Credit Repair and the Credit Bureau Battle

Too Many Errors

Credit repair serves a real purpose. Credit reporting errors are much more prevalent and costly than most people realize. Over half of all credit reports have errors on them that are serious enough to cause the victim to pay higher interest rates and even to be denied for financing. Credit repair is about finding and correcting these errors, and there is more to it than most people realize.

Too Hard to Find

Many people dismiss credit repair as a process that requires no more than a cursory scan of their credit reports. Unfortunately, a quick scan of your credit reports will almost certainly leave almost all of the score-damaging errors undiscovered. To tap the real potential of credit repair requires an exploration of the credit reporting guidelines embodied by the Fair Credit Reporting Act (FCRA). An understanding of the FCRA is certain to reveal a number of surprising and correctable errors. And every error caught and corrected is money in the bank.

Why Credit Repair Matters

You might be shocked at the potential cost of impaired credit. You pay interest on the money you borrow, and your interest rates are based on your credit. And it adds up. If you have a mortgage, an auto loan, and a couple of credit cards a damaged credit report could be costing you thousands of dollars each year. A small investment of time today can repay you in a tangible way for many years to come.

Sneaky Defensive Credit Bureaus

If you are going to launch a credit repair project you must adopt a somewhat skeptical attitude towards the credit bureaus. It might be handy to understand that the credit bureaus are not government agencies, nor do they have any status other than for-profit businesses. They each manage billions of pieces of data for over 200 million Americans, and they are not perfect. They are interested in maintaining accuracy, but only to the extent that it is not an economic detriment. You should also keep in mind that they often take a stand against credit repair only because it is in their best financial interest to do so.

The Problem with the FTC

The FTC in very justified in their campaign against crooked credit repair operations. The only real caveat here is that the FTC operations and press campaigns against scams can be heavy handed and unhappily omit the fact that, as in every industry, there are good guys and bad guys, and there are many excellent credit repair companies capable of significantly transforming your life.

How the Bureaus Manage Disputes

Once you decide to get your credit repair project underway you need to be conscious of the fact that you need to work thoughtfully, and even respectfully, within the credit bureau system. It is essential to understand the FCRA and to focus your disputes in areas that you have leverage, but it is equally important to understand that you will face some resistance. The credit bureaus receive mountains of disputes every day and have the right to refuse to process any request they feel is frivolous. They use this right liberally, and you need to be patient; determined, but patient.

Collectors and Credit Repair

Another somewhat recalcitrant group of participants in the credit reporting process is collectors. They are governed by the Fair Debt Collection Practices Act (FDCPA), and in their interaction with the bureaus by the FCRA, but there are so few repercussions for failure to comply that an amazing number of errors, intentional and otherwise, slip through the cracks. And the unwary consumer pays the price.

Winning the Credit Repair Battle with Collectors

When it comes to collectors appearing on your credit report, doubt your eyes. Take the time to understand how reporting period limits work, and how collectors reset them causing collections to report many years past their legal reporting limit. And to defend yourself against any active collectors you will also need to understand how statutes of limitation work. When it comes to credit repair a little homework really pays.

Professional Credit Repair Services Work

Not everyone has the time available to master the details involved in credit repair success. Nothing can affect your financial life like your credit. You simply cannot afford to do half the job. It’s your credit, and you owe it to yourself to make sure the job is done right. Either invest in a couple of good books and put in some serious study time, or hire someone to do the job for you. Credit repair is all about the details. It’s not hard to get the results if you do it right. Good luck!

Copyright © 2009 Ian Webber. All Content. All Rights Reserved.

Ian Webber is an expert in consumer law and credit repair. Ian is a graduate of the London School of Economics and The University of Chicago where he earned his LLM. Ian consults with one of the leading online credit repair services and is currently based in Florida.

Steps to Turn Your Bad Credit Into Good Credit

When stuck with a bad credit history, one needs to act quickly. The fact is, there is something you can do about bad credit. In this article, let’s tackle the positive steps you can take so you can turn your bad credit into a good – to excellent one.

Check your credit report. The first thing to do is to understand the cause of the problem. Why do you have a poor credit score? Perhaps there might be false charges in your report that contribute to your poor rating.

