Almost everyone has some kind of debt. Most people have credit cards, student loans, a mortgage, or car payments. Your timeliness in paying off these loans make up your credit history, something that people usually don’t think about until it’s too late and you are declined on an application. Your credit history is an important tool in maintaining your financial stability, and can have a big impact on your way of life. Once your credit rating is listed as “poor,” you will have a hard time renting a car, putting a deposit on a service, or getting a credit card. If you have bad credit, it is important to begin working toward credit repair right away, before you find that the damage gets worse.

Many people find the thought of improving their credit history to be daunting, and might understandably be tempted by a company online that offers to quickly fix their bad credit for a price. Though there are situations where one of these credit repair companies may prove useful, in most situations they are unnecessary.

Credit repair companies aren’t a realistic solution for most people, because they provide you with a service that you are able to do perfectly well on your own. These credit repair companies will have you obtain a copy of your current credit report from a credit-reporting agency. They will then launch an attack on each of the negative items on your report, in writing. They don’t do this with the idea that you have many mistakes on your credit report, but in the attempt to take advantage of the credit reporting agency’s legal obligation to respond to all investigation requests within 30 days. In effect, the credit repair company is gambling. If the credit reporting agency fails to respond within the specified time period (difficult to do if you multiple items are challenged at once) they are required to remove the challenged item (or items) from your credit report.

This may seem clever, but it is important to remember that the credit reporting agency can put the items they removed from your credit report right back on once have the correct documentation. You could end up paying the credit repair company to perform a “service” that was undone a month or two later.

Aside from this strategy that some credit repair companies use, many more companies like this regularly scam their customers. Remember that these companies, by law, must render all promised services before they accept your payment. They must also clearly outline every fee and service that they intend to provide. If you do choose to enlist the services of a credit repair company, read over all paperwork and fine print to avoid possible scams.

For most people, using the services of a credit repair company isn’t necessary. Make sure that if you do decide to use one, that you check them out completely and that they are actually able to perform a service that you can’t, or don’t have the inclination to do on your own.

Everyone by now has probably gotten at least one email, junk mail, or other type of solicitation concerning Credit Repair. The truth is that around 80% of Americans have credit issues they need to deal with so there is a huge market for credit repair services.

But with every large market there is one thing you can be sure of. It will also draw out the unethical people and the scammers and thieves as well. In this article I will tell you about some of the scams and offer you a little free advice on how to avoid credit repair scams and rip-offs.

The first thing that should be discussed is that anytime something sounds too good to be true it most likely is. When you hear or read the words, “Free”, you should beware. My own website has the word free in it because I actually provide free information. However, if you were to want me to do all that is necessary to repair your credit, you can bet you’d have to pay me for the service.

So, when you see someone offering to fix your credit for free, ask yourself, “How can anyone work for me for free?” Some claim to be a nonprofit organization only there because they are interested in helping people fix their credit.

There may actually be one out there that does this and if you ever dig them up email me a link. For the most part I would be even more leery of those that claim to be a nonprofit. Even the federal government is now looking into credit repair organizations that claim to be nonprofit.

What these companies or credit repair clinics do is something you can do for yourself. They dispute claims by creditors. You can do this by going to the big three, Equifax, Experian, and TransUnion Corporation. If the creditors fail to respond within 30 days, then the item is removed from your credit report.

Sounds great right? Well, not exactly. Even if the creditor fails to respond in the 30 day time period, they can still add the item back onto your credit report. That means that the money you paid for someone to do that for you was wasted. You can get a free credit report from each of these companies once per year. So that is three times per year that you can check up on your credit report.

According to the Federal Trade Commission Website, “A federal judge has ruled that a bogus credit repair company and its owner violated the law by making false and misleading claims, and billing in advance for its services, and has ordered them to pay more than $322,000. This action was a result of “Project Credit Despair,” a crackdown on 20 operations that deceptively claimed they could remove negative information from consumers’ credit reports – even if that information was accurate and timely.”

