Credit Repair – Fact or even Fiction?
In this arena of television and internet it is very difficult sometimes to decipher fact from fiction. Also, as a result of the speed at which info travels word gets around at an astounding rate (whether bad or good). One of the subjects that have gotten bad press lately continues to be the credit repair industry.
You’ve noticed things like, “Start a brand new credit file today!”, or perhaps “Improve the FICO of yours by 300 points!”. However, you’ve also heard many bad things. Some of them related to those 2 sayings above. First, I’d like to separate fact from fiction.
You can repair your own credit. You are able to also hire someone to help you repair your credit. But let me describe the difference between the two. First, hiring a specialist could cost you hundreds or even thousands with “no guarantee” that anything will likely be repaired. Also, there are actually many so-called specialist giving out illegal repair info!
fast credit repair is that often you will be asked to dispute almost everything on your credit file as erroneous. Today, eighty % of information reported to the 3 major credit bureaus (Trans Union, Experian, & Equifax) is erroneous information. Nevertheless, based on the FTC this is fraud, which is against the law.
The simple fact is you do not have to have a credit repair company or any professional within an industry (legal or perhaps otherwise) that will help you fix your own credit. You’ve within the hand of yours the ability to self repair the credit of yours. With only a compact time investment you are able to repair your own personal credit.
The myth is not difficult, you can’t repair your very own credit. This has been a myth perpetuated by shady men and women who have marred the credit repair business. Are a number of credit repair specialist like this? But no, they are not. Some are very professional, honest and courteous. They do not request money before the repair has taken place and will assist you with your credit repair needs.
Nevertheless, you can repair your own credit. There have been recorded instances of credit repair companies informing their clients to not go straight away to the credit bureaus (when it’s your right to perform this). It is also your right (according to the FTC) to get a free yearly credit report (of all three major bureaus).
As you are able to see, there are exceptional resources offered (directly from the Federal Trade Commission) to aid you in the credit repair needs of yours.
To summarize, you have the right to repair your own credit. Repair is not fiction or myth, but truth which can change your life for the better.