subject: Credit Repair Strategies For Consumers [print this page] Credit is a delicate subject that most people find hard to understand. We are here to provide free information and allow the consumer to do their own research. Consumers are provided the opportunity to join the conversation the creditors and bureaus are having about them. Consumer reporting companies are their to report negative information about the consumer to allow creditors to charge a higher interest rate.
The information in your credit report affects whether you can get a loan or insurance or even a job. As consumers you are allowed one FREE copy of your credit report yearly, obtain your yearly report and make sure everything is reporting accurately about you. If you notice negative or inaccurate information tell the consumer reporting company Trans Union, Experian, Equifax in writing, what information you think is inaccurate. Include any paper work that support your position. It is totally FREE to dispute the inaccurate or out dated items on your credit report.
The credit card industry has changed a lot since the global slow down, it's a new ball game out their, the consumer is on the batting plate. We have more control than ever over our credit score. The Consumer Credit Protection Laws that allow the consumer to check and repair their credit if any negative or inaccurate items are reporting against you. Credit repair is legal do not allow any one to fool you, you might not need professional help.
A credit score that is less than a 705 can benefit from credit enhancement. Just a little increase in your FICO score means thousands of dollars saved in interest. There is many different negative items that can effect your credit score. COLLECTION ACCOUNTS, PAST DUE ACCOUNTS, CHARGEOFFS, and LIENS are just some negatives that can hold you back.
1st step check your credit
2nd step investigate your reports your trade lines that are old or inaccurate.
3rd step repair your credit send dispute letters to all three major credit bureaus.
4th step is start living your dream and being financially free.
Creating a formula of how long it would take you to reach your goals is most important thing. How much is your debt? Divide by your annually income equals how long it would take you to pay off your debt.
After understanding what types of negative items are holding you back, you should start contacting the credit bureaus. Contacting the credit bureaus takes patience and a lot of time. I would recommend typing letters is a better method and contacting them by phone. Your letters should be short and strait to the point, no more than two sentences. For example! I was not 30 days late during the month it shows on your credit report.
