Credit Repair: Your Future Starts Now

Setting Priorities

What do you want from life? You can achieve your goals. Success is within your reach. There are just two requirements. First, you must be clear about your goals. Second, you must work towards your goals - everyday. Clarity is essential. If you really want something, your actions must be consistent with your goals. If you want a promotion at work, for example, you might choose to sign up for a night class that will help your career. If you want to get into top physical condition you could start an exercise routine today. Every choice you make today will determine the direction your life will take tomorrow.

Perfect Credit and Financial Freedom

Would you like to have perfect credit? Would you like to say goodbye to financial stress once and for all? I assure you that your goal is within reach, and it is closer than you think. To achieve perfect credit you must be clear about what you want, and you must be willing to work towards your goal – starting now. Clarity of intent means that you are willing to put your goal above other desires. In all endeavors temptations will appear to challenge your resolve; it’s a law of nature, there are always opposing forces. But if you consciously renew your focus every day you will prevail. The first step towards perfect credit is an understanding of the intricacies credit repair. There is more than meets the eye.

The Need for Credit Repair

Credit repair is the essential first step towards perfect credit. Credit repair is incredibly powerful and effective if done right. Many people ignore their credit report after a period of credit damaging financial stress. This is understandable; it can be very uncomfortable to examine derogatory information on your credit report. But there is nothing more important. And as hard as it might be to get started on a credit repair effort, the relief that you will feel once you have taken the first step is fantastic.

The Truth About Credit Repair

Over half of all credit reports contain errors that are serious enough to cause consumers to pay premium interest rates on their loans, or even to be denied for financing. These errors are the result of deficiencies in the checks and balances built into the credit reporting system. You may be surprised to know that there is little that can be done to rectify these deficiencies. There are three credit bureaus. Each bureau manages data files on over two hundred million Americans. Each data file is updated constantly by creditors, collectors, and public record service bureaus. Billions of updates are processed daily. The system is designed to be as efficient as possible given existing constraints, which happen to include self-defined financial limitations of the credit bureaus.

Insult to Injury

In addition to the overall error statistics which are supported by many different independent studies, including a Government Accounting Office “study of studies”, there is another unfortunate and less publicized fact which has made credit repair an essential defensive process for so many people; those with legitimate credit issues are considerably more likely to have errors on their reports than others. The reason is simple. Once an account falls behind or is charged off, it is out of the mainstream and is handled on an exception basis. And even worse, once an account goes to collection it often replicates itself as it is passed from collector to collector, even though it is not legal for a collector to continue to report once they no longer own the debt. It is unfortunate, but the system often generates credit reporting errors for those people who can afford them the least. But it is not all bad news. Once you understand your rights it is not difficult to clear up your credit report and put yourself on the path back to great credit.

Calling a Credit Repair Professional

Effective credit repair requires a working knowledge of the laws that govern the credit bureaus. You cannot get the results you need by simply disputing obvious derogatory items. Most credit reporting errors are compliance errors and may be overlooked by someone that is not trained. It is also important to know how the FICO scoring model operates; many people start a credit repair effort only to discover that their credit scores are falling month after month. Everything on your report has an impact on your credit scores. Success in credit repair will come from a careful balance of actions. If you are going to attempt your own credit repair take the time to read a good book on the subject before you start. If you are a busy person and prefer to turn the job over someone else, you should hire a competent credit repair professional. They will insure that everything possible is done to clean up your credit, optimize your credit scores, and help you reach your goal of perfect credit. Good luck!

Copyright © 2007 James W. Kemish. All Content. All Rights Reserved.