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Unfortunately, there are many credit repair companies that prey on the consumers’
fears, concerning credit. In most cases, we do not recommend hiring a credit repair
company. They will most likely would be using many easy, low cost methods (and
possibly creating more debt), and tools that most consumers can do themselves
and/or have right at their fingertips.
Be wary of anyone offering you a 100% guarantee. They are making exaggerated
claims. Credit Repair Companies can actually do more harm than good by “blasting”
letters to the bureaus. If you do decide to use a credit repair company, check with
the Better Business Bureau at www.bbb.com, and make sure they explain everything
to you clearly and thoroughly.
Also, if a credit repair company negotiates monthly payments with your creditors,
make sure they will report to the bureaus that your payments are on time and
current. Some companies, although you are making payments for a negotiated
agreement, will report the payments as late because they are not the original
agreed payments. Insist on getting this in writing.
fears, concerning credit. In most cases, we do not recommend hiring a credit repair
company. They will most likely would be using many easy, low cost methods (and
possibly creating more debt), and tools that most consumers can do themselves
and/or have right at their fingertips.
Be wary of anyone offering you a 100% guarantee. They are making exaggerated
claims. Credit Repair Companies can actually do more harm than good by “blasting”
letters to the bureaus. If you do decide to use a credit repair company, check with
the Better Business Bureau at www.bbb.com, and make sure they explain everything
to you clearly and thoroughly.
Also, if a credit repair company negotiates monthly payments with your creditors,
make sure they will report to the bureaus that your payments are on time and
current. Some companies, although you are making payments for a negotiated
agreement, will report the payments as late because they are not the original
agreed payments. Insist on getting this in writing.
A Quick Note About Credit Repair Companies:
You cannot be arrested or put in jail for having bad credit. If a collection agency tells
you this, report them immediately to the Federal Trade Commission (FTC).
You have the right to know what is contained in your credit report (We will discuss
later how to order a copy of your report). You also have the right to know of everyone
else who has requested to view it. And, you have the right to know if a credit bureau
is investigating you, and interviewing others about you.
You must be informed if anyone has viewed and used your credit report to deny you
credit. You have the right to know the name, address, and phone number of the
bureau that provided the report.
You have the right to dispute any inaccurate information that is on your report. The
bureaus usually have about 30 days (business days, not calendar days) to conduct
their investigation and they must supply you, in a written format, with their results. We
will discuss later this very important process of removing negative items on your
report by disputing them with the bureaus.
Inaccurate information has to be deleted from your report within 30 business days,
and it is usually permanent. It is possible for it to reappear, but it’s not probable.
Any information that is older than 7 years must be removed from your report. For
bankruptcies, it is usually information that is older than 10 years. In addition, a
creditor cannot report information that is older than 7 years to an agency.
You have the right to insert missing information into your credit report. If you were
granted credit, and you made all of your payments on time, but the creditor doesn’t
report to the bureaus, you have the right to add that information to your report.
You have the right to insert your own personal statement into your report. This is a
100 word letter explaining your personal situation to any future creditors. You also
have the right to insert into your report a 100 word letter if you have disputed an item
in your report, and the lender has verified it, but you feel that you weren’t treated
fairly. You can insert a letter of explanation stating your side of the story.
You have the right to remain silent about any negative information about you that
doesn’t show on your credit report.
You can sue a bureau or a creditor for damages if they have violated your rights. If
you are successful, you will receive money for damages and possibly court costs and
attorney fees. But conversely, if you lose or the court determines that you sued in
bad faith, you may have to pay the defendant’s court costs.
Not just anyone can view your credit report. There are laws that state anyone who
wants to view your report must have a permissible purpose such as: when you apply
for credit in writing, if it has been subpoenaed by someone, and similar reasons.
Some companies may also obtain your information to solicit business. You do have
the right to contact the Credit Reporting Agencies and remove yourself from any
future offers or lists.
You have the right to report a creditor or debt collection agency, if you feel you are
being harassed.
Hopefully now that you know your rights, you will feel better and empowered on your
mission to improve your credit.
you this, report them immediately to the Federal Trade Commission (FTC).
