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!

Credit Repair Made Easy

In recent years, more people than ever before have found themselves deeply in debt with no remedy in sight. For many of those people, filing bankruptcy seems the only answer. In the majority of cases, however, this is not the case. With some careful planning, skilled help and patience, people can repair their credit.

The first step toward repairing credit is to find out exactly what is owed and to whom. Current copies of credit reports should be obtained from all the major credit bureaus. Free copies of these reports are available if credit has been denied recently, usually within thirty to sixty days. If any inaccurate information is shown on any of the reports, this information should be disputed. This action may be initiated by telephone but it is better to do this in writing for documentation. Credit bureaus must investigate disputes promptly, normally within thirty days. If this time passes and no correspondence or other communication is received, the credit bureau should be contacted again, both by telephone and in writing.

Often credit bureaus will update files and not notify the individual. If this has happened, request a copy of the updated report. Credit bureaus usually furnish free updated copies. Be persistent until the inaccurate information is removed. It may have a great bearing on future creditworthiness.

After incorrect information has been removed, repeat the process with each credit bureau that carries the inaccurate information. This is necessary since the credit bureaus operate independently and changing records with one will have no bearing on the files at another bureau.

Here are some of the most disputed credit report items:

---outdated information, usually over seven years old
---inaccurate personal information
---credit information that belongs to someone else (This is quite common.)

If a large number of credit inquiries appear in the file, request that the credit bureau merge multiple inquiries from the same source. This will help future credit ratings since an excessive number of inquiries is seen as derogatory.

Always keep credit information current by obtaining copies of credit records at least once yearly after resolving problems. This will also act as an alert to any credit fraud that may be occurring.

After obtaining a credit file and starting the dispute process, evaluate your financial situation. If you find that you are unable to make at least the minimum payment on outstanding accounts, immediately contact creditors. Many will appreciate your willingness to pay and will attempt to help set up plans for payment. Do not make promises which cannot be kept. A small payment is preferable to a large payment that never arrives. Sometimes this contact can be enough to reduce payments and forestall more severe measures. If not, a more serious step must be taken.

This next step is to consult a credit-counseling agency. These organizations are invaluable in solving financial problems. They are staffed with trained individuals experienced in the credit field. Do not confuse these agencies with the commercial "credit repair" companies who claim that, for a fee, they will wipe your credit slate clean. Don't be fooled. There is no legal way to do this. Any procedures they might use are available to you free of charge.

A counselor at a credit counseling agency will take all the information concerning your financial situation, evaluate it and decide the best strategy to use in solving your problem. You will be asked to abide by certain rules while receiving services. These rules may include closing charge accounts and canceling credit cards or paying your bills through the agency. It is to your advantage to abide by the rules, as these agencies are perfectly safe. They are non-profit and will not ask you to pay for their services. Although the repayment period may be long, do not accept offers of credit while receiving services from these organizations since this will only delay the process and could possibly result in you being refused further services.

Here are some suggestions for maintaining good credit after the credit repair period is over:

---Live within your means. Do not return to the bad financial habits that resulted in credit problems the first time.

---Create a budget. Know where all your money is going. Small purchases can add up and make it difficult to meet important obligations. Keep records of all money spent for one month. This detailed record will show where spending cuts need to be made. It will also alert you to any spending problems.

---Plan for financial emergencies by depositing a fixed amount of income to a special "emergency" account. Do this as if paying another monthly bill. This money will insure that emergencies such as illness or loss of job do not catch you totally unprepared. Try to accumulate enough in the fund to pay bills for at least six months.

Credit Repair Is Possible - Here's How To Do It

Credit is essential nowadays. If you have bad credit, it is often difficult to rent an apartment, purchase a home, or get any form of credit loans at all. Having good credit is important in today's time.

Many of us believe that once we have bad credit that we have to live with for at least seven years. Rest assured that this is not true. If you have defaults on your credit report, it is possible to have them removed.

The first step is to obtain copies of your credit report from the three major Credit Reporting Agencies - Experian, Trans Union, and Equifax.

Your credit report is not just a record of how you are currently managing your credit accounts. Your credit report is a history of everything you are doing with your credit now, and everything you have done in the past.

The credit reporting agencies, also known as, credit bureaus receive your personal information through the same lenders who grant you credit. The credit bureaus list this information on your credit report, and then sell it to credit grantors who wish to review your credit history before they decide to grant you credit.

Once you receive your reports from all of the agencies, review each report carefully to make sure that all the accounts belong to you. If you see any errors on your credit report make sure to take care of it right away by disputing the error with the Credit Reporting Agencies.

