[...]... Your Debt Problems 1/ 2 C Understand Your Options for Dealing With Your Debts 1/ 3 1 Do Nothing 1/ 3 2 Find Money to Pay Your Debts 1/ 3 3 Negotiate With Your Creditors 1/ 8 4 Get Outside Help to Design a Repayment Plan 1/ 8 5 File for Chapter 7 Bankruptcy 1/ 9 6 Pay Over Time With Chapter 13 Bankruptcy 1/ 10 1/ 2 CREDIT REPAIR If your debt problems... Appendices 1 Resources A Credit and Debt Counseling Agencies A1/2 B Debtors Anonymous A1/4 C Nolo Publications A1/5 D Other Publishers A1/5 E Online Resources A1/6 F State Consumer Protection Agencies A1/6 2 Federal Credit Reporting and Credit Repair Laws Text of the Federal Fair Credit Reporting Act A2/2 Text of the Federal Credit. .. Build Credit in Your Own Name 6/3 B Ask Creditors to Consider Your Spouse’s Credit History 6/3 C Get Credit Cards and Use Them Wisely 6/3 D Open Deposit Accounts 6 /10 E Work With Local Merchants 6 /10 F Obtain a Bank Loan 6 /10 G Avoid Credit Repair Clinics 6 /11 H Avoid Becoming the Victim of Credit Discrimination 6 /13 Appendices... to Your Credit File 4/29 F Add Positive Account Histories to Your Credit File 4/ 31 G Add Information Showing Stability to Your Credit File 4/ 31 H Avoid Identity Theft 4/32 5 How Creditors and Employers Use Your Credit Report A Who Can Look at Your Credit Report? 5/2 B How Credit Applications Are Evaluated 5/3 6 Building and Maintaining Good Credit. .. account number Again, the credit bureau doesn’t have to add these, but often it will (See Chapter 4, Sections F and G, for more information on adding positive data to your credit report.) I’ve been told that I need to use credit to repair my credit Is this true? Yes The main type of positive information creditors like to see in credit reports is credit payment history If you have a credit card, use it every... Provided in This Book 3 /15 C Deal With Creditors on Past Due Accounts 3 /15 D Deal With Collection Agencies 3 /19 4 Cleaning Up Your Credit File A The Contents of a Credit Report 4/3 B Get a Copy of Your Credit Report 4/5 C Review Your Credit Report 4/7 D Dispute Incorrect, Outdated and Misleading Information in Your Credit File 4/26 E Consider... get credit again That’s simply not true As long as your financial troubles are behind you, you’ll probably qualify for limited types of credit relatively quickly Within about two years, you should be able to repair your credit so that you can obtain a major credit card or loan Most creditors are willing to extend credit to people who have turned their financial situations around, even if their credit. .. you’re trying to get off of (See Chapter 6, Section C, for more information about using credit. ) INTRODUCTION TO CREDIT REPAIR How long will it take to repair my credit? If you follow the steps outlined in this book, it will usually take about two years to repair your credit so that you won’t be turned down for a major credit card or loan After around four years, you may be able to qualify for a mortgage... all aspects of credit repair Easy-to-use forms in Appendix 3 and on the enclosed CD-ROM help you with the sometimes daunting tasks of assessing your debt situation, planning a budget, contacting your creditors or bill collectors, and dealing with credit bureaus—all necessary steps in repairing your credit (Instructions on how to use the forms on the CDROM are in Appendix 4.) A Credit Repair Fast Facts... by credit bureaus—private, for-profit companies that gather information about your credit history and sell it to banks, mortgage INTRODUCTION TO CREDIT REPAIR lenders, credit unions, credit card companies, department stores, insurance companies, landlords and some employers Credit bureaus get most of their data from creditors and collection agencies They also search court records for lawsuits, judgments . 6 /10 F. Obtain a Bank Loan 6 /10 G. Avoid Credit Repair Clinics 6 /11 H. Avoid Becoming the Victim of Credit Discrimination 6 /13 Appendices 1 Resources A. Credit and Debt Counseling Agencies A1/2 B etc. 3. Consumer credit Law and legislation United States. I. Loonin, Deanne. II. Title. HG3756.U54 L46 2002 332.7'43 dc 21 20020 719 14 CIP Copyright © 19 96, 19 97, 19 99, 2000, 20 01 and 2002 by. Debtors Anonymous A1/4 C. Nolo Publications A1/5 D. Other Publishers A1/5 E. Online Resources A1/6 F. State Consumer Protection Agencies A1/6 2 Federal Credit Reporting and Credit Repair Laws Text