If the information on your credit report is accurate and timely, there is no one that can get that removed for you. The best thing you can do in that case is to contact the company and make some type of arrangements to pay off the debt. Offer a cash settlement that is less than the total amount owed and sometimes they will help you and take the offer. You have nothing to lose by making that offer and everything to gain.

The FTC advises that only time, a conscious effort, and a personal debt repayment plan can improve your credit report. The first step is to learn what information is in your credit report. If you find errors or mistakes, federal law gives you the right to have them corrected – free of charge. Federal law requires that the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – provide you with a free copy of your credit report once every 12 months, if you ask for it. To order your free report, visit annualcreditreport.com, call 1-877-322-8228, or complete and mail the Annual Credit Report Request Form. Other credit repair information is available on the FTC’s Web site, http://www.ftc.gov.

I hope this article has helped you to understand about credit repair. There are some legitimate companies out there. Just beware of any that tell you that they can remove items from your credit report that are legitimate debts. If they offer to negotiate directly with creditors or help you consolidate your debt, then you may benefit from using professionals. However, on the debt consolidation part, watch that you do not end up paying a higher percentage for interest than you are currently.

Don’t worry if your score isn’t considered “excellent” or even “good”, there are plenty of lucrative investment plans available for you. However, as your credit score increases so will the number of investment plans available to you. That is why it is important for you to improve your credit score. The more investment options available to you, the more quickly you will be able to achieve and exceed your financial goals.

IMPROVING YOUR SCORE

The following tips will help you improve your FICO score:

1. Never carry balances over 50% of the available limit on your credit cards. If necessary, break up high balances on to several different cards to avoid that 50% number.

2. Always make more than the minimum payment on your cards. Minimum payments generally imply that you are struggling to even make your payments and you are therefore considered a higher risk.

3. Avoid excessive inquiries. There are two different types of inquiries, hard and soft. A hard inquiry is when a potential creditor is pulling your credit to determine whether or not they want to lend to you. These are the inquiries you want to avoid. Granted you can’t avoid inquiries all together but be selective about who you allow to pull your scores, as each inquiry lowers your score. A soft inquiry is when you or an insurance company, for example, pulls your credit not because they are considering lending to you, but rather to see how you have performed in the past on your obligations. These inquiries don’t lower your score.

4. Establish longevity. Don’t open and close accounts too frequently. Be selective of which accounts you want to open and maintain them for long periods of time.

5. Don’t have excessive available revolving credit. Now don’t misunderstand: available credit is good, but too much available credit poses a risk to potential lenders and therefore lowers your score.

ESTABLISH GOOD CREDIT

If you don’t have any credit history established, apply for and obtain three different credit cards. Use these cards to purchase all of your necessities such as groceries, gas, etc. This isn’t an opportunity for you to be frivolous and incur debt, but rather an opportunity for you to pay these lines off every month which will help you establish some history.

Go to a local bank or credit union and tell them that you are interested in obtaining a secured loan for the purpose of establishing your credit. The bank will give you a loan, generally $1,000 which will be placed into an account in your name. Each month the bank will pull enough money from your account to make the loan payment. The benefits you will receive of establishing a solid credit history far outweighs the minimal interest expense you will incur by utilizing this strategy. Repeat this process at several banks to expedite the desired result.

Three to six months after following steps one and two, pull your credit report and verify that these accounts are showing up and you have a score. Once you do you are on track to establishing impeccable credit.

REPAIRING POOR CREDIT

Do whatever it takes to resolve any unpaid collections and ALWAYS make your payments on time. This may entail cutting your expenses wherever necessary in the beginning but rest assured that your sacrifices early on won’t go unrewarded in the end.

Avoid the services of credit counselors who negotiate balances and interest rates with your creditors. Potential lenders often frown on these services even more than a bankruptcy. There are legitimate resources out there for repairing your credit, but if negotiating with your creditors is a part of their process, beware.

