Credit Repair

Find out more about Credit Repair

Tough times abound these days and the American people who are having trouble with their finances are getting into trouble with credit reporting agencies. Sometimes it’s not your fault if your company downsizes or moves to a location out of the country, but when bad things like that occur it can effect your financial situation in a dire way. Having a bad credit report can effect things such as trying to get a mortgage, a business loan, buying a car, getting a job, which all seem unfair if circumstance beyond your control have occurred. Yes it is true employers frequently ask to get a copy of your credit report. Get all 3 Credit Reports plus 3 Free Scores

I personally have known some people in my life that have been in car accidents or have had health problems and when the time comes to pay for the ambulance, medical costs, lawyers and everything they have had no choice but to file for bankruptcy. By no fault of their own they were caught up in circumstance I would term as unfortunate life events. These life events that occur to many good people can effect them for years to come and if they don’t take the right actions to correct some of there reported credit history it can be far reaching and make a profound impact on your life. Even if you were just young and irresponsible you can make an effort and change your bad credit into good fortune.

Bad credit doesn’t need to be like a “bad credit” prison sentence, and there are remedies out there for people to take back control of their financial lives. There are specific things you can do in order to get yourself and your financial life back on track. Let a Law Firm Remove your Negative Items from your Credit Report!

- Learn about a simple letter you can write to stop collection agencies from harassment.

- Learn the techniques to clean up your credit faster than credit repair agency.

- Protect yourself from identity theft and keep your good credit in tact.

- No credit? Learn to build your credit back up quickly.

Let a Law Firm Remove your Negative Items from your Credit Report!

There are so many tips and trick that anyone can learn to use that the credit card companies don’t want you to know about and will do anything to keep them from you.

A low credit score is the result of a failure to comply with the terms and conditions of one or more credit agreements. Although normally the result of missed and late payments, there remains a chance that a poor rating could be due to credit report errors. Despite what some unscrupulous paid services advise, there are few quick and easy answers to bad credit repair. Accurate information cannot be erased and acquiring a new credit report in order to attain credit constitutes fraud.

Why Bad Credit Repair is Possible

Credit history repair is a gradual process that is achieved by ensuring that the information credit reference agencies hold is accurate. It is also aided by taking steps to ensure that punctual repayments are made now and in the future. No matter how poor someone’s repayment history, it is possible to fix bad credit by demonstrating reliability to lenders. A low credit score is an indication of the risk of lending to someone at a given time, it needn’t last indefinitely.
Fix Bad Credit by Removing Credit Report Errors

Whether a poor credit rating has occurred due to unreliability or inaccurate data, it will still lead to lender rejection. The Consumer Data Industry Association stated that “up to three percent” of reports contain erroneous data. The Fair Credit Reporting Act 1970 gives consumers the right to provide a written request (with appropriate supporting information) to request that credit reference agencies remove incorrect information. This could be performed through a credit attorney or by the individual.
Punctual Repayments Help with Credit History Repair

Whilst it isn’t possible to remove genuine adverse credit entries, it is possible to recover from them by making timely payments now and in the future. Whilst this won’t lead to rapid credit repair, it will result in a gradual rating improvement. Even those who have filed for bankruptcy can recover sufficiently to get approval for a mortgage within a two to three year period.

Bad Credit Repair Credit Cards

When someone has declared bankruptcy or entered a debt settlement program to eliminate some of the money owed, a strong possibility exists that no active agreements remain. This can make it difficult to fix bad credit by making punctual repayments. However, there are a number of poor credit rating credit cards that can be taken out to help with the rebuild process.
Recovering from a Low Credit Score

Whilst a poor credit rating means that the attainment of finance will be more difficult, it is still possible to get an adverse mortgage or quick cash advance from a payday lender. It will be virtually impossible to find a source of inexpensive unsecured credit. However, correcting inaccurate data and paying on time will help to fix bad credit. It is possible to recover from a low credit score in as little as six months, although more serious transgressions will take longer.

We all could use credit repair tips, especially if our credit report just arrived in the mail and there’s a thing or two in there that may embarrass us should the time come to apply for that boat loan.

You realize now how important it is to have been more up to date with those credit card payments or not have skipped a mortgage payment deliberately, thinking the bank won’t notice.

Well, all the credit watchdogs notice. It’s their job. Not only do they notice but they also put it in writing. Guess who suffers the consequences.

Oh yes, you sure could use a credit repair tip today! Lexington Law Sign-Up Page

Where do you start the rebuilding process? Here’s the first credit repair tip: request a copy of your credit report. The law stipulates that all individuals are entitled to one free credit report each year. When you get it, credit repair tip # 2 is to go through it diligently with an eagle’s eye. Your guiding principle must be to look for errors blatant or subtle and have them rectified.

Credit repair tip # 3: write the agency that issued the report and point out, in detail, the mistakes (better make sure those mistakes are legitimate and that you can prove that they are mistakes). If you’ve made a lot of financial transactions in the last five years, your credit history repair will take weeks of painstaking effort. But relentlessness has its rewards.

Credit repair tip # 4: once you’ve written the agency about the mistake, the law requires them to remove any information that is under investigation, so ensure they remove it from your file until the investigation is completed. If, after their investigation, they agree that it is a mistake, then they should have it removed permanently. Your fifth credit repair tip here is to follow up, follow up, follow up. This is vital. You have to be vigilant. It is YOUR credit report, not your neighbor’s.

Here’s a specific example: if the record shows that you used your credit card in a particular restaurant and the card was refused, you have a right to contest that entry because the restaurant charge was debited from your statement and you paid it off. Card credit repair terminals are used by millions of merchants. Repairs to these terminals are frequent, so it could be that your card unfortunately was swiped just as the terminal went on the blink.

