Thursday, October 20, 2011

Credit despair or credit repair?

I hit the wall a couple of years ago when some geniuses on the net decided writers were only worth $5 a story, instead of $500. Big difference, as it turns out.

Reputable publications followed suit and either died, cut rates, or went to the Web, meaning they could justify paying less.

Way less.

I declared bankruptcy more than a year ago. I had to. I am disabled and don’t drive—so can’t run out and get a so-called job—oh, and those are lacking, have you heard?

The BK process was very inexplicable. Here in AZ, you have to have less than $150 in your accounts (total) on the day you file. You cannot just take it out and put it back. You have to buy groceries or use it somehow.

Also—the lawyers want two grand to file your paperwork. My guy did not even show up in court to stand up for me—another guy he sent did.

But it worked—and after 15 mos or so, I got it paid off. So no credit cards.

Am I eager to get back on that merry-go-round? Not really. But if you are interested—I have learned of a site with a lot of basic info on rebuilding credit. It’s called

The owner of the site makes the point that people will need credit to get the economy back up and running.

There are a lot of weird scams out there—companies that say they can negotiate lower rates or balances with creditors and just send them the payment and they will do it…sometimes those are bogus. Other times, though, these are legit nonprofits doing this.

Other companies offer to challenge all your listings with the credit bureaus—and if the creditors don’t reaffirm the debt as legally required, it must be removed. This is legitimate, although you can look into on this site and even do it yourself if you want.

AAACreditGuide does say one man got his BK removed from his record. My understanding is that this is not possible, but I guess I need to follow my own advice and check into this.

Anyone heard of this?

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