Another effective method in order to achieve credit repair is through company sponsored payments
. The banks can establish a new deal through the company served by the consumer in debt. Depending on the tenure, position and value of the consumer in the company, different payment options can be arranged. People in high position would receive full compensation of the debt but the payment would be taken back by reducing the monthly salary with interest. This would be more viable instead of having a bad credit record with the bank. No penalties would be given in the long term.