Credit Repair and Credit Card Repair – What are the First Steps to Repairing My Own Credit History?

Credit repair agencies often say they can remove bad credit from your credit report, legally. This isn’t true. No one can. Simply don’t believe them. Do your own research.

The law entitles you to be able to ask for an investigation of information in your credit file to is considered to be inaccurate or incomplete, or misleading. This is a free service. Indeed anything a credit repair company can do for you, you can actually do for free or little to no charge yourself. So why not do it yourself?

The Fair Credit Reporting Act (FCRA) states that:

o You are entitled to get a free report if any company refuses you credit such as a loan, credit card, mortgage, etc. as long as you ask for the report within 60 days of the decision against you. If you are unemployed you are also allowed to apply for one free view of your credit report. This also applies if you are on welfare, or if because of fraud or ID theft your report is inaccurate.

o Each of the three national consumer reporting companies is required to provide you with a free copy of your report once every 12 months. These three companies are Equifax, Experian and TransUnion. You ca order your report from a central website by downloading this form ftc.gov/bcp/conline/edcams/credit/ and sending it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The telephone number is: 1-877-322-8228. You may order one report from each of the three companies in the same application, for no charge.

o Also without charge, you can identify and dispute mistakes or out-of-date items in your report. Once more, under the FCRA, both the consumer reporting company and the information provider (that being the organization, company, or person that gives information about you to the consumer reporting company) have the responsibility to correct information in your credit report that is wrong or incomplete. Contact these companies to take full advantage of your rights under the FCRA law.

Once you have followed these simple but highly effective procedures you will be much the wiser about why you may not be getting the credit you deserve. And, even better, while a credit repair company might charge you, you can get these services at no charge if you make the enquiries yourself.

Good luck!

Consolidate Credit Card Debt Quickly – Get the Help You Need to Cure Your Debt This Year!

Life as a debtor may be accompanied by feelings of misery and hopelessness. However, there are things which you may do to break free of the bonds. It is possible to consolidate credit card debt, but you must demonstrate your desire and dedication to a plan of wiping out those unwelcome debts.

Consolidating credit cards may ease the stress of your life as you are able to methodically pay down your debt, making your situation more conducive to settlement. Dealing with the payments of several accounts concurrently can be hard to keep up with and result in quite a headache. But if you will prioritize and sort the cards by their interest rates, you should be able to get out from under your debt.

The high balances with high rates of interest are the main factors in preventing your reducing the amounts that you owe. And overlooking a due date just makes matters worse. The consolidation of all your unsecured debt into one account may be the most reasonable move in breaking the shackles of your debt. Unsecured debt includes any account which you have that involves no collateral, such as credit cards, utility bills, medical bills, personal loans, store cards and lines of credit.

But there are people who worry that by reducing their debt they will produce an adverse effect upon their credit score. The process by which you consolidate credit card debt merely involves taking out a loan, the proceeds of which are used to pay your other accounts in full. Then you simply have one monthly payment to be concerned with. And a consolidated account will normally carry a lesser rate of interest than a regular loan, which makes its balance reduction much easier to accomplish.

Depending upon their expertise, a majority of the debt consolidation businesses are capable of achieving a reduction of from 50% to 80% in your overall balance. But will consolidating credit cards have a negative effect upon your credit score? As the consolidated account is structured to pay your existing accounts in full, it is therefore assumed that you have settled them fully.

There will be no negative effect upon your credit score and, in truth, your rating should be enhanced. So, by consolidating your various bills into one account, you have the chance to enhance your FICO score and obtain a loan with a more favorable rate of interest.

Various measures are available to you to when you are thinking about how to consolidate credit card debt and become debt free. There is professional help available which you can get from responsible firms whose business it is to assist you in developing a plan on becoming debt free.

Credit Card Debt Consolidation Help and Guide

These days’ people are opting for one or the other loan types for fulfilling their requirements of acquiring the maximum amount of comfort in their daily lifestyle. Various types of loans are available in the market one of which is the credit card. A person is given a card from a bank on the basis of which the person can take a specific amount of debt from that bank at the time of spending money through that card and pay the amount back to the bank later on. Credit cards relieves the people from worrying about the huge amount of money they would carry along with them at the time of shopping or any other occasion which requires spending a lot of money. They just have to carry their credit card in order to pay the bill. But everyone cannot afford to have a credit card debt and hence a lot of people in this world are buried under the heavy loads of credit card debts which they are not able to pay from their regular income.

For those people there are credit card debt help and solutions provided by many crediting companies and banks so that their credit card debt can be returned easily without affecting their normal life by either lowering the rate of interest of the debt or by lowering the amount of the monthly installment of the person. The credit card debt help provided by these companies is either in the form of debt consolidation loans or debt negotiation services. This make the debtor feels safer and half of his worries are gone by knowing that these kinds of services are available to lighten the burden of his credit card debt. Generally, a credit card consolidation loan is given as a home equity loan which has very low rates of interest as compared to that of normal credit card loans.

The funding of the credit card consolidation loans is very limited and hence the companies provide these loans to the common people on a first come first served basis. Moreover, these loans first require a debt counseling in which the company gets to know about the debt of the debtor and they provide the person with a consolidation loan in accordance to his debt only. The company which provides the loan first makes contact with the creditor and then only provides the person with the consolidation loan.