This is not a big secret or a special strategy. It is a wake-up call for people who are on a credit repair journey and are shooting themselves all to pieces.
I was shocked to hear from a national credit repair service executive that about 30% of their clients are currently late on a brand new payment. This led me to think about all the people who are doing their own credit repair.
Listen friends: you cannot challenge an old account for inaccuracy in an attempt to have it deleted from your credit report IF YOU ARE CURRENTLY LATE on a payment.
Would you wear muddy boots while mopping your kitchen floor? What would be the point? You would be making a mess as fast as your attempt to clean it up. Same for credit repair.
If you cannot afford to pay all your bills, then it is time to look deeper to discover why. Do you need a better income? Do you need to add a side hustle or ask for overtime hours? Do you need to look for a better paying job (while still keeping your current job)?
If it will take you more than 7 years to pay off your debt, you should consider speaking with a bankruptcy attorney in your area to see if a BK Chapter 7 makes sense. Every state has its own bankruptcy laws and many attorneys offer a free initial consultation.
If you miss payments due to being disorganized, set up automatic payments. Then set an alarm on your phone to check your bills to make sure auto-pay worked properly.
Pay your bills the same day they arrive, don’t set them aside for later.
I hope this message does not apply to YOU, but for those whom it does, today is a reality check. You cannot fix credit mistakes of the past while you are still making those same mistakes, just as you cannot get a wound healed while you are still poking a stick at it.