As you know, countless people are being hurt by the economy and are turned loose with nothing but terrible credit. The worst thing is that they will keep this bad credit when the economy turns around and the are left to fend for themselves. Good Luck.
Only Frauds Claim They Can Get Rid of Bankruptcy
Don’t spend a dime on some service that tells you they can wholly restore your credit. Credit restoration isn’t for everyone and if you have a bankruptcy, it’s not going away for about seven years. Any “legit” bad credit on your report is there to stay.
The First Step To Credit Repair
The first thing that you need to do is to get your hands on all your credit report from each of the three bureaus. As long as you don’t request the credit score, it’s free. Credit scores are about 8 bucks
Seven Years Past the Last “Action” On An Report
Understand that bad credit other than bankruptcies and such can stay on your credit fro a period of time no longer than seven years (beyond the last “action”) that was made on the account. Get it? Seven years after your final payment on that account, not seven years after the negative report flagged.
Credit Reporting Errors are Very Commonplace
The days when credit bureaus can get away with a mistake on your credit report are lost and gone. Learn the simple methods to challenge negative marks and use them if you come across any mistakes like that. Really! Credit reporting mistakes are no stranger to many.
Credit Cards – Both Good and Bad
Finally, after you have done what you can in these few areas, credit repair comes down to building new credit and replacing bad credit. Credit cards are a good and bad because they are great for building credit but if used wrong, they can also quickly kill a persons credit.
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