Credit Repair Makes a Difference
Never before has your credit score been so important. And never has Credit Repair offered such dramatic financial benefits. There was a time, not long ago, when it was enough to pay your bills on time. Lenders would glance at your credit report, and if it looked okay you would be approved. The interest rate you would receive would be the same as all everyone else that was approved. Fannie Mae and Freddie Mac now have pricing adjustments for every credit score. The difference can be as much as .5% for an 60 point score difference. On a $200,000 30 year mortgage, you will pay an additional $22,294.85 in interest!
The Times They Are a Changing
Credit Repair may have made your report look good, but unless there were dramatic problems with your reports you may have gotten little, if any financial benefit. This is no longer the case. Even a small Credit Repair service will pay noticeable financial dividends. The credit markets have changed dramatically, largely as a result of the stress of the post-2006 real estate and mortgage market failures. A 700 score was once considered perfect, now, that has moved to a 780, which only
Make The Most Of Your Scores
To make a Credit Repair service all the more important, the credit scoring model is trickier and less logical that you might think. Once upon a time you would have great credit simply by making your payments on time. This is now far from the truth. You can make all of your payments right on time and still have low credit scores. A Credit Repair service will insure that all of the components of your credit report are in proper balance.
Bad Credit is Cumulative
Your Credit Repair service will include a thorough examination of all three credit bureau reports. Given the importance of each and every point on your credit score not a single item can be ignored. There are a number of reporting issues that many people miss when they proofread their reports. All of these subtle little items must be spotted and removed. Included in this category are revolving accounts with incorrect account limits, paid accounts reporting an outstanding balance, closed accounts reporting as open, and duplicate accounts.
Successful Disputing
The next step in your Credit Repair service is the dispute process. In addition to the tricky compliance issues already mentioned, all questionable issues should be examined. If they cannot be made sense of, they should be disputed. It is important to keep in mind as you continue the project that the credit reporting system is error prone. And it is not self-correcting. Errors can easily linger on your report for years pulling your valuable scores down. The credit bureaus do an important job, but given the volume of data, and the number of participants in the process, errors are a common occurance. If you do not take action, no one else will. Credit Repair is about looking out for you.
Keep At It!
The final and essential ingredient in a successful Credit Repair service is persistence. The credit bureaus are large cumbersome bureaucracies. You may not get the response you want the first time you send a dispute letter. This does not means that you should give up. Credit Repair requires a can-do attitude. If you believe there is a mistake on your report do not take no for an answer. Be organized, remain focused, and you will succeed.
