There are so many credit repair services due to the reality of the economy in the US right now . Some are good and some not so good. How do you figure out which one is the best for you? It is not easy to sort out all these CreditRepair services.

You have to ask yourself a couple questions about credit repair services?

2. What level of success can you expect? Do they have proof of what they do?
3. What do they do and could I do this on my own?
4. Does a monthly fee for credit repair really make sense?

Most credit repair services are going to charge a fee  anywhere from $500 to $1500 for their service. This might not be a onetime payment. They might stretch it out over time.

You are not going to find a credit repair service that is going to tell you that they have no proven track record, but you should still request to see the evidence  of what they do. The fact of the matter is that some success with credit repair is guaranteed for all these services if they follow the easy  rules of credit repair that you can easily follow on your own. It is simple to get something updated or deleted from your credit report by sending credit repair letters. Credit repair services rely on the fact that you don’t know how to do it and they do. It is like anything else. You don’t know how to fix your transmission, but with the proper training and tools you could do it. It is the same with credit repair. Luckily for you, there is a credit repair website that gives you the tools and doesn’t charge you anything for using them. It is called CreditBlossom.com.

So what do credit repair services do and could you do this on your own? The answer is definitely YES , you can do this on your own. Credit repair services basically talk to you about your credit report and help you send off the credit repair letters needed to dispute items on your credit report. It really isn’t much more interesting than that. The whole process is laid out for you at CreditBlossom.com.

Credit repair services typically charge you a fairly low monthly fee between $59 and $89 per month. This seems totally backwards because the longer it takes them to repair your credit the more money they make    and that is not your goal. You want your credit repaired fast , not in 6 months. The fact is that sometimes it really does take 6 months to get you where you want to be, but the work that needs to be done is not so complicated that you cannot figure it out on your own. Since you have free access to CreditBlossom.com, you can take care of all this on your own.

There are only two ways todo credit repair: 1) pay a credit repair service hundreds of dollars to do it for you, or 2) come up with the credit repair letters on your own. Before you sign on with a credit repair clinic, consider how easy it actually is to do it on your own.

There are only five simple steps to doing credit repair on your own:

1. Get a copy of your credit report.

2. Read it and decide what you would like to dispute.

3. Produce the credit dispute letters.

4. Mail the credit repair letters.

5. Await the results.

Of course, it is a bit more complicated than how it is written above since each step above entails smaller tasks, but these five steps are the nutshell version of what you are going to do. These five steps are also the same things that a credit restoration service is going to do for you. Can you now understand why you might want to do it yourself?

Ask yourself if you are willing to pay a credit repair service hundreds, even thousands of dollars to create the credit repair letters for you. The majority of these companies usesome sort of software which enables them to create these creditrepair letters in just a few minutes. You may be thinking that if you aren’t sure what you are doing, it would be worthwhile to pay their fees. If you look around on the internet, there are a lot of ‘self help’ courses you can also buy. There is also software that you can buy, but it isn’t inexpensive either, and you have to read a fairly long manual to figure out how to use it. There are ebooks you could download. Often, you are looking at a cost of $9.95 to $29.95.

But have you heard of CreditBlossom.com? CreditBlossom.com costs you nothing. It has all the directions that you will require. It allows you to use the Credit Repair Letter Wiz™ at no charge so that you can generate your entire CreditRepair letter batch in a fraction of the time. Honestly, you will save yourself an hour or more using the Credit Repair Letter Wiz™. You will probably save yourself two hours, which will give you the time to go through the short video and/or written directions. This website really makes it easy.

Today’s lending market is even stricter about credit scores. If you are below a 740 credit score, you can have adjustments to your interest rate depending on the type of loan you are applying for. If you are seeking an FHA loan and you are below a 620, your interest rate will be adjusted higher or you will be charged more fees. Lenders are protecting themselves and they write the rules. If you are below a 580 credit score and are approved for an FHA loan your rate or fees will be adjusted even more.

You know your credit score is important and you know you need to find a credit repair service or credit repair business that can help you. The question is how do you find one and how do you know what you are going to get and how do you know who to trust to do this kind of work for you. There are a lot of good reputable companies. With anything, you want to look for a company that has been around a while because they probably know what they are doing. There is a lot of truth to that. But you have to consider a few things. When you need service do you always go with the highest bid? Do you always buy the most expensive item you can afford at the time you need it? Probably not. If I can make the cheap item from Wal-Mart work, then I am probably going to go that route before I go and buy the gold plated one from Brookstone. Yes, the Brookstone item will last longer and look nicer, but if they both perform the same function and the Wal-Mart item is one tenth of the price, I think I am money ahead. My strong suggestion is to look into doing your credit repair yourself with the help of your lender who turned you down. If you lender took the time to tell you why you are turned down and they offered you advice to improve your credit score, they are probably willing to go further with you, but they are not going to do that unless you show initiative. I know from my point of view as a lender, I am happy to help those who are motivated enough to help themselves. Credit score repair is not a “drop it off and pick it up when it is fixed” kind of deal. No matter who does your credit repair, you will be required to put forth some effort. There are certain things you will need to provide that the person helping you has no access to. You are going to have to get your hands a little dirty.