If you find errors in your report, contact the credit bureau right away and have these errors corrected. Checking on your credit report will also help you see the status of your accounts with each of your creditors. This way, you can create an efficient repayment plan to resolve the problem.

Get a bad credit credit card. Bad credit credit cards are tools for rebuilding damaged credit. In fact, even those with no credit history can also use a bad credit credit card to establish one. Find a credit card that reports to the three major credit bureaus to ensure that all your payments will be properly reported.

More importantly, make sure that you submit your credit card payments on time and that you stay within your allotted credit. After six months to a year, you should be able to see an improvement in your credit score.

Take note that credit cards for bad credit require you to submit a deposit in your account as security for you r debts. Usually, you can submit $ 500 to $ 1,000 into your deposit account as security. The amount you deposit will often determine the amount of credit that will be given to you.

Once approved, use your bad credit credit card only for important purchases and make it a point to pay off your balances before your grace period ends. This will not only help you avoid the interest rate but will also work well for your credit.

Stop using your credit cards. This isn’t the time to continue swiping those credit cards in your wallet. If you must use a credit card to keep it from automatically closing, use it for only small or cheap charges. Most of all, don’t forget to pay your charges completely before your due date of payment.

Never use your credit card for cash advances. It is cheaper for you to charge a purchase to your credit card than take out a cash advance and use the money for purchasing the same item. Why is this? Cash advances are not covered by the grace period so you automatically incur the interest rate the moment you take your cash. Add the transaction fees and you end up unnecessarily spending more money than you should.

Don’t submit applications for new credit. This isn’t the time to submit credit card applications or loan applications to lenders. Too many inquiries will only hurt your credit score and if you get declined by a creditor, it will only pull down your credit score all the more. If you have plans on getting a loan, work on your credit history first. A better credit score will not only help secure your approval, it will also help you get better rates from your lenders.

Liz Roberts is a freelance writer and loan consultant. The website offers resources that specialize in providing bad credit loans and credit cards for people with bad credit.

Credit Repair and the Recession

An Urgent Need for Credit Repair

Credit repair has become a necessity. Prior to the recession you could afford to have blemishes on your credit report; lenders didn’t really care. If your credit score was a little low you would simply pay a modestly higher interest rate. Not the end of the world. But along with the recession came the most dramatic credit crunch ever. It started with mortgage lenders as they scrambled to mitigate risk in their real estate portfolios. Over the following year every other creditor followed in step. One thing leads to another and now millions of people are finding that without some form of remedial credit repair effort they are unable to purchase anything on credit.

The Credit Crunch

The severity of the credit crunch has taken many by surprise. In mid-2006 money was flowing freely. The economic froth was beyond anything the world had seen since the roaring twenties. Even then credit repair paid dividends, it’s true, but there was no desperate need. You could purchase a home with credit scores in the low 500s. You might even get an interest rate as low as one percent, albeit an adjustable rate mortgage. But, oh, how times change. Now, for millions of people, the lack of an intelligent credit repair effort can mean no loan at all. And the non-availability of credit can mean real hardship. Just think of something as simple as automobile financing. Can you do without a car? Urban dwellers might get by with public transportation, but that is not the case for most of us.

Is Credit Repair for You?

Credit repair can change everything, and quicker than you may think. Credit repair can be done by you, but for most people it is worth considering employing the services of a professional credit repair service. A professional service will offer comprehensive clean up and restoration with a focus on credit score optimization. If you are shopping for the right credit repair company, make sure they offer more than just credit bureau disputes. Your goal is to improve your score and make your credit as lender-ready as possible. The right company will produce the right results. How about you, are you a candidate for credit repair? If you have examined your credit reports and imagine that there is little benefit to be had, I would like to share a little information that might inspire you to take a step towards credit repair today.

A Lot of Mistakes

Almost three-quarters of all credit reports contain errors. Not all of these errors are significant enough to cause major financial disruption, but a lot of them are. How many? According to a series of studies conducted by public interest research groups over the last decade about half of all credit reports include errors serious enough to cause consumers to pay premium interest rates or to be denied outright for loans. To put these statistics into perspective it helps to know that the three major credit bureaus each report on just over two hundred million Americans. Half of the total is one hundred million. That’s a lot of mistakes. Where do you stand? Here are some things for you to consider.

