|
Recent Articles:
What To Expect From A Credit Repair Company
It would be great if everyone had good credit. But the fact of the matter is, many people do not, and they have to suffer...read more
Credit Report Repair Software History
The credit report repair project started back in 1995. During that time, I had just freed myself from the long hours...read more
Credit - how it works and how to repair it
How Credit Works
Credit is undeniably important and can influence everything from
your ability to secure a loan to...read more
A Guide to Do-It-Yourself Credit Repair
Having poor or bad credit can be a major burden, not only in your financial life but in other aspects of your life at...read more
Reversing Credit Repair
If you want to reverse your credit repair and land deeper in debt, let me show you how. Have you ever seen the advertisings...read more
10 Things You Must Do If You Want To Repair Your Credit Report
Credit problems bedevil a large number of people. If you have a credit problem I'm sure you know what I mean. Suddenly...read more
Home Owners Avoiding Complications in Credit Repair
Avoiding complications in credit repair is almost important as
getting out of debt. When we have bills that were...read more
Grants, Loans, "Free" Credit Cards And Credit Repair: The Whole Truth And Nothing But The Truth
You got creditors calling you everyday. You could lose the car or house. Your teetering on the edge financial ruin - then...read more
|
|
Our
Featured Article:
Avoid The 7 Most Common Credit Repair Myths!
Vincent Dail
Credit repair is not hard and the very best way to improve your
credit report score is to do it yourself.
Let's take a look at 7 of the most common myths you'll come
across and examine them all in detail.
Credit Repair Myth #1: If I declare bankruptcy, I can begin my
credit report all over with a clean slate.
Many bankruptcy attorneys do not adequately understand or
explain the effects of bankruptcy to their clients. When you
file for bankruptcy, every credit account that you decide to
include in bankruptcy will become an "included in bankruptcy"
account.
Additionally, a bankruptcy filing and bankruptcy discharge
listing will appear in the court records section of your credit
report. Because so many negative items are attached to the
bankruptcy, it becomes difficult to remove all traces of the
bankruptcy. If at all possible, you should avoid bankruptcy at
all cost.
Credit Repair Myth #2: There are negative listings, such as
bankruptcies and foreclosures, that are impossible to remove
from the credit report.
There's no type of negative credit listing that can't be removed
from a credit report by you. Negative items, such as bankruptcy
or unpaid debts, are certainly more difficult to remove from the
credit report, but this has more to do with the operational
systems of the credit bureaus than with the severity of the bad
credit item.
For example, judgments and tax liens are severely negative
listings, yet are easier to remove.
Credit Repair Myth #3: When I pay off a past-due account, such
as a charge off or a collection account, it will show "paid" and
will no longer be negative.
It is quite difficult to restore your credit without somehow
satisfying your outstanding debts. However, paying an
outstanding, delinquent debt you will change the account status
to "paid collection," "paid was late," or "paid was charged off"
- which will still stand out as a very negative credit listing.
Sometimes paying off a debt can actually hurt you. This is one
of those occasions. These type of collection accounts are
allowed to stay on your credit report for a "maximum" of seven
years.
When you have outstanding debt, it is almost always prudent to
seek professional credit repair help so that you may settle your
debts while creating a reasonable possibility of deletion of the
negative listing at the same time.
Click here to read the rest of this
article, as well as many others.
|
