How To Spot Credit Repair Scams

Be leery if you are tempted to contact a credit-repair company. The Federal Trade Commission and several attorneys general have sued credit-repair companies for falsely promising to remove bad information from credit reports. Here are tips to follow:

Contact the Attorney General's Consumer Protection Hotline at 800-392-8222 to check for complaints made against a company.

Avoid companies that tell you truthful information can be changed or erased to improve your credit or that only the credit-repair company can remove old or inaccurate information. These claims are false.

Be wary if you are asked for a large sum of money before the credit-repair company completes the job. A money-back guarantee will not protect you from a disreputable company.

Avoid new credit identities

If you have filed for bankruptcy, you may be the target of a credit-repair scheme, often called "file segregation." Here, you are promised a chance to hide unfavorable credit information by establishing a new credit identity.

However, there is a problem: File segregation is illegal. If you use it, you could face fines or imprisonment.

Other scams

Consumers looking for an easy fix often are targets of other credit-related scams:

Credit by phone: Pay-per-call or 900-number services have become a popular vehicle for credit scams. Advertisements promise that "guaranteed" credit or cash loans are only a phone call away. Instead, the caller might only receive a list of banks offering low-interest credit cards or a booklet on how to establish credit — and a phone charge of $50 or more. Consumers rarely end up getting credit.

Gold or platinum cards: Beware of promotions for gold or platinum cards that promise to get you credit and build your rating. Although they may sound like all-purpose credit cards, some cards only permit you to buy merchandise from special catalogs and will not help you obtain other credit. You also might be asked to call a 900 or 976 exchange number for more information. These phone charges add up quickly.

Checking-account scam: This scam, which tricks you into disclosing your checking-account number, typically begins with a postcard advertising easy credit approval or low-interest credit card rates. When you call, you are asked for your checking-account number as "verification." Your number then can be magnetically encoded on a draft, which is forwarded to your unsuspecting bank for payment from your account.

How To Repair Your Credit With Credit Counseling

Budgeting is a skill, like anything else, and takes practice. Some people have a natural aptitude for managing their income and staying in positive standing with their debtors. Most people have some kind of debt, whether it’s a credit card bill, a mortgage, or a car loan. Managing your debts properly will result in a good credit rating, and allow you to receive credit in the future. Making late payments on your loans - or worse, letting them go into default - will leave you saddled with a poor credit rating, robbing you of many opportunities to obtain future credit. To start the process of credit repair, you must take your time and build your credit rating up again. One way to do this involves seeking the assistance of a credit counselor.

Credit counseling is usually performed by non-profit agencies, and should not be confused with credit repair companies for-profit. Credit repair companies that operate for-profit should definitely be avoided. These types of companies, especially the online variety, have a reputation for scamming their customers. Even if the for-profit credit service you end up with doesn't scam you, you’ll likely end up paying them to do something that you could have done yourself. They'll instruct you to obtain a copy of your credit report, challenge all of the negative listings on it, and maybe even suggest that you attempt something illegal to repair your credit: like getting a "new" credit rating using a different address.

Getting help from a credit counselor is the best way to repair your credit. A non-profit credit counseling service will provide you only advice. They won’t try to tell you that rebuilding your credit rating is a quick process. Credit counselors will help you make the long-term plans you need to effectively repair your credit.

A good credit counseling organization will offer you advice, workshops, and educational materials. You will learn to make and stick to a budget, which will be an immense benefit to your financial standing in the long run and crucial to cleaning up your credit rating. A good credit counselor will also provide you with one-on-one help, so you can take a look at what you’ve done wrong in the past and learn what how to make positive credit-related decisions in the future.

Unfortunately, for-profit credit repair companies propose suspiciously quick, one-size-fits-all solutions. If a company claims that they can fix your credit quickly without even knowing anything about your individual situation, they are not being truthful. A credit counselor can provide the individual attention that credit repair companies typically avoid.

The best reason to engage in credit repair with a credit counselor, is the long-term solutions that will result. You will learn how to balance your budget effectively, and make necessary changes in your spending habits. This method is far preferable to paying a fly-by-night credit repair company to provide you with a "quick solution" that has no practical, educational, or financial value to you.

How to Repair Your Credit and Buy a Home

There are three major consumer reporting agencies (CRAs), or credit bureaus, that mortgage companies use to assess a buyer’s credit rating: Experian, Equifax and Trans Union. Credit scores typically range from 300 to 850. For home loan purposes, a score of 650 or higher indicates a good credit history and will make it easy for you to secure a mortgage. If your score falls between 620 and 650, your borrowing capability will be examined more closely. And if you rate below 620, you may have a credit crisis.

When you’re in the market to buy a home and discover that you have bad credit and your score is low, don’t despair. Although it may delay the purchase of your home, there are ways to repair your bad credit rating so that you can still qualify for a home mortgage with a decent interest rate.

To evaluate your credit rating you’ll need to obtain copies of your credit reports from the various agencies. Examine them carefully to see what transactions are lowering your score.

A special note about bankruptcies: A bankruptcy can lower your credit score by 200 points or more. Repairing bad credit following a bankruptcy is beyond the scope of this article.

Charge-Offs: Charge-offs appear on your credit report if a creditor has given up trying to collect from you and ends up writing off the amount you owe as a bad debt. Charge-offs are one of the main reasons why loan applicants are denied credit.

How to Repair It: If you have any charge-offs, contact those creditors immediately and make arrangements to pay off the old debt. After a few months of regular payments, or if you repay a charge-off debt in full, submit a written request to that creditor to change the status on your credit reports.

Late Payments: Late payments are handled slightly different depending on whether they are isolated incidents or recurring problems.

How to Repair It: If you have a single late payment here or there listed on your credit report, the best thing to do is contact your creditors by phone to discuss the situation. Follow the conversation with a written request to have the isolated late payments removed from your reports. If you’re consistently late with payments, however, repairing the problem is a little more involved. You’ll need to begin by setting a pattern of paying on time over several months. Once this positive pattern is established, call your creditors (and follow-up in writing) and let them know that you’re back on track. With persistence and patience, you may be able to delete these score-lowering marks.

Reporting Mistakes: Sometimes, creditors just make mistakes when reporting to the bureaus. Other mistakes might include charge disputes that resulted in an initial late payment that was eventually reversed. Unfortunately, it’s the individual’s responsibility to spot – and repair – reporting mistakes that lead to bad credit.

How to Repair It: Once again, contact your creditor by phone and follow up with a written request that the mistake be corrected. Because the Fair Credit Reporting Act (FCRA) requires that credit agencies and their information providers investigate reports of inaccuracies, you’ll also want to contact the CRA directly to report the discrepancy.

As you work on repairing your credit rating, there are other things you can do to improve your score:

• Make sure that you pay all of your monthly bills on time

• Avoid opening new credit card accounts, including department store cards

• Work toward paying down your unsecured debt, but keep accounts open even if you pay them off

• Pay cash for the things you need instead of charging them

If, after all your work, you still score below the 620 mark, it doesn’t mean that you won’t qualify for a home loan. It may mean, however, that your mortgage will take longer to process and the terms and interest rate may not be as good as you were hoping for. Talk to your real estate agent about referrals to high-risk lenders.

Repairing bad credit can take many months to a year or more. But when you’re ready to buy a home, you’ll be glad you took the time to improve your score – and your mortgage payment will be lower because of your efforts.

How To Repair Your Credit

If you have less than perfect credit, you are probably attracted to the many commercials on TV which promise credit repair and debt consolidation. While there are many things companies can do to help you fix your credit, there are a number of things you can do yourself to get back on your feet. Many people make the mistake of avoidng their lenders. They choose to ignore phone calls or letters which are sent in the mail.

You want to make sure you contact your lenders promptly when you find yourself in a situation where you may not be able to make payments. Calling them to look for options is a responsible thing to do. They are likely to work with you, because they have a vested interest in getting back the money which is owed. If you are willing to setup a budget, most of your lenders will work with you. If you work with your lender, it is likely you won't have to worry about repairing your credit.

