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

Check it out. Do not waste “one penny” on any service that claims that they can restore your credit for you. That’s because if you have any bad credit on your reports that is “legitimate” then you are stuck with it. However notice the word legitimate.

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 Final “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 All Too Common

The days when credit agencies can get away with a mistake on your credit report are gone. Learn the simple ways of challenging negative tiicks and use them if you find any mistakes like that. Trust me! Credit reporting mistakes are no stranger to credit reports.

Credit Cards – Good or bad. Both

In the end though, after you have done all that you can in that area, credit repair for the most part comes down to building new credit to counterbalance any bad credit you may have. Credit cards are a double edged sword. They are great for building good credit but in the wrong hands, they can also quickly trash a persons credit.

Posted on 22 September '09, under Business.