DebtSmart: erase bad credit overnight?

DebtSmartBy Scott Bilker


Have you ever wondered how companies can erase your bad credit overnight? How about those ads that say you can get any major credit card 100% guaranteed regardless of your credit? Ads abound almost everywhere selling books, systems and secrets to help you fix your credit in a hurry.

Many of these programs have claims which read like the covers of supermarket tabloids, “In three hours my credit score jumped from 580 to 676!” or “Erase bad credit and smash your debts with just two magic letters!”

Are these types of claims always too good to be true? The answer is yes and no. While many people would love to believe that the only thing that can fix bad credit is time; in reality nothing could be further from the truth.

Time is only one factor which will fix a credit report. How can I back this up? That’s easy. Under a consumer protection law known as the Fair Credit Reporting Act (a.k.a. the FCRA), the only negative information which can remain on your credit report is not what is accurate but what can be proved as such.

What does this mean to you? It means any negative item on your credit report can only remain there if it is accurate and can be proved as accurate under the guidelines of the FCRA. This indisputable fact presents consumers with both good news and bad news.

The good news is that through the FCRA, your credit score can most likely be improved dramatically in a very short period of time with only a modest amount of effort on your part.

The bad news is that while the actual work will take very little of your time, it is vital that one has good information on how to do it. This is the bad news: nine out of ten courses on restoring credit will do nothing more than lead one into a snake pit. This is because they provide individuals with outdated dispute letters which are rarely effective.

These are nothing more than form letters and quite frankly the credit bureaus and creditors will laugh if one tries to use them. While I agree with the Federal Trade Commission (FTC) that anything a credit repair clinic can do for you legally, you can do for yourself at little or not cost.

The key element needed for success is the latest inside techniques and procedures to get the desired results. These involve strategies known as proof of contract, constructive notice, challenge of procedure or restrictive endorsement and others.

All these terms may sound impressive but they are really quite simple. In the end, it is nothing more than a method of communication which exercises consumer protection rights, gets desired results and raises credit scores.

Even more impressive, once individuals learns how simple it can be, they will find there is a fortune to be made doing it for others. Either way, it all starts by requesting a free copy of your credit report by visiting:

  (Scott Bilker is the author of the best-selling books, Talk Your Way out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He’s also the founder of

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