Clear Credit Report Up

Question: I am a 30 yr old single parent of one son. I used to have great credit, but personal situations came about, not due to me and due to those situations, my credit suffered. I am trying to figure out a way to clear my credit report up. I owe about 13,000.00. I can not get a loan to pay them off. What do I do? I am terrified of liens and them suing me. What can I do?

Answer:
The best way to clear your credit report up is through debt consolidation. There are many forms of debt consolidation and debt relief, including: i) debt consolidation loans, ii) credit counseling, iii) debt negotiation, and iv) bankruptcy.

It sounds like from your situation that you would be ineligible for debt consolidation due to your current credit profile.

As far as bankruptcy, only an attorney can review your situation to tell you whether or not you qualify for Chapter 7.

You may want to consider a program like negotiated debt settlement that could help lower your monthly payment, get you debt free fast, save up to half of what you owe and get those debts reported as paid on your credit report.

You may be able to try to negotiate on your own by contacting your creditors, but we generally recommend trusting an expert who deals with these situations every day, and maintains a good Better Business Bureau rating.

Bills.com makes it easy for you to apply, by following this link: https://www.bills.com/ debthelp/debt/?rbc=ask+bill

These are a few of the considerations. If you would like more information, please visit our debt relief boot-camp.

Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed.

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