Article Categories

»	Arts & Entertainment
»	Automotive
»	Business
»	Careers & Jobs
»	Education & Reference
»	Finance
»	Food & Drink
»	Health & Fitness
»	Home & Family
»	Internet & Online Businesses
»	Miscellaneous
»	Self Improvement
»	Shopping
»	Society & News
»	Sports & Recreation
»	Technology
»	Travel & Leisure
»	Writing & Speaking

Reprint Article Code

Category: Articles » Finance » Debt Consolidation » Article » Article Code

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 ... read more

Article Title:

Article Body:

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.

Author Bio:

Some other recently published debt consolidation articles

Alleviates debt burden - Debt consolidation loans by Alan Jordan
If mounting debts is the reason for your worries, then forget all your worries because financial market has introduced a source ...

Low Rate Debt Consolidation Loan - Ease Debt Burden At Low Cost by Bonnie Castle
When you have decided to go for debt consolidation loan option in order to pay off the debts, your main concern is that the loan ...

Two Steps To Credit Card Debt Elimination by Tony Pescatore
For credit card debt elimination generally there are two recommendations the first is controlling the expenditures and the second is consolidating debt. For the recommendations of the ...

Freedom from Debts: Debt consolidation loans by Tim Kelly
Debt consolidation loans are the best way to remove your multiple debts. With the help of these loans, you can easily convert all your outstanding debts in ...

No More Debts to Follow You: Personal Debt Consolidation Loan by James Taylor
Debts were considered as hindrance to live a peaceful life. But the scenario has totally changed today with the arrival of personal debt consolidation loan. Known for providing sound financial ...

Debt consolidation: life-breath of a debt free life by Alex Jonnes
Practically speaking- debt is a part of today's life. Hardly, you will find people without any debt. But, with this assumption don't ...

Publisher Guidelines

You may reprint this article electronically in your newsletter or on your website, free of charge.

If you reprint this article from our site, then you must keep everything intact. This includes the articles title, author name, articles body, authors bio / resource box, the links contained within the article, all copyright notices and the link pointing back to our site. All links within the article must also be made active / hyperlinks.