By law, when you dispute an item, the Credit Reporting Agencies are obligated to investigate the error.

If the error or negative information is found to be false or unable to be verified, it must be deleted or changed to reflect the status that you claim it should be.

There are many resources available on the Internet. It is up to you to research the marketplace carefully to find the best guides and resources that would lead you in the right direction to fixing your credit report.

Credit Repair For Yourself

Having a bad credit rating can be a serious problem affecting people's lives in all kinds of ways. Quite apart from making it more difficult to obtain credit, a poor credit rating will mean that the costs of the credit you manage to be approved for will be much higher, meaning you'll have less money to spend on the more enjoyable parts of life.

There's no doubt that most people with credit problems would happily clean up their credit ratings if they could, and there are indeed thousands of websites claiming that it's easy to repair your credit. Some of these claims are at best dubious, while others are even downright illegal.

Unfortunately, there's no 'magic bullet' you can use to repair an impaired credit rating, at least while staying within the law. That doesn't mean, however, that you're stuck with poor credit and that there's nothing you can do. There are a few simple strategies you can use to begin to improve the situation.

Firstly, you need to get hold of your credit record. The big credit reference agencies share data among themselves, so it doesn't really matter which one of them you request a copy of your file from - they'll all contain much the same information.

Once you've obtained a copy of your file, look through it and examine every entry. Is there anything on there that looks wrong? It's not impossible for your file to have information on it that's out of date, or simply incorrect. It's your legal right to challenge any incorrect details on your file, and have them corrected if neccessary.

Make sure that any unpaid debts listed actually apply to you and not someone else - a previous occupant of your address, for example. Also make sure that any defaults you've since cleared are listed as being satisfied. While this won't remove the default from your file completely, it will lessen the impact on your rating.

The next step is to look if you have any outstanding debts which you could clear without too much trouble. Often, a debt will go unpaid during times of financial troubles, which could be paid off later on when your money situation improves. Clearing these small debts will also greatly improve your creditworthiness.

Once you've cleaned up your credit file as much as possible, and removed as much negative information as you can, it's time to start focussing on the positive - you need to get some 'good' entries on your credit file to counteract any 'bad' entries that remain.

The best way to do this is to apply for some kind of financial service that you'll be approved for, such as a credit card aimed at people with poor credit scores, or even one of the secured or prepay cards which offer close to 100% acceptance, also making sure that the company issuing the card reports back to the credit reference agencies.

As you use the card responsibly in the future, keeping up your repayments, then this will be entered onto your credit file. Over time, you'll find that your credit rating will begin to improve, allowing you to move on to more mainstream, cheaper, credit options.

Credit Repair for Free

If you are one of the 42% of Americans suffering from bad credit or a low credit score (under 720), you may be intrigued by all the "free credit repair" services offered. Before you do, you should know you can do it yourself, truly for free.

Who Needs Credit Repair?
If you are planning on ever taking out a loan, whether for a car, home or anything your heart desires, your credit score will be key in determining your interest rate. Any score under 750 should be repaired as best as possible.

Self - Help Credit Repair
First, get your credit report. You are entitled to a free report if you are denied any service because of your credit. On the form you receive denying credit, find the name and phone number of the credit reporting company. You are also entitled to one free report a year. There are three consumer reporting companies, Equifax, Experian, and TransUnion. You can look any of these up online.
Secondly, dispute any mistakes or outdated entries on the report. In two letters, one to the reporting agency and the other to the company who's charge you dispute, include your name, address, the item you dispute, any facts and explanations, request that it be removed or corrected and include a copy of any supporting documents and a copy of your credit report with the item circled.
Third, keep balances low, pay off credit cards and apply for new credit only when needed.

Credit Repair Companies Provide No Cure for Your Credit Ails

"Do you have bad credit? We can help" is often a claim made in advertisements by credit repair companies who state they can erase negative information on your credit report. However, only time--not miracle cures or exorbitant fees--can heal bad credit.

Unscrupulous firms often rely on a portion of the federal Fair Credit Reporting Act (FCRA) which requires a credit bureau, or credit reporting agency, to omit some information on a credit report during the time when an investigation is being conducted after a challenge has been filed by a consumer.

As a result, credit repair firms will flood credit bureaus with multiple, frivolous disputes. Fees paid by consumers who are desperate for clean credit can range from a few dollars to thousands of dollars, but the legitimate negative information is never permanently erased from a credit file by the paperwork generated by a credit repair firm.

Rather, time is the best solution to an undesirable credit history.

Federal law mandates the time periods that accurate negative information remains on a credit report. Delinquent payments are eliminated from credit reports after seven years and personal bankruptcies after ten years.

