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How to Get Credit Repair Help

Sep 15, 2008
Is buying a home or car in your near future? Did you realize that your credit score is going to determine your interest rate? This will be with you for many years in the future.

A credit repair specialist can take a look at your report and be a huge help to you. By offering tips and suggestions on how to fix your credit and prevent future mistakes, this will only help your credit score to rise.

It is hard to believe that one number can have such a huge impact on your financial future. This credit score does make a difference and affects every loan you take out. The interest rate then will determine what you owe and that has an impact on your monthly budget. Take note now, that every single point in your credit score matters.

The mistake that most Americans make is simply ignoring their credit. It is not going to change or go away on its own! I think most people are looking for a quick fix or either huge results and that is not always going to happen. Actually, that usually never happens. Instead start taking small steps because those will add up with a big result.

By making small oversights you can push your credit score into a negative position. Whether you have good or bad credit, any changes you make can only help you and affect your future. Credit repair is necessary because no matter where you stand, there is always room for improvement.

You need to start off by taking a look at your credit report. When it comes to credit repair you need to be completely educated on what you are trying to fix. Before going to apply for a loan, wouldn't you like to see what they will be basing their decision on? There is a problem with the credit reporting system. Credit bureaus do not want to spend the money necessary to keep up with quality control.

Due to this deficient system they have set up, congress has allowed us access to a free credit report every year. That leaves it in your hands to pay close attention to your report and any inaccuracies that have been reported or not updated.

It is no secret that lenders make decisions based upon credit scores. Did you know that credit bureaus sell a "special" credit score and that is the FICO score? This is the score that the Fair Isaac Corporation comes up with based upon consumer's credit information. Now, the bureaus are not selling these scores to consumers.

This is where it is a little tricky, but you can follow along. If you purchase your score from the credit agencies you are getting their score (which has no bearing towards FICO). Yet, on the Fair Isaac Corporation website you can obtain all three of your scores for $50. This is a worthwhile investment.

If applying for a loan anytime soon, then you really need to place some restrictions on your credit usage. Any new accounts you open will hurt your credit scores and any extra inquires aren't good either. I know it is exciting, and take note from people who have gone out and bought new furniture on a new line of credit before even obtaining a mortgage loan! Only to have that new account hurt their score and then have an affect on their interest rate.

Be cautious of any store that offers point-purchase credit offers. You hear it weekly "Do you want to open an account and save 10% on your purchases today?" Just be firm and keep on saying no to that. Of course you can save money, but really do you want to do any more harm to your credit score right now?

All of your credit lines and loans are important, but credit cards really have a major impact on your scores. If you have a credit card that is right to the limit and then you apply for another loan, your score is going to take a hit. Even up to a hundred points! Start now and pay your balances down. Ideally, when you work with a credit repair service you would like to have your balances around 20% of the limit.

Maybe you have filled out the mortgage application only to be told that your credit scores are too low. Don't give up hope. Mortgage Brokers have a resource at their fingertips called Rapid Rescore. This is credit repair software that helps them to calculate how to get more points for your score. Only mortgage brokers have access to this and can help potential buyers raise their scores.

Say for example, you filled out the mortgage application only to find out you should have paid down your balances beforehand. There is time, just make contact with your credit card company and let them know you would like to make payments and get the balance down now. As fast as possible! They will be able to give you the help you need.

Once you have made the payment ask them to send or fax you a confirmation letter with your new balance. This letter needs to be given to your mortgage broker and they can do the Rapid Rescore. Usually within three days your scores will reflect the rescoring and your new balances.

Finally, there is professional help available. There are credit repair experts who are ready to help you. There are many possible ways to raise your credit score and repair your credit. Taking it to the professionals will pretty much guarantee that every option is explored and handled in the fastest manner.

Remember, that every point counts here and trusting someone who knows what they are doing cannot hurt, only help you. Take the time to find a reputable credit repair agency and before you know it your scores will have nowhere to go but up!
About the Author
Christina Costa is a freelance debt and credit repair writer, who recommends eQuoteGrabber.com, where you can receive help with all of your credit repair needs in seconds! Visit www.eQuoteGrabber.com today!
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