-by Terry Price
(C) Copyright Terry Price
All Rights Reserved
Have you ever wondered what companiessend you when they claim you can erasebad credit overnight? How about thoseads that say you can get any majorcreditcard without a deposit or a creditcheck?
Ads abound almost everywherethese days (online and off) sellingbooks, systems and secrets tohelp you fix your credit. Manyof these programs have claimswhich read like the covers ofsupermarket tabloids:
"In 3hrs my credit score jumpedfrom 580 to 676!"...
"Erase bad credit and smash yourdebts with just 2 Magic Letters!".
Are these types of claims ALWAYStoo good to be true? The answer is"Yes and... no".
While many people would love foryou to believe the only thing thatcan fix bad credit is time; inreality... nothing could be furtherfrom the truth. The fact is, timeis only one factor which can fixa credit report, but it's a far cryfrom being the only factor. Howcan I back this up? Easy.
Under a consumer protection lawknown as the Fair Credit ReportingAct (a.k.a. the FCRA) the onlynegative information which canremain on your credit report isnot what is accurate... but whatcan be proved as accurate underthe FCRA. What's this meanto you?
It means any negative item onyour credit report can only remainthere if it is accurate and CANBE PROVED AS SUCH under theguidelines of the FCRA. Thisundisputable fact presentsconsumers with both goodnews and bad news.
The good news is that throughthe FCRA your credit score canmost likely be improved dramaticallyin a very short period of time withonly a modest amount of effort onyour part.
The bad news is that while the actual "work" will take very littleof your time, it is vital that youhave good information on "how"to go about it. This is the badnews; 9 out of 10 courses onrestoring your credit will do nothingmore than lead you into snakepits because they will provideyou with what the industry refersto as "Boiler Plate" dispute letters.These are nothing more than formletters and... quite frankly (morebad news) the Credit Bureaus andCreditors will laugh at you if youtry to use them.
While I agree with the Federal TradeCommission (FTC) that "Anything aCredit Repair Clinic can do for youlegally, you can do for yourself atlittle or not cost"... the key elementyou need for success is the latestinside techniques and proceduresto get the results you want. Thisinvolves strategies such as "Proofof Contract", "Constructive Notice","Challenge of Procedure" or"Restrictive Endorsement" and manyothers.
All these terms may "sound" impressivebut they are really quite simple. Intheend, it is nothing more than a methodof communication which exercises yourconsumer protection rights, gets theresults you want and raises your creditscore. Even more impressive, once youlearn how simple it can be by doing itforyourself, you will find there is afortuneto be made doing it for others! Eitherway, it all starts by requesting a freecopy of your credit report here:
http://www.AnnualCreditReport.com
In the next segment we'll talk about:
"Is Your Credit Score CostingYou A Fortune
The "CREDIT SECRETS BIBLE" has been in print since 1994 and is published by Consumer Publishing Group.For more information on the "CREDIT SECRETS BIBLE" you may visit:
http://tinyurl.com/2rgyht
