Do You Really Need A Credit Repair Kit?
by Tim Beachum
As you sit there reading this article thieves are literally pickpocketing you. On top of that you are being lied to, and robbed without a gun. You may not realize this because you are so use to living with it – your bank is over charging you, there credit bureaus are telling you one thing while doing another, and whatever interest rate you are paying I can guarantee you that you are over paying. Read every word of this article from start to finish, and I will break down the credit repair process and explain how you can get started today.
A wise man once said that you cannot solve a problem if you do not understand the problem. The same applies to repairing your credit. You cannot repair your credit if you do not understand how the system works. Forget about all the lies that the media has told you about the credit bureaus, and they can help you. Take a look at it form a business perspective – the credit bureaus make money by selling your information to other businesses. To put it simply it is more beneficial to them that you have bad credit. I think that it is pretty obvious that the bureaus main concern it making a profit.
There is another fact that you will need to wrap your brain around and that is this… You didn’t destroy your credit overnight and you shouldn’t expect to repair it overnight. In the majority of cases you will be able to rectify your credit problems in 60-90 days. That is not to say that there are not some outstanding circumstances i.e. bankruptcies, government loans, etc… If you have those type of dings on your credit report it may take a little longer to clear up. Those type of agencies are fast to report negative results, but slow at helping you fix them.
You will want to start the credit repair process by requesting all three of your credit reports from all three of the bureaus. You are entitled by law to a free copy of your credit report annually. With all three credit reports in hand you will want to closely scrutinize it for any errors. Most people take for granted that the correct spelling of their name and address isn’t important. The truth is it could mean anywhere from a 25 to 50 point difference in your credit score.
Understanding your credit report once you actually have it in hand is one of the most important part of the credit repair process. You will find a a ton of abbreviations on your credit report and mysteriously there are little to no explanations as to what they mean. Most decent credit repair kits will come with some sort of key that will explain all of those nasty little abbreviations.
Once you have identified all the dings on your report it’s time to prepare for the battle. You want to send a letter of dispute – disputing every single thing no matter how big or small, that you have found. Make sure to make copies for your records, in fact make copies of everything that you do, and I do mean everything.
Once you have mailed your letters of dispute the count down officially starts. The credit bureaus legally have 30 to 45 days to complete their investigations regarding your claims. If they cannot disprove your claims within the allotted amount of time, the are required by law to remove the dings from the credit report.
If you want to learn more about repairing your credit or your ready to take immediate action you can start with this credit repair kit.