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There are many methods to credit repair and if you have poor credit scores then you should
consider restoring your credit. You will enjoy an increase in your financial freedom when you take
steps toward bad credit repair.
Bad credit can be detrimental to your financial well being. You might have constant phone calls to
your home from bill collectors and the battle may seem impossible. You might make less money
than you can financially afford to pay toward your monthly bills. This is called being "upside down
in your bills". It is possible to get on the path toward credit repair even though it might seem
impossible.
You might have bad credit for many reasons. You could have medical bills, credit card bills, and
many more bills that are overwhelmingly high. No matter what the reason is, when your credit
scores are low it is viewed a number of ways. First, your debt to income is reviewed. Creditors
look at the amount of money you OWE on your credit versus the amount of money that you
MAKE. Also, if you have many debts that are small amounts unpaid, this looks very bad too.
However, the biggest way a company looks at your credit score is that it shows you don't pay your
bills. This means you cannot be trusted with paying back a credit or a loan. The better your credit
score is then the more a business will trust you with paying back the loan.
When you have bad credit it is next to near impossible to get a loan for anything. You won't be
able to get credit cards, buy a home, a car, or get credit for anything you might need. In most
cases, if someone does extend you a line of credit then your interest rate is very high. When you
are given a high interest rate then you are almost paying double for the initial line of credit.
When you make the decision to repair your credit with a 'repair my credit toolkit' then you are
taking the first step to a better financial situation. Remember, bad credit means higher interest
rates. It also means when you have a financial emergency, you can qualify for a line of credit to
help you make it through your problems. You have the financial freedom to buy things like boats,
cars, and more. You also have a better interest rate on your line of credit.
Through our credit repair tutorials you will find that the first thing you need to do to take a step
toward free credit repair is to get a copy of each of your credit reports. There are three primary
credit reporting agencies. These companies are Equifax, TransUnion, and Experian. You are
entitled to one free report from each of these agencies a year. You should compare the three
reports and write down all of your debts that appear to be damaging to your credit.
When you begin your credit score repair the quickest way to get started is to highlight all of the
small amounts that you can afford to pay. If you have any amounts that are less than $100 on
your report then you should pay them immediately. These look the worst on your credit. If you

2. think you can repair your credit on your own then you can. You should start with the smaller
amounts first. You should call one creditor at a time. Call each of the creditors and ask them for
the payoff amount. Most creditors who show negative on your credit will be happy to get anything.
Most of your creditors will accept a deal to pay 60% of the debt owed rather than the full amount.
If they accept a deal with you then you should have this agreement faxed to you. You should also
demand a receipt for payment and attach to the agreement.
Once you pay on a debt on your credit report it may take up to 60 days to reflect on your credit
report as being paid. Keep in mind that although you pay a debt off on your report, it will remain
on your report.
If you need credit repair help because your debt and bills seem too overwhelming for you to
handle then you can find many places that offer free credit repair. You should be cautious about
people you use to help you repair your credit because there are a lot of fraudsters out there who
will make promises they cannot keep.
The most important thing is that companies who offer to repair bad credit for free should never
charge you for anything up front. They might offer services that do have fees in addition to
repairing your credit. These fees might include the cost of copies being made and other things.
However, you should not agree to any fees if a company tries to charge you for repairing your
credit.
Another thing people forget is that when they go in to 'restore my credit' businesses they might
hear that debts can be erased from a credit report. Many people who are dishonestly trying to
provide services to people with bad credit will make promises like this. No one can erase negative
information. The only type of information that can be removed from a credit report is information
that is incorrect. If there is a debt on your credit report that is not valid and that you do not owe
then this is the only thing that can be erased. Information that is accurate will remain on your
credit report for 7 years from the date the debt is recorded. A bankruptcy will also remain on your
credit report for ten years. If you had bills like credit cards and you fell behind on them for a month
or two and then caught back up on them, this too will reflect on your credit report. Falling behind
on your bills can remain on your credit report for up to seven years, even if you have been caught
up for a year.
A credit repair company helps many people with bad credit report repair issues. Most of the
companies will sit down with you and total all of your debts. They will offer you consolidation
services to help you pay back your debts. Consolidation of your debts is often the best solution if
you are paying a bill here and a bill there. It is easy to lose track of which bill to pay this month or
next month and a credit repair company can help you get back on track financially.
A credit repair company will use credit repair software to help you organize your debts. You will
work with a consultant who will go over all of your bills and your current income. It is important to
remember that your most important bills are the bills of necessity for living. These are your rent,
electricity, water, trash, and food. Any other bills you are used to paying will be set aside with your
debt and not listed as living expenses.
The company will also help you look at your spending habits. You might be used to shopping
online or eating out at a restaurant every day during the work week. Your spending habits will be
assessed and stopped. You can save a lot of money by taking lunch to work with you or by going

