The Importance of Credit Repair

1
(No Transcript)
2
The Importance of Credit Repair

• A credit score plays an important role in many
  aspects of your life, including your finances and
  your ability to get approved for loans and other
  financing options. If you have low credit,
  however, you may have trouble getting approved.
  If your credit score is in the low 600s, youll
  likely need to consider credit repair if you want
  to be able to apply for new lines of credit and
  improve your overall financial situation. This
  article covers some of the basics of credit
  repair and explains why its an important
  consideration if you have low credit scores.

3
1 Deleted Records

• The importance of having your criminal records
  deleted cant be overstated, especially if youre
  trying to find a job or get credit. Anyone can
  have their records expunged, though some actions
  are easier than others. You might qualify for
  expungement if you were arrested but never
  charged with a crime, werent convicted or
  received an acquittal. Other circumstances that
  could lead to expungement include conditional
  discharge and probation before judgment.
  Regardless of why you want your record cleaned
  up, 609 credit repair has been helping people do
  just that for years and will work with you to
  figure out which avenues are best for expunging
  your criminal record.

2 Address Discrepancies
Once youve gotten an idea of where your credit
stands, its time to actually fix it. First,
address any discrepancies between what your score
says and what other agencies say these are
called discrepancies or disputes. Here are a few
places you can dispute information that could be
holding your score down FICO Scores, Vantage
Score and Equifax. If something looks incorrect
on your report, flag it with one of these
agencies and theyll investigate further.
4
3 Duplicate Records

• Be ready to submit supporting documentation, like
  receipts for car loans or utility bills in your
  namein fact, getting a statement that includes
  personal information about someone else could
  harm their credit scores as well as yours!
  Remember that once you request new information on
  your file (via verification) with each agency,
  theyll have 30 days to respondbut if you want
  updates every step of the way be sure to opt-in
  when you request new info.

People who file for bankruptcy lose their rights
to a good credit score, which can make it
difficult to get loans or mortgages. When you
file for bankruptcy, information about your debt
becomes public and stays on your credit report
for 7 years. This can be an issue if you need
financing during that time and cant find anyone
willing to give you a loan because of your poor
credit score. The Fair Credit Reporting Act
ensures you are only responsible for 50 if there
is a mistake in your credit report, which makes
it worthwhile to check yours from time to time
even after filing bankruptcy.
5
4 Fraudulent Entries

• Bad credit can result from a wide range of
  things, including identity theft and errors on
  your credit report. Often, these types of errors
  are just erroneous data, but there are instances
  where they could be caused by something more
  serious. If you suspect that someone has been
  making fraudulent entries to your credit report,
  its important to take immediate actionbut what
  should you do? In some cases, a simple dispute
  with one company is enough to remove fraudulent
  information from your record for other entries
  (such as those related to identity theft),
  though, it may be necessary to contact each of
  your three reporting agencies individually.

5 Bankruptcy Filings
Almost One Quarter (23) of All Americans Have
Filed for Bankruptcy and Thats Probably an
Under-Representation, Says a New Report (if link
doesnt work) Everyone has debt. Its practically
unavoidable in todays society. The debt we
accumulate varies from school loans to medical
bills, but these debts can quickly spiral out of
control if left unchecked.
6
This can lead people to filing for bankruptcy ,
but how common is it? A new report from
NerdWallet found that almost one quarter (23) of
Americans have filed for bankruptcy at some point
in their lives . The most common reasons people
file are

• 11. Credit Card Debt
• 12. Overdraft
• 13. Repossession
• 14. Collection of Personal Loans
• 15. Unemployment
• 16. Retirement Savings
• 17. Short Sale
• 18. Judgments
• 19. Car Repossession
• 20. Sinking Funds

• 1. Medical Expenses
• 2. Job Loss
• 3. Wages garnished for Child Support
• 4. Debt Secured by Property
• 5. Wage Garnishment
• 6. Dependent Care Costs
• 7. Unexpected Emergency
• 8. Divorce
• 9. Home Foreclosure
• 10. Low Income

7

• 21. Taxes
• 22. Refinancing
• 23. Pregnancy
• 24. Education Loan
• 25. High Interest Rate on Debt
• 26. Less than 1,000
• 27. Unpaid Utility Bills
• 28. Consumer Debts
• 29. Family Crisis
• 30. Vehicle Purchase
• 31. Bankruptcy Filings Often Lead to Positive
  Outcomes Despite once having struggled with your
  finances, many people still managed to climb out
  of debt and build stable financial lives .

8

• Among those who had declared bankruptcy in their
  past 32 made more than 50,000 per year 33
  said they didnt struggle financially after
  filing for bankruptcy 34 managed to pay off any
  debt within five years In fact, 63 had paid off
  all their debts within five years of declaring
  bankruptcy! There are many routes you can take
  when trying to fix your finances after a chapter
  7 or chapter 13 filings. First, you might be
  eligible for credit counseling services, which
  help identify options you could use to reduce
  your monthly expenses or change things about your
  spending habits.

9
Contact Us

• Address - 958 Pacific Ave Long Beach, CA 90813
• Email - info_at_creditrepairtechnology.com
• Phone - [phone]
• Website - https//creditrepairtechnology.com/
• Blog - https//creditrepairtechnology.com/the-impo
  rtance-of-credit-repair/