A credit report is a powerful piece of paper. Lenders look at it closely when deciding whether or not to give you a loan or credit card.
Insurance companies will sometimes use it to determine your rates or whether they will issue a policy at all. Employers will access it and use it to determine whether to offer you a job or promotion.
With so much importance placed on your credit report, it is absolutely essential that the information it shows puts you in a good light.
Do it yourself credit repair can save you money!
According to the Fair Credit Reporting Act, consumers can dispute mistakes in their credit report for free. It will take some time on your part to pull your report, document any errors, type up a letter and send it in, or submit your dispute online. By spending this time analyzing your report and correcting mistakes it could save you a lot of money by getting a lower interest rate.
A lot of people decide to hire credit repair agencies to do the boring work for them to save themselves some time. This is one reason to pay someone to do the work you could easily do yourself.
There are no secret tricks to credit repair
Don’t think you don’t have the knowledge to clean up your credit report and that a credit repair agency can do it better. knows a bunch of angles that have eluded you.
Everything you need to know to fix errors on your credit report are readily available and there is nothing complicated about the process that it requires a third party or professional agency that specializes in credit repair unless you don’t want to spend the time it takes.
Keep yourself from getting scammed
If you decide you want to use a credit repair agency to make the repairs make sure to check them out. Don’t fall for the ads that claim an agency can erase bad credit from your report. The only thing by law that can be changed on a credit report is inaccurate information. If you have had a bankruptcy, the only thing that will legally remove it from your credit report is time.
Credit repair agencies can charge anywhere from $400 to $2000 for their services. You must decide for yourself if that is a worthwhile investment to save you the time it takes to do the credit repair yourself.
Remember they are not doing anything that you can’t do for yourself. Once a year you can get a free credit report that lists your history with all three credit bureaus. The rest of the investment in cleaning up your credit is in the value of your time it requires.