3. home for lunch instead of eating out.
Once the company has assessed your bills, your income, and your spending habits they will figure
out how much additional income you can afford for a monthly payment toward your debt each
month. The great thing about this is that when a company consolidates your debt for you, then
you make only one monthly payment toward your debt. The company will disburse your monthly
payment among your creditors accordingly.
If there are things on your credit report that are not accurate the company will help you prepare a
credit repair letter to the reporting agencies to dispute things on your credit. They will help you
every step of the way work toward getting your credit back on track.
When you make a decision for bad credit report repair and to go with a company then you will
receive a detailed written contract. By law, if you go through a company that is for profit, nonprofit,
banks, credit unions, and creditors, you are allowed three days to back out of the written
agreement. They must give you a full explanation of all of your legal rights. In addition, they
cannot demand any form of payment until all promises have been kept by the company. If the
company is demanding money up front then you should go with a company who is not in it for the
money. Remember, there are many nonprofit governmental agencies designed to help people get
their credit back on track.
There are many things you should be aware of when you are thinking about credit repair. If you
receive an email about credit repair then you should be leery. Be sure to research the company
and confirm they can really help you. Most emails sent out about credit repair are commonly
fraudulent and dishonest. Just remember never to pay any money up front for your credit help.
Another thing you should keep in mind is that some fraudulent companies tell consumers that they
can help them create a second credit file. They might offer a new social security or tax
identification number. Not only does this promise not work but it is considered illegal. The term
for a promise like this is called 'file segregation'. No one can give you a new social security
number but the Social Security Administration office. There are very rare instances of new
numbers being given out in situations of witness protection programs with the government, and
serious cases of an identity being stolen. Remember that what you feel to be serious and what
they consider serious are very different. There are also thousands of identity thefts that occur on a
daily basis. This also has caused the Social Security Administration to consider these issues even
less today. If a credit repair company makes a promise to you that sounds too good to be true
then it probably is.
Many people say "I want to restore my own credit." You can. The first thing you should do if you
have credit problems is get counseling. You can call your local Consumer Credit Counseling
Service (CCCS). They can give you advice on how you can build your credit record back to
something acceptable. They can also help you find an agency that can help you if they cannot
and you can trust the information you receive from them. The CCCS can help you make payment
plans with bills you have fallen behind on. The services offered through the CCCS are usually free
but if they do charge you then they are at a very low cost. If you need to find the nearest CCCS
office so you can get started on your credit repair, then you can call toll-free 1-800-388-2227.
When you make a decision to repair your bad credit you are taking the first step toward your
financial freedom. You can repair your credit on your own or you can seek credit counseling from

4. a credit repair firm. This is usually the best option for people who are upside down in their bills
and the phone will not stop ringing from creditors. A company can help you prioritize your monthly
bills. They can also give you the benefit of one easy monthly payment that will be applied to all of
your debts. You won't have to worry about your creditors anymore because they will take care of
everything for you.
When you repair your bad credit then you can have the financial freedom to have credit extended
to you for those things you really want or that house you have been working so hard to qualify for.
Don't let your bad credit be a detriment to your financial freedom with poor interest rates and
denials anymore. You can get back on track with a positive credit score.
This article is brought to you courtesy of Jordan FeRoss who is a leading expert in Credit Repair
Article Source:
http://EzineArticles.com/?expert=Jordan_Feross
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