How To Get Free Credit Repair Reports

March 5, 2009 by  
Filed under Credit Repair

You are entitled to one free credit report each year from the three main reporting agencies in accordance with the Free Credit Reporting Act. This can help you when it comes to credit repair and can also help you with bad credit repair. There are some companies that will try to charge you money to obtain these reports.

The Free Credit Reporting act not only allows for one free credit report each year, but also makes credit repair easier. You can repair credit on your credit reports when you find things on these reports that are in error. Prior to this act, these reporting agencies would often ignore requests for errors on credit reports and lenders did not take them very seriously. It was very difficult to repair bad credit prior to this act.

After you have received your free annual credit reports, you can dispute anything that is reported in error. If you see that there are errors on the credit reports, write to them and tell them that you dispute the item. They will then have 30 days to either get proof from the company that reported the item or will have to remove it. This can help you with credit repair. Many companies that offer credit repair services simply do this for their clients.

In addition to receiving one free credit report each year, you are also entitled to a free report if you are turned down for credit by the agency that reported to the creditor who turned you down, in accordance with the Fair Credit Reporting Act. They will have to notify you in writing of their decision and let you know which agency reported the bad credit. You can contact the agency and get a free credit report and then commence to repair credit score problems.

If you want to make sure that you keep up with credit maintenance or want to repair credit, you can do so by taking advantage of the Fair Credit Reporting Act and getting one free credit report each year from the three main reporting agencies. Many times, people are surprised to discover that there are errors on their credit reports that are holding them back from getting loans and dragging down their credit scores. You can then do your own free credit repair right away if you have this information.

You should not fall for scams where companies offer you a chance to get your credit report for a price. Many companies will do this with the promise of also offering credit repair services. In many cases, these are nothing more than a simple thing that you can do yourself. You are entitled to get one free credit report each year from TransUnion, Experian and Equifax and dispute any charges on the credit reports that you feel are on reported on these reports in error in accordance with the Fair Credit Reporting Act.

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Free Credit Repair Tips

March 4, 2009 by  
Filed under Credit Repair

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There can be many reasons why you are in need of credit repair. Many people run into emergency situations and find that they are late in paying bills that can hurt their credit report score. If your credit has suffered, you do not have to feel helpless. You can use these free credit repair tips for even bad credit repair.

One of the first credit repair tips that you need to learn is to avoid those companies that offer you free credit repair or to wipe your slate clean. They are usually scams. You will want to repair credit the legal way. For legal credit repair, you need to get a credit report from the three major credit bureaus. You are entitled to one free credit report each year. You are also entitled to a free credit report from a reporting bureau that is used to make a determination that denies you a loan.

Look over the credit reports carefully and look for items that may be on the credit report in error. If you find any, write to the credit bureaus, dispute the claim and demand proof. If it is on your credit report in error, it will be removed. This is one of the best ways that you can engage in free credit repair. Items on your credit report that do not belong to you can reflect negatively on your credit score.

If you have an item that is listed on your credit report from a current lender for which you were late, you can call them and try to negotiate a deal with them to pay off any amount due if they will remove the item. It is up to the finance company to then remove the item. This is one way that you can get credit repair on your own.

Do not close old credit card accounts that have been paid off. This can reflect negatively on your credit score. Paying off credit cards that are lingering is one way to repair credit.

Another way to repair credit score standings is to take out a credit card and then pay it off each month. Just use the credit card to buy things that you would ordinarily buy and pay it off. This will automatically start to raise your credit score.

If you are behind in a bill, the worst thing that you can do is to ignore a creditor. By talking to a creditor and working out a solution, you will not only help your situation, but you will also repair credit problems by heading them off before they occur.

The best way that you can make sure that you have good credit is to use it wisely and get copies of your credit reports each year so that you know what is on them. If you find that there is something in error on your credit report, you must act right away for credit repair. You should also work with creditors to negotiate payments in exchange for removal of some items from your credit report.

Credit Repair To Get A Mortgage

March 3, 2009 by  
Filed under Credit Repair

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If you are considering getting a mortgage, you will want to do some credit repair before even applying. Your credit report score will determine not only whether or not you get a mortgage, but also the mortgage rate that you will get as well. If you are thinking of getting a loan to purchase a home, you need to work on credit repair.

The first thing that you need to do to repair credit is to get a copy of your credit report from the three main reporting credit bureaus. You are entitled to receive one free copy of each of these reports a year. You should study these reports for any negative data and see if you can get it removed to repair credit score ratings. This is also a good time to look for items on your credit report that are on there in error.

If you find any items on your credit report that are incorrect, you need to have them removed. Write to the credit bureau and tell them that you dispute these items. This is how you go about credit repair. If you want to learn more, you can look at a credit repair guide that can help you with this process.

If you have some bad loans on your credit report, or some charge offs, you can try to negotiate with creditors to pay off the debt in exchange for removing them from your credit report. This is often how bad credit repair works. The reporting company or debt collection agency can remove an item from your credit report.

