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Best Credit Repair

Your credit score and your credit report are very important to your financial success. Good credit gone bad? This article will review the pros and cons of credit repair services, how to get the best credit repair, and tips on do it yourself credit repair.

When lenders decide whether or not to give you a loan, they look at your credit score. And even after they decide to give you a loan, they use the information in your credit report to decide what sort of interest rate you will pay. If you have a lower score, your interest rate is higher, and you end up with a more expensive loan. But lenders aren't the only people looking at your credit report. Insurance agents may use your credit score to decide how much you will pay in a premium. Landlords may charge you a higher security deposit if you have a lower credit score. And even some employers decide whether to hire someone with the help of a credit report.

You can see how important it is to maintain the good financial habits that lead to a good credit score and a favorable credit report. However, everyone makes mistakes, and you may not have the credit you would like to have. In such cases, it is possible to pay for credit repair services that can guide you through the process of boosting your credit and having out of date or inaccurate information removed from your credit report.

Credit repair services

Looking for the best credit repair services can be a daunting task. There are a number of Web sites that offer credit repair. Not all of them are reputable. Your best bet is to do some research, and choose a company that is likely to deliver on its promises. You should realize that credit repair is expensive. Most companies charge between 30 and 60 dollars a month while your credit is being repaired. Since it can take anywhere between 30 and 90 days for changes to start to appear in your credit report, it is not uncommon to pay as much as $200 or more for credit repair services.

Watch out for companies that claim to be able to fix your credit in a matter of a few days. This is usually not possible. Also. Watch out for companies that encourage you to change your name or that tell you that you will be added as an authorized user to another account. These practices are not really on the up and up, and crack downs to eliminate them are being employed. You may find yourself with a lower score down the road after these short-term "fixes" wear out.

One of our favorite credit repair services is Lexington Law by Progrexion, click here to find out more about their credit repair services.

Do it yourself credit repair

Perhaps the best credit repair is the repair that you do yourself. In fact, companies that offer credit repair services can't actually do anything for you that you couldn't do for yourself for free. You may have to take a little more time to repair your own credit, but it can save you a great deal of money not to mention give some valuable insight into the way the whole system of credit works.

Here are some things you can do to initiate your own credit repair:

  • Get a copy of your credit reports. You can get one free copy of your credit report each year from annualcreditreport.com. Look at your reports and see if you can find information that is inaccurate or that may have been on there too long. Most things should be removed after five years, some things, like bankruptcies, judgments and foreclosures, can remain on your credit report for as long as ten years.
  • Write the credit bureaus and the reporting company. If you do find inaccuracies, write to the credit bureaus that are reporting it, and to the creditor that provided the information to the credit bureau. Make sure you have documentation to back up your claim. You can also call to speed things along, but ultimately a written record is needed. If there has been an inaccuracy, the credit bureau must remove it from your report.
  • Make payments on time. One of the ways you can improve your credit score is to make all of your payments on time and in full.
  • Pay down debt. One of the things that keeps your credit score lower is high amounts of debt. If you pay down some of your debt, you will see an improvement in your credit score.

The truth is that the best way to improve your credit score is to practice sound financial principles. It will take a couple of months to start to see an improvement in your credit report, but it will come, and you will be glad that you have improved credit through carefully employed credit repair methods.

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