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Credit Report Advice as a Tool in Good Credit Reputation

By Andy Snyder
Published: Wednesday, October 21st, 2009

Credit report advice is one of the most effective tools in troubleshooting and repairing the credit reputation of the borrower. Credit reports are the documentation of the credit analyzing companies regarding the credit handling capability of the borrower.  Although credit reports are available for both of the parties of the lenders and borrowers, the essence of this report is in the awareness that it stand for. Credit reports by the lenders are more difficult to read since they are loaded with more complex and technical terms. On the other hand, the credit reports by borrowers are easier to understand are simpler in nature. Regardless of the format being followed there are existing firms that render services to fully understand these credit reports.

Credit history is one of the most essential requirements that lending companies uses to assess the credit worthiness of the borrower. The primary concern of the consumer is to establish that such a history exists. A borrower with no credit history is even worse off than a borrower with a bad credit history. Credit histories are the main feature of credit reports. Credit report advice makes the credit report more understandable. Usually, the advices on credit reports are free services rendered by firms to promote their services like credit repairs and troubleshooting. The interests of the credit holders and borrowers are put in the best position if they opt to use these advices.

Credit reports give lending companies the needed information to approve loan proposals. The absence of these credit reports will hinder lending companies to come- up with a fair decision on the proposed loan. Although credit reports are not absolutely accurate, the venue that it gives on disputing the information provided regarding credit history is enough to make it valuable. Credit report advice will evaluate the flaws and strong points of the credit report. The evaluation that will result from this advice will open the opportunities to increase the potentials of the borrower to be deemed as a good investment through troubleshooting and repair. Credit troubleshooting and credit repair aim to make the credit score and credit report of the borrower, relatively better. The full utilization of credit report advice can give the allowance needed to make the borrower’s credit history more viable in the eyes of the lending companies.

Credit reports and credit scores must go hand in hand if both are used by a certain lending firm. However, there is a dilemma on the legitimacy of the decisions made from these two financial assessment tools. The inaccuracy of the 79% of the credit reports automatically makes credit scores 79% less accurate. Although there are existing laws that covers and protects most borrowers from the possibilities of these inaccuracies, credit report advice is still a far better advantage. The vivid enumeration of the points of information dispute in the report will level of the ground in assessing the inaccuracies of the credit report given by credit bureaus. In a way the availability of these reports put both of the lender’s and borrower’s interests more compromising and flexible.

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