More Than Meets the Eye
Unless you are independently wealthy and pay for everything with cash the content of your credit report has a profound effect on every single moment of your life. Think about it. How many things in your immediate personal environment have been determined by your credit report? The impact may be greater than you are aware.
The Ripple Effect
Do you have a mortgage? If so, your monthly payment was determined by your credit score. The amount of money that you part with each month to pay for your home may be the biggest single financial obligation that you have, and its impact ripples through everything else in your financial life. Every dollar that you spend on your mortgage is one less dollar that you have available for the other expenses in your life.
Every Financial Decision is Effected
A larger mortgage payment may very well shape every single financial decision that you make. When you make decisions about your children’s school, your vacation options, that large screen television that you want, and even dining out, your choices are dictated by the money available after paying large bills like your mortgage.
Little Things Add Up
And as obvious an impact as your mortgage payment has on your life you should not overlook the myriad other items that are determined by your credit scores. Your automobile loan payment, like your mortgage payment, ripples through your lifestyle by limiting other purchase choices that you make. Credit cards, personal loans, debt consolidation loans, home equity loans; all count.
In a perfect world every consumer would understand the relationship between the purchase decision that is right in front of them and the inevitable impact that it will have on every future decision that they make. In the credit repair business we see cases everyday where good judgment was absent at the exact moment that it was needed most.
Paying the Price
Have you every purchased a new car? Did you find yourself checking out the higher end models on the floor? Many people simply forget their budget and buy the car of their dreams. Nothing wrong with that! But when vacation time comes and that trip to Mexico is no longer possible, the relationship between that automobile and everything else in life becomes all too tangible.
Given the major impact that your credit report can have on your life, from the smallest credit card to your mortgage, you should not take the content of your credit report for granted. Credit repair can pay tremendous dividends. Did you know that over seventy percent of all credit reports have errors? Did you know that even the neutral information on your credit report can play a major roll in your credit score?
A Thorough Checkup
When you examine your credit report, if you are like most consumers, you scan it quickly to see if there are any late payments that have been reported. You probably look for the obvious derogatory information on the report. In the credit repair business we discover an amazing number of harmless looking errors, such as account opening dates, high credit limits, current balances, and duplicate accounts. You might think that these items can not have much of an impact. This is not so; we regularly see credit score improvements of up to one hundred points simply by correcting things that the customer never thought to look for.
Your Credit, Your Life
Nothing can have as much of an impact on the quality of your life as your credit. You owe it to yourself to take a good look at your credit report. Don’t neglect anything. The Fair and Accurate Credit Reporting Act, in response to the tremendous number of errors that continue to impact consumer’s financial life, forced the three credit bureaus to provide a copy of your credit report once a year for free. Take advantage of this. If you feel daunted by the task, hire a reputable credit repair company to do it for you. You work hard for your money. Make sure that your credit works just as hard for you.
Credit Repair: Do it Yourself – gimmie credit
A Little Complaint
I have nothing against the credit bureaus per se, but I’m a bit annoyed at their vociferous efforts to convince consumers to attempt credit repair on their own rather than hiring a credit repair company to perform the work for them. Oh, I have no doubt that many consumers have the ability to correct the errors that appear on their own reports. As it happens I have the ability to cook my own dinner, and often do so. But from time to time I also enjoy dining out. I also believe that I could repair and service my own car, but faced with the thought of reading a repair manual, I choose to let my friendly local mechanic do the job for me.
Can You Do it?
So can you fix your own credit? Sure you can. But after dealing with the credit repair process for almost eighteen years I can tell you that unless you take the time to learn how to do the job you will be faced with a horrible amount of frustration and most likely give up the chore without ever producing much in the way of results. The information that you need to do the job is available. But please be aware that you will not get this information from the credit bureaus. We are always happy to tell people how to go about the task of fixing their credit. We are glad to help. In fact anyone taking the time to read through our blog will learn everything they need to know. We hold nothing back. Our experience has always been that the educated consumer is the best customer.
I should also point out that my idea of a reputable credit repair company excludes companies that charge insane amounts of money or engage in questionable practices. To put my thoughts in context, I believe that our company offers a pricing structure that is appropriate for the business at forty-nine dollars per month with no contractual obligation to continue the relationship. I don’t mention this as a selling point, but simply to provide perspective for readers that may have encountered credit repair businesses that charge well beyond this amount or insist on a long term membership. I see both of these practices as abusive.
I’m a bit of a do it yourself type of person. If I had the time I would read that auto repair manual. I’d be pretty happy to be in the driveway right now elbow-deep in engine oil. On the other hand I have other responsibilities and therefore have to prioritize my activities. Do you have the time and inclination to learn the steps involved with the job of credit repair? I applaud you. But if there are other things that you would rather do with your time, or if the thought of paperwork makes your skin crawl, just hire a credit repair company!
What We Do
No mystery. When you hire a good credit repair company you will give them a limited power of attorney allowing them to deal with the credit bureaus on your behalf. Before starting the repair process they will review all three of your credit reports with a trained eye and identify every single thing that can have a negative impact on your credit scores. A good credit repair business will not simply focus on the obvious derogatory issues. Neutral items that you may not notice can make an amazing difference. The credit repair company will write and send all of the dispute letters, monitor the results, and follow through as needed. It’s not rocket science. It is just a matter of diligent and informed effort. Is it worth forty-nine dollars a month? Many people think so. Many others make the effort themselves. It’s no different from any other decision in life.
I get asked about this on a regular basis. And I’m happy to see people making the credit repair effort. But I would really like to see everyone get the results that they deserve. If you don’t take the time to make a proper effort you are not doing yourself any favors. Your effort will produce little or no results and you will most likely give up. I’m not passing judgment on your determination or intelligence, but I talk to people all day long about credit and know from experience that dealing with the credit bureaus is something less than fun. Do it right and you will succeed. Just remember what is at stake. Your credit scores affect the cost of every dollar that you borrow. And from your credit cards to your mortgage this translates into real dollars.