Your Credit Repair Opportunity

Credit reporting errors are not always easy to spot. You may have multiple errors which could use credit repair attention, and not even know that they are present on your credit reports. One of the most insidious forms of reporting errors is caused by the redundancy of illicit collection accounts. The cause is simple. Collectors buy and sell debt on a regular basis. By law, a collector is supposed to withdraw their reporting of a collection account immediately upon the sale of the debt to another collector. And yet this rarely happens for the simple reason that there is no punishment for compliance failure. Other common errors needing credit repair attention include duplicate accounts, accounts reported as open with balances that are closed and paid, underreported credit limits on revolving accounts, and file merger errors causing other peoples accounts to report on your credit.

Reach Out Today

It’s time to reach out for credit repair help. Shop the internet; call three or four credit repair services before making up your mind. Most legitimate companies offer a free consultation. I suggest that you take advantage of this. You should make a list of questions that you want to ask. Be organized. Think about the issues that are of concern to you. Make notes. It is important to feel comfortable with the company you hire. Take your time and do it right. Your credit repair project is bound to succeed. Good luck!

Copyright © 2009 Ian Webber. All Content. All Rights Reserved.

Ian Webber is an expert in consumer law and credit repair. Ian is a graduate of the London School of Economics and The University of Chicago where he earned his LLM. Ian consults with one of the leading online credit repair services and is currently based in Florida.

Related Credit Articles

Tips For Restoring Your Credit in the Aftermath of Foreclosure

With foreclosures hitting record levels, many people are having to sit down today and wonder how they should go about restoring their credit in the aftermath of a foreclosure.

I am not going to lie to you. It will not be easy, and it will take some time to work out, but it can be done.

Most people simply file bankruptcy and wait ten years for that foreclosure and bankruptcy to drop from their record. At this point in this article, it is very important to note that you just cannot wait for the for foreclosure and bankruptcy to drop off your credit report. The law says that after ten years, the credit bureau must drop those records from your credit report, but they will not do so unless requested to do so by the consumer. So when your time comes, be sure to get in touch with the credit bureaus and request for them to drop the records that will hamper your credit status.

Secured Credit Cards

One of the easiest methods available to help people rebuild their credit starts with a savings account. With as little as $ 300 in hand, one can go to companies such as the Bank Of America to request a savings-backed credit card.

The Bank Of America Secured Visa Credit Card required a minimum deposit of $ 300 and a maximum deposit of $ 10,000, and it requires a $ 29 annual fee.

In essence, you will deposit money into a Bank Of America security deposit account, and BofA will make available to you a credit card that has a maximum limit equal to the amount of money you have in your BofA security deposit account.

You can use your BofA Secured Visa Credit Card as you use any credit card, to make purchases at stores or to get a cash advance from an ATM machine.

Keep in mind that Bank Of America will not draw money from your security deposit account to make your monthly payments. You will still be required to make the minimum monthly payment each month that you have a balance, and your security deposit account only exists to ensure that BofA will be paid in the event that you default on your secured credit card.

Although you are only required to make the minimum payment each month on your secured credit card, BofA recommends that in order to rebuild your credit more quickly, you should pay your payment in full each month.

The Bank Of America Secured Visa Credit Card is one of the most recommended secure credit cards available in the marketplace, although it is not the only one.

Another popular secured credit card is the one issued by the New Millennium Bank, which you can learn about here:

Secured Bank Loans

Back in the 1980’s, I had built my credit using a process that was recommended in a book.

I started with a cash deposit of $ 1000 at a local bank. I then acquired a loan from that bank, secured by the savings account that I had opened there.

I took that money borrowed from the first bank, and deposited it in a second bank. From that second bank, I obtained a second loan secured by my second savings account.

With the money acquired from that second loan, I set up a savings account at a third bank, and then I left that money alone.

You can trail this process out as far as you want, but I only did it with two loans myself.

Each month, I paid my loan payment when it became due. If I was short cash that month to pay both of my bank loans, I would take money from the third savings account to make that payment. Otherwise, I would just pay the loan payments out of pocket.

For what amounted to be a few dollars interest, I managed to pay off two $ 1000 loans in one-year, at two different banks. At the end of the cycle, I repeated the cycle, letting my first bank keep the cash on hand, and the third bank to become a new lender.

Of course, I had managed to save some money over that first year, so when I repeated the process in the second year, I did it with $ 2000 instead of the original $ 1000.

