Credit Repair Agency

A Credit Repair Agency – What Can It Do For You?

credit repair agency advertises that it can help you repair bad credit so that you qualify for that loan if you need to buy a new car or vacation. However, you do have to be careful when engaging the services of one of these agencies because many of them will not provide you with any information. That is all you can hope for with a credit repair agency because you can only repair your bad credit.

If you contact a credit counseling agency, you will get valuable advice. However, it would help if you did not have to pay for this service. A wealth of information is available on the Internet to help you with your credit problems, and even workbooks that you can download for free. Instead of spending your hard-earned money on advice from a credit repair agency, there are many tips and techniques that you can get for free.

The primary advice for helping you repair your credit is to request a free copy of your credit report. Three major credit agencies have a file on you and your borrowing habits. By law, you are entitled to one free report a year, and everyone should review their credit report at least once a year to ensure there are no mistakes. When you contact a credit repair agency, you may get a free report, but you might also have to sign up and pay for credit counseling services.

If you are having a difficult time keeping your credit in check and find yourself in over your head, then you might benefit from the services of a credit counseling agency.

If you are contemplating bankruptcy, the people at these agencies can devise ways to help you prevent this. The counseling agencies have people trained in dealing with creditors and will negotiate with them to take a lower amount of payment. They can also help you negotiate a debt consolidation loan to pay off your outstanding accounts. Remember that this credit repair agency cannot wipe any items from your credit report.

You can take charge of doing your credit repair without having to resort to using a credit repair agency. If you are determined to bring up your credit scores, you can start by making a conscientious effort to make all your payments on time. A consolidation loan is the route you should take. If you are being remiss when sending in your payments and have no financial difficulty, you will just be wasting your money with a credit repair agency. Your credit rating will soon rise once you take charge of your finances.

Do you need a commercial credit repair agency? Probably not.

Improving Your Credit Reports

10 Tips To Improving Your Credit Reports

Credit is one of those things that — for the uninitiated, at least — far too many people don’t take very seriously until they need it. 

Here are ten things you can do to keep your credit in good shape so it is there when needed.

1. Pay your bills on time. A strong history of making your timely payments will do wonders for your credit profile, making you appealing to lenders. Often, a good payment history in your credit reports can lead to lower interest rates as well.

2. Pay your bill in full whenever you can. This will save you money on finance charges and even strengthen your credit scores if they are already in the top tier.

3. Do not use more than 50% of the credit line available on each card.

4. Lastly, if you see anything incorrect on your credit reports, dispute it in writing with the credit bureau right away. You can also contact the creditor to inform them that their information is inaccurate and request that they report it correctly with the credit bureau on each of your reports.

5. If you have recently completed bankruptcy, begin rebuilding with a secured credit card or one where it is no hidden fact that they are favorable to people like yourself. This usually comes at a higher interest cost, but after three months, your credit score will increase because you are paying.

6. If you have accounts listed as open but are closed, call the creditor AND send a letter to the credit bureau. Often, creditors never report an account as closed to the credit bureaus. …Or they’ll question why you have all of that available credit on the report in the first place and what your reason is for wanting to obtain it. If the lender believes you will increase your debt load substantially with all that credit, then a lot of seemingly valuable open accounts sitting at zero balances could make you look like someone who belongs in deep down the bowl loan world.

7. Keep your credit score high: Do not make many applications, as this will lower some points on your credit status due to multiple inquiries.

8. Limit your credit card usage to the essentials, and do not spend more than you can pay off within 6 months.

9. If your credit cards have extremely high credit limits that you will never use, balance them out by calling the creditor and asking to reduce my limit to something that makes sense for me. Not only will this help avoid the temptation to overspend, but it will also prevent potential lenders from looking at all that unused available credit and wondering if you are going on a debt spree.

10. The easiest means is to check the details reported by each of the three credit bureaus on a 6-month basis. Examples are TransUnion, Experian, and Equifax. You can get a free copy of your credit reports every 12 months at AnnualCreditReport. com