Sometimes things can get overwhelming, especially when you have numerous creditors and entries to deal with.
Therefore, I've created a list of rules that I believe provide a solid foundation for anyone performing credit restoration.
Some of them you've seen already and will serve as important reminders, whereas others are new.
oCarefully prioritize the removal of entries and follow the fundamental guidelines.
This includes things like always removing adverse entries with unpaid balances, giving credit restoration priority over debt reduction, and always factoring in the FICO score in your decision-making.
oLearn and study the art of negotiation before speaking with creditors.
oIn all of your verbal negotiations with creditors, be nice! It will go a long, long way.
Even if you get the wrong answer, be nice.
oIf you can, take action that will trip up furnishers of adverse history.
Create a situation where furnishers are either restricted from reporting or must report an entry as in dispute.
oAlways use the insurance method in your dealings with creditors, collectors, and bureaus.
This means that you get things in writing, and when you send something to them, request a return receipt from the Post Office.
This prevents their backpedaling or ignoring you entirely when it's time for them to do something that they promised or are required by law to do.
It's also useful when filing suit.
Make sure that in all your telephone contacts, you keep a log (full name of whom you spoke with, phone number and extension, the time, and the date).
Begin every conversation by politely asking for a name (first and last).
If you can't get a last name, get the last initial or operator number and geographical location.
It can also be useful to get an e-mail address, since people are apt to say things via e-mail they wouldn't normally say, and e-mail provides you with a record of the correspondence.
(Yes, e-mails have been shown to be admissible in many courts!) oKnow ahead of time what you're going to do if a creditor goes back on a deal.
What do you do if a creditor goes back on written agreements? Well, that's your business, but if the creditor won't live up to written agreements, the only way to force him or her is through legal action.
Don't make agreements that you aren't willing to enforce.
oMake sure that you get corrected copies of your credit report each time something is improved (corrected copies are free).
As you go along, you'll find that the bureaus will make changes to your report.
Put the old files in another folder labeled "Credit Bureau Archives" to avoid confusion.
(If you ever have a legal claim, these will come in handy.
) oCarefully track correspondence with creditors/furnishers.
Place any written communication and notes in their respective folder, and take copious notes on any verbal communications.
oAlways pay your bills on time!