who’ve asked for an investigation should soon be mailed a formal report detailing the results of the credit bureau’s findings, and, if the original source of the disputed item in unwilling or unable to functionally demonstrate the delinquency, the credit reporting agency shall be barred from again listing any notation of the error and the FICO scores shall inevitably rise. This is a wonderful protection that every borrower seeking credit solutions would be wise to employ, but, alas, not every sinking credit score could be so easily righted nor the uncomfortable debt burdens resolved. Also, borrowers must remember that the faulty documentation could reappear after the credit solutions were seemingly finalized and theoretically buried, thereby reigniting the troubles.

Diligence is every creditor’s responsibility, still, and fundamentally this diligence is the price we pay for the credit bureaus services in vouching for good behavior and allowing poor but worthy borrowers to start businesses and purchase houses. Americans should consider themselves lucky that the loans they were able to borrow were largely based upon solid financial annals and that there are solutions to their credit problems, but, once again, the most effective debt solutions – the sort of debt relief programs which could effectively eliminate the credit card loans and other unsecured burdens – also examine FICO scores. An experienced and trustworthy credit solution company that works in an industry such as settlement negotiation would be hesitant to place their trust in borrowers with unsightly credit ratings, but, if there’s a reasonable explanation for the diminished credit ratings, such solutions wouldn’t yet be impossible. Provided the consumers had a proper history prior to their most recent black marks, a skillful debt settlement negotiation company may yet prove to offer the credit solutions that even the most desperate borrowers need.

The decision to reach out for help with your debt is not one that's easy to make. You were raised to "do the right thing", but now it’s nearly unbearable. You struggle along while your creditors are turning up the heat. And now you’re at the point where the late fees, penalties and interest expense make it impossible to keep your head above water.

Ask yourself this. If you could eliminate your debt without permanently damaging your credit, why wouldn't you?

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Debt Relief

Bankruptcy is not your only option! Our goal is to help you determine the right course of action for you to take. We will connect you with a debt settlement company today that will help you avoid filing for bankruptcy protection.

Are your finances spiraling out of control? Get the information you need today to stop harassing creditor’s phone calls. Total Debt Relief provides a matching service to connect you with pre-screened Debt Settlement Professionals. These debt management pros will educate you on all of the options available to you to get out of debt. Total Debt Relief helps you make the most informed decision possible so that you can get your financial life back on track.