Even if you have experienced bankruptcy, foreclosure, etc. after following these steps and proving that you are now an acceptable credit risk, you will notice your score improve fairly quickly.

Achieving perfect credit is a pipe dream to most consumers with negative credit and no money, or so it seems. Consumers think that they’ll have to shell out an arm and a leg to render the services of a credit restoration company or a lawyer to dispute negative credit. And they’re right! I suppose that’s where “budget” comes into play. If you have the budget, you could employ one of the many companies online which provide, for about $2,300.00, seasoned trade-line accounts. What this means, in a nut shell, is that they attach you (as an authorized user to as many as 5 different seasoned credit line accounts. This does not mean you have free reign to charge items to these accounts. In fact, by doing this they (the company) guarantee that your credit score will increase at least 180 points in 35 days. And in most cases it will, assuming you’re dealing with a reputable company, of course.

What about the little guy with the moderate budgets? Where does s/he fit into all of this? There are many options for those consumers that are working with a moderate monthly budget. Instead of investing money, it is a good option to invest time to achieve perfect credit.

This means doing it yourself. Spend some time researching the possibility of repairing your credit yourself. All it takes is a little patience, time, and a little know how. You could invest $25-$35 on a “How To” credit repair book from your local book store. The only problem with a traditional paper back book is the fact that, the credit law changes frequently. This will allow room for non-intentional error and indirect misinformation in your credit repair process. This could result in time wasted and more importantly money wasted.

That’s why I find E-Books to better suit the “moderate budget” consumer’s needs. E-Books are much cheaper, and frequently and easily updated. There is only a hand full of reliable Credit Repair E-Books on the internet today such as: Consumer Victory Credit and Credit Bible Secrets. It may not seem that way when you do a Google search for such keywords as: credit repair e-books or credit repair e-kits.

Out of all of the reputable E-Books you can purchase online, the publics’ “Credit Repair E-Book” of choice these days (according to sales and web traffic), is Consumer Victory Credit’s – Credit Restoration E-Book. This particular E-Book is definitely becoming more and more popular on the web. This Do-It-Yourself Credit Repair E-Book was written by a seasoned Mortgage Banker, familiar with the in’s and out’s of the consumer credit industry’s mind set. This in itself brings a lot to the table so to speak, which translates into a huge advantage for anyone who utilizes this information.

After reading this E-Book, it becomes clear that this author is highly knowledgeable in the consumer credit repair field (the consumer side and the creditor/bureau side). The Author also points out what banks and creditors look for in a consumer, trying to obtain a loan or credit card. It evens reveals seasoned trade-line secrets, with out paying the $2,300.00, mentioned above.

It will only set you back less than $10, and it downloads instantly. If you want to check out this site to order this E-Book, click www.ConsumerVictoryCredit.com. I highly recommend it! Good luck in you credit restoration process.

Before we begin to give you information on credit repair building, take a moment to think about how much you already know. This article should help give you more knowledge on building credit repair.

Building credit is more imperative now than it has ever been. If you have bad credit, it is regularly hard to get an apartment, a mortgage loan for a home, or any form of credit loans at all. Just the same, if you have no credit at all, it is regularly difficult to get a loan from most banks. As a result, it is critical that your credit rating is secure.

There are numerous ways to create credit, as well as repairing credit. Normally, if you are repairing your credit it takes about six months before a good number of banks will allow an individual to ask for a loan. Another way is to apply for credit cards that propose no yearly fees. Also, ensure the credit cards have low interest rates, because you do not want to get in further over your head.

Once you complete the application for a credit card, your credit will be checked which gives you the benefit of receiving all three of your credit reports free. Secured cards are normally for those who are seeking a resolution to reduce their bills and are more appropriate for those with good credit ratings. Though there are secured credit cards for those seeking to fix their credit. Cards with zero percent fraud protection insurance are good for those with bad credit, because it presents extra security for repair.

