Wisdom is the right use of knowledge. Charles Spurgeon
Credit Repair Lesson
Is your credit score keeping you from owning a home or buying a second car? Have you been turned down for a military or security based job because of trouble with your credit score?
Every person has the right to access their credit report once a year and you should make sure that all the information on your credit report is accurate. If your Credit Report is inaccurate, you can become knowledgeable about what your Credit Report is and how you can fix any errors.
Corey Gray, Founder and CEO of Credit Assistance Network gives a candid 45 minute lesson on understanding credit:
- 79% of credit reports are incorrect and errors by other people.
- Duplicate accounts, inflated balances from the collection agencies (sometimes inflate a balance)
- 61M Americans have FICO 350 or 640 which range from 300 -840. If you do,
- 33M Americans don’t have enough credit to even have a Credit Score,
- Most people don’t know their credit score or even know where to get their Credit Score
Corey talks about what can affect your credit score:
- Inaccuracies or errors in your credit report
- Questionable information that you have the consumer federal law to be able to dispute
- Inflated balances of the actual debt that collection agencies may inflate
- If you go for a car loan and the auto dealer may pull a letter from the credit company and also ask their other partners or car dealers about your credit and it leads to excessive enquires to Credit Company affects your Credit Score
Corey then goes on and gives a lesson about the anatomy of a credit report and how to make sure you can help make a good credit report. Over an hour of wealth of credit repair knowledge on how to repair your credit score in this lesson, a total AAA , free lesson on Youtube about Credit Repair!
Credit Reports Can Affect Your Relationship
Blair Warner, Credit Coach of www.upgradmycredit.com was interviewed in May 2014 about Credit Repair and is it the answer to your Credit Problems?
Blair talked about how sometimes couples aren’t aware of each others credit score and how it can impact their relationship and how inaccuracies in Credit Report that affect your Credit Score can be removed. Some of the other topics that can be affected by Credit Score are discussed on http://www.Upgrademycredit.com/categories
- What is a mortgage pre-approval?-October 7, 2014
- FICO makes needed Improvements to their Credit Score – August 8, 2014
- 6 Credit Tips to remember when buying a house – July 11, 2014
- How not to improve your credit score – May 9, 2014
ABC’s of Credit and Credit Repair
Latoya Irby, Credit/Debt Management Expert of Credit.about.com has over 32 articles on Credit Report and Scoring including:
However, as always in a positive mode especially when it comes to credit repair, Latoya Irby has an article
From the basics of :
1. Get a copy of your credit report
2. Dispute a credit report error
3. Avoid new credit card purchases
4. Pay off a past due balance
5. Avoid a new credit card application
6. Leave (credit card ) accounts open especially those with balances
7. Make contact with your creditors
8. Pay off a debt
9. Get professional help
10. Be patient and persistent
For me, I would say Number 10 , “be patient and persistent” would be the hardest . The stress of knowing your credit is damaged and that it can affect all aspects of your life as you contact creditors and banks and fix errors. However her idea that good credit will take time to re-build so be patient and having the knowledge from these Credit Repair experts can help reduce the stress. The simple lesson from these experts in this Guide is “Knowledge is wisdom” and learning about what your Credit Score is and how you can repair it will help in reducing the stress of debt.