Credit repair scares a lot of people, unfortunately, but it shouldnt. A growing number of us is falling further and further behind in our financial positions. Living in a consumer society where shopping is a genuine hobby, easy access to credit, and a constantly improving goods and services all have combined to create the perfect storm.
It is no wonder that many of us have credit problems.
The most well-known solution is professional credit repair. The least-known solution is Do-It-Yourself credit repair.
The credit repair process is very logical and intuitive. Essentially, a person will contact creditors and the major credit reporting agencies (CRAs), or credit bureaus directly instead of going through an intermediary.
First, you need your credit reports from each CRA. Once you have your credit history information you will be able to determine which listings you will dispute. Next, you can contact the creditors to dispute as well.
Communicating directly with creditors and CRAs requires patience, organization, good documentation skills and sample letters. A good do-it-yourself credit repair solution will guide you through all of this.
Our ability to repair our credit rests with the Fair Credit Reporting Act (FCRA). The FCRA gives us rights such as being able to know what is in our credit files, being alerted whenever information in our file has been used against us, being able to ask for our credit score, being able to dispute the information in our credit file, and so on.
The FCRA also sets time guidelines under which the dispute process must operate. For example, if you send in a dispute to a CRA, it must respond within 30 days.
Understanding how straight-forward the credit repair process actually is, along with knowing your rights under the FCRA, makes do-it-yourself credit repair do-able.
Do-it-yourself credit repair will also save you hundreds, even thousands of dollars because access to very good information, such as the credit repair information at MyMoneyHero.com, will cost you less than $100, versus the $400 and up fees charged by the professionals to do the exact same thing for you.
In conclusion, having the right resource, like MyMoneyHero.com, will allow you to improve your credit situation so you can get on the right road to enjoying better credit without having to pay a large fee upfront.
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