Anytime you own a credit card, it is subject to getting into the wrong hands. If you are building credit then cards are good because it presents you a means to enhance your rate. We all require currency to survive and sometimes when the funds are reduced, a helping hand comes in handy. Once you apply for a credit card, be certain to meet your monthly installments to help boost your credit rating and to keep away from depleting your rate.

The goal is to create or fix your credit so making the payments can only bring out rewards. If you are applying for an un-secure credit card be cautious because some stand for trouble. Be certain to check out the Better Business Bureau (BBB) at the start before applying for some credit cards because some will charge a excessive upfront fee. Forthright fees on credit cards regularly mean that the company is fraudulent. Keep in mind, you are building credit or repairing your credit rating, not attempting to get deeper in debt.

In the beginning of this article, we went over quite a bit of information concerning the building of credit repair and its importance. Now, we supply information about credit reports and how they can be important when building credit repair.

Credit Reports

Credit reports are papers that store important information about your credit history. If you have a bad credit rating and ask for a loan, the lenders will ask for copies of your credit report. Once they discover that your credit is low, you will probably get a “sorry, we can’t help.”

It is imperative to keep your credit rating high because this is the answer for obtaining what you want in life. Otherwise, you are proceeding to be out in left field attempting to find an answer to survive.

Once you apply for a loan and obtain your credit reports for free be certain to scope out the report cautiously to see where the problems rest. If you find any charges on your credit report that looks suspect be certain to apply for an application to challenge the charge. If you dispute the charges, you are taking responsibility of your credit, building your future, and fixing the issues at the same time. If you discover any charges that may have been overlooked when the bills came, be certain to take care of the charges right away. It takes a small number of time to ruin a life, but it takes a lifetime to rebuild a life.

It is imperative to create or repair your credit rating because nowadays you practically require perfect credit in order to get a car, home, personal loan, and so on. If your credit has any negligence nearly everyone will turn you down. If you require help with credit repair you might want to hire an expert that can get results. If you have skills then it is imperative that you deal with your credit issues immediately. Putting things off only includes more trouble. Then again, getting things done now brings forth results because effort is apparent.

Knowing the ins and outs of credit repair building will help you to fully understand the importance of credit repair.

Our credit scores determine much about how we live our lives. We buy practically everything on credit. When applying for a loan, our good credit scores help us receive reasonable interest rates. In fact, from landlords, to insurance companies, to utilities, everyone looks at our credit scores, as they are a reflection of our financial health. A healthy credit score may determine what various agencies will charge for their services. Today, even employers check personal credit scores before offering a job.

Knowing more about our credit scores and the factors affecting them may help us build a positive credit history. But first, let’s look at how they are maintained by the various credit reporting agencies.

Three major credit bureaus – Equifax, Experian, and TransUnion – calculate credit scores. Though they use the same methods and formula to calculate scores, they sometimes come up with a different rating for various reasons. One agency may have more updated information about an individual. A creditor may have shared information with one agency only, but not with the others. Creditors, while checking on our scores, take the average of the three scores from these three agencies.

Credit scores range between 300 and 850. A score of 680 and above is excellent for obtaining mortgage financing at low interest rates. A credit score of 621 to 679 is an average score and you would have to pay a slightly higher rate of interest. A credit score of below 600 makes us potentially unreliable and harder to obtain credit. When a credit score falls below 600, credit repair steps should be taken immediately.

The following are factors affecting credit scores and basic steps to take to maintain an accurate credit score rating with the credit bureaus:

1. Routinely check payment history and the current credit debt held.

2. Credit history length is a determining score factor. Naturally, the longer a ‘good’ credit history, the better.

3. Do not close old or paid off accounts. These show the credit history length and contribute to higher credit scores.

4. Pay off debts to improve credit scores.

5. On-time payments. Delayed payments appear on credit reports and adversely affect it.

6. An individual’s race, sex, age, level of education, or marital status has no bearing on a credit score, nor does the fact that an application for credit was previously turned down.