Information concerning a lawsuit or judgment against you can be reported for seven years or until the statue of limitations runs out, whichever is longer.

Credit reporting company officials estimate that about 30 percent of their workload is wasted on credit repair companies which intentionally abuse laws and policies established to protect consumers.

Credit reporting organizations will provide consumers with a copy of their credit report upon request for a small fee. In addition, free credit reports are available to persons who have been denied credit within the past 60 days.

Consumers should be aware of the following facts:

Virtually every service a credit repair firm does legally can be done by consumers themselves for free or at minimum cost.

No one can legally remove accurate information from a credit report. Only time can wipe out bad credit.

Any consumer can dispute inaccurate information at no charge. Inaccurate information will be changed or deleted free of charge. Credit reports contain an easy-to-complete dispute form to help consumers who disagree with the information.

There are no miracle cures for bad credit.

Remember that lenders are in business to lend money and want to say "yes." However, their livelihood depends on extending credit only to consumers who repay their debts.

Credit repair can be simple and free without embarrassment

From my time spent as a car salesman I've noticed that most people don’t know what is really on their credit report. Once they actually see it they usually find something that they would like removed, they just don’t know how. This is a very common problem. Actually credit repair is pretty simple. You need to remove your negative credit lines and start or continue to build your positive credit with on time payments. It is really that simple.

All you need is some time or a little money and your credit score will be as good as anyone else. First you will need to get your credit report. Once you have it you need to identify the negative credit lines that you want to remove. Here is were you have to decide which one you have more to spare time or money. If you have the time you will need to send a dispute form to the three major credit bureaus. If you need a dispute form I have one available on the link below. They will have thirty days to prove that you owe the debt or they have to remove it from your report. There is close to twenty reasons of dispute so you can do it as many times as necessary. If you don’t have the time you will need to pay a professional. They are reasonable at around forty-five dollars a month for the three to four months that you will need. Whichever way you choose you will still need to add good credit to raise your score.

The easiest way to add positive credit lines is with credit cards. All you need is two or three open lines with on time payments and your credit score will raise in four to six months. Just be careful, don’t let the credit cards get you into trouble. Leave your cards at home so that you are not tempted to use them. All you want is a low balance that you can make low payments and use it to build your score.

Credit Repair Business

If you own or are looking to start a credit repair business, one thing you will definitely be needing is credit repair leads.

The benefit of buying credit repair leads is that the customer is committed to paying a professional for credit repair help.

The customer is not merely looking for information. Once they fill out the on-line form, they have clearly committed themselves to seeking the help of a professional to have their credit repaired.

These people know that in order to move forward in life, that they will have to have their credit repaired in order to start acquiring things such as cars and homes.

Sometimes getting a small secured loan and rebuilding your credit month by month is not a fast enough turn around time for the consumers that need to obtain an automobile or a home for their family in a reasonable amount of time.

If you are looking to jump start a new credit repair business, or you are looking for a new lead source for your credit repair business, purchasing credit repair leads may be the way to go.

If you take your time and do your research, you will be able to find credit repair lead companies that sell their leads exclusively and at a reasonable price, they are out there, and if you find one, you should consider giving it a shot. Best of luck.

Credit Repair And Avoiding Court

If you ever entered a courtroom, you know that the stress elevates, even if you are in the room for someone else. Courts are an automatic source for lifting stress. Moreover, to avoid the courts means we have to abide by laws and pay our debts. If you have taking out a home mortgage, car loan, personal loan, or any other type of credit loan in some instances when the loans requirements are not meet you can be subpoenaed to court.

There are several courts that handle cases that involved negligence, starting with small claims court and finally judgment courts. Any courtroom is stressful, and many of the courts will look at both cases objectionable. However, the party involved in negligence is often deemed untrustworthy.

If you want to avoid more stress than what you will endure on bad credit reports, it is important to make wise decisions before spending money you do not have.

To avoid court judgments, liens or lawsuits it is important to meet payments on your monthly installments. If you find an area of your life when you see that it will be difficult to meet demands, you might want to look into some solutions available that can get you out of harms way.

If you are paying mortgage you might want to opt out by selling your home or else searching the marketplace for loans to help you refinance and get lower rates. When you owe money, your debts are sent to collection agencies.

Once you have a list of bad debts it leaves you open to court. Creditors are people you owe and if they send your debts to collection agencies, you might be waddling in quicksand since someone else has control of your life. If you are delinquent on payments creditors, can garnish wages from your paychecks, take hold of all your tax refunds, and send you to court.