You have the right to know what is contained in your credit report (We will discuss
later how to order a copy of your report). You also have the right to know of everyone
else who has requested to view it. And, you have the right to know if a credit bureau
is investigating you, and interviewing others about you.
You must be informed if anyone has viewed and used your credit report to deny you
credit. You have the right to know the name, address, and phone number of the
bureau that provided the report.
You have the right to dispute any inaccurate information that is on your report. The
bureaus usually have about 30 days (business days, not calendar days) to conduct
their investigation and they must supply you, in a written format, with their results. We
will discuss later this very important process of removing negative items on your
report by disputing them with the bureaus.
Inaccurate information has to be deleted from your report within 30 business days,
and it is usually permanent. It is possible for it to reappear, but it’s not probable.
Any information that is older than 7 years must be removed from your report. For
bankruptcies, it is usually information that is older than 10 years. In addition, a
creditor cannot report information that is older than 7 years to an agency.
You have the right to insert missing information into your credit report. If you were
granted credit, and you made all of your payments on time, but the creditor doesn’t
report to the bureaus, you have the right to add that information to your report.
You have the right to insert your own personal statement into your report. This is a
100 word letter explaining your personal situation to any future creditors. You also
have the right to insert into your report a 100 word letter if you have disputed an item
in your report, and the lender has verified it, but you feel that you weren’t treated
fairly. You can insert a letter of explanation stating your side of the story.
You have the right to remain silent about any negative information about you that
doesn’t show on your credit report.
You can sue a bureau or a creditor for damages if they have violated your rights. If
you are successful, you will receive money for damages and possibly court costs and
attorney fees. But conversely, if you lose or the court determines that you sued in
bad faith, you may have to pay the defendant’s court costs.
Not just anyone can view your credit report. There are laws that state anyone who
wants to view your report must have a permissible purpose such as: when you apply
for credit in writing, if it has been subpoenaed by someone, and similar reasons.
Some companies may also obtain your information to solicit business. You do have
the right to contact the Credit Reporting Agencies and remove yourself from any
future offers or lists.
You have the right to report a creditor or debt collection agency, if you feel you are
being harassed.
Hopefully now that you know your rights, you will feel better and empowered on your
mission to improve your credit.
Inquiries affect your credit. An inquiry occurs whenever someone views or requests a
copy mortgage, etc - it is an inquiry. If a lender sees a lot of inquiries, they may reject
your application for credit, and inquiries also lower your points.
to the bureaus, give you an extension for a bill, not charge you late fees, and contact
them directly to work out payment, instead of paying a collection agency. You can
save yourself money, and credit points by just talking to them. After all, they are all
people too. We have had experiences where people and companies have worked with
many of our previous clients, as long as they stayed in communication with them. If you
avoid them, they may not help you. But if you stay in touch, make partial payments, tell
them about an extenuating circumstance, etc, they may be willing to work with you and
try to help you out.
letter stating that they will contact the bureaus and remove any negative reports from
that account. Usually, if you are willing to pay off the debt, they will do that for you. But,
get the letter before making the payment.
filing for bankruptcy. You should try to avoid filing for bankruptcy as a solution. If you
have filed for bankruptcy, don’t despair, as there are still ways to improve your score,
or remove it completely.
number, or using a tax ID number. This is an illegal and risky maneuver. You could
end up in jail, because tampering with a social security number is a federal offense.
been a victim of identity theft, notify the credit card company immediately, not the
bureaus. In most cases, the credit card companies will investigate it and immediately
reimburse you.
Now that you are armed with more knowledge about credit, we can proceed further
with the credit repair process. Keep the tips and your rights in mind and good luck.
copy mortgage, etc - it is an inquiry. If a lender sees a lot of inquiries, they may reject
your application for credit, and inquiries also lower your points.
to the bureaus, give you an extension for a bill, not charge you late fees, and contact
them directly to work out payment, instead of paying a collection agency. You can
save yourself money, and credit points by just talking to them. After all, they are all
people too. We have had experiences where people and companies have worked with
many of our previous clients, as long as they stayed in communication with them. If you
avoid them, they may not help you. But if you stay in touch, make partial payments, tell
them about an extenuating circumstance, etc, they may be willing to work with you and
try to help you out.