By the end of the second year, three banks were offering me loans and many credit card companies were also looking to loan me money.

Bank Loan Advice

The trick to borrowing from a bank is to pay off your loans over the stated term of the loan. If you take a one-year loan and pay it off in a couple of months, then you will have gained no positive favor on your credit report. The reason why paying early does not always benefit the borrower, is because the bank was not able to see that loan payments can be paid “on time”.

Whatever loans you may take from a lender, you should always maintain payments for a minimum of six months, before paying off that loan. To do otherwise will not yield a positive mark on your credit report.

So long as you keep your loan running for a minimum of six months, there is no problem in paying off your loan early. Some people get ahead on their credit reports by paying double payments each month.

As recommended by some economic guru’s, you may also consider making thirteen payments a year, instead of the standard twelve payments per year. If you think about that, all you need to do is to make one payment every four weeks, as opposed to making one payment each calendar month. This works really well towards paying down your principle on a home mortgage or car loan.

Another recommendation that many guru’s suggest is to make semi-monthly payments – payments every two weeks. This is beneficial in that it reduces the overall interest you will have to pay over the life of the loan, since interest is always calculated against the amount of principle due on payment dates.

Small Loan Companies

In the small consumer loan market, there are a lot of loan choices available to the consumer.

Of course, there are the loan companies who specialize in loans that can be used to purchase furniture or consumer electronics.

There are also loan companies that specialize in loans of up to $ 500.

With these types of loan companies, the same rules apply as recommended above. Also with these loan companies, if you ask them to do so, they will report your positive payment history to the credit bureaus.

There are also the loan companies that specialize in what is called payday loans or cash advance loans. With these companies, you are in effect getting a loan that will come due on your next payday, hence the description – payday loans.

Payday loan companies should not be employed to build credit, as it is the most expensive type loan you can acquire. You can use it when you are meeting a cash shortage to help you get over that next hump, but you should only borrow from the cash advance company when you know for certain that you will be able to pay the loan back on your next paycheck.

Rebuilding Your Credit

Rebuilding your credit requires determination, dedication and discipline. You have to start small and work your way up the credit ladder.

I know that what I am getting ready to tell you is going to be hard to believe, but my hand on my heart honest, it is God’s honest truth.

A couple decades back, I knew a kid – I say kid, but he was in his twenties – who worked for minimum wage as a dishwasher in a restaurant.

This lowly dishwasher had better credit than I did; he even had better credit than the guy who managed the restaurant – I was friends with the restaurant’s manager. This is true… I swear.

This young man lived within his means and paid all of his bills on time, and in full, every month.

Soon, he started receiving credit card offers, which he accepted. With his credit cards, he played by the same rules. He lived within his means, and paid all of his bills in full and on time every month.

After about five years, he bought a motorcycle to help him meet his transportation needs. Of course, he made those payments on time and in full every month.

Soon, he was able to finance the purchase of a home. And as you would imagine, he always made his house payment on time and in full every month.

When I last chatted with him, he was still working as a dishwasher for a bit more than minimum wage. He owned his own transportation and his own one-bedroom house, and he had credit cards in his pocket that he could tap any time he wanted to do so that in total offered him a credit line of – get this – $ 120,000!

This lowly minimum wage employee had a credit line large enough to buy the best stuff money could buy, but he maintained the lifestyle that he was accustomed to living – living within his means and never spending more money that he could afford to pay back.

Now, that is discipline. He has the credit available to run out and buy a nice big screen television, yet he would not do so, because he knew his finances would not let him pay that money back quickly.

I learned a lot about credit in having known that young man. I hope that you have also learned something by knowing his story.

Fred Vanhoosen writes about the payday loans / cash advance industry. To learn more about the payday loans industry, we recommend reading the following overview of the cash advance loans concept. Learn more at:

More Credit Articles

10 SureFire Ways To Get a Credit Card When You Have Bad Credit

In today’s economic climate, it’s become nearly impossible to find a credit card issuer willing to cater to people with bad credit. Among the few financial institutions that do offer bad credit cards, many have tightened their qualification guidelines for approval.

Although it’s easy to qualify for department store or gasoline credit cards when you have bad credit, a secured credit card is still one of the best ways to rebuild your credit. In order to qualify for a secured credit card, all you need to do is deposit money in a blocked bank account to guarantee the line of credit.