The only advantages you have when you have debts are the creditors cannot charge outrageous late fees or interest rates. The creditors cannot take a post-dated check from you and cash it until they notify you first. Creditors cannot cash a postdated check ahead of its date. Creditors cannot ask for postdated checks by frightening you with criminal suits. Creditors are not permitted to send post cards in an effort to ask for payment, nor can creditors label, or place symbols outside of an envelope to press for payments.

There are many areas of legalities and illegal acts to look for if you are in debt and threatened with lawsuits, liens, repossessions, foreclosures, and judgments. Some of the most important areas of illegal acts made by collection agencies include false unlawful authorization forms, or sending out a representative of the collection agency posing as an officer of the law.

Some creditors even harshly threaten debtors by using profanity or harassing family members by imitating government representatives.

Creditors have even tried cashing postdated checks and attempting to charge late fees for insufficient funds.

It is important that you learn your rights when your credit is in jeopardy. If you are taking to court and know your rights, you might see a way out of a bad situation. If your know your rights you might even find a way to avoid court by taking another route to stall payments.

Some collection agencies have even threaten debtors by phoning their home at late hours of the night, calling friends, family and neighbors, and so on. If you suspect you are heading down bad credit path, then it is important to document all communications between collection agencies, lenders, and other sources so that you are prepared when or if you hit the courtroom. If you see that you cannot avoid court then you want to take all the necessary steps to cover your self when you arrive on the door that is taking your control out of your hands. It is important to know that you can trust only you in most cases.

When your faith is in someone else’s control the worst possible situation can happen. In most cases, however, there is always a solution to the problem and you have the right to stand up and take back some of your control.

Credit Repair - How To Deal With A Credit Bureau

Having good credit is an essential tool in today's economy - it allows you to have a credit card, to obtain car and house loans, and many other conveniences. While you can live without good credit, a bad credit rating will certainly affect you negatively throughout your life. The key to your credit rating lies with a credit bureau. There are a handful of credit bureaus in North America that handle all reports - positive and negative - from creditors to create a credit report specific to you. If you have a poor credit history, you must take steps to engage in credit repair, and one of the first and most essential tools is to learn how to effectively deal with your credit bureau.

Credit repair begins with determining which credit bureau holds your file. To do this simply look at any rejection letter from a credit application - the letter, in refusing you credit, will indicate which bureau proved the rating. The next step is to obtain your credit history. Keep in mind that legally it is always free to obtain your credit history if you have recently been denied credit, although many organizations will imply that it is not. The only time you should pay money for a credit report is if you want to receive it instantly, in which case credit bureaus will provide an instant online report for a fee.

When dealing with a credit bureau, understand that they are in the business of collection and selling information. For this reason, it is in your interest to never provide them with any information that is not legally necessary. Legally, you only need to provide a credit bureau with your name, social security number and legal address in order to obtain your credit report. The bureaus may request a copy of your social security card, and - if the address they have on file is different from your current one - a copy of something proving your address. Although they may ask for a driver's license to prove your address, send them a copy of a bill showing your address. The reason you want to be cautious when dealing with credit bureaus is that they own many collection agencies, and if you have a credit problem you want to give them as little information as possible with which to harass you with.

Once you have received the report, examine it closely for any errors. If anything is in question, send a written request for an investigation to the credit bureau. Legally, the onus is on the credit bureau to document anything on your credit report - if they cannot document it within 30 days, it must be removed. This is the basic strategy of many credit repair companies that charge exorbitant fees: challenge everything negative. In many cases if the negative item is more than a few years old it will be difficult to verify and the item will be removed.

By learning to properly deal with a credit bureau you can engage in effective credit repair that other companies change high fees for. By educating yourself as to the legal obligations of the credit bureau, you can, in many cases, repair your own credit quickly and effectively.

Credit Repair

More than 30 million have credit problems cause by everything from late payments to bankruptcy. The American Bankruptcy Institute reports that, УThe number of bankruptcy cases filed in the 12-month period ending September 30, 2005, totaled a record 1,782,643.Ф

Whether itТs brought on by personal illness, the loss of a job, or overspending, credit problems can seem overwhelming. To ease the financial pressure you can always,

Х Fill out a change of address card at the post officeЧand then donТt move.
Х Ask the IRS to take you off their mailing list.
Х Marry your car. Assuming your car produces no income and you file jointly, you can save up to 50% on your taxes.

If you want a more serious approach to credit repair, here are three things you can do.

Clean Up Your Record
No one can legally remove accurate and timely negative information from your credit report. Details about missing a loan payment, defaulting on a mortgage, or filing for bankruptcy, stay in your history for 7-10 years. The only thing that can erase such mishaps is time.
What you can get removed from your report are errors that could result in your receiving a bad credit rating. Consumer Reports magazine estimates that almost half of all consumers have errors in their credit files.

