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Why Weaving a Good Credit history Mean Financial Freedom

By Andy Snyder
Published: Monday, November 2nd, 2009

No matter how good you are in handling your finances, there will come a time when you will somehow need to apply for a loan. It may be for a new car or a new house or for unexpected hospital to luxury bills. It just seems so impractical to acquire and pay for these things in cash when you can get a loan and pay in friendly terms. Indeed, this may sound as easy as 1 2 3, well, that is if you have a good credit history to back you up. And that is one good credit report advice to keep in mind.

Your reputation as a borrower is as important as votes to a politician. It is so essential that some credit repair companies even claim to “erase” a bad credit history when in reality, what they really do is just “repair’ your bad credit history. Once it’s there, it’s there. So a good credit report advice is to nurture your history. Being aware of your credit limit, paying your bills on time (never 30 days late), avoiding too many credits or loans in different companies, are just some credit report advice to keep in mind.

A potential borrower has to have a credit history. Put in mind that not having one is far worse than that of having a bad credit history. Lending companies receives hundreds of loan application every single day and only has the credit history of a person as a guide. Here is where the importance of credit report advice comes to place. It will explain your weaknesses and delinquencies while stressing your strong points as a borrower, so as to be viable in eyes of lending companies.

Not because you have succumbed the help of a credit repair company, means you may already sit back and relax. Their report will make or break you in the lending world. A good credit report advice will tell you to find and take time to review your history. Contest flaws if you have to. Ask the company to give more stress on your strengths as a borrower. The Fair Credit Reporting Act legislation was created to give borrowers the opportunity to do this. So maximize your chance.

Finally, keep in mind that you are responsible for every action you make. Your history is yours to make. A credit report advice gives you a options and solutions to problems in your credit history that are already existing. On the other hand, a credit repair company will try to do the best they can to present you as a credible borrower. But things will be a lot easier if, starting now; you will try to weave a good history.

 Loans are created not to burden you instead to give you options with regards to your finances. To use it properly will be advantageous not only to you but to lending companies as well. It will mean income for them and you not having the cash in your bank account squeezed.

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