Four Steps To Avoid Credit Repair Scams

Credit Repair ScamsThere is always a risk when choosing a credit repair service. Falling for credit repair scams is emotionally devastating, time consuming, and expensive. Your credit score is crucial because it determines how much you pay for things like insurance, mortgages, and affects the likelihood that you can be approved for a loan. If you have found yourself in a situation where your credit score is low and less than desirable, there are companies that can help you rebuild your score. However, be careful which one you choose. There are companies that look for innocent people looking for credit repair guidance and those are scams. Read on to learn about the four steps to take to avoid credit repair scams.

Step 1: Look For Companies That Don’t Make Outrageous Claims

Take caution of companies that are claiming that they can erase negative information on your credit report and that they restore your credit immediately. Negative information cannot be erased quickly. If you believe that a negative error is on your credit report, there is a process that goes along with it. However if it is accurate, it has to stay on your credit report for a certain about of time. Stay away from the companies that promise you unrealistic things, this way you can avoid falling from a credit repair scam.

Step 2: Look For A Company That Educates Their Clients

A legitimate credit repair company like Lexington Law aims to educate their clients on every aspect of credit repair and their personal credit reports. It is possibly to repair your credit on your own, but it is a difficult thing to do. Credit repair companies can guide you through the process and makes it easier to achieve your goals. IF a company tells you not to contact the major credit reporting companies directly or that it is impossible for you to fix your credit on your own, it is probably a scam.

Step 3: Look For Credit Repair Companies That Do Not Make You Pay Up-Front

Legitimate credit repair companies will wait until after their services have been performed to request payment. Companies that request payment up-front are most likely scams.

Step 4: Look For Credit Repair Companies That Encourage You To Work On Improving Your Credit Score Rather Than Attempting To Change Your Credit Identity

Many illegitimate credit repair companies try to convince their clients to create a new credit identity by applying for an employer identification number to use instead of a Social Security Number. Doing this can be considered fraudulent.

If you find yourself needing to repair your credit score, do not fall for a credit report scam. Be familiar with your rights, know exactly what your credit score is, and educate yourself on the factors of lowering your credit score. Go to a professional for advice, who is knowledgeable in FTC guidelines, and works to navigate the credit repair process. Search for the organizations that provide credit repair counseling for free.

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How to Increase your Credit Score

Increase your Credit Score

Lets face it we all want the best things in life. We can only obtain these things with financial planning and meticulous preparation. This also goes for increasing your credit score. For someone who has a great credit status, you should not fall below 680. In order to achieve you need to have a lot of discipline when it comes to spending and paying bills on time. It is so crucial that you pay all of your bills on time because if you do not pay them on the due date, your good credit score will slip away before you know it.

Obviously unavoidable circumstances can get in the way of good credit status. This includes getting laid off and undergoing bankruptcy. These particular circumstances will make it harder to pay your bills on time and banks will refuse your request for a loan since you do not have any financial backing. Banks want to be confident that you can pay them back.

These situations are difficult to get through, however there is help you can seek and ways to repair your credit status. Act immediately and always dispute bad credit.

Read below to learn more about how you can finally increase your credit score:

Step 1: The first step to repairing your credit score is paying off all of your debts. If this seems completely and totally impossible, opting to debt consolidation is a great option. Talk to a debt counselor to see if your situation is fit to debt consolidation.

Step 2: Apply for a credit card or a secured loan. This way you can start building your credit up. This will make it easier for you to apply for a loan and the chances of approval will be much greater Just make sure that you pay your amortizations and bills on or before the assigned due dates.

Step 3: Talk to your creditors about your financial situation. If creditors see that you used to be someone who was on top of their bill payments, they may be able to help you.

Step 4: The most important step on the list is to make a few pay cuts. Avoid going on those extreme shopping trips and going out to eat and start being responsible for what you choose to spend. Living within your means and being a conscientious spender will save you a lot of money in the future.

Step 5: Consult a professional from a credit repair company. If you seek the help from a professional it will save you time, money, and will accelerate the course of action towards credit repair. Most of these companies are affordable, like Lexington Law one of the leading credit repair services available. They give you a personal review and you go through the process of credit score counseling. If you are seriously struggling to bring your credit score back to where it once was, a credit repair company can guide you in the right direction. You do not have to feel alone in your financial situation anymore. To learn more information about credit repair companies please visit our home page with the top 5 company reviews.

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5 Reasons That You Should Always Dispute Bad Credit

Always Dispute Bad Credit

Credit score can affect your life positively and negatively. It directly influences what loans you are eligible for, what rates your will get, and the amount you will spend on big ticket items. This means it is important to always know what your credit report is and how you can work to improve it. Below are the five reasons you should always dispute bad credit.

Dispute the bad credit if there is an error in the credit file.

Errors in your credit file can mean a number of different things. This includes a wrong name listed, a wrong address, or a false amount being charged. If the creditor does not have these things listed correctly, there is a higher chance that the records are false and that the charge is not yours. If this is the case, they may not be able to prove that the debt is yours and they will complete the process of removing it from your credit report. It is vital that you check your older debts to see if all of the information that they have listed is correct.  It is always best to check the information yourself and know what you are getting so you can avoid false promises from credit repair companies

Dispute the bad credit if the debt is past the federal credit reporting period.

