How to Repair Your Own Credit?

Jan. 10, 2012 - PRLog -- How to Repair Your Own Credit?
Capital Credit Advisor
Samuel Bennett
1/10/2012


Many Americans have bad credit, even though the term is relative we could say that any credit score below 650 is considered below average.  Looking at a score in the 600 hundreds many creditors will still grant you credit, however this would give them room to charge higher interest rates and fees.  The three credit reporting agencies, TransUnion, Equifax, and Experian are the data collectors of the credit information for all Americans.  The three bureaus are private companies with shareholders, which mean their main objective is turning a profit.  They do this by selling your information to creditors and marketers who are looking for you to buy or own their products.  If the creditors are looking for consumers with bad credit, and average credit scores the credit bureaus will supply them with the necessary data.  Many times because the 3 credit bureaus have conflicting information, people usually discover this when they are trying to repair their credit , technically if all 3 bureaus aren't showing the same information then the information should be deleted, but that theory is left open for discussion.  There are many credit repair companies that charge a fee to help repair your credit credit, I would suggest that you do your research before choosing a credit repair company.  The Federal Trade Commission has put new laws into place to protect consumers from the bad credit repair companies that are looking to take advantage of consumers.  Many choose to repair their own credit themselves, if you choose this method I recommend that you use Microsoft Excel, you should also use a color coding method to keep track of disputed, and deleted items on your credit report. Many people choose to Bankruptcy as an alternative, this method will put your credit on freeze for about 10 years.  It can also affect the descion making process in you getting a job, especially in the financial field.  Please through caution to the wind when considering bankruptcy.  You may want to consider getting a professional consultation from a certified financial planner.  For credit repair letters go to www.capitalcreditadvisor.com.

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Capital Credit Advisors will look at ways at how consumers can repair their credit reports wit the three credit reporting agencies.