If you are hopelessly in debt, or simply dealing with a bad credit report, you need credit report repair. Let’s deal with areas of credit report repair separately. Your financial condition will only get worse unless you become proactive in protecting and/or rebuilding your credit standing.
If debt is the problem, credit report repair begins with getting the debt under control, and then we can clean up the credit report. Mortgages and personal loans are not the only places you will pay for needing credit report repair. In many cases, those with bad credit are denied housing, utilities and insurance. You must stop the financial hemorrhaging; take control. A persistent history of missing credit card payments could also impact your job prospects, as some employers check the credit rating of applicants.
It should go without saying, for credit repair, you must have household income. You must find and/or keep the most suitable employment. You may need to work two jobs. You might consider selling anything you don’t really need, especially if you are paying to have it stored. Live within your means – don’t spend more than you bring home.
The first step to take in credit report repair is to pay off or settle as many outstanding debts as possible. Then, reduce, and keep, your balance on all revolving credit accounts to below 45% of your gross earnings. This will demonstrate that you do not live on credit, and have planned for possible unforeseen needs of that available credit.
Once you have taken the above steps to reduce debt, it is time to start credit report repair. We are often asked, “How can I fix my credit, and raise my credit score?” Under the Fair Credit Reporting Act, you can dispute information in your credit files with the three credit bureaus, and the creditor is required by law to verify the disputed information. That which can’t be verified within 30 days must be removed. While credit report repair can be a do-it-yourself project, it is time consuming and tedious. Do-it-yourself credit report repair is like repairing your own transmission or representing yourself in court; it is possible, but you must decide if you’re willing to take the time and assume the risks of doing it yourself. RMCN Credit Services specializes in credit report repair, restoration and education.
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