Even though your credit score may slightly be lowered if you have problems making payments, things will be a lot worse if you choose to ignore the lender. By showing that you are trying to pay off your debts, you will often find that your credit report remains relatively unchanged. When you decide to ignore them, this is when you will be reported to the credit agencies. Once this happens, it will become difficult to apply for a car, home, or even a job. If you are already in this situation, you should start looking at credit repair services which can help you rebuild your credit.

These organizations can help you setup a budget and payment schedule. It is also important to know your rights with the Fair Credit Reporting Act. If you have been denied employment or other things due to having bad credit, you are allowed to get a free report of your credit history. However, you have to ask for this at least two months after you've been denied. The reason why it is important to get a report of your credit history is because there may be errors.

If you find that information on your report is false, you can file a dispute with the credit agency to get the issue resolved. Though this will cost you nothing, you have to explain why the information on the report is false.

How To Deal With A Credit Bureau To Repair Your Credit

Good credit is crucial in today's economy. Good credit allows you to have credit cards, obtain car or home loan, and to take advantage of many other money-related conveniences. It is possible to live without good credit, but having a bad credit rating can affect you negatively for the rest of your life.

You might be surprised to know that only a handful of credit bureaus in North America hold the key to your credit rating, and therefore your financial future. These credit bureaus receive the positive and negative reports issued by your creditors and create your personal credit report and credit score based on the results. If your credit history is poor, it is important to repair your credit so that you don’t get turned down for a mortgage or even a department store credit card. In order to do this, you must first learn how to deal effectively with a credit bureau.

Begin by finding out what credit bureau has your file. This information will be on any rejection letters you may have from a declined credit application. Next, you’ll need to obtain a copy of your credit history. Remember that you are allowed, by law, to obtain a copy of your credit history if you’ve been denied credit, though some organizations might imply otherwise. You should only pay for a credit report if you want an instant copy, rather than to have one mailed to you, in which case a bureau will send you one for a fee.

It is important to remember that a credit bureau is in the business of collection and selling information. This means that you should never provide them with any information that you are not required to by law, unless you want them to use it against you. It is legally necessary for you to provide the following to get a copy of your credit report:

1. Name
2. Social Security Number
3. Legal Address

The credit bureau might request copies of your social security card or your driver’s license. If they ask for a copy of your driver’s license as proof of address, it’s best to provide them with a copy of a bill or something else addressed to you instead. You should be careful when providing credit bureaus information, because most own collection agencies and they will use any of the information that you provide to hassle you with the credit and collection issues that you are already trying to fix.

Examine your report closely and note any possible errors. If you have questions about a specific debt, you can mail a written request to the credit bureau that they investigate that particular debt. Legally, the credit bureau is required to document any discrepancies on your credit report, otherwise, if they don’t do this in 30 days, the entire item must be removed. Most of the credit repair companies out there will charge you fees to perform this service, but you can do it yourself for free with just a little bit of time and effort.

Learning to deal with credit bureaus will allow you to engage in successful credit repair without paying a credit repair company a high fee. When you educate yourself in what the legal obligations are that credit bureaus entail, in many cases, you can effectively repair your own credit just as quickly as a credit repair company.

How To Contact Creditors To Help With Credit Repair

Good credit has become nearly a necessity these days. Credit has become almost essential to buying a car or a home (unless you have large amounts of cash lying around) and with the advent of online buying, it's generally difficult to operate without some kind of credit card. Unfortunately, credit does cause problems for some people. Minimum payments on credit cards can be missed, or a loan could go into default and your credit rating will begin to slide. When you have negative activity, the creditor reports it a credit reporting agency, who then records it on your credit history. A tarnished credit report can be tough to clean up, as most negative items will remain stay on your report for seven years before they expire and are removed.

If you have bad credit history, you'll end up dealing with previously unknown problems. You can’t rent a car or buy things online, renting property will be difficult, and getting a mortgage may be impossible. It's important to repair your credit as soon as you notice a problem because you’d be surprised at what kind of credit repair you can accomplish by being proactive.

The first thing you should do if you fall behind in your loan payments is contact your creditor. This can be scary and many people take the opposite approach, avoiding "collection calls" out of embarrassment or even fear. Unfortunately, it’s best to deal with the problem immediately and to avoid long-term credit difficulties. Contact your creditor right away – as soon as you find you are having trouble with a debt.

Remember the solution to your credit repair process starts with your credit report, and what is on your report is what your creditor reports about you. By contacting your creditor, you may be able to discuss possible payment plans or alternative solutions. It is in the creditor's best interests to work with you, as if you go into default, they might never get payment.

There are many reasons that you should contact your creditor immediately, but most of all, it helps to speed up the credit repair process. Once you’ve contacted your creditor, suggest a payment system that works for both for you. Be sure to propose a payment plan that is realistic for you, and stick to it. Defaulting on these payments will look to the creditor as if you were just trying to stall and avoid further payment.

When you contact your creditor about your outstanding debt, be sure to remember that it is in your best interest to convince your creditor not to report your non-payment to the credit report agency. By facing up to your payment problems, contacting your creditor right away, and creating a payment system that will work for both of you, you are taking a very effective step credit repairing your credit.

Home Owners: Avoid Complications In Credit Repair

Avoiding complications in credit repair is almost important as getting out of debt.

When we have bills that were neglected simply because we didnТt have the money to pay the bills, or else we purchased items instead of paying the bills, we are in debt.

If you are considering a Home Equity Loan to get out of your current mortgageЕDON┤T!

Why? Simply because most Home Equity Loans get you deeper in debt and once you are obligated you will find the problem is more complicated than we you applied for the loan.

Lenders often target home owners with financial difficulties offering them high interest rates and making them believe it is a solution for debt relief. In most cases, this is where foreclosures come in, or selling homes come into place. The solution is only an option to get you in debt deeper. One solution then is for homeowners to consider the Reverse Mortgage Loans.

This type of loan is often as equity against your home, belongings, and so on. The loan offers a Сcash advanceТ solution and requires that the owner does not pay on the mortgage until the end of the mortgage term or when the home is sold.

Most lenders provide a lump sum advance, a line of credit, or else a monthly installment to the home owners. Some lenders even offer a combination to the homeowners. This is certainly a good solution for repairing your credit, and building your credit to a new future.

The downside is that Reverse Home Mortgage Loans often are more suitable for the older generation of people that have built equity over the years in their homes. Another disadvantage is that almost all home loans require upfront payments, such as title, insurance, application fees, origination fees, interest and so on.

Therefore, it pays to ask questions and shop around before taking out another loan to repair or build your credit. Fannie Mae Home Keeper Mortgage Programs are one of the many that offer a Reverse Home Mortgage Loan.

Another option for paying off your debts and repairing your credit is to borrow the money from family members or friends.

If you have someone that trusts you enough to loan you the money to get out of debt, it is often better than getting a loan. There are several options or questions you must consider before asking family members or friends to loan you the money to build or repair your credit.

One of those questions should be the obvious. Can these people afford to lend me the money to get out of debt? Are these people kind enough to loan you money without putting high demands on you. Of course there may be interest involved, but remember they are loaning you money they could be spending on their own bills.

Is it possible that you can repay the loan without complicating your situation further? Can I repay these people that loan me the money to free myself of one debt? How long do I have to repay the loan? Make sure there are no extra complications before asking friends or family for money to help get you out of debt.

One of the best solutions for finding a way to repair your credit is searching the options to make the money yourself. If you have a mortgage payment and struggling each month to make ends meet, you might want to sell your home. Many homeowners go for this option simply because they make more money in the long run.

Once they sell their home they are often able to repay their mortgage loan and then take out a loan for another mortgage more affordable. If you decide to sell your home to repair your credit and get out of debt, be sure that you look around for the best possible solutions in order to prevent further complications.

