Make no mistake about it...Restoring ones credit is easier said than done. When I first set out to repair my credit, I had a 2 year plan and had I been able to stick with it, I would have probably been successful; but unfortunately, that was not the case.
My plan was 3 tiered. First, I was going to let all negatives that were nearing the statute of limitations fall off when the time came. This required no work on my part. I'd just wait them out.
Second, I would send "pay for delete" letters to all of my collection and charged off accounts. Anyone who was willing to negotiate a settlement to my liking, I would negotiate. Anyone who wasn't was dead to me and moved to the bottom of the list.
Lastly, I'd continue to make timely payments on the accounts that were current and in good standing while simultaneously searching for new credit offers that through research I found would be easier to get approved for; only applying if I felt that I had a better than average chance for approval.
The plan was great in theory but the reality is that I never followed through with it. I allowed myself to become distracted with sports on television, stress at work and hanging out and having fun! The good news is that I was able to secure a few new credit accounts in the process but overall, I could have been more successful.
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