Importance Of Credit Repair

Analysts in major firms have always failed to realise the essence of credit repair and reforms that could improve credit score

. Have they ever tried to define to the whole idea behind the word credit? Credits were earned during the days when east India Company reigned the subcontinent and there were major treaties signed between the Dutch and the French who were then the exporters of spices from the South American continent. English were smart enough to send their workers from Africa to these areas on the globe. The price was not the ransom, it was way more than what was anticipated but the French, welsh, British and the Dutch. The treaty said that for every worker that was to work in the fields of what today is known as modern Argentina is kept for the next crop season as a credit with the ruling regime. So the English earned credit from the Portuguese who were the major exporters of spices to the Indian subcontinent.

So thats how historians are said to have coined the word credit that holds the modern meaning of a bank credit or terms like credit repair. So talking of the banks one always thinks they are your money savers, but wait a minute, dont they have you spend it in the first place? How many of us customers can actually call for a credit repair help. Few can who are lucky enough to not have landed in an issue like bankruptcy credit repair.

Lets take an example where you buy a car today and are paying the loan and lose saving in the meanwhile. You will first lose your credit and would not have enough time to raise credit score before bank takes away your car and registers you for a bankruptcy credit repair. In majority of such cases of credit repair help we have different institutions that will forward their helping hands and come up front to help raise credit score, but what really happens is that they offer more credit and then take it back in the form of all of your savings, if at all you have some left. So exercise a little caution before taking huge sums as loans from banks as later it might just come to their hands to fix bad credits.

From a banks perspective, honestly none of them are faring well at the moment. Especially when it comes to collection accounts on credit report. Banks have either lost credibility or dont want to function without any more money. But where will the money come from. It will come from Mortgage, funds and foreign exchange. The collection accounts on credit report have to be maintained and updates properly. Attempts have to make to fix bad credit and improve credit score of the customer. Talking of the foreign exchange, it adds up to 1.5 trillion to the global economy every day and no one notices. Well the bank does, with fare possibility of earning the maximum out of it.

Its estimated that over 90% of this amount goes to the majors all across Europe. Thats almost a trillion dollar sum. But the question still remain, is the bank doing enough? Are they on themselves, for themselves or is it just that the customer base needs to be more efficient and have a say at contributing to the global economy. Well all said than done, we have just witnessed a fascinating presidential election. Who knows who wins?

by: creditfast10

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