Make sure you know how much is owed on your home before you set a price for resell. If there are any repairs that are minor or major, try to repair them first before selling. If you canТt afford to repair the home, try to do minimal repair so that you can up the price of the home you are selling.

Home Owners Avoiding Complications In Credit Repair

Avoiding complications in credit repair is almost important as getting out of debt. When we have bills that were neglected simply because we didnТt have the money to pay the bills, or else we purchased items instead of paying the bills, we are in debt. If you are considering a Home Equity Loan to get out of your current mortgageЕDON"T. Why?

Simply because most Home Equity Loans get you deeper in debt and once you are obligated you will find the problem is more complicated than we you applied for the loan. Lenders often target home owners with financial difficulties offering them high interest rates and making them believe it is a solution for debt relief. In most cases, this is where foreclosures come in, or selling homes come into place.

The solution is only an option to get you in debt deeper. One solution then is for homeowners to consider the Reverse Mortgage Loans. This type of loan is often as equity against your home, belongings, and so on. The loan offers a Сcash advanceТ solution and requires that the owner does not pay on the mortgage until the end of the mortgage term or when the home is sold.

Most lenders provide a lump sum advance, a line of credit, or else a monthly installment to the home owners. Some lenders even offer a combination to the homeowners. This is certainly a good solution for repairing your credit, and building your credit to a new future. The downside is that Reverse Home Mortgage Loans often are more suitable for the older generation of people that have built equity over the years in their homes.

Another disadvantage is that almost all home loans require upfront payments, such as title, insurance, application fees, origination fees, interest and so on. Therefore, it pays to ask questions and shop around before taking out another loan to repair or build your credit. Fannie Mae Home Keeper Mortgage Programs are one of the many that offer a Reverse Home Mortgage Loan.

Another option for paying off your debts and repairing your credit is to borrow the money from family members or friends. If you have someone that trusts you enough to loan you the money to get out of debt, it is often better than getting a loan.

There are several options or questions you must consider before asking family members or friends to loan you the money to build or repair your credit. One of those questions should be the obvious. Can these people afford to lend me the money to get out of debt? Are these people kind enough to loan you money without putting high demands on you.

Of course there may be interest involved, but remember they are loaning you money they could be spending on their own bills. Is it possible that you can repay the loan without complicating your situation further? Can I repay these people that loan me the money to free myself of one debt?

How long do I have to repay the loan? Make sure there are no extra complications before asking friends or family for money to help get you out of debt. One of the best solutions for finding a way to repair your credit is searching the options to make the money yourself. If you have a mortgage payment and struggling each month to make ends meet, you might want to sell your home.

Many homeowners go for this option simply because they make more money in the long run. Once they sell their home they are often able to repay their mortgage loan and then take out a loan for another mortgage more affordable. If you decide to sell your home to repair your credit and get out of debt, be sure that you look around for the best possible solutions in order to prevent further complications.

Make sure you know how much is owed on your home before you set a price for resell. If there are any repairs that are minor or major, try to repair them first before selling. If you canТt afford to repair the home, try to do minimal repair so that you can up the price of the home you are selling.

Government Credit Repairs

If you are building a credit history, suffering bad credit or else your credit is great, there are sources available that will help you maintain credit, repair credit, and build credit history. If you have bad credit you must at least apply for two loans and be turned down before, the government will consider giving you a loan. Your credit report is not what is important, rather declines is the focus. There are government loans available that help people start a new business, loans for single parents, loans for education and so on. The government offers loans to the special individuals and often has 0% interest or low interest against the loans.

The government also offers grants to assist people in getting back on their feet again and the grants are yours. You do not have to repay the government anything, but you must use the money for what it was applied for. DC recently reported that there are new sources available that makes it easy for families and individuals to repair their credit and get back on their feet again. When credit is bad, we have difficulty when applying for a home, car, apartment, credit cards and so on. We are virtually disregarded in most all cases. Today private lenders and the government are teaming up to make our economy more productive by helping those in need, including repairing credit.

Other resources are available helping those of us that are re-entering the employment market as well as helping those of us without jobs. There are funds available to those of us with low and high-risk credit scores. If you need a home, consolidate debts, car, or else start up your own business the government and private agencies are waiting to help you along. Reduced loans and free programs are available that will benefit millions in the economy that are suffer with bad credit histories.

Legal Aid is one source available that can help you with repair of your credit, as well as many other sources and this source is free of charge in most all cases. If you are paying, high fees to rent an apartment you might want to fill out an application with HUD. HUD pays a certain amount toward your monthly rent each month and you are required to pay the remaining balance. Think of the money you will have left each month to apply toward building your credit history. HUD also has a solution for first time homebuyers with bad credit.

Under the Homebuyers Bill of Rights allows us the right to purchase a home if we have bad credit. The government resources and private institutes has lowered their Interest Rates to around 5% to homebuyers and extends up to $500,000 for first time buyers helping them buy a home. The government and private institutes are also offering debt consolidation loans assistance with late payments, people that are starting a new business, and home improvements. Imagine the potentials?

It is often difficult for us when our credit is bad and not knowing where to start to repair our lives is even more frustrating. If you are suffering bad credit, you might want to check in to a few options available to you that can help you get out of debt. Life does not have to be difficult and all of us make mistakes.

The Fair Credit Reporting Act (FCRA) offers us protection on our credit report. Our privacy, fairness, accuracy and other laws says that we do have hope. If you are searching for a way to get out of debt you might want to start up your own business. The government has programs specifically for small business owners. The programs will help business owners to finance their business and guarantees loans to those that are creating a plan to support them selves as well as paying their taxes to the government. This is a wonderful solution for getting back on your feet again and getting those creditors off your back.

To find out more about small business loans check with your local bank. Bad credit is misery, but it does not have to be a force that destroys your life forever.

Easy Credit Repair Done Yourself

We all know that credit is important, but what should we do if we are in need of credit repair? I know if were to find that my credit was in trouble, I would want to solve the problem myself rather than pay someone to do it. Credit repair is a serious thing since your credit determines so much of your life in today’s world. Credit can effect your ability to buy a home, rent an apartment, buy a car, or even finance your new washer and dryer. That is why you should take credit repair very seriously. There are some steps you can take to help yourself by fixing your credit problems yourself.

The first thing you will need to do is find out if you even need credit repair. To do that you will need to get your hands on a copy of your credit report. That should not be difficult, since the government mandates that you are allowed to obtain one free copy of your credit report annually. You just have to ask the right people. You can either check out the website for the Federal Trade Commission or contact one of the major credit agencies directly. When you do, though, remember that it should be free and you should only have to supply your name, address, and social security number to get it.

Next, you will want to look over your copy of the report carefully. One of the easiest ways you can perform credit repair for yourself is to spot any incorrect information on your report. All of the agencies have ways you can go about making corrections to your credit report. Even if the information is just partially incorrect, you should take the time to get the credit repair made. Also, if something just doesn’t look right to you, ask the credit agency to give you the name and number of the institution that gave the report that you are not sure about. There is a chance you can work whatever it is out with the company, which can help with your credit repair even more.

Once you are familiar with the credit repair process for incorrect information, assemble what you need. Then, send it in to the agency to make sure they make the necessary changes and repairs to your credit report. Before you do, though, be sure to make copies for yourself. If the information is lost in the mail or even misplaced by the company before the credit repair is made, you will be able to easily make another copy and get it to them quickly. It is always a good thing to keep copies of everything so that you can track the progress of your credit repair.

If you keep getting rejected for loans or credit that you believe you should be able to obtain, it is a good idea to find out why. With the law allowing you one copy of your report a year for free, there is no reason you can’t make at least the easy credit repairs. When you obtain your copy of your credit report, you may be amazed at the incorrect or inaccurate information on there, and at how easy it is to get those inaccuracies corrected. Take the time and put in a little effort and you can do some serious credit repair without having to pay someone to do it for you.

Do You Know How To Spot Credit Repair Scams?

You may see ads on TV, online, or in the newspaper claiming that your bad credit can be quickly and easily fixed. Don’t fall prey to these scam artists.

