Credit repair is a three-part
process. The first task is obtaining and then fixing your credit
report. The next is getting your finances organized
in order to eliminate debt. The final stage
is re-building your credit so that you are eligible for important
secured loans such as a mortgage.
One a person might utilize credit repair is if they have been
a victim of identity theft or stolen credit or bank cards. Thieves
can cause a lot of problems for someone's credit report, and
if this has happened to you, then you should quickly order a
copy of your credit report and begin to repair the damage.
Credit repair can also be beneficial to someone
who has just experienced large medical bills. Because the insurance
companies are not always on time with their payments, or sometimes
even lose the invoices, your credit can suffer. Your credit
report can be marked with late payments
or non-payments due to no fault of your own. In these instances, credit
repair is a legitimate
way to remove these potentially harmful marks from your credit
report.
RESOURCES: Credit Repair
FTC Bureau
of Consumer Protection - Consumer Information: Credit & Loans
Credit Report
and Score Information from Experian.com
TransUnion
- Check Your Credit Report and Credit Score Online, Instantly
and Securely
Equifax
Products: Credit Reports, Credit Scores & Identity Theft
Protection
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Personal Finance
Money Tip: A strategy for bringing up your credit score is to transfer balances from a credit card that's close to being maxed out to other credit cards to even out your usage. |
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