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            Credit Report Repair Services

Credit report repair service providers offer their customers a paid service in reviewing and correcting or erasing credit records listed in your credit file. One of the key factors which decide whether you are eligible for fresh credit or not is your credit score or rating. Credit rating can be affected by several factors such as your repayment history across credit accounts, utilized and un-utilized lines of credit, delayed or missed payment history, CCJs, default and termination notices and 'footprints' in your credit file. Footprints are records of searches done by various credit providers without issuing a subsequent credit account.

What Credit Report Repair Services do Credit report repair services provide professional help in cleaning up your credit file and improving your credit score so that you can be eligible for further credit at lower rates of interest. These services however come at a price - you will have to pay an upfront enrolment fee and then a monthly fee for the duration your credit repair lasts. To briefly list the activities a credit report repair service will undertake on your behalf:

• Do a pre-evaluation of your creditworthiness as it stands now. This can be a free or paid service. Your current and past employment history, income details, details of loans and cards held, repayments made, etc, will be assessed by the credit report repair service and they will make appropriate suggestions as to how your credit rating can be repaired.
• Once a pre-evaluation report is prepared, it is reviewed by trained professionals who may or may not have a legal background.
• The latest credit file from each of the credit reference agencies will be reviewed to check if all entries are accurately reported and are legitimate confirmed entries.

If there are discrepancies found, credit report repair service professionals will contact and liaise with the credit reference agencies and follow-up in having the incorrect entries investigated and amended or erased from your credit file.

The main items which can be removed from your credit file legally are incorrect, unproven or outdated entries. Credit reference agencies are bound by law to investigate and remove such items from your credit file and acknowledge the same to you.

What's the catch?

• The methodology mentioned above is quite simple and is something you can actually do for yourself.
• Retaining a credit report repair service means paying money which can be an additional burden on your pocket.

Often, you will pay a fee for the introductory evaluation, a joining fee if you choose to sign up with the credit report repair service, and a monthly fee for each of the months it takes to get your credit file corrected and updated. This can be for a period of 60-120 months which adds up to quite a sum of money flowing out of your pocket and into the coffers of the credit report repair service.

There are both good and bad credit report repair services out in the market today. False promises or tall claims made by services such as getting your file fixed within thirty days or removing accurate negative records from the file or making illegal suggestions such as changing name or applying for new social identity number, etc, are best avoided.

Credit in Minutes Tip #1

Stay on top of your credit report. Most credit reports contain errors. Make sure you check your credit report every year (you get one free credit report every twelve months) and if there are errors make sure to challenge them with the reporting credit agency. Credit agencies are required to investigate each and every challenge that gets reported.

Credit in Minutes Tip #2

Just because you qualify for all of those credit cards does not mean you should get them. A person with too many credit cards looks sketchy in the eyes of a potential creditor. Think of it this way: if a person is financially stable does he or she need ten different credit cards? Wouldn’t just one or two suffice?

Credit in Minutes Tip #3

The best way to raise your credit score is to make all of your payments on time. It sounds too simple to be true, but that’s all there really is to it. Staying out of debt and/or making all of your debt payments on time will keep your score up where it should be.

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