Do it yourself credit repair is the best way to mend a financial report that may have inaccurate information reported on it or one that reveals a low score. There are many agencies on the Internet that offer consulting and guidance in financial improvement. Some of these agencies will also charge a fee to offer credit repair tips to mend a bad report. However, anyone can mend their own report with a little guidance and advice.

Blotches on a financial report can cost a consumer. When there is information that is inaccurate, then this can lower a score. A lower score means a possible denial of lending, or possibly being charged a higher interest rate. Consumers have the power to remove incorrect information from their reports themselves. Do it yourself credit repair is a lot less costly than hiring an agency to advise or guide an individual through the process.

Professionals advise that consumers cannot remove negative data that is true, from a report. One of the most important credit repair tips is that, the only way to improve a rating that reflects true and valid information is to begin the process of paying bills on time and reducing debt. However, information that has mistakenly been applied to one’s credit report, or information that has been placed on one’s report because of identity theft, can and should be removed.

The first step is for the consumer to order a copy of their credit report from each of the three major national bureaus: Equifax, Experian, and TransUnion. Credit repair tips reveal that each of these agencies may have a different picture of the consumer’s financial history. Thus, consumers need to thoroughly evaluate each report, looking for mistakes on each. If a consumer finds invalid information on their credit report, then corrections can begin. It is important that the consumer’s true character come through in the report. Free Credit Score!

For a step by step process and advice to mend a report, consumers can search the Internet for free guidance. There are a number non-profit financial management agencies that offer advice at no cost. There is also information over the Internet that will explain how to get a copy of one’s report from each of the three major agencies at no cost. Consumers should start researching how they can help their rating with do it yourself credit repair.

TIPS FOR A CREDIT REPAIR LETTER

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Keep your letter short and clear. Don’t provide details which will only confuse the situation. Refer only to the matter at hand and your desire to resolve the situation.
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Let the lender know if you faced exceptional circumstances which affected your ability to pay. Was there a divorce, illness, loss of work, move or other life event that created disruption or loss of income?

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Provide documentation. What records do you have which will verify your statements?
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If you missed payments due to life circumstances, what evidence can you provide? If your payments were not credited to your account, then you’ll need copies of cancelled checks or bank statements. Never send originals.
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Provide full information on how the lender can contact you. Be sure to place your mailing address, home phone, work phone and email on every piece of correspondence.
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Propose a solution and be specific. Can you make payments now? How often and in what amount?

Once your letter is done, make a copy of your letter and any attachments for your own files. Send your letter by certified mail. Keep all evidence that you are attempting to establish a good line of communication.

Now sit back and wait thirty days. You’ll likely find that your credit report will show the needed changes or the lender will contact your to work out a resolution.

No matter how long it takes, keep in mind that you’re repairing not only your financial information and data, but also your good name and reputation.

The first step needed to overcome a bad credit is to snatch a copy and take a look into your own credit report because incorrect information on your credit report will only make matters worse if you already have a bad credit rating.

According to the US Public Interest Research Group, one quarter of the credit reports ordered contained errors. You can order a copy of your credit from three credit reporting agencies – Experian, Trans Union and Equifax. You are entitled to one free copy of your credit report per year, and each time you are refused credit, employment or insurance.

Repairing your bad credit is never easy, but there are solutions that can help you get out of debt. Everyone has bills and sometimes bills can get out of control. Because paying your bills is an ongoing process, the best possible solution when you are in trouble is by asking for help and working to get your debt under control.

Since new laws make it difficult for consumers to restore their credit rating, it might seem impossible to get out of trouble. However, under the law it is possible to get all three of your credit reports free of charge.

The first step needed to overcome a bad credit is to snatch a copy and take a look into your own credit report because incorrect information on your credit report will only make matters worse if you already have a bad credit rating. Free Credit Score!

According to the US Public Interest Research Group, one quarter of the credit reports ordered contained errors. You can order a copy of your credit from three credit reporting agencies – Experian, Trans Union and Equifax. You are entitled to one free copy of your credit report per year, and each time you are refused credit, employment or insurance.

If you are sure that there are false Statements on your Report, write a letter to each of the Credit Reporting Agencies. Explain the questionable items in detail, and provide proof to back up your claims (Paid Receipts for example). Investigation takes 30 days, and decision will be made after that period.

If you are planning to get professional help, be aware of your rights as a consumer outline in the Credit Repair Organizations Act (CROA). According to some of the provisions provided by this Act, the credit repair company cannot make false claims about their services, or charge you until they have completed the promised services, must have a detailed description of the services to be performed, duration, and guarantees if they can offer any.

One important step that can be really helpful in repairing bad credit is to negotiate with your creditors for a repayment plan keeping in mind how much you can afford and intend to pay. It may also be possible to get them to remove the charge off from your report and replace it with “paid as agreed” by offering to pay a certain amount per month. Many creditors agree to remove the negative from credits report in return for payment because they are sure that the will get their money back this way. You can also try to get them to drop the interest too in exchange for a lump sum as first payment.

Another action that can be taken in order to deal with bad credit is to get help through a credit counseling company. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit credit counseling programs. These agencies can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops, information and referrals. Certified and trained counselors will discuss your entire financial situation with you, advice and help you to develop a personalized plan to overcome your financial problems. Lexington Law Sign-Up Page

Here are some other important steps that can be taken to improve bad credit:

1.Pay all of your bills on time, which accounts for 35% of your FICO score.

2.Get a secured credit card to help reestablish your credit

3.Request in writing to your creditors to reduce the credit limits on your accounts to lower your amount of available credit since the total amount of available credit is considered by lenders even if you owe nothing.

4.Request in writing to your creditors to close some of your credit card accounts and report this status change to all the three credit-reporting agencies.