Credit Education 101
Website CertifiedPrivacy Protected
Credit Education > Credit Repair > Credit Repair Benefits

Credit Repair Benefits

By Janet Lacey
Published: Sunday, September 20th, 2009

You are using credit when you are borrowing some money from a lender. You are using some one else’s money to buy goods and services for yourself. You are also making a promise to repay the loan efficiently. It is therefore natural for a creditor to check your credit history just before he lends you some money. He might want to see how efficient you are in repaying your loans. He might want to know what kind of credits you have applied for previously and how much credit you were offered. These credits might include any loans, mortgages or even credit cards.

If you have been repaying your loans in a timely and regular manner, your credit score will be high and the creditor will be happy to lend you money. However, if there have been some defaulted payments or you have not been very regular with some payments, this will reflect badly on your financial history. The creditor will not be as eager to lend you money. This affects your credit score. This could affect your life adversely. You might miss out on your dream home or the perfect student loan due to bad credit.

You should keep yourself updated with your financial history and check if all the information on it is accurate. You can order credit reports from the three major firms in the United States. These are TransUnion, Equifax and Experian. The law entitles you to get three free reports from these agencies every year. Make use of this facility and order regular reports. These reports have all the information you need. Check the report carefully. If you find any transaction you do not recognise, you can dispute it.

Disputing transactions is a simple process. Circle the disputed transaction and send over a letter disputing it to the credit report agency. Request an investigation into the matter. Send a letter to the creditor as well informing him of the dispute. Send the letter across in certified mail to get a receipt ensuring proper delivery of the mail. However, this process is simple only on paper. It is a much easier and convenient process if you hire a credit repair firm. Credit repair firms specialise in these disputes. The legal framework is very confusing and time consuming. However, these firms specialise in this task and know the entire frame work inside out. They finish the task much easier and you do not have to undergo the extra stress involved in raising your credit.

People sometimes consider the entire process to be too much of a hassle. However, credit repair is a very important process. A bad credit history will ensure you do not get the credits you wished for. Wit ha good and repaired credit you can get any loan or card you wished for. With credit repair you can have better interest rates on any loans or mortgages. You can buy houses in your dream locality. You will be able to rent houses at ease. You will be able to avail yourself of excellent study opportunities with student loans at very low interest rates. Get a credit repair firm today and enjoy the benefits of credit repair.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.