CREDIT REPAIR FACTS: info from the Credit Secrets Bible
Friday, April 9th, 2010
http://www.CreditRepairPublishing.com
info from the Credit Secrets Bible
CREDIT REPAIR FACTS and FALLACIES: 6 Ways to Separate Fact From Fiction!
Credit bureaus like experian, equifax and trans union are not government agencies. They are privately held for profit companies….
So many consumers freak out about their credit report and the credit bureaus. It’s the like the credit boogeyman is chasing them in a bad credit dream (or credit nightmare).
So much information is conflicting it’s easy to get confused. Most banks and credit bureaus like trans union, equifax and experian would love you to believe that the only thing that can repair your credit report is time.
Laughs….
How about all the errors and inaccurate information? Can that only improve or heal over time as well?
let’s face it. You’re worth more to the credit bureaus and banks with bad credit then good. You’re worth more with a low credit score than a high credit score. So, is it any surprise the system is slanted and almost all the errors are in the favor of the banks and credit bureaus like experian, equifax and trans union?
Hmmmm….
Can 100% accurate information be removed from your credit reports? Actually, contrary to popular belief, it can. Nothing prohibits a credit furnisher of information (FOI) from removing accurate information from a credit report.
Even if it is negative or derogatory. Remember, credit bureaus are really in the business of selling information.
It just happens to be that negative information is more profitable than positive (wait a minute. That sounds like the news). Anyway…
Even if you’re a “good citizen” you have to understand that each bureau has it’s own sources and methods for calculating your credit score. It does not all come down to a company called Fair Isaac, FICO or www.myfico.com in Minneapolis Minnesota.
Different credit bureaus generate different consumer credit scores. Sorry. We don’t make the rules. We just help you learn how to play the game better.
And no matter what anyone says, credit repair is not INSTANT and guaranteed (even if Johnny Cochrane comes back from the dead and becomes your personal credit attorney).
The credit system is really unpredictable and part of the process is a random roll of the dice. In the end, it is persistence and experience that makes the difference.
A good credit restoration company will do a better job that you ever could on your own but it will not happen for $49 a month. To do it right it will cost much more.
Credit restoration can be done on your own and every situation is different. Whether you choose to do it on your own or hire a company that fact is that it is better to do something than nothing.
Unfortunately, most people are doing nothing (at least right now anyway). Don’t make this mistake. The time to invest in your credit is NOT when you need it, but 1 to 2 years BEFORE you need it.
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Don’t consolidate your debt, don’t refinance your debt, don’t restructure your debt don’t even worry about your debt DESTROY YOUR DEBT before it destroys you. Many people are eliminating every negative and derogatory entry on all three credit reports completely, legally and permanently. What does this do for you? It changes the grades on your financial report card, possibly raising your FICO score, and restores your credit worthiness. Find out how others are totally destroying their debt.
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Jean Chatzky is correct, you cannot get your FICO score–the score that is used by lenders–for free.
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