The TRUTH About Bad Credit And
Credit Repair. . .
Have you ever
wondered about those companies that claim "you can erase your
bad credit overnight?"
How about
those ads that say you can get any major credit card "100%
Guaranteed" regardless of your credit?
Ads abound
almost everywhere (online and off) selling books, systems and
secrets to help you fix your credit in a hurry. Many of these
programs have claims which read like the covers of supermarket
tabloids--
“In 3
hours my credit score jumped from 580 to
676!”
“Erase
bad credit and smash your debts instantly with just 2 Magic
Letters!”
“Create a completely new credit file
in 24hrs!”
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 believe that the only thing that
can fix bad credit is time; in reality… nothing could be
further from the truth. The fact is, time is only one factor
which will fix a credit report (but it’s a far cry from being
the only factor).
Under a
consumer protection law known as the Fair Credit Reporting Act
(a.k.a. the FCRA) the only negative information which can
remain on your credit report is not what is accurate… but
what can be proved as
such.
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 TO BE ACCURATE under the
guidelines of the FCRA. The good news is that a bad credit
score can most likely be improved dramatically in a very short
period of time with only a modest amount of effort on your
part.
While the
actual work can take very little of your time, it is vital that
you have good information on how to go about it. This is the
bad news; 9 out of 10 courses on restoring your credit will do
nothing more than lead you into a snake pit. This is because
they provide you with out-dated “Boiler Plate” dispute letters
which are rarely effective. These are nothing more than form
letters and… quite frankly (more bad news) the Credit Bureaus
and Creditors will laugh at you if you try to use
them.
Credit repair
services have a very bad name in general, because so many of
them are scams-- some of which charge thousands of dollars and
achieve very little. Some charge hundreds or thousands of
dollars and achieve nothing! You know what? Some
Better Business Bureaus won't even accept credit repair or
credit restoration companies as members!
The Federal
Trade Commission (FTC) says that “Anything a Credit Repair
Clinic can do for you legally, you can do for yourself at
little or no cost.” This is true, but it's not quite the
whole truth. The key element you need for success is the latest
inside techniques and procedures to get the results you want.
These involve strategies known as “Proof of Contract”,
“Constructive Notice”, “Challenge of Procedure” or “Restrictive
Endorsement” and many others.
Sure, you
could, given enough time and good research skills and high
tolerance for wading through a lot of legal mumbo-jumbo, figure
this all out on your own. Remember, though, a bad credit
report can negatively affect many aspects of your financial
life. With something this important, it makes sense to get
help-- and it will save you a lot of time.
The sooner you
get the credit repair process going, the better. So yes,
do it yourself, and save hundreds or thousands of dollars, but
do it with our insider knowledge and expert help. Our
Credit
Secrets Bible, in print for fourteen years and
constantly revised, will teach you everything you need to
know to develop a much-improved credit score.
CreditRepairForBadCredit.com is a project
of Wealth Instead, LLC. The company was founded as a vehicle to
market an Internet-based debt reduction system, although over
time we have started to see it in broader terms around the idea
of credit, debt, and wealth in general.
Source: http://www.CreditRepairForBadCredit.com/The-Truth-About-Bad-Credit-and-Credit-Repair.html
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