You can also ask for proof of the debt from the credit bureau. If the reporting agency does not provide proof of the debt in 30 days, it must be removed from your credit report. This is how some credit repair services work.

Do not apply for credit cards when you are thinking about getting a loan as this can lower your credit score. Each time you apply for credit, it affects your credit score, even if you have good credit.

Do not cancel any credit cards that you have paid off as they reflect positively on your credit report. Be sure to pay all bills promptly, including utility bills, so that you can maintain good credit. By the time you are ready to apply for your mortgage, you should have a higher credit score if you follow these credit repair tips.

Before applying for a mortgage, it is important that you check out your credit by looking at your credit reports and then embarking on credit repair. Even if your credit is bad, you can get bad credit repair by following these tips and working on improving your credit. The better your credit is, the better rate that you will get when you apply for a mortgage and the more likely your approval will be. You will also find, that after embarking on credit repair, that you will pay less when it comes to mortgage fees.

3 Bad Credit Repair Scams To Avoid!

March 2, 2009 by  
Filed under Credit Repair

If you have bad credit, you are already a target for companies that will promise credit repair but not deliver. There are several bad credit repair scams that are on the market today. Most of them offer the same thing – perfect credit repair including your credit score for a fee. Three of the most common scams today are perpetuated by companies that appear to operate as legitimate credit repair companies.

The ‘We Know People’ Scam

The most common of the credit repair scams are those that tell clients that they know people in the industry and can get your credit score wiped clean, even if you have foreclosures and bankruptcies on your credit report. They will charge a fee up front for this service and may even send you some information that indicates that they have repaired your credit. This type of credit repair service is most likely fraudulent and, when you actually get a copy of your credit report, you will see that they did not come through with the credit repair services as promised. Do not fall for this scam.

The ‘Fake Credit Report’ Scam

In one type of phony credit repair scam, clients with good credit are being send reports that they have items on their credit report that are damaging their credit score. They are asked for a fee to remove the item. The fake credit repair services company will send a false report to the customer and urge them to pay a small amount of money to eliminate this debt. Many people will pay, rather than go through the trouble of trying to write to the credit bureaus. The customer will feel satisfied that they have relieved themselves from this burden and never know it was false.

The ‘Wiped Clean Credit Report’ Scam

One of the most popular methods that scam artists perpetrate on those who want credit repair is to say that they can wipe clean the entire credit report for the client. This is another scam as the only way that anything can be removed from your credit report is if it is made in error. Most of the companies that will perpetrate credit report scams will take your money and you will never hear from them again.

You can get free credit repair if you understand how to work with the credit bureaus and remove anything on your credit report that is on there in error and cannot be proven. You should take a look at credit repair software that can help you do this as well as learn as much as you can about legal credit repair by reading a credit repair guide. Do not fall prey to the scam artist that will look at your bad credit as a way to make money from your problems. Look for a way to repair credit that is not only legal, but will actually work to remove erroneous items from your credit report and repair credit score amounts as well as your credit report itself.

Check Out 3 Agencies For Credit Repair

March 1, 2009 by  
Filed under Credit Repair

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If you are interested in credit repair, or just looking to maintain good credit, it is important that you take a look at all three of the main credit reporting bureaus. These are TransUnion, Experian and Equifax. If you take a look at the credit score from each of these credit bureaus, you will notice that they all report a different score.

You are entitled to receive one free credit report from each of the three reporting agencies each year. The three reporting agencies make up a FICO scoring model, which is your credit score. This is the number the creditors will use to determine if you are a good risk when it comes to offering a loan. A good credit score is over 700. If you have a low credit score, you should take a look at the different reporting agencies and see if there are discrepancies. Chances are that there are.

When you get your credit score from each of the three reporting agencies, you will note that some have higher scores. This is because they use a different method of scoring than each other. Equifax is one company that uses the traditional method of scoring for the FICO, but TransUnion and Experian use their own. It is important that you get reports from all three agencies so you can take a look at them.

Another reason for the discrepancy may be that one of the credit reporting agencies is reporting something on your credit report that is in error. This is why it is so important to get all three reports from the agencies so that you can see if one of them has a mistake. You should dispute any errors with the company right away. Write to them and tell them that you dispute a finding and ask them to remove it. They will have to provide you proof that this is legitimate or remove the item. This is how you can complete your own credit repair.

Some credit card companies only report to one agency. This can be another reason for a discrepancy in the three major credit bureaus. Most lenders, however, will take a look at all three reports before they give you a loan, especially when it comes to a home loan.

In some cases, the discrepancy is due to information being processed quicker at one agency over another.

When you are attempting credit repair, you will want to deal with all three credit reporting agencies. If you use a credit repair service, you will want to make sure that they, too, deal with all three reporting agencies. If you want to repair credit score, you also want to be sure that the agencies are reporting accurate information. If you find that there are small discrepancies of your credit scores with the three agencies, this is mostly due to how they figure the scores. If the scores are large, however, some credit repair may be in order. If you use a credit repair service, be sure they work with all three agencies.

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