Taking care to maintain a high credit rating enables us to receive credit and loans at good rates. Our credit score is a reflection of how we manage our finances and a determining factor for many aspects of our lives. Knowing early on how to have a healthy credit history is the best way to avoid bad credit and limited loan options in the future.

It is possible to fix your bad credit, with time, patience and determination. The first step in repairing poor credit is fixing any problems you may have with money.

1) Get a credit reports on yourself and check out what is on them. To get yours free go to www.annualcreditreport.com. You are allowed by U.S. law to get a free copy from each of the three major credit companies once every 12 months.

2) Once you have your credit reports, check them for accuracy. If there are any errors or things you disagree with, you are entiltled by the Fair Credit Reporting Act law to dispute anything in the report that is not accurate. Write to the credit reporting company and explain what the problems are. They will then investigate the matter and let you know what happens. If they find the information is not accurate, they will fix that on your credit report.

Unfortunately you can’t remove anything negative that is accurate information about you. Only time can do that. But adding more good information does help.

3) If your credit needs repair, start work on it now. Start paying off old unpaid debts and loans, starting with the smallest ones.

4) Start paying more than the minimum payment on your current credit card payments.

5) Do not get into any new debt. This is essential. Make it a priority to get out of debt. Cut up (or lock up) the credit cards, if they are a problem for you. Make it a commitment to become debt free.

6) Live within your means. Make a budget and live by it.

7) Start saving money. If you have poor credit, it is much easier to buy a home or a car with a cash down payment, than without one.

There are many sources of help available. Consumer Credit Counseling Service is one of the best for help repairing credit and getting debt under control. Their website is located at http://www.cccsintl.org. Consumer Credit Counseling Service provides budget counseling, educational programs, debt management assistance and housing counseling. There are also many local branches of this nonprofit organization, so check for one near your location.

There are many “for profit” organizations that will help you with debt consolidation loans, but beware! They often are very expensive. You can get free reliable help that you can trust from a non-profit organization like Consumer Credit Counseling Service instead of paying hundreds of dollars to one of them. Or, you can educate yourself and do it for free.

Some other good places to go online for more credit and financial advice are listed on my website at http://i-can-buy.com/resources.html.

The use of credit today in the purchasing of food, property, assets and services is prevalent. There is hardly anything of value that cannot be purchased in part or in full by the use of credit, or a credit card. Whether it is to finance a home, or a car, or simply paying for a dinner or a holiday vacation abroad, credit is acceptable, convenient and useful.

However, the wide use of credit does not mean everyone who makes use of credit knows how to use it with wisdom. Credit, like the proverbial fire, can be harnessed for good or it can be like wild fire which can burn you and cause wanton damage.

Credit scores affect every aspect of our financial lives including qualification for loans and mortgages, the interest rates we pay, employment opportunities, and even insurance premiums.

Therefore, the first step towards credit repair is to know your credit standing. This means getting your credit report. Even if you do not suspect anything amiss in your credit, it is important for you to establish your credit base by getting a credit report. In this way, you can check whether there is anything reported wrongly in your credit report and can have things rectified.

This first step is also to ensure your identity is intact, that your identity has not been stolen or hijacked. This is a proactive step by a concerned consumer to ensure that there is no chance for identity theft or identity errors and eliminate the chances of being victimized by ID fraud.

If there is inaccurate or incorrect information in your credit report, you need to get them addressed and rectified. You will need to understand how to submit your valid personal disputes to the credit reporting bureau so that they meet their requirements and warrant a timely response.

Once the credit bureau legally remove inaccurate information from your credit report, this will improve your credit scores, and establish your credit standing.

As this process may seem complicated to some, there are credit repair companies who will work on your behalf if you choose to appoint them.
Some law firms and real credit repair companies draw upon their vast arsenal of credit report repair strategies and experience to challenge negative items directly with the credit bureaus.

If you have not check or verify your credit report for some time, it is needful for you to undertake a periodic check on your credit score report to ensure it is correct and there are no inaccuracies in your credit report.

