How Professional Credit Repair Can Put $1,000's in Your Pocket

In this article, we demonstrate how professional credit repair can save you money. Obviously, better credit equals lower interest rates, usually a lower down payment, better loan terms, and easier qualifying.

Having good credit has other benefits as well. For instance, more employers are basing hiring and promotion decisions based partly on a candidate's credit.

Also, if you are a renter, you may negotiate a lower move-in cost.

Below is a comprehensive list of the tasks and techniques to show how professional credit repair can put $1,000's in your pocket.
• Write letters to the credit bureaus requesting that they delete any negative information that is on your report that's older than 7-10 years. The time-frame varies from state to state.

• Check your credit report for old accounts that you are not legally responsible to pay-back. This is known as the Statute of Limitations (SOL). Debt collectors have a limited time to collect debts (the time-frame varies from state to state). If they cannot collect an old debt that you have, you are not required to repay the debt.

• Provide you with your free credit report and show you how to read and understand your report (optional).

• Explain and help protect your rights as a debtor, in regards to your creditors, debt collectors, and the credit bureaus.

• Ensure that your creditors have reported all of your on-time payments to the major credit bureaus.

• Request that your creditors remove any negative marks on your credit report in exchange for a payment or a pay-off of the balance. This request is occasionally, but not always granted.

• Challenge inaccurate, outdated or misleading information contained in your credit report. It's helpful if the dispute letters that are written by attorneys. The correspondence demands that the incorrect information be corrected or deleted from your credit report. Federal law requires that the credit bureaus delete all accounts that you dispute and cannot be verified by your creditors..

• Follow-up to ensure that the credit bureaus send you written proof of the successfully accounts that were disputed and have been deleted.

• Perform Debt Validation. If debt collectors cannot, or will not provide you with proof that you owe the debt, then you are not legally responsible to repay it! The credit repair company should contact the credit bureaus to delete the account(s). This technique alone proves how professional credit repair can put $1,000's in your pocket!

• Inform your debt collectors that they cannot collect on any of your debts if the Statute of Limitations has expired (a law that prevents debt collectors from collecting money from old debts).

• Perform various techniques that raise your credit score. e.g. showing you how low to keep your balances of your credit cards, how many accounts to have open, which accounts to close, etc.

• If you choose a debt settlement program, negotiate with your creditors to modify or delete the negative phrasing on your credit report. For example, instead of an account stating "settled for less than full amount", it should be expressed as "paid as agreed".

The End Result Is A Larger Bank Account
Upon completion of a credit repair program, your credit score should rise substantially. Therefore, creditors will offer more attractive interest rates. As a result, your monthly payments will be lower. Consequently, you will be able to save more. That's how professional credit repair can put $1,000's in your pocket! Hopefully, you won't charge anymore!