To literally guarantee your odds of obtaining a secured or bad credit card, you have to take proactive steps prior to submitting your application. Study each credit card application carefully. When you’ve finally narrowed your decision down to one or two particular bad credit card applications, it’s time to take 10 important steps to ensure your application will be approved.

1) Repair Your Credit File

If you have a bad credit file, obtain copies of your credit report from all three credit reporting agencies and work on removing incorrect derogatory information before you apply for a card. This will increase your chances of obtaining a card, especially the easy qualifying department store or gasoline company ones. Review your debt to income ratio. Banks don’t want to see you apply with high fixed monthly obligations exceeding 32-36{77e4f13bffff39a77640d2f040ceda7a1e812745d41e2ba69a482d80ad5e3070} of your monthly income.

2) Apply With Banks Specializing In Bad Credit

Select secured credit cards from banks who aggressively market to individuals with bad credit. They want you as a customer and you’re pretty much guaranteed to be approved. Another excellent way too find credit cards for people with bad credit is to ask family and friends who have been bombarded with offers of secured credit cards. You can also check with the financial institution where you bank and see if they offer a secured credit card.

3) Use the Same Name

Be sure to consistently use the same name on all your card applications. For example, don’t use your middle name on one application and not another. Also pay attention to generations like Jr. and Sr.

4) Beware of Multiple Applications

Don’t submit more than two to three simultaneous applications within a 2 week period. Multiple inquiries into your credit can lower your credit score and give banks the impression you’re desperate because other financial institutions are denying you credit.

5) Apply for Easy Qualifying Cards

Take advantage of pre-approved department store, retail, and gasoline cards. They are easy to get and provide an excellent lift to your credit history. Be sure the bank reports your transactions and payments to your credit report. Being responsible with timely payments on these card will definitely earn you an opportunity to obtain an unsecured credit card within 6-12 months.

6) Honesty Pays Off

Be honest on your application about previous financial problems beyond your control. Most bad credit card issuers are willing to overlook a bad credit history if you can document extenuating circumstances such as medical illness or a job loss.

7) Make Sure Your Application is Complete

Accurately complete the entire application to the best of your ability. A good strategy for a professional looking application is to type it out. List down a checking or savings account. Banks prefer their applicants to have some kind of established relationship with a financial institution.

8) First Impressions Count

Present yourself as a responsible applicant with a promising career. While you don’t want to lie on your application, don’t minimize your job title if you can express it more professionally.

9) Diligence Pays Off

Don’t give up if you are denied a credit card. Contact the credit card company and find out why you were denied a card. Then take efforts to correct the problem by contacting the credit bureaus. Find out from the bank what it would take for you to qualify for a bad credit card. Don’t give up!

10) Timing is Everything
The best time to apply for a bad credit card is when your job situation has been stable for a while, you’ve lived at your present address for at least a year, and you haven’t had many credit checks recently.

Even though your secured card options may be fewer today, you can almost guarantee the odds of your application being approved just by following these 10 important steps. Once you receive your new secured credit card, use it responsibly and watch your credit score improve.

Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby’s reviews of the hottest bad credit cards for bad credit at Bad Credit Card Tips web blog.

Get Bobby’s free 33 Days To Near AAA Credit course. Click – .

Open New Accounts For Credit Repair Success!

You Need New Accounts

Your credit repair success depends on the presence of positive accounts on your credit report. Many people jump into a credit repair program thinking only of disputing the derogatory items on their report. Removing reporting errors is an important and even exciting part of any credit repair effort, but unless you have current open accounts that are registering timely payments each month your FICO credit scores will languish and you will be left wondering what went wrong.

The Logic

The logic behind the need for open active accounts is simple. Your credit score is designed to provide prospective lenders with a predictive measure of the likelihood of you being a good lending risk. The credit scoring algorithm searches through your credit file for proof that you are a capable and responsible borrower. It wants to see that you are alive and well and paying your bills. If the scoring software scans your file and cannot find any proof or your payment abilities you will not be rewarded with a good score regardless of how successful your credit repair program has been in deleting the problem accounts.

