Credit is everywhere! All of it. Everyone knows that, like all things in life, it’s in our best interest to always improve our financial situation or (I suppose) repair anything that threatens our financial well-being. In fact, most people just probably hate the thought of working even mildly financially.
So, before you start signing a contract, it’s important to understand that credit repair and any company’s work toward maintaining a healthy credit record does not necessarily do anything to improve our financial situation.
Firstly, anyone getting credit is generally in the minority among Americans. Only a minority of people on the planet have had credit history-generating power. Thus, any company and individual that uses credit responsibly should have a high bar for customer service. If you are considering getting licensed credit repair companies, you should make sure you look within this bar.
Not only is obtaining a copy and looking for legitimate companies extremely valuable-you should contact them personally before signing upon any copy. Even if someone is providing you with copies of credit report information, I suggest you wait a few days-the process of obtaining a copy can take a couple of hours. Additionally, there are large telemarketing firms who will lead you on a mutually agreeable message between you and them. Remember, it’s not good debt vs. credit. It really isn’t at all.
Secondly, to get the best possible credit repair company, you should check out all of the available creditors. Are there reputable companies who have authority over creditors? Check! You should surely compare their standards with yours-which are quite low. By law, one must have a current rating to be eligible to receive a loan or credit line. Additionally, if you’re considering getting licensed, you should verify the previous addresses where you’ve been located. Check this in before signing up. If, for example, you are looking to purchase an apartment in your home state-you’re unlikely to get the best interest rates. Check with your state Attorney General’s office. If any of the attorneys general have turned you down, you can ask them for information on those addresses you’ve mentioned. They may even ask you for an address map to visit-yourselves-or – ask them to contact a non-affiliated business.
Thirdly, credit reports should contain accurate information relating to your most recent credit transactions-you’re just as likely to dispute a dispute with all three of the major credit bureaus should you have a problem. Your credit history should include errors that need to be corrected, not just an occasional error.
Lastly, there are probably companies who don’t follow the application of most laws. I’m mentioning this to inform you that you aren’t registered with those firms-I mean, who do these guys? You owe them a lot. That’s right-I have filed complaints with the two major bureaus about my current unfavorably completed credit history-not to mention the fact that I have yet to pay a single bill in full or reduce my total credit debt.
So, don’t panic. If some questionable company-even among companies-plains to you-just do a little research. You may be pleasantly surprised at how many false start up companies and debt consolidation firms, and how many you can count! Keep your head above the parapet and do your own credit repair-in-a-blue-and-a-siren-in-a-swivel. You deserve a phone, internet and internet centric society that will protect you and deliver credit to your families.
Credit Repair Scams
The following companies provide extensive information on the credit repair dilemmas consumers are subjected to:
Credit Reporting – Experian, Equifax, and TransUnion provide detailed information about consumers whose accounts they run on a quarterly basis.
Consumer Credit Counseling Services have professional counselors available to assist consumers in resolving their accounts issues.
Equifax, Experian, or TransUnion will refer you to a consumer assistance office if you have any questions about your credit report.
Wage and Hourly Credit Counseling Service will assist you with your credit report and help negotiate work or re-employment arrangements.
Independent Credit Bureau and Consumer Law Center will investigate alleged credit-related crimes and help you develop a contract with creditors.
Summary Credit Score Verification and Rating agency is a nonpartisan, nonprofit organization that maintains a credit report and rating.
A credit bureaus maintains a web site, www.bureaus.gov, that maintains websites, webinars, and information for consumers. Consumers can obtain a copy of their credit reports directly from these bureaus.