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by PRC Agency PR

THE STORY BEHIND CREDIT REPAIR

This invention of credit repair has literally been a life-saving thing for millions of folks who were caught up with the flash of credit and the increased power to buy. The redemption is well worth the time, money, and effort that it takes to get a credit report clean—just as if you had never had a problem with debt—and allows you to get on with your life and enjoy financial freedom that you never dreamed was possible.

The best part of the credit repair experience, and the part that makes it work so well, is that it is a good deal for everyone involved. You see, credit cards and other sources of credit make money when people owe them a balance, but only when the person is able to make regular minimum payments on this debt. The sad thing is that there are so many people that became over extended to the point of crippling them so that they couldn’t even make the minimum payment. The loan companies are more than happy in these situations to cut their losses and the original balance back (forgiving some of the finance charge they are owed and allowing the credit repair) because money in the bank makes more money.

So the system allows people to make the credit report look as if they were regular and on time with their payments and allows them to pay back the outstanding balance at rates that will not sink them into oblivion. Credit repair is done through the legal system with representatives making deals on an individual basis so that both parties win and are able to walk away from the situation in better shape and with a better future. The process also requires that the debtor go through some financial training so that the situation won’t repeat itself. Sounds like redemption to me, and I like that sound!

WHAT EVERYONE SHOULD KNOW ABOUT CREDIT REPAIR

Building credit is more imperative now than it has ever been. With bad credit, it is regularly harder to get an apartment, a mortgage loan for a home, or any form of credit loans at all. Just the same, with no credit history at all, it is regularly difficult to get a loan from most banks. As a result, it is critical that your credit rating is secure.

There are numerous ways to create credit, but an improved score is best achieved through repairing credit. Normally, if you are repairing your credit it takes about six months before a good number of banks will allow an individual to ask for a loan. When starting credit repair either for yourself or anyone else, it all begins with the ever important credit report.

Credit Reports

Credit reports are documents that store important information about your credit history. It is critical to keep your credit rating high because this is the avenue for obtaining what you want in life.

The first step is to scope out the report cautiously to see where the problems rest. Software like Credit Repair Cloud makes this step an easy point and click process. If you find any charges on a credit report that looks suspect, simply take measures to generate a dispute. This is only the beginning of a life-changing process that truly makes a difference.

MYTHS ABOUT CREDIT REPAIR

A quick Google search on 'credit repair' shows that there’s a lot of misinformation constantly shared about credit repair. Let’s take a look at some of the most common misstatements and examine them in detail.

MYTH #1

“Credit repair doesn’t work!”

While it’s true that credit repair is more “art” than “science”, it is simply untrue to say that it doesn’t work. If you undertake to repair a bad credit score, there’s never any guarantee you can restore it to “perfect” status. But sometimes it is possible, and in almost every case there is improvement in the credit score-- often major improvement at that!

First of all, credit reports for the most part are filled with errors. While there seems to be no general agreement, it’s estimated that anywhere from 1/3 (Attorney General of NY) to as many as 90% (Charles Givens Organization) of credit reports contain errors.

The all-in-one Credit Repair Cloud software makes this as easy as a point and a click. Removal of erroneous negative information alone will go a great way toward improving your credit score. But there’s more to the story, which brings us to myth #2.

MYTH #2

“Negative information that can be verified cannot be removed”

This is one of those statements that are “almost” true, but taken literally is misleading. As is often the case, the inclusion (or exclusion) of one seemingly small word makes the difference in a truthful statement, and one that’s not (or not necessarily) accurate.

Let’s