Credit Repair Report Have you heard about services or programs that promise you a new, separate and un-linkable credit file? Have you wondered if there really is a legal way toget a new, clean credit report in addition to the one you already have? The answer is simple. No. Although many offer such programs and services, it is not possible to get a completely new credit file overnight without doing it fraudulently. The next question then, is what can I do about cleaning up the one I have? That process begins with you getting a copy of your credit file. This is a simple process that can be accomplished easily. It's been estimated that as many as 70% of credit files have errors contained in them. If yours contains factual errors you will need to submit a request for research and/or investigation from the credit bureaus. You can also attach a letter or additional information to your research request as well as any evidence that helps prove the error in your report, such as copies of receipts, canceled checks, correspondence between the creditor and yourself. Our Credit Rebuilding Report can aid you in this process. Why trust something as important as your credit to someone else? This information package is a proven and legal way for you to do the footwork required to repair your credit! After you follow up on any errors, you are left with the task of re-establishing a track record of good credit. In the past, this required methods such as secured loans that you pay off on time, or secured credit cards. Today, people rebuilding their credit are more
fortunate. A simple way to get back on track with credit is to apply for the secured VISA
or Mastercard One advantage of a credit card when rebuilding credit is the regular reporting they do to the credit bureaus. It is best to use it monthly for small purchases and then make your monthly payments on time and in full. Even though you could get other cards (secured MasterCard for example) don't yield to the temptation of too many of these cards. Too many credit cards on your file can scare off some loan officers. It may look irresponsible to them. Another way to build credit is to buy a car. You'd be amazed by how many new car dealers are financing vehicles to folks with far less than perfect credit. As usual, the trade off is higher interest rates and often large down payments. I have to admit that I'm not really big on this one. The cost incurred from owning a brand new vehicle is high enough without throwing in an even higher interest rate. And unlike investing in a home or even rental property, cars lose value every time the sun goes up and down. Nevertheless, for those of you who feel you simply must own a new car, there are usually several new car dealers in every major city who are only too happy to accommodate. First you have to do that phone thing and literally call every single dealer in and out of your area. To save everyone a lot of time and trouble, be very honest and blunt about your credit report. Don't waste time on an overly anxious salesman. Ask to speak directly to the credit department. Every major dealership has one. If they say they can finance you, your in like flint. Anyway think this one over carefully. This technique has a potential for problems. Never finance from a used car dealer. It's hard enough to come out without too much collateral damage from a new car dealer, it's impossible to come out on top from a used car dealer. Besides it won't go on your credit file. Great Tip: Used car dealers get most of their cars from new car dealers. They usually have high mileage and the down payment the used car dealer is asking is what he paid the new car dealer for the vehicle. So if you need a high-mileage used car, bypass the middle man (used car dealer) go directly to the back lot of a new car dealer. The back lot is where they hide them, excuse me, I mean save them for the used car dealers and make your offer. 9 times out of 10 you can get the vehicle for what the used car dealer was asking for a down payment. But be aware that these cars are always sold as is and many need some repairs. But so do the ones from most used car dealers. After you have implemented any or all of these techniques, check your credit file every 6 months. If your new good credit information is not on there, first contact the creditor and ask them to report it. If they can't or won't, have them give you updated documentation of your credit status and send it yourself asking the credit bureau to add it to your credit file. In conclusion, a good credit report is worth
all of the work aggravation and diligence that is required to get it and maintain it. It
can help open doors of employment, aid in acquiring insurance, come through in times of
economic hardship and generally make life a lot more pleasant. Used with intelligence and
responsibility it can even reflect on the image of a person that personifies
respectability, a deserved respectability. Don't sell it or yourself short by being
tempted by any of the quick fix's. They will only disappoint. |
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