Credit Repair

• Who is Doing Your Credit Repair?

  Credit reports have become big news lately with a proliferation of advertisements on television, radio and the internet for credit repair companies, free credit reports, and credit monitoring services. What often happens when something becomes trendy among the general public, many companies and individuals try to benefit from the opportunity by offering services and products to complement the trend. Some of these companies, unfortunately, do so by preying on consumers who need help and offer poor or outright deceitful services designed solely to turn a profit.

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• Is Credit Repair Legal?

  A lot of people wonder if credit repair is truly legal.  The truth is it’s not only perfectly legal it is imperative for the majority of us.  Research has shown that up to 70% of all credit reports in the United States have errors on them.  These mistakes need to be repaired or your credit scores will not reflect your true risk factors. Yes, there are some firms out there touting repair services that are illegal, and some that are simply unethical.

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• Credit Repair Also Requires Ditching Debt

  Want to improve your credit score?  Sure, you can use legal credit repair techniques to bump your score.  But real and lasting credit repair requires that you also ditch your debt.

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• Want to Improve Your Credit Score? Pay Bills On Time

  Paying your bills on time seems like common sense, however it is the most common reason that people have poor credit scores. If you are going through lean financial times this is certainly easier said than done. Unfortunately when hard times fall upon us we rarely have any advance notice. Things like loss of employment, a death in the family, the family car breaking down, or even unforeseen medical problems can all put a pinch on your family budget.  If you have not saved any money for a rainy day fund these kinds of problems may lead to you missing a scheduled payment with one of your creditors. This is one of the quickest ways to seriously damage your credit scores.

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• Credit and Savings Tip: Pay Off Your Credit Card

  Did you know that carrying a credit card balance is costing you money each month?  It’s probably hurting you credit score as well.

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