A utopian Dream Credit
In a perfect world, would credit offices never err. Billions of pieces of data they each process is related to more than two hundred million Americans would all Click right in place.When you examined your credit report that would never be a mistake, And there would be no. use of credit repair.
Facts of life
Real life credit repair is the only way to assure a healthy credit report.The credit bureaus do an admirable work. it is no small task to coordinate the massive amount of information from the millions of creditors and collectors, not to mention the public records collected through courthouse sources. but the system is far from perfect. Error is constant, and they are expensive.
An example
The real problem with reporting error is the terrible impact they can have on their victim. here is an example of a common and costly error, now resolved by credit repair.A woman reviewed report credit and found five acquires all reporting the same debt.She defaulted on its debt to a number of years ago, originally felt that derogatory accounts was her destiny. not so.
A data collector set up arrows
The woman is ignored root on his report for a long time, but after the investigation discovered that only one collector can report a debt at a time. Collectors is expected to terminate credit reports accounts when they sell a debt and debt sale. is a normal part of the collection of business, and as collectors typically negligent in their reporting compliance, collection of accounts piling up often.
Credit Repair Solution
A single round of credit repair dispute of letters to credit offices resolved the issue.All of the prior purchasers simply withdrew their accounts when challenged; all passed. a rapid control of her FICO scores showed that her scores as a result, increased by close to 100 points.It was a happy moment, but the extent of her score rebound brought a horrific fact home to roost.
Real Cost
She had ignored the existence of these invalid collections in nearly three years.During this period she had lived with the conviction that she was a subprime borrower.She had bought a home and a car in this period, and passively accepted the higher interest rates offered its lenders.And to make it even worse, two of her credit card companies raised her rates raised and lowered her borders.The cost of errors was significant.
The good news
The good news is that the error was caught, and the purpose of the credit repair was met. Truth was dour, but it is better to solve a problem, to let it linger. Woman quickly for refinancing with both his home and car and soon pay five-hundred dollars less each month, credit card companies would not budge., so the story continues, but every day is much lighter.
Moral of the story
Do not take anything for granted. credit reporting is as common as dirt and can be costly. just as the woman above commit for many people the error to believe that the bad credit is their karmic burden. you may have to live with the consequences of your mistakes, but you should not have to pay for others ' mistakes. do you have credit repair errors? Shine light on your reports today.
Copyright © 2010 Sky Blue Credit Repair. all content. all rights reserved.
No comments:
Post a Comment