Credit Repair Info.

There couldn’t have been a better time like now to negotiate settlements with your creditors and making requests with the Credit Bureaus or consumer reporting agencies to your benefit. It is just tough time in America right across the board and your creditors know it. We are almost in a recession, Federal Reserve Chairman Ben Bernanke stated recently. People across this Nation are losing their jobs, homes in foreclosure, repossession of their automobiles, etc. Things are tough for many Americans today.  It is a bad economy and people are having a tough time paying bills on time.

However, you should not fall victim to these tough times. Now is the time to preserve and clean up your credit. As I have stated before in my earlier posts and articles, maintaining a minimum credit score of 700 will get you places in America. You will be unstoppable. You won’t have any reasons to borrow from your family, friends, co workers, etc., because you can simply walk into any banks or apply for any major credit cards, or a mortgage, and you will get it at least 80 per cent of the time. But you must know how to live within your means. As we said in our culture: “Hang your basket where your hands can reach it.”  Going out there and borrow without knowing how you are going to pay for it can also ruin your credit score and credit worthiness. So be very careful. It is good to have the platinum and gold cards in your wallets or pocket books, but it would be wise on your part not to use them for a while…be conservative. You would be surprised to know that when you do not use up your credit line, it increases your credit scores. For example, if you have a credit card with a credit line of $10,000.00 and you can maintain a balance of over $9,500.00 or more each month, good news!!!! That helps your credit score. For more information, see: www.sdcg1.com and send an email with your inquiry. It is free consultation, so take advantage of it.

I cannot emphasize enough how important it is for you to invoke and apply the law in cleaning up your credit. For example, if you are disputing any thing negative, erroneous or inaccurate on your credit reports, this is your best strategy to fight it.

The federal Fair Credit Reporting Act (FCRA) provides that you may: (1).request a description of how the Credit Bureaus verified the information including the business name and address contacted, and telephone number, if reasonably available. (Note: The name and address information also appears on your original credit report).

(2). Add a statement disputing the accuracy or completeness of the information.

(3). Request that Credit Bureaus send these results to organizations who have reviewed your report in the past two years for employment purposes or six months for any other purpose. (Twelve months for residents of Colorado, Maryland and New York).

Know Your Rights !!!

A summary of your rights under the Fair Credit Reporting Act (FCRA), for more information about your rights, go to: www.ftc.gov/credit or write to: Consumer Response Center, Room 130-A, Federal Trade Commission 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580

1. You must be told if information in your file has been used against you.

2. You have the right to know what is in your file.

3. All consumers are entitled to one free disclosure every 12 months upon request from each Nationwide Credit Bureau and from Nationwide Specialty Consumer Reporting Agencies. See: www.ftc.gov/credit for additional information.

4. You have the right to ask for your credit score. (Some may charge a nominal fee of $12.00 to $25.00)

5. You have the right to dispute incomplete or inaccurate information.

6. Consumer Reporting Agencies must correct or delete inaccurate, incomplete, or unverifiable information.

7. You may seek damages from violators. If a consumer reporting agency or, in some cases, a user of consumer reports or a furnisher of information to a consumer reporting agency violate the FCRA, you can sue in state or federal court.

For more information on your rights, see: www.sdcg1.com; send us an email with your inquiry.