Avoid companies that tell you truthful information can be changed or erased to improve your credit or that only the credit-repair company can remove old or inaccurate information. These claims are false.

Be wary if you are asked for a large sum of money before the credit-repair company completes the job. A money-back guarantee will not protect you from a disreputable company.

Avoid new credit identities

If you have filed for bankruptcy, you may be the target of a credit-repair scheme, often called "file segregation." Here, you are promised a chance to hide unfavorable credit information by establishing a new credit identity.

However, there is a problem: File segregation is illegal. If you use it, you could face fines or imprisonment.

Other scams

Consumers looking for an easy fix often are targets of other credit-related scams:

Credit by phone: Pay-per-call or 900-number services have become a popular vehicle for credit scams. Advertisements promise that "guaranteed" credit or cash loans are only a phone call away. Instead, the caller might only receive a list of banks offering low-interest credit cards or a booklet on how to establish credit — and a phone charge of $50 or more. Consumers rarely end up getting credit.

Gold or platinum cards: Beware of promotions for gold or platinum cards that promise to get you credit and build your rating. Although they may sound like all-purpose credit cards, some cards only permit you to buy merchandise from special catalogs and will not help you obtain other credit. You also might be asked to call a 900 or 976 exchange number for more information. These phone charges add up quickly.

Checking-account scam: This scam, which tricks you into disclosing your checking-account number, typically begins with a postcard advertising easy credit approval or low-interest credit card rates. When you call, you are asked for your checking-account number as "verification." Your number then can be magnetically encoded on a draft, which is forwarded to your unsuspecting bank for payment from your account.

If you suspect a credit-repair scam, file a consumer complaint with the Attorney General's Office online or by calling the Consumer Protection Hotline at 1-800-392-8222.

Never give out your bank account or credit-card number unless you know the company is reputable. Don’t be a victim of these credit card repair scams.

Do Credit Repair Yourself – No One Else Can Do It For You

Doing credit repair yourself does not require any special knowledge. You don’t have to be an accountant, nor do you have to pay a credit repair agency to help you. The fact is that no one can repair your credit but you. Others can only give you tips to help you out. If you have bad credit, then you have to do the credit repair yourself by taking the necessary steps.

Do it yourself credit repair tips include getting a copy of your free annual credit report. You are entitled by law to get a free copy of this report once a year. This will give you a list of all your bills and tell you how much you owe. It will also tell you if you have been late with payments or have missed them completely. You will have to do the credit report repair yourself by being more diligent in paying your bills. Doing credit repair yourself also means you should take a good look at the outstanding balances you have on your accounts.

One of the do it yourself credit repair tips that you should consider when you are trying credit repair yourself is to take the bill with the lowest amount owing. Take extra steps to pay this account off in full. Accounts paid in full show up as favourable items and go a long way towards credit report repair. When you take this approach to credit report repair yourself, you will find that if you pay as little as an extra $50 on one bill per month, you will have it paid in full a lot faster.

Once you attempt credit repair yourself, you will find that it gets a lot easier as you go along. The first few months may be difficult, as doing credit report repair yourself requires you to stop spending on frivolous items. Look at something you really want to buy and ask yourself if you really need it. If the answer is no, then don’t buy it. When you start paying more money on bills and get them paid off, you will have extra money left over to pay for the frivolous items. Doing credit repair yourself is something that you have to work at. It will not show up in your credit report next month, but when you get your free annual credit report next year, you will see a big difference.

You can realistically do credit repair yourself, if you know how.

Don’t Despair With Credit Repair

Just because you have a poor credit report doesn’t mean you won’t be able to get credit. Creditors set their own credit-granting standards and not all of them look at your credit history the same way. Some may look only at more recent years to evaluate you for credit, and they may grant credit if your bill-paying history has improved. It may be worthwhile to contact creditors informally to discuss their credit standards.

If you’re not disciplined enough to create a workable budget and stick to it, work out a repayment plan with your creditors, or keep track of mounting bills, consider contacting a credit counseling organization. Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But not all are reputable. For example, just because an organization says it’s a "nonprofit," there’s no guarantee that its services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high fees, or hide their fees by pressuring consumers to make "voluntary" contributions that only cause more debt.

Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit credit counseling programs. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals.

If you are considering filing for bankruptcy, you should know about one major change to the bankruptcy laws: As of October 17, 2005, you must get credit counseling from a government-approved organization within six months before you file for bankruptcy relief. You can find a state-by-state list of government-approved organizations at the website of the U.S. Trustee Program, the organization within the U.S. Department of Justice that supervises bankruptcy cases and trustees.

Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting.

Counselors discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.

Consolidating your debt, paying your bills on time, cutting on the frivolous expenses, and preparing a budget for your discretionary income will help you overcome the mountain of credit card debt.

It may look bleak – even impossible – but if you stick to your plan, you will be able to dig yourself out of this hole.

Do-It-Yourself Credit Repair

Good credit is key to economic success. You may not give to much thought to your credit report, but good credit lets you do a lot of things that most people take for granted: get a credit card, rental a car, obtain a loan, or even get an apartment. Missed payments to a creditor, or defaulting on a loan altogether, creates black marks that are recorded on your credit report when your creditor reports them to a credit bureau. Too many missed payments or defaulted loans will leave you with no option but to start the credit repair process, otherwise, your applications for credit cards or other loans will be turned down consistently until you do.

A quick search in the classified ads or on the internet for credit repair will give you tons of offers from credit repair companies offering a quick fix to your credit problems. Most of these companies have aggressive marketing strategies that promise to fix your credit report fast for a nominal fee. Be very cautious with these companies and deal with them at your own risk –many are not only scams, but also in most cases you can fix your own credit more effectively by doing it yourself.

Remember: there is nothing a credit repair company can do for you that you can't do for yourself. Even though credit repair companies might imply otherwise, they can’t erase poor marks on your credit rating and they have no influence over the credit bureau. Most likely, the credit repair company will probably tell you to obtain a copy your current credit report and to challenge any negative items on it. You can do this yourself without actually paying someone to tell you to do it.

Sometimes, credit repair companies may even recommend that you perform activities that aren’t even legal to "fix" your credit. They might encourage you to begin working on a "new" credit rating by changing your banking information and address. Not only is this procedure illegal, it is usually ineffective. You are better off going through the credit repair process on your own. An online search will yield detailed sites with step-by-step instructions. Again, beware the source. Your best bet is going through a government-affiliate site or one that is put together by a trusted organization.

The best approach to credit repair is to first obtain a copy your credit report from the credit bureau. Examine the report closely, line by line, and make sure to challenge any errors on the report, in writing, to the agency that reported it. Challenge only items that are genuine. If your report is free of errors, you will need to repair your credit in the traditional fashion, usually involving obtaining a secured credit card that you use regularly, making regular payments on the balance. This will slowly improve your credit rating.

Most importantly, be patient and make smart budgeting decisions. Credit repair is not a quick process, and you will find that you are able to pay off your creditors given enough time. By making payments regularly and not defaulting on any loans, your credit score will eventually prove that you are eligible for credit. Although this method of credit repair is not a fast process, it is truly effective. By doing your own credit repair, you will be far more successful than if you were to employ a credit repair company.

DIY Credit Repair Tips

While many people believe that getting their bad credit repaired can only be done through a professional agency, this is simply not true. By going to a credit agency, you might find that it takes a great deal more time and money than if you just worked on it yourself. Before you get in touch with a professional credit repair service, refer to the steps listed below, and you might find that repairing your own credit is not that difficult at all.

When you repair your own credit, you must understand that it is a lengthy process that requires patience. The first thing you need to do is contact credit reporting agencies in writing, and request a copy of your credit report. Federal Law states that everyone gets a free credit report annually. You can locate the three main credit-reporting agencies that you will need to get in touch with by performing an Internet search using the terms "Credit Reporting Agencies". You might also consult your local phone directory.

