Credit Repair

Credit Score Repair with Integrity and Legal Authority

Rent-to-Own is my main business. Most of the people who contact me about Rent-to-Own have temporary low-credit score problems. In this article I will give a bit of information that should help to show the difference between good credit repair programs and the scams that can waste time and money.

For the past three months, I have been checking out many of the credit repair products and services. I was disappointed to find that so few of them were built around a reputable law firm that would be honest and straightforward with their clients. If you have experience with credit repair and counseling services, please contact me and let''s talk about your experience.

Much of the content in this article comes from my own research on credit repair. Therefore, not all of it may always be true for every circumstance, but I've done my best to make it sensible and useful.

Basic Facts
Almost every time you get credit from a business, whether a loan of money or a credit card or credit towards the purchase of something, that event is registered at the three main credit reporting companies. Those three companies, Equifax, Trans Union, and Experian, make money by selling credit information on US residents. That credit information, presented as your credit report, shows lenders how much risk they are taking if they give credit to you. Here is a place to get a free credit score report.

A credit report can present your "credit risk score" as a number in one of three levels:
a high score (750 to 850), a medium score (650-750), and a low score (between 300 and 650).
A high score allows you to get credit easily. A low score keeps you from getting much credit, and the credit you might be able to get will have a very high cost, measured by the interest rate that you will be charged.

For example, if you are able to get loans to buy a house, a high score may pay for the loan with 7% interest; a low score may pay 11% interest. That can amount to more than $250 extra dollars in mortgage payments each month on a $50,000 house.

Your Credit Score
Late payments, missed payments, incorrect or partial payments, how much credit card debt you carry, and sometimes, there are mistakes put into the system. In fact, one credit repair company claims that as much as two-thirds of all data entered contains mistakes. Your credit history may still be affected by payment issues long ago in your past. And old or incorrect data does not have to be removed or checked or verified.

Changing Your Credit Score: For specific recommendations, see the rest of the article at heart of dixie real estate (heart-dixie)

Wishing you a higher credit score,

P.S.: You may have friends or clients that could use credit help. Send them to this page. Maybe it will be helpful or encouraging to them!

This is not presented as legal advice, and I suggest that for accurate and reliable legal information, you discuss legal matters with several different legal professionals.

Jon Gresham, Ph.D.
Heart of Dixie Real Estate and CivilSocietyBlog

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