Your score can improve a lot if you have a lot of bogus information on your report and it is worth your effort. Don’t wait on this. A lot can change for you when your credit is reporting accurately.

Credit secrets are closely guarded by inside professionals. I think everybody should know about these tricks of the trade

 

I have compiled all the insider tips and dirty secrets the credit reporting agencies don’t want you to know about . 

 

 If you are serious about ways to increase your credit score, learn these insider tips.

 

 

 

As a credit professional  in the credit trade , I see all types of people and their credit reports  . Mostly they are negative aspects of credit , but most people can do very simple things to improve their credit scores. These tips are not hard, but you do have to pay attention to how you spend and how you pay your bills.

 

Insider Secret #1 

 

To begin  the exercise of credit repair by writing a dispute letter. If that does not work you have to call the credit card company  . It’s proven that after writing a dispute letter, the best way to remove accurate information from your credit report is to negotiate directly with the company who is reporting it . You can make two very compelling cases for removal: 

 

1. payment in full by installments 

2. partial but immediate payment 

 

Using a Credit Repair Service costs you money and time . If you exhaust the dispute processdeal directly with the lender. Do so yourself instead of using an outside source. 

 

 

 

Insider Secret # 2 

 

If you strike out with the credit reporting agencies , you have the right to have a consumer statement added to your credit report. Only do this as a last resort and only after you have exhausted all means of disputing, including direct negotiation with the company reporting on the status of your account. The consumer statement you insert into your credit report is supposed to be sent to anyone who requests your report. I find this is effective only with employment or housing as loans are score driven .  

 

Insider Secret #3 

 

Is it possible that you are only a signor on an account?   For instance, a married couple shares a charge card account  , but the card was issued in the wife’s name. The other might have use privileges and may have even been responsible for running up the debt , but he is not responsible for that debt and the account should not be on his or her credit report if negative information is being reported. The inverse effect is also possible and this may in fact be helping your credit . 

 

Insider Secret # 4 

 

The other way to deletion is through time . The Fair Credit Reporting Act specifically outlines the term limit for charge-offs, late payments, tax liens and judgements. After 7 years these items must be removed from your credit report. But many times you have to go in and do this work. The statute of limitations for a Bankruptcy is 10 years. Comb through your credit report and dispute every negative entry that is older than 7 years. You will be surprised how many accounts you can accomplish and how many points you can add . 

 

Insider Secret # 5 

 

Credit Reporting Agencies have 30 days from the time when they receive your dispute, to respond to you . If they are not able to complete their investigation within that time , they are required by provisions in the Fair Credit Reporting Act, to delete the negative remarks  from your credit report. (Bankruptcy is 10 years). 

 

If you are to be successful in pursuing credit repair in this manner  , give yourself the best chance of success by following two basic rules (6 & 7). 

 

Inside Secrets #6 

 

Always include a copy of your drivers license or other identification showing you are indeed the petitioner. The FCRA allows for fines and imprisonment to employees of the Credit Reporting Agencies who violate privacy policies and give your credit information to just anybody. If you don’t comply with their identification process, you will not be given an investigation. 

 

Inside Secrets #7 

 

Knowing the Credit Reporting Agencies have 30 days to complete their investigation, always send correspondence to the Credit Reporting Agency by certified mail-return receipt required. This insignificant charge you incur  will be worth a lot if you are required to prove that the 30 day statute was violated. Keep copies  and follow up on the 31st day . 

 

Inside Secrets # 8 

Get a secured Credit Card and never charge more than thirty percent of the credit limit . This limit will be the amount of money you deposit with the lender . Pay the balance in full faithfully every month and do not be late. You will soon see that you will increase your credit scores and you may see offers of more credit arriving in the mail . 

 

Inside Secrets # 9 

Closing old accounts usually lowers your credit score . If you have old credit card accounts which you don’t use, leave them open as it effects the credit balance ratio, a critical number for your success  and this is one way to keep your scores up. Closing these accounts lowers your available balance. There are time when closing accounts is a good idea and this is usually when you move and don’t alert the card company. If you close an account make sure you are the one who invokes this and not the lender. Check your credit report making sure a notation is “closed by account holder.” 

 

Inside Secrets #10 

Pay your bills early. Credit scores are partially a result of a ratio between credit available and credit used. The trick is to stay in the thirty percent range of credit used and this can be accomplished by simply paying your bills early-before the reporting period. Late pay means late fees and this is just another way for credit card companies to extort money from you . Pay them early. After all, it’snot your money  .

 

 

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