Are you suffering from bad credit? Do you get turned down for loans and credit cards? Do you have a low credit score? Are collection companies calling you on past due or closed accounts? Do you wish you could clear this mess up? You need to read the rest of this article.
I am a credit repair expert and I am going to tell you what we tell our clients to do, but for free (we charge our clients $500 minimum to do this for them). I am going to tell you how to fix your credit for free because this information should be free in this terrible economy.
Poeple fall on hard times, someone loses their job, a medical emergency happens… It is all too easy to fall into a debt trap that can seem insurmountable and your credit quickly gets destroyed. Many people will tell you that you have to pay extremely high interest rates on loans and that it will take many years to repair your credit.
This does not have to be the case. I am now going to tell you how I and my colleagues go to work to restore a clients credit. First, we order their credit report and score from all three credit bureaus (Experian, TransUnion, and Equifax) – this is a must because without the credit score only the expert understands what has changed and what needs to be changed. The client can’t really see the benefits without the score.
The credit score will give you a quick snapshot of how good or bad your credit is. Loan officers and finance managers will use these scores to determine your credit worthiness. So it is very important to have as high a credit score as possible. Then we will look at the derogatory items listed (late payments, defaulted accounts, judgements, etc…) and we will send a letter to each credit bureau on each and every one of these derogatory items arguing its validity.
It doesn’t matter to us if the listed item is valid or not. We write anyway. The reason is simple. The credit bureaus have a very limited time to find out if an account is valid or not and they must send a letter requesting proof of the debt or similar to the company or agency that is reporting the derogatory item. 9 times out of 10 these accounts are packaged and sold and resold numerous times.
In that shuffle the proof gets lost most of the time. So what that means for our clients and for you is that if they can’t prove that debt within 30 days then the derogatory item must be corrected or dropped from the credit report – this is very beneficial to one’s credit report as the fewer the derogatory items the higher one’s credit score will be.
After doing this for all the derogatory items on a client’s credit report it isn’t uncommon to see an average increase of two hundred points or more in their credit score! That is huge! That can mean the difference between a 500 and a 700 credit score. Nowadays a 500 credit score has no chance of getting a home mortgage, but a 700 credit score can get them all day long.
Now you know the number one tactic all credit repair agencies and companies use to repair and restore their clients credit scores. Now go and rescue your credit and start enjoying the benefits of having good credit.