Credit repair helps you improve your bad credit and improve your score so that you can improve on your finances.
Many of us borrow money, take loans for various needs, and pay monthly instalments. However, sometimes we go through bad economic times and our entire financial planning goes for a toss. Be it personal credit or business credit, poor finances will spoil your credit score and this will show up in your credit report. However, this does not mean an end to your finances. If you wish to keep yourself eligible for loans and insurance you need to repair your bad credit. A good score will open up many new opportunities for you, employment and even promotion. If you wish to start your business, your good score will help you to get financial support for your business. There are many agencies that work for you and help you to get a better score, however, these are external bodies. The way in which you understand your business issues or credit problems, an external agency may not be able to understand. To help you with this we have listed down a few points that will help you to do it yourself.
Many agencies dupe you and make many fake promises. But you must understand that whatever the agency can do for you, you can do the same for yourself. An external agency will only get a copy of your report from one of the three agencies – TransUnion, Experian or Equifax . After getting the copy, the agency will then check the report for accuracy. 90% of reports have incorrect scores because of mistakes in data, someone else’s debts showing up in your report, etc.After thorough checkup, they apply for getting these mistakes rectified and this in turn improves your credit score.
The other method of improving your score, is closing all your accounts and keeping only one account active. You need to clear your debts on this account and when you keep clearing the debts your score starts improving.
In this way credit repair is no big science or logic. Understand it, learn it and do it yourself.
Many agencies dupe you and make many fake promises. But you must understand that whatever the agency can do for you, you can do the same for yourself. An external agency will only get a copy of your report from one of the three agencies – TransUnion, Experian or Equifax . After getting the copy, the agency will then check the report for accuracy. 90% of reports have incorrect scores because of mistakes in data, someone else’s debts showing up in your report, etc.After thorough checkup, they apply for getting these mistakes rectified and this in turn improves your credit score.
The other method of improving your score, is closing all your accounts and keeping only one account active. You need to clear your debts on this account and when you keep clearing the debts your score starts improving.
In this way credit repair is no big science or logic. Understand it, learn it and do it yourself.
