Credit Repair - It's All About Saving Money

Why is credit repair important? It comes down to one simple thing - saving money.

Everyone has a credit report. It turns out that about 70% of all credit reports contain inaccurate or untimely information. This can have an adverse effect on your credit score and that can cost you money. Credit repair is the process you undertake to remove or correct these errors on your credit report.

The great thing about repairing your credit is it's not difficult to do. The first step is to obtain a copy of your credit report. If you have been turned down for a loan or credit, you are entitled to a free credit report within 60 days of the rejection. You are also entitled to 1 free report from each of the 3 credit reporting agencies each year.

The next step is to let the credit reporting agency know in writing what information you think is inaccurate and request that it be removed or corrected. Make sure you send the letter by certified mail so you have a receipt with a record of when you sent it. Always keep copies of your letters.

The credit reporting agencies have 30 days to investigate your dispute and get back to you. If they find the information under dispute to be inaccurate, they must notify all three credit reporting agencies and the creditor or organization that provided the information. All of them must correct the information in your file.

When the investigation is complete, the credit reporting agency will provide you with the results and a copy of your updated credit report for your review.

If the investigation does not resolve the issue, you can request to have a statement of the dispute added to your file and on future credit reports.

Then you need to send a letter to the creditor or organization that provided the inaccurate information, telling them that you dispute their information. Include all documents that support your position. If the creditor reports the information to a credit reporting agency, it must also include a notice of the dispute.

So why go through this exercise? Your credit score determines how much interest you pay on loans or credit. If you add up how much interest you pay on your car loan, home mortgage and insurance, you can see just how much money is at stake - it can be thousands, tens of thousands or even hundreds of thousands of dollars. It can even determine if you get a job or not.

Credit repair is vital in making sure your credit report is accurate so you can save money - sometimes a great deal of money.
Thomas Erikson is co-founder of http://www.your-debt-consolidation-loan.com which provides http://www.your-debt-consolidation-loan.com/credit-repair.html information and solutions.

Adoption Studies48486
Hot Tub Deck Windansea85686
Teeth Whitening Gel Coupons46265
Architect And Designer Book Club26097
Teeth Whitening Lakewood8179
Singapore Airfare41858
Nevada Laser Teeth Whitening75959
Adoption Search Registries26161
What Is Diabetes Mellitusposoqp
Floral Park Teeth Whitening51926
Arizona Architect20822
Desert Landscaping Plant1789
Fort Lauderdale Teeth Whitening32044
Diabetes Mellitus Type 271221
Keywordymsbajzqe
Unique Wedding Gift79423
Virtual 3d Pet Adoptionnylnklsn
Diabetes Diet Prevent70322
Diabetes Software48775
Illinois Adoption Agencyktynto
220 Volt Wiring For Hot Tub42364
Leisure Time Hot Tub Shemicals52345
Car Insurance Online Qoutes26500
Hot Tub Covers Kelowna18758
Bali Wedding22727
Cheapest Airfare Tickets27262
Landscaping Timber13912
Reptile Adoption63259
Juvenile Diabetes Foundation82582
Car Estimate Insurance Quote48666