Credit Education 101
Website CertifiedPrivacy Protected
Credit Education > Credit Repair > How to be Successful in Credit Repair?

How to be Successful in Credit Repair?

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

Credit repair is a very important process to ensure your credit history is perfect and your credit score is high. This is one of those things that you have to do to ensure your life goes along smoothly. Any purchase you wish to do will be affected by your credit history and a bad one can ensure you are not able to purchase the product you have chosen. Any creditor looks at your credit history and decides whether to lend you any money and if so at what rates of interest. Thus, ensuring your credit history is healthy is extreme importance.

Credit repair starts with your credit report. A credit report contains all your past financial information. It has all the addresses you ever lived in along with your identifying information including driver’s license and social security number. It also has details of any credit offered to your over the past few years. These might include loans or any credit cards you had. The report will have details about your repayments and how well you repaid them including how regular you were with the payments. Thus, the credit report holds the key to your financial health. The credit report can be ordered from any of the three main agencies in the United States. These are Experian, Equifax and TransUnion. The law states that you can order a report from each of these agencies. Order them out and stay in touch with your financial information. If you see any error in these reports, immediately raise a dispute and ensure that the disputed entry is investigated.

When such an error shows up on your credit report, you have three options. These three options are to wait fro seven years when the entry might fall off the report, to raise a dispute yourself and get involved in the legalities of the dispute or the third and simplest option, to find a credit repair consultant.

A credit repair firm helps you raise a dispute and walks you through the process of sorting out the dispute. The first option out of these three options is clearly not an option at all. Waiting for seven years will mean your credit score will be ruined. You will not be eligible for any credits. More often than not, these errors are errors committed by the mistakes. There is no reason why you should pay more for some one else’s mistake. The second options might seem viable. The process seems straight forward. However, it is not so.

The framework of the American credit system coupled with the long winded process of credit repair is not a simple one. The replies to your request are not usually prompt. The investigations might not be commenced on time or completed on time. The representatives of the agencies are not always helpful and do not provide you with relevant and helpful directions. The easiest option is to hire a credit repair firm. These firms make the entire process simpler by assuming responsibility for everything. These firms also go through a similar process. However, they have more time and more experience dealing with these problems. They are better equipped and will definitely get the repair done.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.