Credit Repair Myths


Credit Repair Myths – They Are All False!

Credit Repair Myths – People who are looking for credit repair myths need only go online and look at the many thousands of articles available on the internet. There’s nothing inaccurate about them because many of them are true! 비대면 대출해주는 곳

However, once you start looking at these so-called myths, you will find that the credit repair myths that you have been told all your life have proven to be nothing but287 of myths.

Credit Repair Myths – Things You Need to Know

There are five basic things you should know about credit repair before you start applying the right procedures to improve your score.

1. You Should Get a Credit Report Every 60 days

It is important for you to know your exact credit standing as shown by the information available in your credit report. You will see how your credit score has improved over time.

You can obtain a free copy of your credit report from each of the three reporting agencies every 60 days. If you want to check on your report every 90 days, then you will have to pay the fee and get a free copy.

There are other ways of checking your credit report like applying for an account with a bank or credit union and you should do it.

2. There Are My Experian, Equifax, and Transunion Credit files

These three bureaus will provide you with credit reports that are essential for you to start improving your credit rating. However, since the law allows you to get one free copy every 12 months, don’t ever pay for your credit score.

Be sure to check if there are errors in the report and if there are any bad entries which you want to dispute.

3. Bankruptcy is the First Option for Credit Repair Help

Bankruptcy has more negative implications than any other method to improve your score. You need to be sure you have taken the right decision.

Chapter 13 bankruptcy would stay with you for around 7 to 10 years. Since so many people file bankruptcy that they automatically lose their eligibility for getting financial help in the future, lenders are not willing to grant any loans in the future.

Chapter 7 bankruptcy makes you free from all your debts but that also means you would lose all of your assets to be sold to pay off your debts. You should not file bankruptcy when you have an option of almost any other method to improve your credit rating.

4. You Need to Get a Credit Card to Raise Your Score

This is not true. Credit should not be your weapon of combat against your score. If you want to improve your score, avoid using your card, stipulate in your cardholder agreement something like using your card only as payment or insurance. By doing this, you are going to reflect a responsible actions towards your score.

5. If the Two Aren’t Working, Get another Credit Card

If your maximum under 21000 you will be filed for a limited credit. Look into getting approved for an unsecured card. If you maintain your credit without using it, then open a savings and checking account and maintain a good amount of checking and savings accounts if possible.

Credit repair is all about the way you look at your financial actions. If you want to make your score better, you will need to use the right actions to make it happen. For more credit repair myths, visit the ‘ forgiveness of debt ‘ or the ‘ a negative credit history ‘ section of the internet.