Real Credit Repair
Do you want to find real credit repair to help you grow your wealth ultimately?
There has been a lot written recently about the evils of credit repair and credit repair companies.
You will find that in any business while it ‘s true that some are unscrupulous, there are real credit repair companies willing and able to help you.
Truthfully, the best defence is to knows the regulations and the laws in place to protect you.
Related to real credit repair:
Average Cost Of Real Credit Repair
People often want to know how much credit repair services will cost.
And it can vary depending on your situation and the different companies.
However, the cost of bad credit will astound you.
It’s said that the “typical ” individual with less-than-perfect credit will have, all other things equal, over $3,000 LESS DISPOSABLE INCOME per year than someone with very good credit.
While I believe that figure is a general average, it makes it very obvious that somebody with a 700 score will see benefits that somebody with a sub 600 score will not see.
While the way the true score is determined is a “secret,” it is based on the information reported to the credit reporting agencies by your creditors.
This is so that your eligibility can be evaluated.
The creditors are paying to report information on you, they can submit whatever information they have in their files.
How Real Companies Help
The simple reality is that the credit reporting agencies are currently collecting and dispersing information that affects your security and your livelihood.
A 2004 report distributed by the U.S. PIRG (federation of state Public Interest Research Groups) states that 79% of all credit reports contain errors.
Therefore, if the reporting agencies validated the information that amount would be much less.
The report adds that 25% of these errors are severe enough to be denied credit.
In other words, the errors they spread could be harmful to your financial stability and you.
Until the authorities intervened with the Fair and Accurate Credit Transaction Act of 2003 (originally meant to aid victims of ID Theft), you had to buy copies of you ” Client ” credit file.
It was more difficult to dispute mistakes on it and difficult to see what was in the file.
Thankfully, it is now much easier to see what’s in your file.
But disputes continue to be difficult at times and mistakes are found on a vast majority of reports.
This is where credit repair companies can help you.
Yes, people can dispute their files, but they are at a disadvantage during the dispute process.
Unless they are extremely knowledgeable about the Fair Debt Collection Practices Act, FACTA, and other consumer protection acts and legislation.
Just like you’d see a cardiologist or an ER physician if you’re having chest pain, you should see a credit professional.
Avoiding High Fees
Every month from a financial aspect, if your scores are below 720, you could be paying hundreds of dollars MORE on your mortgage.
For example, even a small difference from 8% to 7% on mortgage interest, equates to just over $100 a month in savings on interest and principle alone.
Add in the increased cost of private mortgage insurance and the new Loan Level Price Adjustments for borrowers with a score less than 680, and you could be looking at higher monthly payments.
As well as, more “penalty fees” paid up-front or financed into the loan (shortly up to 2.75% due to the LLPAs) and higher required down payments.
All because of information on your report or from financial difficulties that you have overcome, but are being penalized for.
Another issue that experts often see is the existence of collections on the report.
In actuality, every year, customers are bullied into paying millions of dollars to unethical collection companies who don’t have the right to collect any longer.
But since they use threats of litigation, garnishment, or lien, customers believe they have no other choice than to cover.
So, what is the true cost of credit repair?
In most cases, much less than the cost of bad credit.
In addition to the savings on a mortgage as explained repairing bad credit may reduce the interest rates on automobile loans and your credit cards, as well as reduce your insurance costs.
These savings could add up to hundreds if not thousands of dollars a month, depending on your level of debt as well as your interest rates.
To close, when you choose a real credit repair company you’re more likely to get 2-5 times the return on your investment.
In addition, you can plan ahead over the next year and can devote a certain sum on credit repair.
It is very much worthwhile.
Consider it as someone selling ten bills for $5; how many would you buy?
If you said ALL OF THEM, we think alike.
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