Do You Need Credit Repair?
- By Ryan J Bell
- Published 05/29/2009
- Finances
- Unrated
Ryan J Bell
Veracity Credit Consultants, a leading provider of credit repair has provided this article. Check them out online at http://www.VeracityCredit.com
View all articles by Ryan J Bell
Many people, websites, and books will tell you that credit repair can be a do-it-yourself process. They are all absolutely correct. It is your right under the FCRA to be able to correct any errors on your credit report. However, there are also thousands of stories of credit repair being frustrating and time-consuming for the average consumer. Knowing that credit repair can be a time-consuming process or cost money to work with a professional, it is worth finding out if you even need credit repair before doing anything.
The days of credit bureaus and credit reports being obscured to the average consumer are long gone and there is no excuse to live with inaccurate information on your credit report any longer. Governmental regulations have made your credit report more transparent, and have made the process of disputing and removing inaccurate information accessible. You know have a say in every piece of information that goes on your report.
But you aren't required to go it alone. These same governmental regulations that give you the right to dispute the inaccuracies on your reports also allow you seek assistance in disputing those items. Of course, you must be careful about who you hire to perform those services. As often happens when there is a service that is needed by many people companies spring up who are only out to take your money.
Honest improvement of your credit score involves disputing errors and inaccuracies on your report and figuring out what you could be doing better to increase your score (for instance: opening a credit card account, or distributing rotating balances amongst more cards). It all depends on your situation, but there are plenty of legal and ethical ways to improve your score.
It is important to choose a company that wants to help you make the right choices about credit repair. Companies that suggest getting a new identity or other outrageous strategies to dodge legitimate negative items are not doing you any favors. Credit fraud is a very serious offense.
So how do you know if you even need credit repair? The first step is to get your credit reports. Although there is a government-mandated "free credit report" website, you must keep in mind that this credit report will not give you your FICO score. There are many free credit report offers out there which give you a free, three-bureau report in exchange for trying out their credit monitoring services. If you are serious about repairing your credit then monitoring services such as these can be a valuable tool, helping you track your progress in near-real-time as you get negative items removed.
In looking over your report you find that there are accounts or information that you do not recognize you may be in need of credit repair. If you have trouble reading or interpreting your reports it may be a good idea to seek help. Most credit repair companies offer some kind of free consultation to help you understand your reports and how they can help you improve your score.
Take control and exercise your rights. There is no reason to live with poor credit any longer, it is more important than ever to make sure your credit is the best it can be. Remember: mortgages, credit cards, insurance and even jobs can depend on your credit score!
The days of credit bureaus and credit reports being obscured to the average consumer are long gone and there is no excuse to live with inaccurate information on your credit report any longer. Governmental regulations have made your credit report more transparent, and have made the process of disputing and removing inaccurate information accessible. You know have a say in every piece of information that goes on your report.
But you aren't required to go it alone. These same governmental regulations that give you the right to dispute the inaccuracies on your reports also allow you seek assistance in disputing those items. Of course, you must be careful about who you hire to perform those services. As often happens when there is a service that is needed by many people companies spring up who are only out to take your money.
Honest improvement of your credit score involves disputing errors and inaccuracies on your report and figuring out what you could be doing better to increase your score (for instance: opening a credit card account, or distributing rotating balances amongst more cards). It all depends on your situation, but there are plenty of legal and ethical ways to improve your score.
It is important to choose a company that wants to help you make the right choices about credit repair. Companies that suggest getting a new identity or other outrageous strategies to dodge legitimate negative items are not doing you any favors. Credit fraud is a very serious offense.
So how do you know if you even need credit repair? The first step is to get your credit reports. Although there is a government-mandated "free credit report" website, you must keep in mind that this credit report will not give you your FICO score. There are many free credit report offers out there which give you a free, three-bureau report in exchange for trying out their credit monitoring services. If you are serious about repairing your credit then monitoring services such as these can be a valuable tool, helping you track your progress in near-real-time as you get negative items removed.
In looking over your report you find that there are accounts or information that you do not recognize you may be in need of credit repair. If you have trouble reading or interpreting your reports it may be a good idea to seek help. Most credit repair companies offer some kind of free consultation to help you understand your reports and how they can help you improve your score.
Take control and exercise your rights. There is no reason to live with poor credit any longer, it is more important than ever to make sure your credit is the best it can be. Remember: mortgages, credit cards, insurance and even jobs can depend on your credit score!