There is no such thing as a quick fix in consumer credit; it takes time and knowledge of how the consumer credit world works to become creditworthy. You can do your own credit repair with a little effort and planning.

A credit repair agency cannot improve your credit score if it is based on your accurate credit information. Your credit report should include items permitted under the law, if the information reported is correct then there is nothing a credit repair agency can do to improve your credit report. Credit repair agencies cannot remove unfavorable but accurate information from your report.

Credit repair agencies do not have any special powers to do anything you cannot do yourself for FREE.

Watch out for companies that say they’ll “fix” bad credit for a fee — often substantial, usually payable in advance. So-called credit repair clinics say they will arrange to have negative credit information removed from your record — including information about bankruptcies and default judgments.

If you do decide to hire a credit repair agency, they must give you a written agreement that itemizes the services and goods they will supply, when they are going to start and when they are going to complete their services and the total amount you will be charged. A credit repair agency may not demand advance payment, or any payment at all unless its services result in a material improvement to your credit report.

According to the Federal Trade Commission

The Credit Repair Organization Act (CROA) makes it illegal for credit repair companies to lie about what they can do for you, and to charge you before they’ve performed their services. The CROA is enforced by the Federal Trade Commission and requires credit repair companies to explain:

• your legal rights in a written contract that also details the services they’ll perform
• your three day right to cancel without any charge
• how long it will take to get results
• the total cost you will pay
• any guarantees

What if a credit repair company you hired doesn’t live up to its promises? You have some options. You can:

• sue them in federal court for your actual losses or for what you paid them, whichever is more
• seek punitive damages — money to punish the company for violating the law
• join other people in a class action lawsuit against the company, and if you win, the company has to pay your attorney’s fees

Also see:

REPAIRING YOUR CREDIT REPORT WITH EASY STEPS

SECRETS TO BUILDING GREAT CREDIT

COMPLETE CREDIT GUIDE – INSIDER INFORMATION

Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

www.cristinascreditsense.com

E-mail me:  cristina@cristinascreditsense.com

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best or try to deal with the issue when buying a big ticket item.

Is Your Credit in Order?

Creditors use your credit report and credit score to determine to grant you a mortgage and what interest rate to charge you. It is critical that you get a copy of your credit reports and credit scores a few months before making such a major purchase.

Your credit rating may be the single most important piece of financial information you have to obtain a mortgage at the best interest rate. Credit Scores have names, such as: FICO and BEACON, depending on the credit reporting agency.

Order your Free Credit Reports from: annualcreditreport.com , you have to pay to obtain your credit scores. Arm yourself with the same information that lenders, bank managers, mortgage specialties and mortgage brokers will use to determine if you qualify to be approved and at what interest rate.

Check your report thoroughly to make sure there is no negative or incorrect information that could hurt your chances of getting a favorable mortgage.

Spend the time to get things in order:

1. Catch up on any overdue payments
2. Unpaid collections reporting on the credit report
3. Outstanding balances still showing on the credit report, although you have paid in full
4. Total debt showing o on the credit report, such as: credit cards, car loans, personal loans
5. Unsettled judgements

The purchase you transact today on credit will grow in debt tomorrow and the next day! Credit is Debt; however, R1 credit will also empower you to access the better things in life.

Learn to use credit wisely! Interest is relentless, it will change and grow. Credit also gives access to many things that add fun and enjoyment to our lives. The trick is learning how credit works, the rules credit grantors operate by.

Credit comes in many forms –credit cards and personal loans, overdraft protection, installment plans and many more!

How do you position yourself to get approved for the best terms of service and interest rates?

When you are ready to go for credit, be a smart shopper. Lenders or Creditors are here to lend or extend credit, as long as YOU are a Safe Risk.   Are YOU a good bet? Are YOU going to pay them with Interest and on Time?

Your Credit Report is the most important document in the overall process of getting approved for credit at the best interest rates. Your Credit Rating which is reported on your Credit Report is usually the first document the credit granter will check. Once, you have R1 Credit Rating, banks, loan outlets and credit card companies will welcome you with open arms. Now, you can be a smart shopper, because, you have the credit report they want to see!

You have mastered the ability to qualify for credit at the terms YOU Want. WIN AT THE CREDIT GAME.

Learn the secrets to help lenders grant you all the credit you ever ask for on your terms!

See the following articles:

COMPLETE CREDIT GUIDE – INSIDER INFORMATION

SECRETS TO BUILDING GREAT CREDIT