Here's an example:

Let's say you have four, maxed out, credit cards. Each with a balance of $5,000 ($20,000 total.)

Say minimum payment on each card is $100 (yours may be different) making your monthly minimum payment total $400.

Now let's say you have $500 per month to pay these off, which you found through analyzing all your spending.

Card #1 has highest interest rate and you'll send $200 per month to that card and pay minimums ($100) on each of others.

And you're not adding any new spending.

The extra $100 you're sending in to card #1 goes to actual balance of card, not interest. This will let you pay that card off a lot faster. You might be able to kill this card in two years, instead of 5.

Eventually, card #1 is dead. The entire payment, $200, that you were making to card #1 gets added to payment on card #2, for $300 total. ($100 minimum plus extra $200 from card #1.)

The balance on card #2 will be less than $5,000 since you've been making your minimum payments all along. Adding $200 from card #1 to payment of $100 that you've been making to card #2 will make this card go away much faster than first card did.

When card #2 is gone you take $300 per month that you were paying to #1 and #2 and add it to payment on #3, which will now be $400/month.

When #3 is done you repeat procedure for card #4, but now you're sending whole $500/month to that one card.

Obviously this system will take years, but at end of that time you have:

* Four dead cards (hopefully you cut most of them up,) * Spending and budgeting discipline earned from going through whole process, and * $500/month to put into a savings account or where ever.

Good luck!

Credit Bureau must look over item(s) that you say are not correct, typically within 30 days unless they consider your dispute frivolous. They also must forward all relevant information you send them to establishment (bank, credit card agency, etc.) that gave them data for your credit report.

After company obtains notice of a dispute from credit reporting agency, it must review and inspect all crucial information furnished and report resolutions back to CRA’s.

If information provider finds challenged data to be incorrect, it must give notice to all nationwide credit reporting agency so that they can update this information in your credit report.

Challenged data that can’t be corroborated must be removed from your credit report.

Inaccurate information must be updated by Credit bureau.

Incomplete information must be changed by Credit reporting agency.

Any account that belong only to another individual must be deleted by Credit reporting agency.

NOTE: Credit repair can be long and boring, importance of understanding your rights cannot be stressed enough so be sure you take time to digest this information.