You should request and review your credit report from each of the three major credit bureaus. If you find errors, spell them out in a certified letter to the bureau involved. Include a copy of your report with the erroneous items clearly marked. Identify what you want corrected and include copies of any supporting documentation.

The bureaus are required by law to investigate and correct any listings that are inaccurate or that canТt be verified. At the conclusion of the investigation, the bureau must send you the written results and a free copy of your report if the dispute results in a change.

Change Your Ways
Fair, Isaac and Company, the people who developed credit scoring, offer the following common sense tips for changing your spending habits:

Х Pay your bills on time.
Х If you have missed payments, get current and stay current.
Х If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
Х Keep balances low on credit cards and other revolving credit.
Х Pay off debt rather than moving it around.
Х DonТt close unused credit cards as a short-term strategy to raise your FICO score.
Х DonТt open a number of new credit cards that you donТt need just to increase your available credit.
Х Do your rate shopping for a given loan within a focused period of time.
Х Check your credit report from the three major credit bureaus regularly.

Consider Refinancing Your Mortgage
Mortgage refinancing involves taking out a new loan to pay off your original mortgage. Depending on the equity in the home, the new mortgage can be for more than the amount of the old loan, giving you cash for debt consolidation.
   
Refinancing could lower your mortgage payments, saving you money every month. It could also help improve a bad credit rating if you handle the money wisely. You can learn more about mortgage refinancing and get a free loan quote at www.easymortgagerefinancing.com.

There is one caveat to refinancing. If you plan to move in the next three years, it might not be worth it as you wonТt have time to recoup the costs of getting a new mortgage.

Contacting Creditors To Help With Credit Repair

Having good credit is almost a necessity on today's world. In most cases, credit it essential to owning a car or home, and with the proliferation of online shopping it's hard to be without a credit card. Unfortunately, some people get into trouble with their credit. They miss some minimum payments on their credit card, or let a loan go into default. When this happens the creditor will report it a credit reporting agency, who will add it to your credit history. Once your credit history is blemished, it can be difficult to repair: most things will stay on your credit history for 7 years before they are removed.

Once you're in a situation where you have a bad credit history, you'll find yourself dealing with many previously unknown problems: you won't be able to rent cars or purchase things online; landlords will hesitate to rent property to you; a mortgage may be difficult or impossible to get. This is why it's important to engage in credit repair as soon as possible: you can do wonders for your credit repair by taking proactive an early action.

One of the best things you can do if you've fallen behind on payments is to contact your creditor. Many people, alas, take the opposite approach: they feel a sense of embarrassment or shame and avoid calls and contact with their creditors. This type of behavior is shortsighted and will result in long term credit difficulty.

The best thing you can do in terms of credit repair is to contact your creditor as soon as you run into trouble with a debt. Remember that the key to credit repair lies in your credit history report, and the report depends on whether or not your creditor reports you to the credit reporting agency. In most cases your creditor will be open to discussing alternate payment plans and solutions. Keep in mind that it is not in the creditor's interest to push you away, as that could mean they get no payment at all. Instead, the creditor is likely to be open to discussing terms.

For these reasons you should always contact your creditor to ensure faster credit repair. Once you contact them, propose a payment system that is realistic both for you and the creditor. It is absolutely essential that you propose a payment plan you can stick to, and that you stick to it. The absolute worst thing you can do is default on these payments - if you do so it will seem like you were simply stalling to avoid payment from the creditor's points of view.

In general, when contacting your creditors in regards to outstanding debts, remember that their decision as to whether to report your non-payment to the credit report agency will affect you greatly, and it is in your interest to do everything in your power to convince the creditor not to do this. By contacting your creditor early and proposing a realistic payment system, you take one of the most effective steps possible towards credit repair.

Choose Your Credit Repair Company With Caution

Almost everyone has some kind of debt. Most people have credit cards, student loans, a mortgage, or car payments. Your timeliness in paying off these loans make up your credit history, something that people usually donТt think about until itТs too late and you are declined on an application. Your credit history is an important tool in maintaining your financial stability, and can have a big impact on your way of life. Once your credit rating is listed as Уpoor,Ф you will have a hard time renting a car, putting a deposit on a service, or getting a credit card. If you have bad credit, it is important to begin working toward credit repair right away, before you find that the damage gets worse.

Many people find the thought of improving their credit history to be daunting, and might understandably be tempted by a company online that offers to quickly fix their bad credit for a price. Though there are situations where one of these credit repair companies may prove useful, in most situations they are unnecessary.

