IMPROVING YOUR CREDIT
Rebuilding Better Credit
by: T.B. Collins
Today, good credit is the one constant necessity needed
to succeed in any endeavor, from starting a new business
venture to purchasing a home. Without having established
prior good credit and maintaining this status, re-establishing
decent credit can be a very difficult task. The need for
credit and a good credit history is further enhanced by
the internet, considering that a large majority of credit
card transactions are conducted on the net, it is almost
imperative that consumers have a valid major credit card.
Yet in the modern world a vast number of consumers suffer
bad or poor credit, and lack the knowledge or skills to
rectify this situation.
This is not contributed to a lack of willingness on their
part to correct or establish a good credit report, but
to a lack of understanding the laws that are available
to the consumer. The most important of these laws is the
Fair Credit Reporting Act; this act gives the consumer
the right to correct any inaccuracies contained on their
credit file. The act regulates credit reporting agencies,
and what can be contained in the consumers’ credit
report. Yet, the most important section of the FCRA is
it gives the consumer the ability to dispute entries that
are obsolete or inaccurate, and items that may not belong
to the consumer. Correcting a credit report is not as
easy as it appears; it requires a tremendous amount of
time and effort on the part of the consumer.
The truth is that every person has the right to correct
their own credit, but dealing with creditors and credit
reporting agencies is difficult if they are not familiar
with the credit repair process. There are a large number
of books and do-it-yourself kits covering credit repair
topics that the consumer can purchase, but experience
in dealing with these agencies is the only way to get
a good understanding of how the entire process works.
But for those that want to venture into this process without
the help of a professional, be prepared to exert a tremendous
amount of time and effort to clear just one incorrect
entry.
Hiring one of the professional credit repair organizations,
for instance a company like Millennium Credit Service
whose website is located at http://www.millennium-credit.com,
can relieve the consumer of some of the burdens associated
with cleaning their credit. Although the consumer can
accomplish the same results as a professional, but the
fact is that if you never repaired a car would you read
a book and feel you could repair it without help from
a professional mechanic, probably not. Yet, these same
people are willing to venture into trying to repair their
financial future alone which may cost them more financially
in the long run than hiring a professional credit repair
organization.
Unlike the majority of companies claiming they can repair
your credit, but only specialize in selling do-it-yourself
repair kits, Millennium Credit Service is a full-service
credit repair organization that works with consumers to
clear their past credit, and help rebuild or establish
new credit. A word of caution when paying for repair services,
there are a lot pf unscrupulous companies claiming they
can repair or establish a new credit identity, but before
dealing with these companies know the laws that regulate
the credit repair industry, these laws can be found at
the Federal Trade Commissions website under the Credit
Repair Organizations Act at http://www.ftc.org, where
you can also find the Fair Credit Reporting Act.
Now that you have a better understanding of credit, and
what is needed to rebuild damaged credit, along with the
laws that protect the right of consumers, you should have
a firm start to rebuilding your credit. The first step
to rebuilding good credit is to gain access to your credit
report, most credit reports contain instruction that help
you understand them, but there is no substitute to a professional
when trying to rebuild credit. A professional can better
explain your credit report so that you will be able to
understand it, Millennium Credit Service offers a Credit
Analysis Program that explains your credit and your credit
score in laymen’s terms so that the consumer will
be more aware of their credit situation.
About The Author
T.B. Collins is the president of Millennium Credit Service,
and has been offering credit repair advice for over 10
years. To find out more visit http://www.millennium-credit.com. |
