Debt review removal is a term that is used quite often. Often times it is confused with debt settlement. The truth is that they are not the same thing and should never be mixed up. Debt review is not debt settlement, and they should never be used interchangeably. They are two different options for dealing with your debts.
Debt review removal involves a formal procedure by which the credit bureaus to issue a final clearance certificate to an individual who has successfully paid off all of their debt, which is listed as being under debt review. The process does not involve debt settlement and there are many reasons that can make this unnecessary. Below we will further explain why and how they should not be mixed up.
If you go through a debt counsellor or hire a lawyer to negotiate your debts, there is a chance you will have some of your debts approved. This is where the credit bureaus get involved. They want to see all of the collection calls and money that has been sent to you stopped. They want to see that you have made all of your payments on time. There are a few things that the credit bureau looks for when approving debt review removal, so you need to make sure you know them.
First of all, you need to know that the credit report does not include all of the information. If you had a debt that was deleted from one of your accounts, and it was subsequently listed on a credit report, the credit report could contain a notation that it was “paid in full.” If this were the case, then the debt review removal process would allow this to stay on your credit reports for six months or longer. The only way for this to get corrected is for you to provide proof that the debt was actually paid in full. So, if you want to know how to terminate the debt review process and keep your credit reports up-to-date, you need to understand this part of the process.
Another important part of how to stop the debt review removal process is to contact a debt sage. These companies are professionals at helping consumers remove certain bad items from their credit reports. They can do so without the help of debt counsellors or lawyers. Usually, they work through a clearing house that sends verification letters to creditors, which can then be sent to the credit bureaus. Once this happens, you will be able to remove all of the negative items from your reports.
How to get a consent order for debt review removal is another important step. You need to contact the national credit bureaus, and they must provide you with written consent that you have read and agreed to the terms of the settlement offer. You also need to ensure that your creditor is willing to go into negotiations. Failure to negotiate with your creditor may result in the disapproval of your consent order, so make sure that you are very interested in getting a settlement offer.
Another tip to help you on how to stop the debt review removal of your poor payment history is to request a copy of your credit record clearance. In this document, there will be a section that says “pay as agreed” and highlight it. This means that you agree to pay your creditor what you agreed to in writing, and that you did not negotiate with them. A good way to make sure that you get a good credit record clearance is to ask your creditor to send you documents about their dealings with other people who have had debt problems, and compare these to your own. If your creditor confirms that you did receive approval to clear your poor payment history, it should give you the green light to proceed with the debt review removal process.
If negotiations for a debt settlement fail, you may not be able to stop the debt review removal of your poor payment history. In this case, you may want to seek the help of a debt counsellor or professional credit repair service. They can provide you with several options to help you on how to clear your credit record. However, the first thing that you need to do is to contact a debt counsellor or credit repair service to be advised on your rights and remedies for clearing your credit.