Wednesday, February 11, 2015

Questions in Today's Real Estate Market #3 - How the Government Wants to Help You Buy
Questions in Today's Real Estate Market #3 - How the Government Wants to Help You Buy
Undertaking Credit Repair On Your Own (What To Do And What Not To Do).

If you have recently been declined for a loan, or for a new credit card, you might need credit repair. Being denied credit is often the result of a bad credit report, which can occur in two circumstances. You have either managed your credit poorly, which has reflected in your credit report; or your credit file has some erroneous items, therefore adversely affecting your report. In either circumstance, it is vital that you undertake credit repair as soon as possible.


Here is a strategy to help with your credit repair. You can do this on your own and can therefore repair your credit for free.

Request a copy of your credit report from any one of the 3 credit bureaus. If this is your first request of the year, you will be provided the report for free.

Once you have your report, examine it closely. You have to study all the entries and mark all those which are incorrect and which are damaging your credit worthiness.

After you have identified the wrong entries, you have to get in touch with the credit reporting companies and tell them to delete the erroneous entries from your report.

Even if there are some correct entries in your credit report, but these are negative in nature, you could still get them eliminated. This would go a long way in guaranteeing credit repair. There is a specific time limit for which negative entries can stay on your report (usually between 7 and 10 years). If such time limit has passed, you should write to the credit bureaus to delete the negative items from your report.

Guarantee that all your correspondence with the credit companies and companies is through registered mail. By doing this, you have proof of your requests and also when exactly you initiated the process of your credit repair. Keeping a record will also help you in case any deleted entry is re-included in your report anytime in the future.

Within 1 Month, some action should have been taken concerning the wrong items on your report. If the credit bureaus identify that the entries were in truth wrong, they will remove it from your report, therefore producing the credit repair that you wanted.

In case the matter is not resolved to your satisfaction, you should continue challenging the items on your report till such time that credit repair has certainly happened. Please be sure to visit on this page collections credit or take a detour and check out this website bill collector laws


People whose credit history is low or who have a bad credit report often try desperate ways to repair credit and therefore end up harming their credit even more. The majority of the info offered on credit history repair and credit report repair tells you what to do to bring back great credit. However, we will tell you about some of the important things that you should NOT do in order to repair bad credit.

1. File Segregation: Numerous credit repair companies lure people with the false guarantees of bad credit repair by telling them that they can produce a new credit declare them by providing them a new identity. This is referred to as file segregation. However, you need to understand that such a process is not legal and can even put you behind bars if you try to segregate your credit file to repair bad credit. Therefore, no matter what any credit repair company tells you - things like you will not be able to get any loans and even a credit card for the next few years, or that you will not be able to get a job etc; under no circumstances should you consent to the process of file segregation to repair bad credit.

2. Deleting accurate info from credit report: Some credit repair companies make claims to people that they can repair credit by getting accurate info of a negative nature deleted from their credit reports, therefore improving their credit rating. However, this just can not be done. Only incorrect info can be eliminated from a credit report and not accurate data, unless such data is older than 7 to 10 years. Therefore, you should not trust anybody who tells you that they can repair bad credit by eliminating negative items from your credit report.

3. Advance Payments: No credit repair company is lawfully enabled to request advance payments. They can only charge for services that have already been provided and not in advance. Therefore, you should NOT be taken in by any company who wants high advance payments.

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