In today’s society, no one can overemphasize the importance of a good credit line. In fact, having a bad credit record is even worse than having no money at all. Without bad credit it would be very difficult to get loans and do other transactions that would soon become necessary in the future such as applying for an apartment. However, people with bad credit need not sulk since they can still save themselves from their bad record through credit repair.

Credit repair may be done with a help of a financial adviser but it also helps to make some adjustments yourself. The best way of doing this is by proving that you are indeed capable of managing your finances. There are many ways of doing this, some of them are quite simple but they can definitely help mend a broken credit record.

Here are some important tips for credit repair:

1. Be sure to have your accounts settled on time. Whenever you get your bills, pay them immediately even way before the due date so you would not forget. Credit bureaus have a high regard for payment history and they factor it in your credit score, taking up as much as 35% of the score. A good idea is to have your accounts registered on automatic transfer so that payments would immediately be made.

2. If you have past debts, pay them off, or at least show that you are trying to. If you do not have enough money to pay everything, keep paying even in small installments. This will show that you are indeed responsible enough in trying to clear your accounts. Pay as much as your budget allows and pay regularly. Credit bureaus will notice these efforts, increasing your chances of getting a better score.

3. In case you do miss paying some accounts, try to catch up immediately. Not only do credit bureaus look at your missed payments, they also check how long bills are kept unpaid. If you respond quickly, you can still show that you can indeed pay your debts even if it is a little later.

4. Register to vote. While it may not seem to be connected, registered voters do have better standings with credit bureaus. It can show that you are a responsible citizen as well as a responsible creditor.

5. Get hold of your own copy of your credit report. In the credit report, you would find a list of reasons you got a low score. Knowing this is necessary for credit repair and to avoid future mistakes.

6. Limit yourself to only one or two new credit accounts if you do intend to apply. Possibly, a bad-credit card and a bad-credit mortgage would be enough for you to manage easily. Getting several credit accounts at once may make you a hot object for credit bureaus.

7. Keep your old accounts, do not close them. Closing your old bad accounts will not erase them from your credit record. Pay them off and then keep them clean. Having old accounts can actually increase your average account age, which can help boost your credit rating and help repair your record.

Bad credit is not impossible to repair if you know for yourself the important steps to mend your broken record. Try these steps yourself and see your credit line improve.

If you’ve done any searching on the Internet for information pertaining to “Credit Repair,” you’ve no doubt found that there’s a great deal available. Unfortunately, there’s also a lot of misinformation as well.

Let’s take a look at some of the most common misstatements you’ll come across and examine them in detail.

MYTH #1
“Credit repair doesn’t work!”

While it’s true that credit repair is more “art” than “science” that’s not to say it doesn’t work. If you undertake to repair your bad credit score, there’s never any guarantee you can restore it to “perfect” status. But sometimes you can, and in almost every case you can at least affect some improvement in your credit score, and often major improvement at that!

First of all, credit reports for the most part are filled with errors. While there seems to be no general agreement, it’s estimated that anywhere from 1/3 (Attorney General of NY) to as many as 90% (Charles Givens Organization) of credit reports contain errors.

Removal of erroneous negative information alone will go a great way toward improving your credit score. But there’s more to the story, which brings us to myth #2.

MYTH #2
“Negative information that can be verified cannot be removed”

This is one of those statements that are “almost” true, but taken literally is misleading. As is often the case, the inclusion (or exclusion) of one seemingly small word makes the difference in a truthful statement, and one that’s not (or not necessarily) accurate.

Let’s take an analogy. Suppose it’s the middle of summer, and your grass has grown unusually high. Let’s also suppose that you own a lawn mower, it’s in good working condition, and has plenty of gasoline in the tank.

Now let’s say that you’re sitting on your couch and say to yourself “My grass will get cut today because I ‘CAN’ go outdoors anytime and cut it.”

So will your grass get cut? Not necessarily! Just because you “can” go outdoors and cut your grass doesn’t mean it’s going to get done. You can repeat this statement to yourself all day long, but your grass isn’t going to get cut until you actually go outside and DO it!

