According to the latest United States Federal Reserve report, consumer debt was over $18 TRILLION DOLLARS in the forth quarter of 2024.
Quick Breakdown:
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Credit Card Debt: $1.2 Trillion
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Mortgages: $12.4 Trillion
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Auto Loans: $1.6 Trillion
Americans spend on average 11% percent of their monthly income on debt payments.
Delinquencies on debt that are past due for over 30 days has increased for all types of debt and for all income levels.
These are some insane numbers and people today are in desperate need of help with maintaining their credit and/or getting out of debt.
Sadly, newly enforced regulations have forced many credit repair services out of the industry. Some were bad actors and some could not afford the price to become compliant.
Some large credit repair firms are facing legal challenges due to these regulations and are fighting in the courts for a resolution.
These new regulations, along with the challenges that the credit repair companies are facing, leave the consumer to fight their creditors on their own.
Fortunately, there was never anything that a credit repair company could have done to repair your credit that you could not do for yourself.
Admittedly, there were a few shady strategies that a few credit repair companies engaged in that are no longer effective today, and these questionable tactics did in fact run the risk of causing more damage to your personal credit in the long run.
Goodwill Credit is in the business of offering you the knowledge that you need to effectively maneuver the credit repair landscape, so that you can fix and improve your credit report and raise your credit score on your own, and we show you how you can repair your own credit the right way.
CreditUpDIY is your FREE Do-It-Yourself Credit Repair System that can guide you through the entire credit repair process, and when you combine this with our FREE Ultimate Credit Repair Guide, you can easily be on your way to a better credit future.
CreditUpDIY can provide you with the letters that you need to challenge and dispute any negative remarks that you identify on your credit report that you believe to be in error, inaccurate, or outdated.
As you download and print your letters we strongly advise that you create a folder for you to document all of your work, including all communications that you have with the credit bureaus and your creditors, including copies of any letters or emails that you receive.
This folder will become critical in your credit repair journey in the event that you find it necessary to hire an FCRA attorney to sue on your behalf, as you will have all of your documentation prepared and ready to present to your lawyer.
You can be confident that you will be going through the credit repair process and documenting everything appropriately so that you can have the best chance of getting a positive result.
We are in the business of helping you to Assert Your Legal Rights as a consumer, and as you move along the credit repair process, you will be empowering yourself with the knowledge that you need to manage and maintain a good credit score, while you continue to work your way towards an excellent credit score.
The pandemic of 2020 has damaged many personal credit scores, and by taking the time to learn how to improve and maintain your good credit, you will be well prepared for the next calamity.