Secured Credit Cards

Recent events in the credit markets have left lenders less willing to take chances. If your credit is not great there is little chance that you will get approved for a credit card. This is the situation that many people face when starting a credit repair program. But there is a solution. Just get secured credit cards. Secured credit cards require that you open a small savings account to back up the amount of the credit line of the card. For credit repair purposes the size of the card is not important. I often suggest to clients that they open secured cards with the minimum amount required as the score benefit is based on proper management rather than size. The optimal number of cards for rebuilding your scores is two.

Avoid these Common Errors

Once your secured credit cards are active you should use them. There are two common mistakes that people make with new secured credit cards that will limit the benefit and even end up hurting your score. The first error is not using the card. It is not enough to open the account; inactive accounts are soon ignored for credit score calculation. The second error people make, and the most damaging for your credit repair effort, is using the full amount of the card. This can be tempting (and easy) to do with a card that has such a small limit, but a maxed out credit card can lower your credit score by over 100 points. The right way to use these new cards is to keep a small balance, but do not use more than 20{77e4f13bffff39a77640d2f040ceda7a1e812745d41e2ba69a482d80ad5e3070} of the available credit line.

The Mechanics of Your Score

Here is some information that will shed some light on your credit repair effort and help you manage your credit for the best possible results. The FICO credit scoring software analyzes the relationship between your account balances and their respective limits. The levels of card usage recognized are 20, 40, 60, 80, and 100. The lower your usage, the higher will be your score. You might find it helpful to think of the lower two tiers as giving bonus points, 60 percent usage as being neutral, and the two top levels as the penalty zone. Take this seriously. As mentioned earlier, a maxed out card can cost you over 100 points on your score.

You are in Control

Have you maxed out your credit cards and seen your score fall? Don’t worry. There is some good news about revolving balances and your credit repair. Your credit score will recover instantly when you pay your balances back down. This means that, theoretically, you could keep your balances at the cards limit until you needed your credit scores to be at their best. If you decide to manage your cards in this manner, just be conscious that it can take up to 60 days for your new reduced balance to be reported on your credit report, so make sure to pay those balances down well in advance!

Credit Repair Services

Do you need credit repair help? Many people benefit greatly from having a professional credit repair service examine their reports and build a comprehensive plan for cleaning and restoring their credit. A professional service will make sure that every available strategy for score improvement has been considered. It’s worth a look. You will discover that professional credit repair is extremely affordable. Good luck!

Copyright © 2008 Edward White. All Content. All Rights Reserved.

Ed White is a credit repair expert and financial consultant. In addition to his own private practice he consults for one of the nation’s leading credit repair services. Ed is a graduate of the University of Pennsylvania and has a degree in economics.

Quick Credit Repair Techniques that Work!

Now is the time to do something about your credit. There are many credit repair techniques that can clean up your reports and get your scores moving in the right direction. And you will not have to wait years for results. Time can play an important role in credit repair, but it can just as easily work against you. Credit reporting errors are common and will often compound with time rather than clearing up. In today’s credit environment you must act defensively. Here are our favorite quick credit repair techniques. Your credit is waiting. Are you ready to take charge?

Reduce Revolving Balances

Do you have credit card balances? Most people do. And it is too easy to let the balances climb up to the limit. This is a credit repair disaster. The FICO scoring model puts great weight on the relationship between your balances and your card limits. The lower the balance, the higher your scores will be. And conversely, as your balances approach the limit your scores will plummet. Don’t ignore this credit repair tip; your balances can swing your scores by 150 points.

Build New Credit Now

Oh, you do not have any credit cards? You cannot expect to see your scores improve without open positive accounts. It is likely that you won’t be able to get regular unsecured cards. This is no problem. Just get a couple of secured credit cards. They are the perfect credit repair tool. I suggest you get two cards. You can open them for the minimum amount, the credit repair benefits will be the same as a high limit card. Once you have your cards you need to use them, but keep the balances low. It will take several months for these new cards to yield the score benefit, but before long you will see the credit repair magic happen.

Avoid Consumer Debt

Not all forms of credit offer the same credit repair benefit. The FICO scoring model discriminates between debt types. Consumer debt will not help your cause. Consumer debt includes store cards and loans for the purchase of furniture, electronics and other consumer goods. These offers can be convenient but will almost certainly lower your scores. For rebuilding your credit you need to stick with mainstream credit cards like MasterCard and Visa.

