Jan
31
Choosing a Credit Repair Service
January 31, 2010 | Leave a Comment
Credit repair involves removing inaccurate, misleading or outdated information from your credit report. Credit repair services are sometimes able to help you, when you cannot achieve results on your own. Choosing a credit repair service may involve a little investigative work on your part, but it is well worth the trouble.
An internet search for credit repair services will yield thousands of results. You may not know where to begin. First, you must decide what type of help you actually need. If you are having trouble paying your bills and feel you are close to bankruptcy, a new law requires that you receive credit counseling before you can declare bankruptcy. A credit counseling service and a credit repair service are not actually the same thing, though they may be listed side by side in a directory.
Credit counseling services help consumers create budgets and negotiate repayment plans with lenders. They attempt to remove late payment fees and lower interest rates. There are many “for profit” credit counseling services, but most states have non-profit services.
Credit repair services help consumers who are being denied credit or do not qualify for the best interest rates, because of negative information on their credit reports. If you have been denied credit or have been told that you do not qualify for the best interest rates being offered because of your “credit score”, then you are looking for a credit repair service.
Before you engage a credit repair service, obtain copies of your credit reports from the three major credit bureaus. Another recently enacted law has made it easier for you to do this. You only need to visit one website; www.annualcreditreport.com. The Federal Trade Commission advises that you spell it correctly or you may end up at an impostor site. You are only entitled to one free copy per year, unless you have been denied credit because of information on your report. This applies to most people searching for credit repair services.
The number of items on your credit report may help you choose a credit repair service. If you have multiple items that need to be removed, it makes sense to choose a credit repair service that charges a monthly rate, rather than a per item fee. It is also a good idea to look for a company that guarantees results and spells that guarantee out for you, before you sign up for their services.
Some credit repair services are operated by “financial professionals” or “credit experts” who may or may not be able to help you resolve any legal issue that comes up while you are going through this process. You can avoid these credit repair services by choosing a law firm that specializes in credit repair. You may think that a law firm will be more expensive than another credit repair service, but often this is not the case.
The Federal Trade Commission advises; “Be skeptical of businesses that offer instant solutions to credit problems. There aren’t any.” What this means is that there are some questionable services being offered, some of which are actually illegal. Legal credit repair takes time. A legitimate credit repair service that can achieve desired results will tell you this up front.
The writers and editors of the Credit Repair Blog are committed to providing accurate information about choosing a credit repair service. Visit us at http://creditfixnow.blogspot.com
Popularity: 12%
Jan
28
Free Credit Repair Information
January 28, 2010 | Leave a Comment
Credit repair involves removing inaccurate, misleading or outdated information from your credit report. Credit report repair may help you get better interest rates. If you are being denied credit, it may help you get the credit that you deserve.
Most people understand the importance of establishing and maintaining a good credit record. You opened your first checking account and maybe got your first credit card or car loan and then something went wrong, so now you are searching for information about credit repair. You are not alone. Credit report repair is a major issue for many people and has created a relatively new market, particularly on the internet. Companies offer to sell you your credit report information and your FICO scores. They offer, for a price, do-it-yourself credit repair software and “professional advice”. Consumers are bombarded with information from television and radio personalities. Some of whom have no experience or knowledge in credit repair issues. Anyone can offer to sell you anything and if you are not careful, you will waste money on bogus “credit reports” which have nothing to do with your personal credit report information.
The first step towards credit report repair is to obtain copies of your credit reports from the three major credit bureaus. Before you can complete a credit repair program, you need to know what information is causing your credit problems. You are entitled to a free copy once in a twelve month period. You can view and print your credit reports by visiting www.annualcreditreport.com. The Federal Trade Commission advises that you spell it correctly or you may end up at an “impostor site”. Once you have this information, you are on your way to credit report repair.
