If you are having problems paying your bills, contact your creditors immediately. Do not go running to predatory lenders for more money! Try to work out a modified payment plan with them that reduces your payments to a more manageable level. Do not wait until your account has been turned over to a debt collector.

Here are some tips from the Federal Trade Commission for solving credit problems:

• If you want to dispute a credit report, bill or credit denial, write to the appropriate company and send your letter “return receipt requested.”
• When you dispute a billing error, include your name, account number, the dollar amount in question, and the reason you believe the bill is wrong.
• If in doubt, request written verification of a debt.
• Keep all your original documents, especially receipts, sales slips, and billing statements. You will need them if you dispute a credit bill or report. Send copies only. It may take more than one letter to correct a problem.
• Be skeptical of businesses that offer instant solutions to credit problems. There are no instant solutions.
• Be persistent. Resolving credit problems can take time and patience.

There is nothing that a credit repair company can charge you for that you cannot do for yourself for little or no cost.

If you are a victim of a credit, loan or debt scam, contact Consumer Fraud Online to discuss your options.