Likewise, because a negative item on your credit report “can” be verified doesn’t mean it will be. According to the Fair Credit Reporting Act, a credit bureau must investigate and verify “within a reasonable period of time” any item in your credit report that you dispute. If the “information is found to be inaccurate or can no longer be verified, the consumer reporting agency shall promptly delete such information.”

Now in this context “can be verified” clearly means verified by the credit bureau’s investigation of the item, and the “reasonable period of time” has been established (by subsequent rulings) to be 30 days. So if the credit bureau doesn’t complete its investigation of the disputed information within 30 days, or if for some reason the creditor fails to respond and verify the information, by law the disputed data must be deleted from your credit file.

MYTH #3
“Credit repair agencies are all scams”

It’s true that there ARE a good many unscrupulous credit repair agencies. But there are also some corrupt police officers, lawyers, and politicians. Yet we don’t label all members of these professions as “corrupt.”

If you’re looking for help to repair your bad credit you do need to be careful and do your “homework” when selecting an agency. There are many honest credit repair companies that are not “scams.” But beware of any who make promises as to results!

As stated above, it’s not always possible to restore your bad credit history to perfect status, and no one should be making any promises to that effect. Beware of any company that does! And while an agency will in all likelihood be able to improve your credit score, if any agency makes this promise, be sure it’s accompanied by a money back guarantee. Otherwise, look elsewhere. And don’t forget to ask for references and follow up on them.

MYTH #4
“You have to hire a credit repair agency or lawyer to fix your credit”

Going back to the analogy above, you can always hire someone else to cut your grass (or to do just about anything else) for your. And if fixing your own credit seems an intimidating task, you might prefer to hire a credit repair company to do it.

But it’s not really necessary that you do. First of all, credit repair agencies aren’t cheap. You can expect to pay anywhere from $2,500 to $5,000 or more. Plus, you’ll be paying a high fee for something you can just as well do for yourself, which brings us to myth #5.

MYTH #5
“It’s too difficult or complicated to fix your own credit”

A credit repair company isn’t going to do anything for you that you can’t do for yourself! Credit repair isn’t rocket science. It involves writing letters to credit bureaus and to creditors. If you’re able to write a letter, put a stamp on it and mail it, you’re able to repair your own credit.

“Given the proper knowledge, you can fix your own credit”

This statement IS true! You‘re entirely able to repair your own credit, given the proper knowledge. And given the proper knowledge, you can fix your own car, repair your own plumbing, or for that matter perform brain surgery.

While fixing your own credit is relatively simple and straightforward, you do have to know how to go about it. Essentially it involves getting a copy of your credit report and writing letters to the 3 major credit bureaus disputing negative information in your file.

But there’s a right way and a wrong way to do it. In fact even some of the high priced credit repair agencies get it wrong, which brings us to myth #6.

MYTH #6
“You improve your credit score by getting all the negative items on your credit report removed”

It’s possible to get all the negative items on your credit report removed and actually see you credit score go DOWN as a result! The reason? Your credit score depends on a number of factors, one of which is the length of your credit history. In some cases, you’re better off to NOT remove some negative items on your report, especially if they involve a few late payments in the distant past, but show timely payments during recent years.

While the “nuts and bolts” of credit repair is beyond the scope of this report, there are a number of sources of good information online. If you have bad credit, there are 3 major points you should keep in mind:

1. If you have a bad credit history, it can (and probably will) cost you many tens of thousands of dollars in higher loan interest over the years, as you’ll be charged much higher rates than you would be with good credit. If your credit is really bad, you may not be able to get a loan at all!

2. The situation isn’t hopeless! In almost every case you CAN improve your credit score. You can easily do it yourself or find a reputable agency to do it for you. But in any case, GET IT DONE!

3. If you choose to repair your own credit (recommended) there are good books and eBooks available that can walk through the process. Get hold of one and get started NOW!