The next step towards credit repair is to report inaccurate information to the credit bureau. If you dispute information on your credit report, the credit bureau is required to investigate. They are not required to investigate and remove information in a timely manner. If you only have a couple of negative items, then you may be able to handle this part of the credit repair process yourself. However, those with large numbers of discrepancies often become frustrated at this point and give up on the whole idea of credit report repair. They continue struggling for years with high interest rates or even being denied credit entirely. This does not have to happen. There are law firms that can help.
As opposed to credit counseling services and “credit advisors”, legal counsel familiar with the laws regarding credit repair issues may be able to help you resolve your credit problems in a timely manner. They can handle the red tape, paperwork and multiple requests to credit bureaus that are sometimes necessary to remove items and complete the credit report repair process. Fees for these services vary, but if you are stuck carrying a balance on high interest credit cards, then you are paying hundreds of dollars per year in interest. Interest is money thrown away. Even worse, if you can not buy a house because of information on your credit report and are stuck paying rent then you are throwing away thousands of dollars per year. Credit repair is a worthwhile investment, whether you have the patience to do it yourself or you enlist the help of a legal professional.
The writers and editors of the Credit Repair Blog are committed to providing accurate information about credit repair issues. Visit us at http://creditfixnow.blogspot.com
Popularity: 11%
Jan
25
Where to Go For Credit Repair Help
January 25, 2010 | Leave a Comment
You may have heard that only time can repair bad credit, but the truth is that even time does not always repair issues that affect your credit rating. There are legal credit repair strategies that can help you repair bad credit issues, regardless of time.
The reasons people seek credit repair help are as unique as the individuals that seek it. If you have applied for credit and been turned down, you were probably angry and embarrassed. You are not alone and there is help. There is legal credit repair help. Government agencies will often say that the only way to repair bad credit is to wait. This is not necessarily true. If you have been turned down for credit, you can obtain a free copy of your credit report from the credit bureau that supplied the information causing the denial. You are also entitled to a free copy every year, regardless of whether you have been turned down for credit or not. If you notice any of the following things then you should get legal credit repair help.
One of the first things that you may notice when you view your credit report for the first time is that some of the listed items are very old. You may also notice that some are inaccurate. You may not even recognize the names of some of the companies that have supplied information about you to the credit bureau. If you notice any of these things, then get some legal credit repair help. If the interest rates you are paying on your credit cards are higher than your friends are paying, then you may benefit from legal credit repair. There are many reasons to seek legal credit repair help. Now the question is where to go.
There are a number of companies which offer to improve your credit score, some in a very short period of time. These services may be a waste of money. There are also companies which recommend that you create an employer ID number to use when you apply for credit, instead of your social security number. If you are not a small business owner, this is illegal. So, in order to avoid wasting money and breaking the law, you must search for legal credit repair help.
Of the many companies that do offer legal credit repair help, some are not involved in credit law at all. They may be credit counselors or call themselves credit experts and while the services that these companies offer may be legal, they may not be effective. Only a law firm which specializes in credit law can provide credit repair help that is both legal and effective in all bad credit issues.
It is legal to attempt to repair your credit rating on your own by having false, out-dated or inaccurate information from your credit report. It may also be frustrating and ineffective. Sometimes credit bureaus will refuse a request because the wording is incorrect. There are legal credit repair companies that offer to sell you letters to copy and send to the credit bureaus. Remember to compare the prices charged by these companies to credit repair law firms that do everything for you.
Legal credit repair is definitely worth your time and money. You will save money in the long run, because your interest rates will be lower. Your insurance premiums may be lower. You will probably not have to pay security deposits for services that you need or want. If you have tried to correct your credit issues on your own, don’t give up. Or, if you have not tried to repair your own credit, because you did not have the time or the know-how, or because you thought that it would not work, get some legal credit repair help, preferably from a law firm that specializes in credit repair issues.
The writers and editors of the Credit Repair Blog are committed to providing accurate information about legal credit repair. Visit us at http://creditfixnow.blogspot.com
Popularity: 7%
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