If your credit score is below 550 and you are having a hard time getting financed for anything, then you might want to consider credit repair. There are two ways to do credit repair. You can do it yourself, which isn't difficult but can be time consuming and frustrating (especially if you don’t what you’re doing) or you can pay a credit repair agency to do it for you (which can be expensive if you don’t know what to look for).
The first step in any type of credit repair is getting a copy of your credit report. Once a year you can request a free copy of your credit report from the three credit bureaus, TransUnion, Experian, and Equifax. When you have the credit report you need to look carefully at each account. How credit repair works is, any entries on your credit report that you think are inaccurate need to first be disputed with the three credit bureaus.
Next you must decide to either use a credit repair agency or to do it yourself. Should you have a lot of negative items on your credit report that are not accurate then you might want to consider saving yourself the hassle and hiring a credit repair agency. An average credit repair company charges about $1,000 for its services. This might be worth it if you have a lot of items you need to dispute. Keep in mind that by law a company cannot charge for a service it has not provided. This means that you should never pay for credit repair until the company has actually started to repair your credit.
Whether you decide to use a credit repair agency or do it yourself, credit repair can be a smart move. If you're looking to get a loan of any type the lower your credit score the higher your interest rates. By doing credit repair you can lower your interest rates and save a lot of money in the end.
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Matt Listro
Toll Free: 888-NCFIXER (623-4937)
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330 Roberts Street Suite 402
East Hartford, CT 06108
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