Debts are listed on your credit report for a certain about of time. Once that time has lapsed, they have to be removed. If they have not been removed then you should dispute the bad credit and then proceed with the process of having it taken off your file. Most of these debts have a federal credit-reporting period of 7 to 10 years. Talk to a credit repair specialist or counselor about how long each particular time of debt can stay on your credit report.  Finding the top credit repair companies will help guide you much quicker to clean up your fico score in a much faster manor.

Dispute the bad credit if the debt is listed incorrectly.

What if a debt is listed at 30 days late when it was only 5 days late? If you have proof of this, then dispute the bad debt. This will bring you credit score back up where it truly needs to be. However, a missed payment can and will hurt your credit score. Keep your records of your debts and payments so you can quickly catch any debts that are listed incorrectly and help your credit score.

Dispute bad credit if you are a victim of identity theft.

If you have been the victim of identity theft, the thief may open up accounts in your name without your permission. This can make a very negative impact on your credit score. Make sure to file a report with the police report immediately.

Dispute the bad credit if you think the debt might not be yours.

If you see an unfamiliar debit listed on your credit report, then you should absolutely dispute it. The creditor will be able to tell whether the debt is in fact yours and they will act to remove it from your credit report. You have the right dispute bad credit that is not yours.

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Avoid False Promises Of Credit Repair Companies

Avoid False Promises

If it sounds too good to be true when it comes to credit repair companies, it is probably false. On most occasions, the promises that credit repair companies make in fixing your credit reports is unrealistic. Do not fall for these empty stories and avoid false promises. If you trust these companies, there is a huge likelihood that your identity can be stolen. Prior to repairing your credit, you might need to do the following things:

Obtain A New Identity

Companies might try to persuade you to create a completely new identity. They will try to explain that in creating a new identity you will be able to fix your bad credit history. This should turn on the red flag. You must know that it is not possible for you to create a duplicate identity. It is illegal for you to obtain a new social security number in your name.

Submitting Wrong Information

Do not fall for companies that will ask you to submit wrongful information when regarding your purchases. Some companies will ask you to do this so that information can dispute, and bad histories can be rectified to reflect a better look on your credit report history. Remember that this is fraudulent, and although it might sound ideal it is completely illegal. A good company should only ask you to improve your bad history by changing spending habits.

Paying For Your Credit Report

Under a few conditions, you might be able to obtain a credit report without bearing any charges towards your credit repair company. It will take you 60 days to obtain your credit report for free after a credit card application is denied. If you find errors on this credit report, you will have to get it disputed with the information provider or a credit-reporting agency.

Keep in mind that any agency or individual cannot remove bad history on your credit report.  You need to pick a top credit repair company like Lexington Law Firm to help you clean up your bad credit score.  Following the rules on deleting an error from your credit report is the only way to do it. However you are not alone. Credit repair companies will know the process better and can accelerate it. Just be aware of companies that request you to obtain a new identity, ask you to submit wrongful information, promise you unrealistic things, and ask you to pay them before the problem is disputed.

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Fixing Your Credit

Your Credit Score is Vital

Fixing Your Credit

Lets face it we all want the best things in life. We can only obtain these things with financial planning and meticulous preparation. This also goes for obtaining a good credit score. For someone who has a great credit status, you should not fall below 680. In order to achieve you need to have a lot of discipline when it comes to spending and paying bills on time. It is so crucial that you pay all of your bills on time because if you do not pay them on the due date, your good credit score will slip away before you know it.

Many People Have Flawed Credit

Obviously unavoidable circumstances can get in the way of good credit status. This includes getting laid off and undergoing bankruptcy. These particular circumstances will make it harder to pay your bills on time and banks will refuse your request for a loan since you do not have any financial backing. Banks want to be confident that you can pay them back.

Act Immediately and Begin Healing

These situations are difficult to get through, however there is help you can seek and ways to repair your credit status. Act immediately. Read below to learn more about how you can finally fix your credit score: The first step to repairing your credit score is paying off all of your debts. If this seems completely and totally impossible, opting to debt consolidation is a great option. Talk to a debt counselor to see if your situation is fit to debt consolidation.  If you need help with this process there are great credit repair services like Sky Blue Credit that will give your great information and reviews to see if they are the best fit for your credit repair needs.

Apply For Loans and Credit Cards

Apply for a credit card or a secured loan. This way you can start building your credit up. This will make it easier for you to apply for a loan and the chances of approval will be much greater Just make sure that you pay your amortizations and bills on or before the assigned due dates. Talk to your creditors about your financial situation. If creditors see that you used to be someone who was on top of their bill payments, they may be able to help you.

Cut Down on Your Costs and Spending

The most important step on the list is to make a few pay cuts. Avoid going on those extreme shopping trips and going out to eat and start being responsible for what you choose to spend. Living within your means and being a conscientious spender will save you a lot of money in the future.

Credit Repair Companies Can Help You

Consult a professional from a credit repair company. If you seek the help from a professional it will save you time, money, and will accelerate the course of action towards credit repair. Most of these companies are affordable. They give you a personal review and you go through the process of fixing your credit score counseling. If you are seriously struggling to bring your credit score back to where it once was, a credit repair companies can guide you in the right direction. You do not have to feel alone in your financial situation anymore. Thank you for reading about fixing your credit.

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