Seven Things Nobody Told You About Credit Restoration.

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Seven Things Nobody Told You About Credit
Restoration.
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1.Credit bureaus have unlimited power

• For the uninitiated, credit restoration refers to
  the process of improving ones credit scores
  after something like bankruptcy or foreclosure
  has caused them to plummet into the
  less-than-stellar territory. Unfortunately, it
  can be difficult to get quality information about
  credit restoration from reliable sources due to
  misleading information and bad advice from
  companies that make money off of selling
  expensive credit restoration services. Today
  were going to look at some of the most common
  myths about credit restoration and explain why
  they just dont hold water.

Its no secret that credit bureaus have a lot of
power when it comes to your financial life, but
what you might not know is that they can be held
liable for things like falsely reporting
incorrect information, or purposely being slow in
getting information updated on time. In other
words, credit bureaus are like little angels to
lenders if something isnt working as it should,
take your complaint to a different level of
authority and see if you can bring about change.
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2.All your information goes into one report

• If all else fails, you could always consider
  taking legal action against them through one of
  many class-action lawsuits that are active at any
  given time in America today though doing so is
  by no means easy or cheap.

Contrary to popular belief, debt settlement is a
terrible idea for an average American trying to
improve their credit score. Debt settlement
companies are often little more than scams that
take your money with no guarantee of any results
or refund. With a little self-education and some
patience, youll be able to handle your credit
issues on your own in no timeand save yourself a
ton of cash in the process!
3.Dont hire an attorney right away
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• If you think its necessary to hire an attorney
  immediately after a black mark hits your credit
  report, there are some things you should know
  first An attorney will probably cost thousands
  of dollars, even if they end up getting your case
  dismissed or withdrawn and depending on how long
  ago your mistake happened, it may not be worth
  trying to repair your record anymoreespecially
  if its been more than seven years since you made
  a major error on your report. As tempting as
  hiring an attorney is, follow these steps first.
  See if one of them helps resolve your issue
  before paying someone else to get involved in
  such a personal matter. Credit bureaus value
  customers that can prove their identity, so try
  one (or all) of these methods before jumping into
  action Get a credit freeze Credit freezes can
  help protect you from identity theft for about
  10-20 per bureau per year. Its free at Equifax
  and TransUnion in certain states like Texas,
  Michigan, Connecticut, and California for
  everyone. Add additional security features to
  accounts Many creditors offer additional
  features (like call centers) that add extra
  layers of security between yourself and
  fraudulent activity from happening again.

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4.The debt settlement companies that call you are
scammers

• True, unless you want to give up your money for
  nothing in return. Instead of signing with a debt
  settlement company, consider trying to negotiate
  directly with your creditorsyou might be
  surprised at how much theyre willing to knock
  off your balance when you offer to pay in full.
  If that sounds like too much effort, try calling
  them yourself instead of letting another company
  do it for you. Creditors would rather hear from
  you than have a third party call and haggle on
  your behalf, but even if they wont cut you any
  deals face-to-face, being knowledgeable about
  whats available and discussing your options will
  give you an advantage next time someone calls
  offering debt consolidation or credit repair
  services.

5.These companies want to take as much of your
money as possible
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• A lot of these credit restoration companies are
  out to make a quick buck off your desperation for
  an easier life. They will promise you that they
  have a way of fixing your credit, but then only
  give you a short time to pay their exorbitant
  fees.

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6.There is no quick fix

• If you do not pay those exorbitant fees, they
  will pull back on their service and ultimately
  leave you in your difficult situation with even
  less hope than before you hired them. The best
  thing to do is avoid any services like these
  altogether instead, look into ways where other
  people have helped themselves by restoring their
  credit report and take advantage of that
  knowledge as well rather than paying someone else
  who has no incentive to help you whatsoever.
  These people could care less about helping you,
  only making money off of you. Its more important
  than ever to check up on yourself and work hard
  towards getting ahead rather than fall victim to
  another person trying to profit from your
  misfortune. Be smart! Be safe!

Get a copy of your credit report and score from
each of three agencies (experts say at least).
Look for errors or inaccuracies and dispute them
with that agencys bureau, says Consumer Action.
Some mistakes can be easily fixed by you for
example, if someone stole your identity and
opened an account in your name, contact creditors
to let them know it were not you who opened that
account.
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• Dont believe it when a company claims they will
  help with removing negative information from your
  report if you sign up todayit doesnt work that
  way. It takes time.
• In general, dont pay money upfront to get help
  repairing your credit. Credit repair companies
  must register with state authorities and follow
  their rules regarding fees and disclosures, but
  there are still rip-offs out there so take care
  when choosing a credit repair firm.
• If youre offered debt consolidation to pay off
  multiple debts at one time using another
  loanbeware! You may be better off just paying
  more toward what you owe, Henderson says.
  Consolidation should always provide some sort of
  economic benefit.
• While no amount of credit repair is going to hurt
  your credit rating once you have paid all bills
  on time consistently, credit repair is only legal
  during the year leading up to a mortgage
  application.
• Keep copies of everything related to fixing any
  credit problems, including correspondence with
  creditors and proof that payments were made. This
  will help any future creditor or lender see
  youve been proactive about improving your
  financial situation by turning things around.

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7.Here are some things you can do on your own

• Credit bureaus do make mistakes and if yours has,
  fight back to correct it. Many states require
  these credit bureaus to investigate disputes
  before taking action against you.
• Take advantage of your rights under Fair Credit
  Reporting Act(FCRA) even if your dispute isnt
  resolved immediately. That might mean writing
  letters directly to credit bureaus or even small
  claims court in extreme cases.

Verify your identity Enroll in a
credit-monitoring service and check your credit
reports for inaccuracies Shred old documents
that contain personal information like Social
Security numbers, bank account numbers, etc.
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• Freeze your credit reports at each of three major
  bureaus, which prevents potential creditors from
  gaining access to them without permission
  Monitor your accounts for fraudulent charges and
  activity contact any company immediately if you
  notice anything strange Consider signing up for
  an individual security program (IPSP), like one
  offered by Experian or Equifax, or a similar
  service through TransUnion or Innovis Credit
  Union. These services monitor your account on an
  ongoing basis and provide another layer of
  protection against fraud. They have their
  drawbacks but are still worth considering. Once
  youve cleaned things up as much as possible,
  its time to address what happened.

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Contact Us

• Address - 3409 Chandler Pkwy Bellingham, WA 98226
• Phone - 360-312-7164
• Email - info_at_whatcomcreditrestoration.com
• Website - https//whatcomcreditrestoration.com/
• Blog - https//whatcomcreditrestoration.com/seven-
  things-nobody-told-you-about-credit-restoration/