Credit repair companies arenТt a realistic solution for most people, because they provide you with a service that you are able to do perfectly well on your own. These credit repair companies will have you obtain a copy of your current credit report from a credit-reporting agency. They will then launch an attack on each of the negative items on your report, in writing. They donТt do this with the idea that you have many mistakes on your credit report, but in the attempt to take advantage of the credit reporting agencyТs legal obligation to respond to all investigation requests within 30 days. In effect, the credit repair company is gambling. If the credit reporting agency fails to respond within the specified time period (difficult to do if you multiple items are challenged at once) they are required to remove the challenged item (or items) from your credit report.

This may seem clever, but it is important to remember that the credit reporting agency can put the items they removed from your credit report right back on once have the correct documentation. You could end up paying the credit repair company to perform a УserviceФ that was undone a month or two later.

Aside from this strategy that some credit repair companies use, many more companies like this regularly scam their customers. Remember that these companies, by law, must render all promised services before they accept your payment. They must also clearly outline every fee and service that they intend to provide. If you do choose to enlist the services of a credit repair company, read over all paperwork and fine print to avoid possible scams.

For most people, using the services of a credit repair company isnТt necessary. Make sure that if you do decide to use one, that you check them out completely and that they are actually able to perform a service that you can't, or don't have the inclination to do on your own.

Be Cautious When Considering A Credit Repair Company

Most people have some sort of debt. Almost everyone has a credit card balance, an outstanding student loan, or mortgage and car payments. All these loans and their payments result in a credit history, which most people don't usually give too much thought too until it's too late. Your credit history can have a major influence on your life, and once you credit history becomes poor you will find yourself unable to rent cars, obtain services without deposits, or get a credit card. This is why, if you find yourself in this situation, it is important that you take steps towards credit repair as soon as possible.

Many people will find their poor credit history to be overwhelming, and will be tempted by one of the many companies online that offer to "fix bad credit" for a fee. Although there are some situations where these companies may of use, for most people they are not necessary, and should be avoided.

The reason credit repair companies aren't useful for most people are because they rarely do anything that you can't do yourself. These companies will give the impression that they are doing things you wouldn't normally be able to do on your behalf, but it most cases they are not.

The general strategy of many of these companies will be to have you first request your credit report from the credit reporting agency, and then to launch numerous challenges to the report in writing. The idea here is not that there are necessarily many (or any) mistakes on your credit report, rather you are trying to take advantage of a legal obligation on the part of the credit reporting agency: namely, that all requests for investigations must be responded to in 30 days. If the agency doesn't respond to you in that time (and it's unlikely they will if you challenge multiple items) they must remove the item in question from your credit report.

While this may initially seem like a clever strategy, it's important to understand that there is nothing to prevent the credit reporting agency from putting the removed items back onto your credit report once they find the proper documentation. In other words: they may not be able to produce the documentation in 30 days and have to remove something, but they will keep investigating, and once they find the documentation the item will be restored to your credit report.

Besides the somewhat dubious strategy that most credit repair companies employ, you should also be careful to avoid any scams. Be advised that these companies are legally bound to render all promised services before accepting any payment from you. They are also obligated to clearly outline all fees and services that will be provided. If you do decide to use the services of a credit repair company, make sure you look over all the paperwork and fine print provided.

In most cases for most people, a credit repair company shouldn't be necessary. The only time you should use one is if they are truly able to perform services you can't do, or don't have time to do, on your own.

Beware of Scams When Repairing Your Credit

If you are in bad credit situation and are anxious in looking for a solution to rebuild your credit, then you may be tempted to answer an advertisement from a company who can promise you that they can give you an entirely new credit identity; all your bad records will be wiped off and you will have clean credit record.

You can see this type of credit repair ads almost everywhere whether or not they are true, sometimes hard to be differentiated. But, you need to aware the true of repairing your bad credit, there are no shortcuts for building an AAA credit rating. It will take time and a lot of efforts from your part to successfully rebuild your credit.

Meanwhile, your must be caution about the credit repair scams who are looking for their prospects like you to fall into their trap. Don't let you be their victim. If you are looking for a credit repair services, you must take your time to search for a reputable credit repair company. Beware of a few signs of credit repair's scams describe below:

1. Promise To Erase Your Bad Credit History Quick & Effectively

These companies will promise and even guaranteed your that your bad credit history will be erased in short period of time and your will have totally clean credit records. They normally charge high fee and need you to pay upfront fee.