letter stating that they will contact the bureaus and remove any negative reports from
that account. Usually, if you are willing to pay off the debt, they will do that for you. But,
get the letter before making the payment.
filing for bankruptcy. You should try to avoid filing for bankruptcy as a solution. If you
have filed for bankruptcy, don’t despair, as there are still ways to improve your score,
or remove it completely.
number, or using a tax ID number. This is an illegal and risky maneuver. You could
end up in jail, because tampering with a social security number is a federal offense.
been a victim of identity theft, notify the credit card company immediately, not the
bureaus. In most cases, the credit card companies will investigate it and immediately
reimburse you.
Now that you are armed with more knowledge about credit, we can proceed further
with the credit repair process. Keep the tips and your rights in mind and good luck.
Consumer Credit Repair Tips To Remember....
What You Need To Know About Your Credit (Repair) Rights
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Credit Repair CheatSheet System
Credit Repair CheatSheet System
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welcome
We are here to provide you with free and low cost credit repair solutions,
which is a smart alternative to the more pricey Credit Repair Companies out
there on the market.
Engaging in your own Credit Repair Campaign may seem overwhelming at
first, but once you are armed with the right information, your results can be
limitless.
This website is here to provide you with that information. Please feel free to
begin by reviewing our free credit repair information below as well as our free
credit restoration tips, strategies and articles.
Good luck...
which is a smart alternative to the more pricey Credit Repair Companies out
there on the market.
Engaging in your own Credit Repair Campaign may seem overwhelming at
first, but once you are armed with the right information, your results can be
limitless.
This website is here to provide you with that information. Please feel free to
begin by reviewing our free credit repair information below as well as our free
credit restoration tips, strategies and articles.
Good luck...
Top Ways to Improve Your Credit Score
There are very few things you can do before applying for a home mortgage loan that are
more important than knowing your FICO score. Fair Isaac & Company- the heart of FICO,
the score that greatly determines your interest rate on any loan-car, furniture, home
equity, and of course on.....
more important than knowing your FICO score. Fair Isaac & Company- the heart of FICO,
the score that greatly determines your interest rate on any loan-car, furniture, home
equity, and of course on.....
How to Achieve a Good Credit Score
To calculate a credit score, Fair Isaac uses 22 pieces of data collected from the three
major credit bureaus, Equifax, Experian and TransUnion. The lowest possible score is
300, while the highest is 850. The final number is a composite of individual ratings in five
categories.....
major credit bureaus, Equifax, Experian and TransUnion. The lowest possible score is
300, while the highest is 850. The final number is a composite of individual ratings in five
categories.....
Secret Credit Score(s) You Don't Know About
I'm sure most consumers are familiar with a FICO Score. If not, F.I.C.O = Fair Isaac Credit
when it comes consumer credit, loans and repairing one's credit as well.
In addition to your FICO score (including the three major credit reporting agencies - your
ability to obtain credit. These scores are hidden from the general public and are not
disclosed to us (regular folk) whatsoever. Some of these score calculations are even
derived from the main.....
when it comes consumer credit, loans and repairing one's credit as well.
In addition to your FICO score (including the three major credit reporting agencies - your
ability to obtain credit. These scores are hidden from the general public and are not
disclosed to us (regular folk) whatsoever. Some of these score calculations are even
derived from the main.....
How to Write Letters to the Credit Bureaus - The Right Way
Under the Fair Credit Reporting Act (FCRA), you have the right to dispute the
completeness and inaccuracy of information in your file. Once you contact the bureaus to
dispute information, the agency must investigate and record the current status of the
disputed items within a “reasonable period of time”, unless it is perceived as “frivolous” or
“irrelevant”. If the bureaus can’t verify a disputed item within 30 business days (eight
weeks), they must delete it. Follow the steps below carefully, and you will have......
completeness and inaccuracy of information in your file. Once you contact the bureaus to
dispute information, the agency must investigate and record the current status of the
disputed items within a “reasonable period of time”, unless it is perceived as “frivolous” or
“irrelevant”. If the bureaus can’t verify a disputed item within 30 business days (eight
weeks), they must delete it. Follow the steps below carefully, and you will have......
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