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Credit Repair: Say Hello To The New You!

Let's get Started! Did you know that millions of consumers are paying higher interest rates than they should due to errors on their credit report? Credit repair expert Jim Kemish discusses the importance of a regular credit review and repair strategy. Credit Report Errors The credit reporting industry is far from perfect. And yet your entire financial life depends on the content of your credit report. Two-hundred million consumers have credit records with the three major credit bureaus. Over one-hundred and fifty million of these consumers have errors on their reports. The potential impact of these errors is tremendous.

Virtually all lenders, from mortgage lenders to auto finance companies will determine your interest rate based on your credit scores. Even minor errors may have a major impact on your credit score; this can translate into higher payments on every dollar that you borrow. A Dramatic Impact Don't throw your money away. If there are errors on your credit report you may be paying hundreds of extra dollars every month unnecessarily. Stop it! You have more control over the situation than you think.

The legislation governing the credit reporting industry is there to protect you. The Fair Credit Reporting Act (FCRA) and its 2003 amendment, the Fair and Accurate Credit Transactions Act (FACTA) provide procedures for correcting errors on your report. A good credit repair company can harness those laws to make sure that you are not throwing your money away needlessly. Your credit scores should never be allowed to reflect the presence of errors. But itís up to you to take action. Get Your Credit Reports The legislation enacted to protect you from potentially life altering errors on your credit report requires that the three major credit bureaus allow you access to your credit report once per year for free. The website mandated by the government for this purpose is http://AnnualCreditReport.com. This is the only site set up for this purpose. Use it! Do you work for a living? Would you like to have more money left over each month? Would you like to build your savings? Donít let your money slip away! Make the effort to insure that every error is removed from your report.

A credit repair professional can help you identify all of the issues that can have a negative impact on your score. Give Yourself the Benefit of the Doubt So, maybe you have made mistakes in the past. Most people have. That is not an excuse to ignore your credit report. Too many people are embarrassed about past mistakes and afraid to look at their credit reports. Donít hide! It will only compound the problem and increase the impact on your financial life. Take a deep breath and do whatever is necessary. Get your reports. Review every line of information. Look at the neutral information too.

Misreported neutral information, such as account opening dates and high credit limits can easily depress your scores. I advise you to speak to a credit repair expert for help analyzing your credit reports. Itís your life. Itís your money. Nothing on your credit report should be neglected. You Will Feel So Good There is nothing like the feeling that comes from knowing that you are doing the right thing for yourself. You can have that feeling right now. Start the credit repair process and the results will come before you know it. As your credit scores improve you will have the opportunity to refinance the high rate loans that you currently have. The amount of money that you can save by reducing the interest rates on your mortgage, auto loans, and credit cards can be dramatic.

If you can save $500 each month and deposit it into a savings account earning 5% annually you will accumulate $77,000 in only 10 years. Think about it. You are on Your Way Once your credit repair program is underway it becomes easier and easier to stay ahead. As your score improves, and you are able to lower the interest rates on your debt, your budget will ease up. You will soon develop a financial cushion that will make it possible to meet your monthly obligations even when unexpected expenses arise. Itís time to say hello to the new you! Copyright © 2007 James W. Kemish. All Content. All Rights Reserved.


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