Friday, January 2, 2009

5 Credit Repair Tips

by David Wada

1) if you have a credit score of 677, you are in the same situation as 70% of all Americans. If your credit score rose just 30 points, your family can save, on average, $421 every month or $5,052 every year on house payments, car payments, credits cards, loans, etc.

2) A lot of people ask whether credit repair really works. The simple answer to that is, “Yes, absolutely.” Millions of items have been removed from credit reports, and tens of thousands get deleted every single day (i.e. late payments, collections, bankruptcies, and foreclosures get deleted). A study released by the U.S. Public Interest Research Group in June 2004 found that 79% of the consumer credit reports surveyed contained some kind of error or mistake.

3) Although there are many credit repair companies out there…use caution and avoid being scammed. The Fair Credit Reporting Act guarantees any customer the credit repair process.

4) Also, the credit repair organizations must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign a contract. Unless they give you a written contract that spells out your rights and obligations, assume you are being scammed.

5) Read all documents, and before signing anything.

Know that a credit repair company cannot:

* Mislead you with false claims about their services.

* Charge you unless their promised services is completed.

* Perform any services until they have your signature on a written contract and have completed a three-day waiting period. During this time, you can cancel the contract without paying any fees.

Be sure the contract specifies:

* Payment terms for services and total cost.

* A description of the services down to the itty-bitty details the company will be performing.

* How long it will take to achieve the result.

* 100% guarantees the company offers.

* Company title, phone number and business address.

Call today for a free credit analysis!

At Credit Restoration Associates, we pride ourselves on providing the highest quality of credit repair service, while maintaining the ethics and integrity required. By strictly adhering to the standards and practices outlined by the Federal Trade Commission we can offer our clients the very best service and still provide Low Cost solutions.

VISIT THE CREDIT RESTORATION ASSOCIATES WEBSITE:

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1 comment:

faisal said...

Hi

I think these tips are so better for our knowledge about credit. There are so many other informations about credit and plastic business card is giving so better informations credit.