Contact the agency in writing, and include the following information in your request:

1. Request a free copy of your credit report.
2. A copy of your state identification (such as your driver’s license)
3. Copy of proof of your current address (such as a utilities bill showing your home address)
4. Provide your previous addresses for the past 5 years.
5. A copy of your social security card.
6. Make sure you close the request with your signature.

Your credit report should take approximately 4-6 weeks to be generated and sent to you. If you receive a letter denying you credit, make a copy and enclose it with your written request for a copy of your credit report. If you have already received your free annual credit report permitted the free yearly report, you can use a denial letter of credit within 60 days of its receipt.

When you receive your reports from the agencies you contacted, look over each report for accuracy and discrepancies. Create a log in order to track the differences. If you find invalid accounts or errors in your reports, do not hesitate to file disputes. If you need to file a dispute, most agencies provide the forms to do so via their website. Each credit report should provide contact and account information for each creditor. Keep a log of all your debt information and creditors. Most debts older than 7 years old probably won’t appear on the report, and if so, leave them alone. Most creditors after 7 years will write off the debt, though some might continue to pursue you. Whatever the case, don’t open the Pandora’s box if the account isn’t listed on your credit report.

The next step is to contact each creditor to make payment arrangements. Most of them will be willing to work with you, while some might not be so agreeable. If a creditor is being difficult, feel free to ask for his or her supervisor or speak with someone else. Expect some creditors to be rude and unwilling to work with you. Try no to feel discouraged, be persistent, and ask to speak with someone else. Offer a settlement amount. Keep a written log of the conversation, including the person’s contact information each time you speak with a creditor.

It can take as many as 6 months to feel like you are making headway on your credit repair, but rest assured that your credit will get better within a year or two.

It is very important that while you are paying off your debts that you pay by check or money order and retain all receipts. Make sure that you request a receipt for the payment from the agency.

Continue to obtain copies of your credit reports annually from each agency. Do not create new debts while paying off your current ones. If you receive credit offers, throw them away. Remain focused on your goal to get out of debt and document your payments, contact with the creditors, their names, extension, time and date you spoke with them and list any pertinent detail regarding your conversations.

Credit Repair: Good Credit References

Unfortunately, there is no magic repair available today. You will need to dedicate a good deal of discipline, patience and effort to the task.

It will be a better idea to start with requesting copies of credit report from each of credit reference agencies. It is well known that Credit reference agencies do not make credit decisions. They only collect and give credit history and identifying information to potential lenders. If needed this information is also provided to potential credit employers.

The three credit reference agencies are Experian, Equifax and TransUnion. Most provinces provide at least one free credit report per year. You can often get your report by making a request through the automated telephone service, by regular mail and by email (in my view, a telephone request is the most easiest to get a credit report). When you get report, you must review it carefully for outdated information and errors. If you feel any problem with your credit report, you must report about it to credit companies in written. Include all supportive documentation you require to substantiate your claim.

If you are like a modern American you should have at least one negative credit reference on your report. These negative credit reference include such credit remarks as:

·Defaults (The lender has doubts that you will repay his owed funds.)
·Late Payments (It is better to pay early.)
·Liens or Judgments (Legal process by a lender to recover payment.)
·Repossessions.
·Bankruptcies.
·Excessive Credit Inquires.

As lenders don't know you personally, they just believe on a system that allows them to make a better credit decisions. If you have been denied credit, it is not a personal matter it is just a business decision. After all, would you lend money to someone who has a history of paying it back late or absolutely not paying it back? Your answer will be no, you will not like to give money to person having negative credit references. Make a plan to develop some good credit references. As you will pay off your credits, your credit report will improve that will change lenders attitude for you.

Let's start with the basics:

·Pay your bills early.
·Stabilize.
·Maintain accounts.
·Keep your head out of the sand.
·Consider online banking.

Each of these steps will help you to build good credit references with time.

Credit Repair: Evaluating What To Do

Are you wondering about what you have to do with credit repair? Or maybe you’re just curious whether your credit needs fixing or not? Last time you checked, you didn’t but who knows what could happen in five years? Maybe, you already know that you do need credit repair but you’re unsure whether to do it yourself or pay for the services of a credit repair company? Or perhaps, you’re about to undergo a credit check to qualify for a career promotion and you’re hoping to make it absolutely sure that you’ll pass?

If so, here’s everything you have to know about credit repair.

Each step that you take in credit repair must be evaluated carefully. If you’re going to do it yourself, prepare beforehand by reading credit repair books, searching the Internet for advice from experts, purchasing a do-it-yourself credit repair kit and so on.

As you read, you’ll see that the first thing everyone shall advise you to do is to procure a copy of your credit report. If you were under the impression that only finance companies, banks and merchants can ask for a credit report, you’re wrong. As long as you’re asking for a credit report done on you, then certainly you can ask for a copy. This would cost you a bit so better prepare to spend. We advise you to take at least copies of your credit reports from the following credit bureaus: TransUnion, Experian and Equifax because most financial institutions usually base their decisions on either of the credit reports provided by the aforementioned credit bureaus.

Got your copy now? Okay, roll it out and study each and every item in the list. Don’t overlook anything, even your personal records because you’re certainly not the only Lisa Smith in Washington, D.C. and who knows if the other Ms. Smith have unimaginable debts that were somehow mistakenly listed under your record? It pays to be cautious, okay. Now, with a do-it-yourself credit repair kit, they’re sure to advise you about the common things to watch out for. You’ll be surprised to know that approximately thirty percent of credit reports contain items. So who knows if you’re one of that thirty percent?

Lastly, if you find out anything to dispute, it’s time to fill up the form for disputes and then approaching the credit bureau responsible for the erroneous credit report. Take our advice and use time to your disadvantage. File for disputes during the busiest times of the year like the ones following Thanksgiving and Christmas.

Credit Repair: Don't Get Scammed

You see the ads in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims:

"Credit problems? No problem!"

"We can erase your bad credit-100% guaranteed."

"Create a new credit identity-legally."

"We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!"

Do yourself a favor and save some money, too. Don't believe these statements. They're just not true. Only time, a conscientious effort, and a plan for repaying your debt will improve your credit report.

The Warning Signs

If you should decide to respond to an offer to repair your credit, think twice. Don't do business with any company that:

  * wants you to pay for credit repair services before any services are provided

  * does not tell you your legal rights and what you can do yourself — for free

  * recommends that you not contact a consumer reporting company directly

  * suggests that you try to invent a "new" credit report by applying for an Employer Identification Number to use instead of your Social Security number

  * advises you to dispute all information in your credit report or take any action that seems illegal, such as creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution.

You could be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information. It's a federal crime to make false statements on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.

The Credit Repair Organizations Act

By law, credit repair organizations must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract. They also must give you a written contract that spells out your rights and obligations. Read these documents before signing the contract. The law contains specific consumer protections. For example, a credit repair company cannot:

  * make false claims about their services

  * charge you until they have completed the promised services

  * perform any services until they have your signature on a written contract and have completed a three-day waiting period. During this time, you can cancel the contract without paying any fees.

Your contract must specify:

  * the total cost of the services

  * a detailed description of the services to be performed

  * how long it will take to achieve the results

  * any "guarantees" they offer

  * the company's name and business address.

Where to Complain

If you've had a problem with any of the scams described here, contact your local consumer protection agency, state Attorney General (AG), or Better Business Bureau. Many AG's have toll-free consumer hot-lines. Check with your local directory assistance.

Credit Repair, A Chance For Much Needed Redemption

There are many actions that you can defend by saying "oh, I was just young and foolish then," but when talking about credit this will only get you sympathy from friends. You can pay dearly for foolish financial decisions and laziness for years after you were "young and foolish," keeping many people from realizing their full potential financially for so long that by the normal age of retirement rolls around they are forced to work 5 or 10 years longer. The answer that smart business and lawyer types have come up with is called credit repair.