2. Offer To Get You A New Identity

There are companies who will offer you a new identify. What they do is to get you apply for a tax identification number, which has the same amount of digits as your social security number, and then use it whenever applying for credit. Your record will shows clean with the new tax identification number and you application of credit can be approved.

Beware, you action may send you to jail. Lying to the federal government about your intended uses for a federal ID number is a federal offense. You need to bare the responsibility of law offensive when you get caught.

3. Offer Will Expired Today

Theses scams will pressure their prospect to sign up their plan by today because this special offer will expired tomorrow. They may use other similar tactics to urge you to put your signature into their contract. The contract will stated all the outrageous promises and of course, in return you will ask to pay for high upfront fee.

An honest & reputable credit repairing company will let you know you that your credit cannot be rebuilt overnight and they will never pressure you or trick you to sign a contract with them. In addition, they will make it clear to you, that if you do change your mind within three days of signing, you can cancel it without any obligation.

In Summary

In actually fact, nobody can repair your credit except yourself. A reputable credit repairing company will be able to guide you to achieve you goal. The only way to successfully regain your good credit is thru you own efforts such as pay your bills on time, not extend your credit limits, and be careful not to apply for too many credit lines. Do all of these things on your own and you will soon find yourself with a great credit report!

A Credit Repair Book – Get One Right Here

A good credit repair book will provide you with many tips and secrets about how to repair your credit and improve your credit score. Credit repair is not an intuitive subject. There is no need to pay for a credit report or pay someone to give you information because you are the only one that can repair your bad credit. A credit repair book is filled with many small things that you can start doing right now to get you well on the way to having a good credit score.

Armed with a good credit repair book, you will learn how to get your free annual credit report. Under the law you are entitled to receive one free report each year from each of the 3 major credit bureaus. A book will also tell you how to read this report to find out what your credit score is. It will give you practical tips to improve your credit score that you can start using right away.

You can order the credit repair book right from our site. Your search for credit repair tips is over because this book has everything you need. Find out the tips to improve your credit score by finding out what a debt consolidation loan can do for you. Creditors look favourably on this type of loan and when you use the money to pay off your bills, the monthly payment you have is usually lower than the others were when combined.

You won’t believe what a difference a good credit score will make when you apply for another loan. One thing that the credit repair book will tell you is that credit repair tips are not a quick fix for bad credit. This means that you won’t see a remarkable difference in your credit score overnight. However, with time you will see that the tips to improve credit score really do work.

If you get the credit repair book right now and get started using the credit repair tips it contains, when you request your free credit report next year, you will be pleasantly surprised. The tips to improve a credit score will show you ways of doing your own credit repair that you probably never even thought of. The credit repair book will give you painless tips to help you get better credit and better interest rates the next time you apply for a loan.

Avoid Payday Loans to Repair your Credit

If you are trying to make ends meet and are having past due bills pile up, the last resort you would want is to take out a payday loan to pay your dues. There are many sources available today that offer payday advances. To get a quick payday advance loan, you can connect online with many payday advance loan companies. Most payday loan companies do not check credit so even if you have bad credit or no credit, you can still apply for a payday loan. The loans are issued after you show proof of banking account, Social Security, Driver License and Pay stub proofs. This information is used against you, often the lenders will deduct money from your accounts including interest, and principals that apply to each loan you take out.

If you are applying for a payday loan online…Beware…Some of the sources are not even institutes that specialize in payday loans. When you are trying to repair your credit, the last thing you need to do is spend money that is not necessary. When you borrow money from payday loaners, your personal information may not be private. Since many of the lenders are outside of the United States and are out of government regulations, your information just might fall into anyone’s hands. This puts your credit at great risk. You would be wise to perform some extensive research to ensure the payday loan institute is valid and trust worthy.

Payday loans offer you a loan against your paycheck, but the downside is you will be paying higher fees to get the loan. You could be wasting money and taking a chance on your identity. Some payday loan companies offer a "free" loan to their new customers i.e. no fees as long as the loan amount is paid in full on its due date. If you are searching for help to repair your credit, it might be wise to search the market for legitimate resources that will help you restore your credit at little or no cost to you. There are Debt Counselors and Debt Management Companies available that assist people with credit repair but the best source is you. You might be wise to check out government options that are available to people with bad credit.

Many services are available to help you repair your life. The best solution is keeping up to date on your bills if possible or minimizing your monthly installments by opting for credit cards that have no fees attached and low interest rates. If you have a credit card, or else applying for a credit card avoid charging items to your cards unless it is absolutely necessary. You might want to apply for a different credit card if you card has high interest rates and discontinue your old card once you receive your new card. In some cases, depending on your credit card history, you could call your credit card company and ask them to reduce your interest rate. If you have had a good history with the company, they will most likely oblige.

