Credit Repair Agencies Can Help Improve Your Credit Score - Consolidate Credit To Save Money – Identification Monitoring

Credit Repair Agencies Can Help Improve Your Credit Score - Consolidate Credit To Save Money – Identification Monitoring

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There are many negative consequences to bad credit including difficulty receiving credit, higher interest rates, and difficulty getting employment or an apartment. There are several options available for fixing a bad credit report, but it would be wise to speak to some experts before you decide on a course of action to take. Some of the better credit repair agencies are law firms who specialize in credit.

New laws allow Americans to get at least one copy of their credit report from the three credit reporting agencies once per year. It is recommended you start there. The three companies are Equifax, Experian and Transunion. Get copies from each and go over them with a fine-toothed comp for mistakes.

Make a list of mistakes and mail off that list to the appropriate departments listed on each credit report. Although you can dispute anything on your credit report, the FTC recommends you dispute those items you believe to be wrong only. If the creditor does not respond within 30 days, these negatives can be removed. It may be best to dispute these negatives one by one.

There are various credit repair companies that will do all of this for you. Some companies will offer “No Risk” money back guarantees if negatives are not removed. You may only have to pay for those items which are removed.

Next you should consider working on the interest rate with your existing creditors. Give them a call. Negotiate a lower rate if possible. Ask to speak to the supervisor if you don’t get anywhere with the first representative. Tell them you are considering moving your balance to another card or company. Credit consolidation companies may also work to lower your interest rate and possibly consolidate your debt with one low monthly payment.

There are also services available to monitor your credit. They will notify you when changes occur in your credit record and provide you free credit reports. It is well worth your time to investigate your credit. This could save you headaches in the future.

By John Waters
Best Syndication Business Writer

Comment: The Federal Trade Commission advises avoiding "any credit repair company that advises you to dispute all of the information in your credit report."

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