Advertisements abound nearly everywhere nowadays (online
and off) selling books, systems and secrets to help you fix
your credit. A lot of these programs have claims which
read like the covers of supermarket tabloids:
"In only 3 hours my credit score jumped from 580 to 676!"
"Erase bad credit and smash your debts with only two
extraordinary Letters!"
Are these types of claims ALWAYS too good to be true? The
answer is "Yes and... no."
While many people would love for you to think the only
thing that can fix bad credit is time, in reality, nothing
could be further from the truth. In fact, time is only one
of any number of factors which can fix a credit report, but
it's a far cry from being the only factor. How can I back
this up? It's simple.
Under a consumer protection law known as the Fair Credit
Reporting Act (aka the FCRA) the only negative information
which can remain on your credit report is not what is
accurate, but only what can be proved as accurate under the
FCRA. Exactly what does this mean to you?
It means any negative item on your credit report can only
remain there if it is accurate and CAN BE PROVED AS SUCH
under the guidelines of the FCRA. This undisputable fact
presents consumers like yourself with both good and bad
news.
The good news is that, through the FCRA, your credit score
can more than likely be improved dramatically in a very
short period of time with only a modest amount of effort on
your part.
The bad news is that while the actual "work" will take very
little of your time, you will fail unless you have good
information on exactly how to go about it. Believe it or
not, 9 out of 10 courses on credit restoration will do
nothing more than lead you into snake pits because they
will provide you with what the industry refers to as
"Boiler Plate" dispute letters. These types of letters are
nothing more than form letters and, quite frankly, the
Credit Bureaus and Creditors will get a good laugh at your
expense if you try to use them.
I agree with the Federal Trade Commission (FTC) that there
are things that a credit repair clinic can take care of for
you legally that you can do for yourself with little or no
cost, what makes the credit repair clinics successful is
access to the inside tactics and techniques. This involves
strategies such as "Proof of Contract", "Constructive
Notice", "Challenge of Procedure" or "Restrictive
Endorsement" and many others.
the question you have to answer will be what are you trying
to accomplish and how much time will it take you if you do
it yourself? Remember, you get what you pay for. If you
pay little or nothing, expect a proportionate return in
your results.
This may "sound" impressive but it's are really quite
simple. When all is said and done, it is nothing more than
a method of communication which exercises your consumer
protection rights, gets the results you want and raises
your credit score. More importantly, once you learn how
simple all of this can be by doing it for yourself, you
will find there is a fortune to be made doing it for
others! Maybe even be on your way to a new career, who
knows? Either way, it all starts by requesting a free copy
of your credit report here:
http://www.AnnualCreditReport.com.
In a future article in this series, we'll answer the
question: "Is Your Credit Score Costing You A Fortune?"
----------------------------------------------------
Michele F. Richardson, is a Small Business and Personal
Consultant, who specializes in helping people find
practical solutions to everyday issues. The "CREDIT
SECRETS Bible" has been in print since 1994 and is
published by Consumer Publishing Group. To get coveted
insider secrets you can use to pave your personal pathway
to financial access and stability, visit
http://creditrepair.globallifetrends.com/ .
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