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2013- CURRENT NEWS WITH CREDIT AND CREDIT REPORTING AGENCIES
The truth is that unfortunately the news is the same old same old. Like someone said, “Everything old is new again.”
In the world of credit and credit repair, the return to healthy credit for those with bad credit, starts with reading and understanding your credit report.
A recent Federal Trade Commission report found that ”1 OF 5 consumers had errors on their Credit Reports that could result in less favorable terms for loans. “ They went on to say,” Consumers should check their Credit Reports for free using AnualCreditReport.com”
Beyond the scope of this FTC study, negative credit that lowers your credit score can have a greater impact on your life than having to pay more for a loan and/or restrictive credit access. Potential employers often “pull” a credit report summary that can determine your job worthiness or even an internal promotion. Landlords use reports from the three major Credit Bureaus to judge suitability for tenancy. Public utilities, cable companies, cell and Internet providers all want to know who your creditors are, how much you owe and your payment history before providing their service to new customers. As the FTC reports, errors that are listed on your Credit File are a major cause for consumers not being able to access effective credit. Credit Report Repair begins with reading your annual free credit report to discover errors. From there you can create credit repair solutions and work with your creditors and Credit Reporting Agencies (CRA’s) to fix the problem.
It is not always an easy task and patience is required to move forward. Sometimes it becomes so overwhelming that consumers need additional help beyond access to their free credit report.
For those of you looking for answers, we offer a free credit repair consultation. Besides reading your annual free credit report, our offer just might be the second most important credit decision you make.