If you want to fix your credit score, you might consider investigate a really good credit repair software that will take you inside your credit report. What do I mean by that? How in the world do you go into depth with a credit report?
First of all have you see a credit file lately? Given, they are much better than in the past, but they’re still not very easy to read . My Transunion credit report from two years ago has so much abbreviated coding crammed into modest areas, you literally need brain food a conscious mind set before sitting down with it .
Experian has done much better than in the past . Their FICO credit model is easier to read, but in many cases the report is twenty pages plus . The way they fold and collate the report is confusing. Page two jumps to page 8 and I understood that it can’t be printed all at the same time.
Equifax is similar to Transunion. Their credit report is a tragedy mind boggling set of jumbled characters and codes, devising it impossible for a quick preview . If you spend any time at all with these credit reports, you’ll begin to understand why it is so difficult to maneuver. Any guesses? Maybe this is not a mistake after all.
The Fair Credit Reporting Act, FCRA, was instituted to protect consumers against unjust credit practices. Namely, from credit errors that are rampant among credit reports. The FCRA allows for consumers to dispute errors in their credit file if they are erroneous not reported properly .
That being said, there is a dispute process necessary for this to happen, but what it is crucial to understand is that the credit reporting agencies have thirty days to verify the remark is being reported as proper . They do this by contacting the lender of the account in question and requesting that they check the credit history and make any corrections necessary.
Do you think that if credit reports were simple to read, it would increase drastically the number of dispute letters? Do you think that if consumers knew what the codes really meant they would immediately seize what is right or wrong in their credit file?
That being said , if credit reports were easy to read and you could peruse yours over cereal in the morning , do you think the credit reporting agencies would suffer an onslaught of dispute letters costing them millions of dollars in work related verifications? Remember, they have 30 days to complete any investigation you request.
This is the single most crucial rationality I believe consumers should use a credit repair software. After all, who knows how to go to the fundamentals of a credit report? Do you know all the codes and the terms they use to make this a difficult process ? Do you know where to send a dispute letter ? Do you know how to write an appropriate letter requesting account validations?
The answer is probably not because if you know all this codes, you are not spending adequate time living. Remember, credit reporting agencies are in business to serve lenders . They sell consumer information and have huge data files on consumer habits-what they spend, how much and where they spend money . Do you really believe they are going to make it easy for you or is their allegiance to their customer or to the credit card companies?
Keep in mind that reporting errors cost you money. Every month these higher interest rates dig a little deeper into your pocket. .
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