If you suspect that someone has access to your card be sure to contact your provider immediately to report the card lost or stolen. Always keep this information in close vicinity to ensure a quick response. Be sure to only provide your personal information to those you trust i.e. Social Security Number and Bank Account Number. Never give information pertaining to you freely especially over the phone. If you are considering a loan to payoff your debts, check the market first before applying. The more applications you complete, the more it applies against your credit report. You might want to cut back on your utilities, i.e. reduce your heat or air conditioning, to save funds that can be applied to your bills.

5 easy steps to Credit repairs

There is an unfortunate stroke of luck and you have engrossed yourself neck-deep in bad credit. Credit repair seems to be the need of the hour. You need a dolphin-jump to free yourself from the shackles of bankruptcy and you are out of ideas. You are loaded with bank notices and warnings. How do you handle this stressful bad credit? You are just a layman and bankruptcy can dig up nightmares for you. This is really getting on your nerves. Well, the very sensation seems stinky. It feels miserable if you are glued with bad credit and you need a quick guide to credit repair.

A few handy tips, well imbibed can raise your eyebrows and get you exercising your jaw. These can give you a reason to smile and can set you back on your track. But self help may be the best help. You don’t need to be depressed. Bad credit can be repaired through a few systematic steps and make you credit- worthy in some time.

5 step guide to credit repair

1.    Getting your credit reports
There are three chief credit government departments that regulate these credit functions. TransUnion, Experian and Equifax. You need to research up and get to know their opinions about your case in specific. There is every chance of diverse viewpoints amongst all three. Those in bankruptcy hunting for credit repair need to report to only one particular bureau to whom they subscribe. Thus people with bad credit don’t need to report to all three. You can get reports from all three for $9 each and can get them free if you have been denied insurance, employment or credit due to bad credit. You can obtain them in 60 days after your rejection. The most considerable report can be considered by you as an option.

2. Examine the reports

Once you obtain the reports check them in every nook and corner for any kind of mistakes. The reports may be erroneous as these bureaus do not cross check the information provided by the credit companies to them. Be sure to look for any obsolete information and erroneous account records. Be painstaking enough while organizing and preparing points of dispute. If there are any false points there you can look to rectify them through your good habits and timely billings and fight bankruptcy.
3. Dispute reporting
Report the points of dispute to the credit bureau after thoroughly preparing a list of errors and their proper justification. Remember to keep the supporting documents, letters, identity proofs, address proofs and other important documents that can get your errors rectified. You must then send them to the credit authority to rectify the errors.

4. Dissolve bad credit and escape bankruptcy
You can use various consolidation techniques and also recommend the bank to lower your installments. You can also take various credit cards and diversify risks.
  
5. Show your credit worthiness
You can approach petrol pumps, banks, companies, shops, etc that have your previous proofs of purchase and liquidity. You can forward these to the bureau, gain their trust and repair credit.

3 Things To Look For In A Credit Repair Company Online

If it's been a while since you've looked at your credit report, you may be surprised to find errors, mistakes, or even a black mark or two. Fortunately, a Credit Repair Company can help you fix those mistakes and erase those black marks. Watch out for scammers, though, and choose a reputable Credit Repair Company with these tips:

Don't pay anything up-front

Avoid a Credit Repair Company that wants you to hand over a fee or payment before they meet with you. Reputable companies will first talk to you, assess your credit report and discuss your current situation before asking for any type of payment for their services. An up-front fee is a red flag that the company will probably take your money and run. And no matter what type of charges you may incur, be sure they aren't exorbitant. If a Credit Repair Company claims your case will cost thousands of dollars, look for another one.

Watch out for "re-inventors"

Some companies will tell you that you can wipe your credit slate clean by "re-inventing" yourself with a new social security number. But that's not true! In most cases, what they plan to do is get you a new credit report by applying for an Employee Identification Number (EIN)--used by businesses--which resembles a social security number, and you're told to use it as such. But this practice, known as "file segregation," is a scam, and it's also illegal! Avoid any Credit Repair Company that suggests this practice.

Look for one that helps you help yourself

A good Credit Repair Company will tell you (for free!) what you can do yourself, such as writing letters to creditors and contacting the credit reporting bureaus about errors. Avoid any Credit Repair Company that encourages you to do anything illegal or unethical--such as disputing a legitimate charge or fee on your credit report.

Before signing up with any Credit Repair Company, make sure you check with the Better Business Bureau. They'll have records of any formal complaints against the company, so you can avoid scammers and rip-off artists.