Bad Credit Lenders Won't Care Who Repairs Your Credit
Posted at by ifydcat on category CreditYour credit history plays a very important role in your ability to be approved for any financial loan. It is the most important element of your loan application for lenders when they are evaluating your creditworthiness, and bad credit lenders can base the rates they offer you on the quality of your credit report. Access to your credit report can also be granted to a potential employers, they can use this info to determine if they want to hire you or promote you. Because your credit report affects the quality of your life so profoundly, it is vital that you ensure that everything on your credit history represents you and your financial decisions as favorably as possible.
Saving Money By Doing Bad Credit Repair Yourself
Fortunately for consumers, Congress has established several laws protecting the rights of consumers to dispute mistaken items on their credit history free of charge. The process to dispute parts of your credit report is simple enough, but many consumers do not file their own claim disputes because they are unsure of the steps to take or they believe it will be too time-consuming to figure out on their own. In actuality, the process is fairly painless, though boring. The main thing that you need to do is study your credit report for mistakes, write down ones that you discover, and submit a letter to the credit agency telling them what you have found. Hiring a credit repair specialist to do this process for you is an unnecessary step, you can do the job yourself and safe a boat load of money.
No Gimmicks When It Comes to Credit Repair
Despite what some credit repair agencies insist, they have no secret tricks to getting your credit history fixed faster or better. Instead, they go through the exact same process described above to remove unfavorable mistakes from your credit report. The credit reporting agencies do not require any specialized professionals to document your disputes for you, and you may even get the entire process done faster that a credit repair company would.
Dont Fall for Scams
There are some companies out there that unethically will tell you that they can change negative items in your credit report. Even if they could, doing so would be against the law. The only thing that may be removed from a persons credit report is inaccuracies. For example, if you have filed for bankruptcy, only time will remove this negative item.
The price of fixing your credit via a credit repair company can cost between $400 and $2000. If you want to try and repair your own credit, you can obtain a credit report from the three major credit agencies and then begin filing disputes. This small investment will repay itself many times over through the reduced fees and rates better your improved credit report will offer you.