Have you seen those commercials on TV late at night? You know the ads that say you can get rid of bad credit in one night. What about those ads that say you can get a major credit card without a down payment or even a credit check?
There are ads online and off that try to sell you books and systems that will help you fix your bad credit. It's not unusual for a lot of them to say crazy things.
The question that comes to mind is, "Does this sound too good to be true?"
These credit repair companies want you to think that the only thing you need to fix bad credit is time. In fact, things are very different. The truth is that time is not the only thing that matters.
The Fair Credit Reporting Act is a law meant to protect the rights of consumers (FCRA). The only bad things that can stay on your credit report are things that aren't true. This means that if a negative thing on your credit report is true and can be proven to be true, it can stay there. This item has both good and bad news for us.
The good news is that. With the help of the FCRA, you can make a big difference in your credit score. This is something that can be done quickly. You only have to put in a little bit of work.
The bad news is this. Even though the work may only take a short amount of time, you need to know how to do it right. This is the most important part: Most of the courses you can take to fix your credit will not help you at all (9 out of 10). This is because these companies will give you pre-written letters that you can use to file a dispute.
These standard letters about a dispute are just form letters. The truth is that credit bureaus and lenders usually don't take these too seriously.
It is true that you can do everything a credit repair clinic can do for you on your own for little or no cost. But, and this is the key point, if you want to be successful, you must learn the latest insider techniques and procedures to get the results you want, which are better credit scores.
This includes, but is not limited to, proof of contract, constructive notice, challenge of procedure, and restrictive endorsement.
This may look hard, but it's actually very easy. These are just ways to talk to each other. In turn, this is how you use your rights as a customer. If you know what to do, you'll be able to get what you want and your credit score will go up.
You might also learn how to do this for other people to make money. It's an important service that a lot of people want.
In both cases, the first thing you should do is ask for a free copy of your credit report. It can be found at www.AnnualCreditReport.com.
