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Need credit card debt help? Read this before you start!Need credit card debt help? Well there are a few things to consider before you get started! You need to be careful here because the type of consolidation you do can affect your credit score. If you wait until your credit cards are maxxed out and you late in making your payments, your score is already sufferring or about to be soon. However, avoiding a charge-off is imperative, because a debt consolidation loan is not nearly as bad if you have to get debt consolidation help through a counseling service where your in so deep that the only way you can repay your debt is with a serious reduction in interest rates. Not all debt consolidation loans are bad and there is much misconception on this! If you can get a signature loan at a lower interest rate because your credit is fair or better without a counseling service, your credit score could go up because of this! But, do NOT go back out and fill up your credit cards again or you will undo all your advantages to this type of loan and the only three ways out of this are Bankruptcy, a home equity loan, credit card debt help and counseling or suffering through the high payments that could require years of payments too. If you don't have a copy of your credit report, then this is a great time to get one! Credit card debt help where credit and debt counseling is involved will make your score drop, but not as much as a bankruptcy or a charge off will! On a scale of -0 to -9 for instance, a charge off is a -9 and debt counseling and a reduced interest rate loan from a counseling service is a -5. A bankruptcy will also be a -9, but since a bankruptcy wipes your slate clean, this is easier to recover from than most people think! Once your bankruptcy is granted, your score improves! What?? How's that again?? YES, your score goes up, not by a lot, but it does go up because your creditors know you cannot do this again for 7 years! My score went from 486, which is considered poor to 595 which is the lower end of fair.You will be able to start over from here more easily than you could at 486, but your interest rate will be higher and your credit limit will be lower, but it is a place to start recovery from! There is a lot more to discuss on this subject, so stay tuned and get my RSS feed. We will be talking about how to recognise scams and avoid them! OK! SCAMS!! How to recognise a scam. Well, this is not so easy because there are a few of them that are really good. And this is not so good, for you at least! Let's begin with where I found false promises when I started looking. Ready? Good! Scam no. 1 "We have an in with the credit bureaus that you don't and we can use this as a tool to help you repair your credit and improve your score! It's a secret handshake or special from letters that will make them delete negative information on your credit file!" There is no such thing! Some companies will just take your money and run with it! Others will deluge the credit bureaus with letters after letters hoping they will get so overwhelmed they may just give up and pull the negative item out of your file. Those really in need of credit card debt help often fall for this one! The item will be removed while an investigation is made and then make the case for your money until it reappears, and when it does, you've been burned! But the company will use this temporary "cleaned up" status to collect their fees! Scam no.2 "We can, on your behalf, convince the creditor that you really don't owe this debt". What a load! This is along the same lines as those who claim the IRS is illegal or that US currency really isn't valid. The same tactics are used to bombard the creditor with requests and procedures that will make them tire and drop their claim! But wait! There's more!! Yeah We'll get into that on the next page of
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