This invention of credit repair has literally been a life saving thing for thousands (maybe even millions) of folks who were bit in the butt by the false flash of credit and the increased power to buy. The redemption is well worth the time, money, and effort that it takes to get your report clean—just as if you had never had a problem with debt—and allows you to get on with your life and enjoy financial freedom that you never dreamed was possible.

The best part of this answer, and the part that makes it work so well, is that it is a good deal for everyone involved. You see credit cards and other sources of credit make money when people owe them a balance but only when the person is able to make regular minimum payments on this debt. The sad thing is that there are so many people that became over extended to the point of crippling them so that they couldn’t even make the minimum payment. The loan companies are more than happy in these situations to cut their losses and the original balance back (forgiving some of the finance charge they are owed and allowing the credit repair) because money in the bank makes more money.

So the system allows people to make the credit report look as if they were regular and on time with their payments and allows them to pay back the outstanding balance at rates that will not sink them into oblivion. Credit repair is done through the legal system with lawyers making deals on an individual basis so that both parties win and are able to walk away from the situation in better shape and with a better future. The process also requires that the debtor go through some financial training so that the situation won’t repeat itself. Sound like redemption to me, and I like that sound!

Credit Repair Through Debt Consolidation

Although everyone's economic status and situation is particular, almost all of us are in some sort of debt at any given time. This can mean small debts like credit card bills or in-store financing, as well as larger ones like outstanding loans and mortgages. What this means is that almost everyone is dependent on being allowed a certain amount of credit, and without credit many things that you take for granted will become difficult. The key to your credit status at any given time is your credit report that is maintained by a credit bureau. Once you fall into default, or miss payments to your creditors, your credit bureau will receive notice and you will find yourself saddled with a poor credit rating. Effective credit repair involves many different steps, and is particular to each individual's situation. A good solution for most people in terms of credit repair, however, is debt consolidation.

One of the most important things in credit repair is to act quickly. Although your credit rating will become damaged as soon as you begin to miss payments to your creditors, it will get continually worse if you continue to do so. Many people get confused into thinking that credit is either "good" or "bad," and that once they get into trouble with a creditor it's fruitless to try and rectify it. The opposite is true, however, so even if you are in bad standing with creditors, credit repair requires that you pay off your debts as quickly as possible.

The problem, of course, is that you probably don't have the money to pay off the debts, after all, your economic situation probably was the reason for the missed payments in the first place. It is for this reason that debt consolation can be an excellent tool in credit repair. It works by consolidating all of your debts into one loan. In other words, if you have multiple outstanding debts, you take out a loan from one company, use that loan to pay the debts, and then make payments only on that loan.

What debt consolation achieves is some flexibility in situations where your debt is becoming unmanageable. Although you will ultimately owe the same amount of money, you could get a debt consolidation loan over a long term, so that your monthly payments will drop. Most importantly, debt consolidation immediately puts you back on solid footing with your creditors, and ultimately bodes well for credit repair. Things won't be perfect, but your creditors will report that you have cleared up your debts, and so the process of credit repair can begin quickly.

Debt consolidation is an important tool in credit repair because it allows your status with creditors to change very quickly: you go from someone on bad terms with multiple creditors to someone on good terms with a single one. It allows you to stop the damage before things get out of hand, and gives you the breathing room you need to engage in credit repair. In this way intelligent debt consolation is a valuable tool in credit repair.

Credit Repair Through Credit Counseling

Like many other things in life, budgeting is a skill. Some people are better then others at managing their income and keeping in good standing in regards to their debts. Almost all of us have some sort of debt at any given time: a credit card bill, and outstanding loan, or a mortgage. By managing these debts properly, you will maintain a good credit rating which will allow you to continue to receive credit in the future. If you fail to make timely payments towards your loans - or worse, you let them go in default - you will find yourself stuck with a poor credit rating, which will rob you of many economic opportunities. In order engage in credit repair, you must slowly build your credit rating back up again. One thing that can help you do this is to seek the help of a credit counselor.

In general, credit counseling is performed by non-profit agencies, and is not to be confused with for-profit credit repair companies. The latter should be avoided. Credit repair companies have a reputation for being scams, especially those ones who advertise online. Even if it doesn't turn out to be a scam, it's likely that a credit repair company will do nothing that you can't do yourself: they'll direct you to obtain your credit report and challenge all negative items on it, and may even suggest you attempt illegal activities like getting a "new" credit rating thorough a different address.

In contrast, a credit counseling service will only provide advice, and in a context that precludes a profit motive. This is the best and most intelligent way to engage in credit repair. To deny that rebuilding your credit rating will be a long process requiring time and discipline is to do yourself a disservice, and a credit counselor will help you make the long term plans and decisions you need to in order to engage in effective credit repair.

Most good credit counseling organizations will provide you with advice and workshops, as well as educational materials. They will help you learn to both make and stick to a budget, which over the long term will be extremely beneficial to your credit rating. They will also be able to provide you with one-on-one counseling, so you can examine and learn to make good economic decisions based on your particular credit experience.

The problem with credit repair companies - and the reason you should be suspicious of them - is that they propose a quick, one size fits all solution. Anyone who claims they can quickly fix your credit without knowing anything about the situation is not being truthful. A credit councilor can be crucial in providing exactly the kind of particular attention that a credit repair company will avoid.

Most importantly, if you engage in credit repair by using a councilor, your solutions will be more long term, because you will be learning how to manage your budget more effectively, and making permanent changes to your spending habits. This is far preferable to paying a credit repair company that promises a quick solution that is of no educational value to you.

Credit Repair System

The Credit Repair System has tools available that helps many debtors find relief. Credit repair system is the steps to recovering from debts, while getting back on your feet again. If you have bad credit, you already know how difficult it is to reestablish a respect in society. Struggling down many roads, I know you have asked over in your mind, "How can I get out of debt?" The truth is we all have had bad times and some of are able to get back on our feet again quicker than others do. Therefore, you are not alone in this fight to reestablish credit. Even rich people have filed bankruptcy, so do not think you are centered out from the rest of the world. In this article, I am going to make it quick and to the point, helping you get out of debt through the process.

Repair System Kit

I will guide you through a process that will lead you step-by-step through credit repair.

1. Get copies of your credit report from TransUnion, Equifax, and Experian.

2. Overview your credit report watching closely for errors (bills you did not accumulate).

3. Dispute any errors on your credit report immediately with the three credit bureaus.

4. Once your report is clear start saving money, but cutting back, increasing your income, and continues disputing other debts that may occur if necessary.

5. Lay out a budget that matches your monthly installments, a separate budget that comes close to your debts as possible, and finally a budget that meets your demands on survival after you have cut back funds.

6. Finally, start paying on your secured loans first, and work through your unsecured loans gradually.

If you follow these steps to the letter, you will eventually see where it pays off. Starting with step one we can see we need to know where we are out before we can get out of our situation. Having a basic overview of your report regularly can prevent your credit scores and ratings from being affected by errors or identity theft.

Step 1 is a basic outline of where you are at, where you are going, and how you will get there.

Step 2 is obvious. If you find errors on your report, the first thing you want to do before paying your debts is to clear up the wrong that has been done to you.

Step 3 is also obviously, since you want to find a solution to repairing your credit. If you save money by cutting back, finding a way to make more money, and budget you will have a guaranteed strategy to getting out of debt.

Step 4 the budges should match your financial situation allowing you to repay your debts and survive in the process. The budgets if carefully developed will allow you additional funds for savings if you plan your strategy right.

Step 5 once you start paying off your credit you will notice almost immediately a result. The result may be a rise in your self-esteem and confidence, but it is a start to a better future.

There is nothing more rewarding than being free of financial obligations. When you walk out in the public your friends, family and neighbors will acknowledge a nature high, and ponder on how they too can be like you. If you follow the steps you will not only notice results of relief, you will also notice an increase in your income. In addition, if you have any debts that have not hit the collection agencies, find a solution for getting those bills up to date. You can call your creditors in the first four weeks of late bills and let them know your situation, including your financial status to repay the debt. Often creditors will make arrangements for your to pay each month on your bills. Make sure you meet your creditors’ expectations, since they took a chance on you in first place.

