Credit Repair – Fiction or even Fact?
In this world of television and internet it’s very difficult sometimes to decipher truth from fiction. Additionally, due to the speed at which info travels word gets around at an astounding rate (whether bad or good). One of the subjects that have gotten negative press lately has been the credit repair industry.
You have witnessed things like, “Start a new credit file today!”, or perhaps “Improve the FICO of yours by 300 points!”. Nevertheless, you’ve also heard many bad things. Several of them related to those two sayings above. First, I’d like to sort fact from fiction.
You can repair your own credit. You are able to also hire someone that will help you repair the credit of yours. But let me explain the difference between the two. First, hiring a specialist could cost you hundreds if not thousands of dollars with “no guarantee” that anything will likely be repaired. Furthermore, there are actually many so called specialist giving out illegal repair information!
The the fact is that often you’ll be asked to dispute almost everything on your credit file as incorrect. Now, eighty % of information reported to the 3 main credit bureaus (Trans Union, Experian, & Equifax) is erroneous information. Nevertheless, in accordance with the FTC this is fraud, which is against the law.
The fact is you don’t need a credit repair company or any specialist within an industry (legal or even otherwise) that will help you repair your own credit. You have within the hand of yours the ability to self repair the credit of yours. With only a compact time investment you can repair your very own credit.
The myth is easy, that you can’t repair your very own credit. This is a myth perpetuated by deceitful individuals that have marred the credit repair industry. Are all credit repair specialist like this? No, they are not. Some people are very professional, honest and courteous. They don’t request money prior to the repair has taken place and also will assist you with the credit repair needs of yours.
Nonetheless, you can repair your own personal credit. There are recorded instances of credit repair businesses revealing to their clients never to go directly to the credit bureaus (when it is the right of yours to do this). It’s also your best (according to the FTC) to get a free yearly credit report (of all 3 major bureaus).
As you are able to see, you can get exceptional resources offered (directly from the Federal Trade Commission) to assist you in your credit repair needs.
To conclude, you’ve the right to repair your own credit. Repair is not fiction or myth, but truth that can change your life for the better.