Monday, April 12, 2010

Credit Repair: What It Is and Why You May Need It


Your
Credit, Your Money, Your Life.

Special Report About Credit And How It Effects Yo



Credit report information

Details about your financial behavior and identification information are
contained in your personal credit report. This consumer-friendly report
is sometimes called a credit file/report or a credit bureau. A copy of
your credit report makes it easy for you to understand the information
a lender would be seeing if they review your credit history. The typical
consumer credit report includes four types of information.


By law, a credit report cannot disclose certain medical information (relating to physical, mental,
or behavioral health or condition). Although they do not generally collect
such information, it could appear in the name of a data furnisher (i.e.,
"Cancer Center") that reports your payment history however. If so, those
names display in your report, but in reports to others they display only
as medical payment data. Consumer statements included on your report at
your request that contain medical information are disclosed to others.


Public record information in some states may also include overdue child support. Bankruptcy information can remain on your credit report up to 10 years; unpaid tax liens can
remain for up to 15 years; other public record information can remain
up to seven years.




Credit information includes specific account information, such as the date opened, credit
limit or loan amount, balance and monthly payment and payment pattern.
The report also states whether anyone besides you (a joint account holder
or cosigner, for example) is responsible for paying the account. Active
positive credit information may remain on your report indefinitely, while
most negative information remains up to seven years. The most important
factors to look for on your credit report are as follows:


  • Account Name/Number
  • Balance
  • Status (Collection,
    Chargeoff, Previously Late, Paid, etc.)
  • Credit agencies
    listing the item
  • Imortant Dates
    (Open date, Close Date, Activity dates)
Most important above all is your credit score. This number gives you a indication of your "credit
health".

  • 300-499 - Terrible
  • 500-599 - Poor
  • 600-650 - Fair
  • 650-699 - Good
  • 700-850 - Excellent
Personal information
is also contained in your report and can include your name, current and
previous addresses, telephone number, reported variations of your Social
Security number, date of birth and current and previous employers.




Two main factors determine your overall credit strength and are considered by all lenders and creditors
before approving you for a specific rate. The worse these two factors
are, the worse rate you get, or the more often you will be turned down
all together for loans and credit lines:


  • Credit Score (as
    determined by your both your positive and negative credit history)
  • Debt to Income
    Ratio
No one can improve your debt to income ratio, only you can. It basically means how much money
you make versus how much you already have credit you have extended



If you have a low credit score however, this will also be one of the biggest reasons why
you will always pay more to get less. Or worse, why you will get denied
for the loan, or credit line you want. It is so important to your financial
health to raise your credit score and improve your credit situation if
you have poor or even just a few marks against you on your credit report.

You will save more
(tens of thousands over a period of years) and you will always be able
to have more than someone with poor credit. It's just a simple truth.

There are several
ways you can raise your credit score and improve your credit. The most
popular and by far the fastest is to use a trusted credit repair service.

After
many requests to research the top credit repair companies available online,
this is what we found... There are many options available and it does
not surprise us to see many “every day” people get taken by false claims
and empty promises. If you're unhappy with your credit, and you’re looking
for a little help, then you’ll be glad to know that we’ve saved you the
time, and bypassed the headaches of looking for the best affordable option.

DSI Solutions, a recognized leader in credit repair, has put together one of the most
complete solutions for repairing your credit we’ve been able to find anywhere.
They take care of everything for you. EVERYTHING. After a little research
we discovered that the company has over 7 years experience, amazing proven
results, and 30,000 satisfied customers. They have legally repaired over
100,000 credit reports and their clients see results within the first
60 days. And if that’s not enough, we recently received an email from
the company and this week they are offering a special promotion for all
new clients. We highly recommend you check them out, and we've managed
to give you a head start on their promotion, so take advantage of it.
Visit their website here to get all the details.


This is recommended to anyone who has bad credit, or even less than perfect credit. You'll
find out why you're paying more just to get less, and how they can help.
It's a very affordable service, and this company really gets the job done.
If you have late payments, collections, chargeoffs, or other negative
marks against you on your credit report, it's costing you money—and
holding you back. They help a ton of people, and they're highly recommended.

To also help you understand how much your current credit history and score are costing you we have
also put together some simple numbers for you to view:




Your
Credit Score

Interest
Rate

Monthly
Payment

Total
Interest Paid Over 30 years

720-850

5.57%

$858

$158,880

700-719

5.69%

$870

$163,200

675-699

6.23%

$922

$181,920

620-674

7.38%

$1037

$223,320

560-619

8.53%

$1157

$266,520

500-559

9.29%

$1238

$295,680


If you are making payments on a car, you are probably paying between $4,000 and $8,000 more
in interest just for having bad credit. This added interest shows up every
month in a higher payment. Take a look:



$30,000 car paid over five years:



Credit Status Rate Payment Cost
of

Bad Credit
Excellent 5% $566.14 $0.00
Mildly
Damaged
8% $608.29 $2529.00

Damaged
12% $667.33 $6071.40




So many people just live out their lives with poor credit and low credit scores. They don't
even realize how much it is costing them, and worse yet, they don't even
know credit repair is available. This company is one of the most aggressive
(and affordable) options anywhere. They're honest, fair, and help hundreds
of people every month exactly like you. If you're really tired of dealing
with your credit situation, and if there are some marks on your credit
report that are really hurting your score visit their website and check
out your options.



Click
here to read more
.

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