This is the ultimate credit repair system that will get you out of debt.

Debt Repair Agencies, Debt Consolidation, and other sources are often out to take advantage of the vulnerable, so relying on your self to get out of debt is the only system guaranteed to work most times.

Credit Repair Steps

In this article, we will discuss why this credit repair is so important and how you can benefit from understanding the steps to repair your credit.

Credit repair is not easy all the time but there are answers offered to help us get out of debt. We all have payments and sometimes those payments are outrageous. Paying bills is constant and there is no break so the best potential answer then is requesting for help and working to pay back your debts.

The changes in law are making it hard for consumers to repair their credit, yet some regulations to the law make it feasible to get all three of your credit reports for free. If you have a credit history of carelessness you want to get copies of your credit reports to ensure no false claims were made against you. If the creditors or bureaus file a false allegation on your credit report you might be entitled to sue the computers.

If there are false claims against you on your report the first phase is to file a dispute against the claims. This can postpone your payments and if you don’t owe the charge, it can free you from the debt once the bureaus find that you are not liable. It is imperative that you get in touch with the bureaus immediately if you become aware of any claims made against you that you deem are not your responsibility. Equifax, TransUnion, and Experian all have a dispute hot-line on hand.

Disputing is a move in the right direction for fixing your credit. Most information on your credit report is from credit card companies, utility providers, banks, judgments, and so on. Your information normally stays on your credit report no less than seven years. Positive results regularly reside on your credit report for about ten years. Tax liens regularly reside on your credit report for approximately 15 years and bankruptcies regularly reside on your credit report for ten years.

In the introduction, you learned a little about how credit repair can be beneficial to you. The article will continue explaining the need to dispute claims that are erroneous on your credit report.

If you have some debts on your credit report that don’t belong to you, it is smart to file a dispute as soon as you can. The bureaus will look into the accusations made against you and if they find it is wrong then they will take away the claims. If the information on your credit report has no resolution then the companies will regularly delete or alter the claims against you. This is why it is imperative to keep track of your credit report.

You can also look at your credit score from the credit reports and obtain facts on how your score is affected. If you see that there are claims against you that is your responsibility and can not appear to come across a solution, it is smart to get informed. If you think credit repair companies that say they can take away items from your credit report and reduce your monthly bills, then you are misled. Nearly all of the companies are regulated by the law. This means the government has cause to think that the companies may deceive their consumers. Thus, most of the companies that say they can get you out of debt in little or no time are regularly waiting to take money from your pocket, while putting you at danger of loosing your assets.

If you want help or assistance with your credit then it is smart to go to sources that present counseling at the National Foundation for Credit Counseling. The representatives are well trained in assisting consumers obtain a solution to take away debt. They will also help get the creditors off your back. It is imperative to know your rights if you are in debt and look for a solution to repair your credit.

Building credit that has been affected is hard in a lot of cases but never impossible. Millions around the world in the past has had some financial modification that affected them negatively. For that reason, you are not by yourself and there are many that are conscious of this fact. The Consumer Response Center is a wonderful source for discovering information about your rights. In some cases, some of us have additional rights than others. Victims of Identity Theft or Military Personnel that have been robbed of their identity have additional rights than people negligent of paying on time. Recognizing what is accessible to you is the first phase to repairing your credit and becoming back on track.

Having the steps for credit repair information handy will help you a great deal the next time you find yourself in need of credit repair.

Credit Repair Specialists – They Might Help You, But Why Not Do It Yourself?

Credit repair specialists can be of help to you if you notice that there are inaccuracies in your credit report. It is important for everyone to review his/her credit report at least once a year to verify that the information it contains is correct. You can get the free report from one of the 3 major credit bureaus, or even all three if you wish. Once you notice a discrepancy that is detrimental to your credit, you have to take steps to repair it. This is where credit repair specialists can help you.

Before you contact a credit repair specialist about mistakes in your credit report, you have to make sure that you are correct when you say this is a bill you don’t owe. The specialists cannot wipe out any unfavourable items from your credit report just on your say so. If you need credit repair help for your bad credit rating, then it is only you who can do that.

Credit repair specialists will take a look at your credit report. If the report says you have a bill outstanding, for example, you do need to provide proof that you have repaid the amount in full. You have to verify all your claims of mistakes. If the bills named in the report are legitimate, then they are your responsibility. In order to have an item removed from a credit report, it has to go through legal channels, but the specialists will help you with this.

You don’t have to contact credit repair specialists if you do notice a mistake in your credit report. These people do take the work off your shoulders, but you can do it yourself. All you have to do is contact the credit bureau that supplied you with the report and notify them of the mistake. They will send you the appropriate forms to fill out and give you instructions as to how you should proceed. It doesn’t cost any money to take this route and do your own credit repair. Help is readily available from the 3 major credit bureaus and is free for you to use. Although credit repair specialists are trained for this job, you do have to pay for their help. Why pay, when you can do it yourself?

Credit repair specialists can help, but you can do it all yourself.

Credit Repair Service

Credit Repair Services

If you are in the business of credit repair services. You may have at one time considered purchasing credit repair leads.

The benefit of purchasing credit repair leads, is that the customer is committed to having their credit repaired by a professional such as yourself.

These customers are not playing games or surfing the net looking for information and merely contemplating the idea of credit repair, they are very serious about it, and they are waiting on a phone call.

Wether or not you are an established credit repair business or a start up, credit repair leads are a good option when considering lead sources.

So where is the best place to get credit repair leads?

The obvious answer would be to find a credit repair lead company, but that isn’t always as easy as it sounds.

Yes, it is easy to find the lead company via the internet, but finding a good one with reasonable pricing is where the challenge lies.

For starters, find a lead company that obtains their leads through web sites they own and operate themselves.

Steer clear of the companies that buy their leads from other companies and recycle them. You never know how many times that selling company has sold the lead.

Try to find a company that not only sells their own leads, but sells them at a reasonable price, exclusively, and in real time if possible.

Make an attempt to contact someone in their customer service department. Ask them as many questions you feel to be appropriate. If you are not satisfied with the answers to your questions, or the quality of the service you receive, than move onto the next company.

The quality of the service you receive is usually an indication of the quality of the lead you receive, so proceed with caution.

Credit Repair Secrets that No Creditor wants you to know about

When it comes to Consumer Credit Repair there are many avenues to choose from as a consumer. By far, the most effective credit repair tool is the Credit Repair E-Book. This is due to the fact that, (A) it is usually cheap (under $20) and (B) the credit law is always changing. Using a traditional book (paper back or hard back) leaves room for indirect misinformation and more importantly more money spent. An E-Book can be easily updated assuming the company or person selling the credit repair information is a well informed proprietor who keeps up with the credit laws. The other option is shelling out a small fortune to retain the services of an attorney or traditional debt consolidation company. That’s where budget comes into play for most of us.

There is one E-Book in particular that is a growing favorite on the internet, according to web hits and sales. ConsumerVictoryCredit.com has become the crowd pleaser over the past year. Taking a deeper look into the reason for their sudden popularity, is a Credit Secret that no one else offers. This would be how to utilize consumer revolving accounts to raise your credit score for free! This means that, you can legally raise your credit score using a willing party’s credit history. There are many companies out there such as, Trade Line Solutions that provided such a service. Unfortunately, they usually charge somewhere between $1,200 and $4,500 dollars. The reason for the outrageous price tag is because they guarantee your score to shoot up 200 points in 30 days. And they usually deliver, if you have that kind of money. This works by attaching your credit to commercial revolving accounts, up to 5 at a time. The more accounts you pay for the faster your credit is restored.

ConsumerVictoryCredit.com includes in their Credit Restoration Kit, the utilization of these techniques for Free. In addition it also includes: Over 25 Sample Dispute Letters to the Bureaus, Glossary and Definitions of Terms, How to Increase Your Credit Score with One Call (Bonus Chapter), and 24/7 Customer Support. This information will only set you back about $10.