Clean Up Your Credit Report

Credit reporting errors are very common. And worse, errors are even more likely to occur on the reports of those who have had past credit issues. Legitimate problems tend to generate errors which will make your scores far worse than they should be. It is also important to know that many errors are compliance issues that are hard to find without knowledge of the reporting requirements imposed on the credit bureaus. Successful credit repair requires knowledge of the laws that govern the participants in the reporting process. A careful clean up of your credit reports can mean a major and quick improvement in your scores. If you are not comfortable doing this on your own, hire a credit repair service.

Credit Repair Services

There may be many opportunities to improve your credit scores. Credit repair techniques can address issues with the credit bureaus, creditors, and collectors. There are many things you can do yourself to improve your credit, but if you feel overwhelmed just hire a credit repair service. A credit repair service will insure that no opportunity is overlooked. And the cost should be very reasonable. Most credit repair companies offer a full range of services for about $ 50.00 per month. If you are busy, too busy to do it yourself, just hire a professional. It is your credit and it matters!

Jim Kemish is the president and founder of Sky Blue Credit Repair, a leading credit repair service. Sky Blue Credit has been dedicated to providing intelligent customized credit solutions since 1989.

Find More Credit Articles

Three Tips For Fast Credit Report Repair

A credit repair business can definitely help you out in fixing your bad credit record, especially when you are in the need of a quick financial loan either to be used to fund your business venture or for personal use like home improvements.A credit repair business may help you if you experience bad credit, a lot of debt, or too much credit card debt. The optimal direction to know exactly what your position is would be to check your credit reports.

To identify an illegal credit repair service, one must understand some of the agency’s danger signs. These include demanding payment in advance, advising the debtor to dispute the whole credit report, offering to get a new credit identity and failing to tell debtors their legal rights.

3 Tips for Fast Credit Report Repair repair services is because they want to have a viable solution to fix their credit. With credit repair, you will be able to get the assistance you need to get your credit to where it should be. Consumers must keep in mind that getting their credit in order will take time and that it’s not an overnight process. Since trying to do it yourself takes time away from other things, having a company that can work to help you get your credit in order is a good thing.

2.Credit repair services should not be confused with credit counseling services. In fact, credit counseling can actually hurt your credit scores. Credit repair exists to improve your credit scores. It’s very important not to get the two confused. Credit repair services must follow specific guidelines from the Credit Repair Organizations Act, which are intended to protect consumers. You should receive an explanation of these rights before signing a written contract. Read them. In fact, get familiar with them before making calls and/or visiting a credit repair company.

3.Credit repair services claim to repair bad credit marks on your credit history. What you need to find out before committing to a service is how the company goes about making such repairs. There is a big difference between the items on your credit reports that make up a poor credit score and then there are items on the report that are genuine mistakes. If the company tells you then can remove all bad marks – walk away now. No one can remove information that show poor credit activities. To do so would be illegal.

The alternative to this is to be your own credit repair business and determine if you can negotiate with the credit bureau and the individuals you owe by yourself. It’s very important for you to understand your role in the process. Once you obtain the credit report, you can then work with the client to correct any mistakes, acting as the intermediate between them and the credit bureau.

If you are looking to kick start a new credit repair business, or you are looking for a new credit repair lead source for your credit repair business, Visit

Learn How Bad Credit Credit Cards Can Help You Improve Your Credit

In this article, let’s discuss the possible reasons why people get stuck in bad credit. We’ll also take a look at how credit cards for bad credit can help improve your personal credit history.

Why People Damage Their Credit

Oftentimes, a person gets stuck in bad credit as a result of past due charges from different accounts. If you own more than one credit card, it’s crucial to keep up with your payments on all your accounts to avoid bad credit. Consecutive misses on your payments can quickly put you in a bad debt situation before you can take action.

Another common reason why people get stuck in bad credit is uncontrolled spending. Have you taken a closer look at your spending habits? Are you really aware of how you spend your monthly salary? Surprisingly, most consumers are not even aware that they’ve been spending more than what their income allows. They’re only alerted about the problem when creditors start calling their attention about past due bills in their account.

There are also circumstances that are beyond anyone’s control that can cause bad credit. Examples of these unfortunate situations are sudden loss of job, medical emergencies, divorce, a failed business, and others. These events can put anyone in bad credit and damage one’s credit history in an instant.

