Everyone has seen the claims that are ubiquitous on the radio, TV and newspaper about credit repair services that will get your credit back on track with one simple phone call.
Often, these companies are looking to take money from people already experiencing financial problems. The truth is that time, patients, and a clear plan will get a person out of financial trouble.
People all over America in need of credit report repair reach out to these companies everyday.
However, these companies often don’t have the customer’s best interest in mind. They tempt consumers by telling them that they will soon be able to afford a house or a car and that their services will even improve their customer’s job prospects.
If you happen to respond to a credit repair offer, the following may be indications that you are being taken advantage of:
If the company asks for money prior to delivering services.
If the company tells you that you can not contact the credit reporting agencies yourself.
If the company suggests you engage in identity theft by taking on a new name or social security number.
If the company asks you to dispute factual information on your credit report as inaccurate.
It is a crime to lie to a credit agency and to assume a false identity in order to obtain credit.
The best method to repairing your credit is to start borrowing and repaying responsibly. The law states that no one can legally remove information that is negative from your credit report if it is factual. If something not factual is represented on your credit report, there is a free process by which to have the item removed from you credit report.
If you suspect that your credit rating may be damaged or somewhat below par because you’ve had some adverse action taken against you (i.e. turned down for a loan), you can request a credit report for free within 60 days. This will help you determine if you have negative items on your credit report that are not accurate.
You may dispute the erroneous entries with the credit-reporting agency in writing. Always keep copies of your correspondence to document the events should they come into question later.
Following some of these suggestions will have you on the road to credit report repair and will help you avoid the possible scams that are out there. For more information, contact the companies and websites listed at the bottom of this article.
Also, every consumer is entitled to one free credit report each year from the three major credit reporting agencies. This can be done at www.freecreditreport.com.
This site offers free viewing of your credit report online. Do not however be drawn in to their paid services that will give out your credit score. This is unnecessary information if you’re only verifying the validity of your credit report.
Equifax. P.O. Box 740241, Atlanta, GA 30374-0241; (800) 685-1111.
Experian. P.O. Box 2002, Allen, TX 75013; (888) (397-3742).
Trans Union. P.O. Box 1000, Chester, PA 19022; (800) 916-8800.
anonymous
http://www.articlesbase.com/non-fiction-articles/repairing-your-credit-70929.html
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When repairing your credit which type of credit card is better?
A secured credit card or a unsecured credit card? From my experience, I got an unsecured card which started out with a $250 credit limit and also had a fee for obtaining the card. Within a year the credit limit went up to $900 then I cancelled it when better offers came in % wise. That was a good start for me. But my bro-in-law is asking about secured credit cards? Which is better and will they both help rebuild your credit in the same way?
I’d go with an unsecured card, but what really would make the difference is what the interest rates and fees are.
Just make sure whatever you get reports your payments to the credit bureau, and you don’t end up getting a pre-paid card.
Look here.
http://www.thecreditcardtorebuildcredit.com/categories/bad_credit_credit_cards
References :
they have a point system
and they will loan you money, then they can raise the interest rates, pretty much as they want to
watch out
References :
mostly willingness to pay interest is what they watch I think
Any credit card is a good credit card! The one thing you should always do get the best rate and pay little or no fee’s. And don’t abuse it. gl
References :
Unsecured and secured cards only differ in that secured cards require a deposit or savings account with the credit card company. If you want to rebuild your credit either is good to start with. Just try and stay at a 25-35 percent debt to credit ratio, meaning if you have 1000 of available credit you should only use about 250-350. Contrary to some beliefs, don’t pay the entire balance every month. This shows other lenders that you aren’t responsible enough to carry small balances month to month. So if you apply for a mortgage and you always pay your whole credit card bill in full each month it looks like you can’t handle balances. Also if you have a credit card and get another one, don’t be so quick to cancel the one you just had, because that helps your debt to credit ratio. If any of this was a little unclear visit the links at the bottom.
References :
http://www.myexcelcredit.com
http://www.myexcelcredit.com/creditsecrets.pdf