Credit Repair Scam Tips

There are credit counseling services that are free of charge. Check into those.

Check with the Attorney General's office and the Better Business Bureau for complaints filed on company.

If you are asked to sign a contract, Make sure you read and understand before you sign; there could be hidden charges, etc.

Check with your creditors to make sure that the creditors will work with this agency.

Be leery of companies that promise to repair your credit. These companies can not do anything that you can't do yourself to repair your credit.

Check with the company to make sure that you will have access to payment records for payments made on your behalf.

There are several ways these credit repair scams claim they can help. For a fee they will offer to:

Clean up your credit record. Only you can do this, and it takes time, patience and a personal repayment plan. No one else can speed up the process or do it for you.

Offer you a Visa or Master Card even if you've been turned down by banks. Sometimes you must call a 900 number at a cost of $25 to $50, and you still may not receive a credit card.

Show you how to apply for credit with a new tax ID number, usually an EIN. (Employer Identification Number, used by businesses to report financial information to the government.) This is called file segregation (creating a new credit file separate from your old not-so-good credit report.) Not only is it illegal to apply for an EIN under false pretenses, if you obtain the new number through the U.S. mail or by telephone, you may be charged with mail or wire fraud and face fines and/or jail.

Ways to improve your own credit rating:

Obtain a "secured" credit card from a major bank and make the payments on time every time.

Make sure any mistakes on your credit report are corrected. The credit bureau can tell you how, at no cost to you. However, there is nothing anyone can do about negative information that is accurate. It cannot be "erased." Only timely payments for an extended period will help.

Contact a non-profit credit counseling service in your area.

If you realize you can't pay your monthly bills, contact your creditors immediately and arrange a payment plan.

Remember, there is nothing a credit repair service can do for you that you cannot do for yourself for free. It just takes time.

Credit Repair Scams: The Warning Signs

"Credit problems? No problem!"

"We can erase your bad credit Ч 100% guaranteed."

"Create a new credit identity Ч legally."

"We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!"

Do yourself a favor and save some money, too. DonТt believe these statements. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report.

This article explains how you can improve your creditworthiness but you have to remember that it can take time. If you stick to a plan you can repair your credit and get your life back to normal. Take it one step at a time and make sure that you are not planning to do anything illegal.

The Scam

Everyday, there are companies nationwide that appeal to consumers with poor credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, they canТt deliver. After you pay them hundreds or thousands of dollars in fees, these companies do nothing to improve your credit report; most simply vanish with your money.

The Warning Signs

If you decide to respond to a credit repair offer, look for these tell-tale signs of a scam:

companies that want you to pay for credit repair services before they provide any services.

companies that do not tell you your legal rights and what you can do for yourself for free.

companies that recommend that you not contact a credit reporting company directly.

companies that suggest that you try to invent a "new" credit identity Ч and then, a new credit report Ч by applying for an Employer Identification Number to use instead of your Social Security number.

companies that advise you to dispute all information in your credit report or take any action that seems illegal, like creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution.

You could be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information. ItТs a federal crime to lie on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.

Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised.

Credit Repair Scams And How To Avoid Them

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, 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.

Credit Repair Scams

УErase Bad Debt !Ф
УRemove Negative Items From Your Credit ReportФ

YouТve probably seen these headlines and others just like it promising to clean up or УfixФ bad credit. For someone who suffers from a bad or poor credit rating, these headlines are certainly an appealing offer.

Imagine finally being able to buy that new car, get debt collectors off your back, and enjoy a new found freedom from your past debts.

Sound to good to be true ? It probably is. Once you fall prey to the credit repair offer and pay the hefty fees involved to clean up your record, hereТs what happens:

1) The credit repair scam artist contacts the credit bureaus and reports that the negative information in your file is false.

2) The credit bureau removes this negative information from your report while they investigate the claim.

3) The scam artist will then show you the cleaned up version of your credit report and Уta-daФ your credit history has been fixed !

But hereТs what the scammer doesnТt tell or show you. After the credit bureau completes their investigation the negative information is placed back on your credit report.

Negative but accurate information cannot be removed from your credit profile. Only incorrect information can be removed.

Accurate information remains on your credit file for a period of 7 years from the time it is reported to the credit agencies; a bankruptcy appears for a 10 year period.

Many legitimate companies exist that can help you with your debt problems. But how do you spot a scam offer ? Easy, theyТll ask you for their fees up front. By law, credit repair agencies cannot ask for payment until theyТve provided the service they promised.

Additionally many states require that a credit repair service, whether they are for-profit or not-for-profit, must provide you with a detailed written contract, an explanation of your legal rights, and the opportunity to cancel any signed contract within 3 days.

Also, be aware that a Уcredit repair offerФ could be an attempt to steal your identity by getting you to provide personal information such as a Social Security number, bank account and credit card account numbers.

Always make sure you know who you are dealing with before accepting any offer to help you repair your credit. Those who donТt can have their credit ruined further and create more debt problems.

Credit Repair Myths Exposed

If youТve done any searching on the Internet for information pertaining to УCredit Repair,Ф youТve no doubt found that thereТs a great deal available. Unfortunately, thereТs also a lot of misinformation as well.

LetТs take a look at some of the most common misstatements youТll come across and examine them in detail.

MYTH #1
УCredit repair doesnТt work!Ф

While itТs true that credit repair is more УartФ than УscienceФ thatТs not to say it doesnТt work. If you undertake to repair your bad credit score, thereТs never any guarantee you can restore it to УperfectФ 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, itТs 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 thereТs more to the story, which brings us to myth #2.

MYTH #2
УNegative information that can be verified cannot be removedФ

This is one of those statements that are УalmostФ 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 thatТs not (or not necessarily) accurate.

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

Now letТs say that youТre sitting on your couch and say to yourself УMy grass will get cut today because I СCANТ go outdoors anytime and cut it.Ф

So will your grass get cut? Not necessarily! Just because you УcanФ go outdoors and cut your grass doesnТt mean itТs going to get done. You can repeat this statement to yourself all day long, but your grass isnТt going to get cut until you actually go outside and DO it!

Likewise, because a negative item on your credit report УcanФ be verified doesnТt mean it will be. According to the Fair Credit Reporting Act, a credit bureau must investigate and verify Уwithin a reasonable period of timeФ any item in your credit report that you dispute. If the Уinformation is found to be inaccurate or can no longer be verified, the consumer reporting agency shall promptly delete such information.Ф

Now in this context Уcan be verifiedФ clearly means verified by the credit bureauТs investigation of the item, and the Уreasonable period of timeФ has been established (by subsequent rulings) to be 30 days. So if the credit bureau doesnТt 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
УCredit repair agencies are all scamsФ

ItТs true that there ARE a good many unscrupulous credit repair agencies. But there are also some corrupt police officers, lawyers, and politicians. Yet we donТt label all members of these professions as Уcorrupt.Ф

If youТre looking for help to repair your bad credit you do need to be careful and do your УhomeworkФ when selecting an agency. There are many honest credit repair companies that are not Уscams.Ф But beware of any who make promises as to results!

As stated above, itТs 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 itТs accompanied by a money back guarantee. Otherwise, look elsewhere. And donТt forget to ask for references and follow up on them.

MYTH #4
УYou have to hire a credit repair agency or lawyer to fix your creditФ

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

MYTH #5
УItТs too difficult or complicated to fix your own creditФ

A credit repair company isnТt going to do anything for you that you canТt do for yourself! Credit repair isnТt rocket science. It involves writing letters to credit bureaus and to creditors. If youТre able to write a letter, put a stamp on it and mail it, youТre able to repair your own credit.

УGiven the proper knowledge, you can fix your own creditФ

This statement IS true! YouСre 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 thereТs 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
УYou improve your credit score by getting all the negative items on your credit report removedФ

ItТs 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, youТre 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 Уnuts and boltsФ 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 youТll 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 isnТt 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!