What You Can Do About the Problem

Yes, many credit card issuers require good credit rating but there are also credit cards that are created especially for people with bad credit history or with no credit history. Check the internet and search for potential bad credit credit cards or guaranteed approval credit cards that suit your needs.

Understandably, these types of credit cards may come with slightly higher interest rates than standard cards. However, if you make it a goal to pay off your charges completely before your due date ends, you can avoid paying the interest rate altogether. Yes, it is up to you to use your bad credit credit card to your advantage.

Paying on time and paying off charges in full not only saves you from additional interest rate costs or late penalty charges. More importantly, such a manner of repayment improves your credit history and raises your credit score. However, it does call for self-discipline and determination as a credit card holder to avoid payment misses.

Look for a bad credit credit card that reports your payments to the three major credit bureaus (Equifax, Experian, TransUnion). In as little as six months, you should be able to see improvement in your credit history provided that you will not miss or delay a single payment.

Liz Roberts is a loan consultant with NewHorizon Finance and has been providing consumers and business owners with financing since 1989. Bad Credit? Join our mailing list for a free credit repair and building ebook , without hiring a credit repair service or view our list of bad credit credit card.
Copyright 2008

Related Credit Articles

The Wonders of Credit Repair

Credit Repair Works

Credit repair works. And the results will have a dramatic impact on your financial life. Lenders everywhere have tightened their credit requirements. Every single point on your credit score matters. Credit blemishes can quickly translate into higher interest rates and even loan denials. You cannot afford to ignore the potential of credit repair. Do it yourself, or for a small investment you can hire a professional credit repair service to manage the process for you. Either way, now is the time to take action.

The Great Liberation

Free yourself from the illusion of authority. Many people make the mistake of giving too much credibility to the content of their credit reports. The power of the credit bureaus can be intimidating; we might believe our eyes against our better judgment. The credit bureaus play an important role in our world, but they are not without flaw. Over half of all credit reports include errors that are significant enough for the victims to pay premium interest rates, and, in many cases, to face loan denial. The credit bureaus maintain files on over 200 million Americans. That means that over 100 million Americans are victims of credit reporting errors.

The Credit Repair Plot Thickens

There is an unfortunate and unjust credit reporting anomaly that is virtually guaranteed to handicap those who can afford it the least. If you have had legitimate credit problems in the past you are more than twice as likely to be a victim of reporting errors as someone who has not had issues. There are two primary reasons for this; when you default on a debt the creditor is apt to move your account into another reporting category increasing the likelihood of duplicates and errors, and secondly, if an account is sent to a collector the lax reporting conformity of the collection industry can harm your credit needlessly for years to come.

And There is More

An informed examination of your credit report by a credit repair professional may turn up errors in many categories. Some of these errors are pure compliance violations that you are not likely to spot without training. If you are going to manage your own credit repair project make sure to do your homework before getting started. Educate yourself about reporting period limits for all categories of credit, make sure you understand the operation of statute of limitations, and peruse the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. The little details can make the difference between success and failure.

The Credit Repair Solution

Understanding your rights and the compliance requirements of the credit bureaus will give you the legal leverage you need for your credit repair effort to succeed. Your credit bureau disputes are the cornerstone of your credit repair project, but there is more. True credit repair success should be measured by the improvement in your FICO credit scores. You must carry out your credit bureau disputes with an understanding of the impact every change in your credit report will have on your FICO scores. When you put it all together you will be thrilled with the results.

Help is Near

You are not alone. Many people don’t have the time to manage their credit repair project as carefully as necessary. If you feel that you can’t give it the attention it deserves, hire a credit repair professional. A professional will insure that every issue is identified, and will address your problems in an informed and careful manner designed to produce the best results. In addition, truly effective credit repair services will assist you in rebuilding and reshaping your credit to meet future lenders guidelines so that you will be left with genuinely useable credit. Whichever route you take, I urge you to act now. It’s your credit, and it matters.

Copyright © 2009 James W. Kemish. All Content. All Rights Reserved.

Jim Kemish, a nationally recognized consumer advocate, is the president and founder of Sky Blue Credit Repair, a leading credit repair service since 1989. Jim is also a regular contributor to The Credit Repair Blog, a prominent consumer credit repair resource.