By Jim Kemish

It’s Easy!

Credit repair offers an opportunity to improve your credit scores and save significant dollars each month. The process does not have to be complicated. If you are organized and have an understanding of the basics you can succeed. Credit repair expert Jim Kemish offers his valuable insights.

Include Yourself

It is important to understand how widespread credit reporting errors are. Over 200 million Americans have credit files with each of the three credit bureaus, and 150 million of those people have errors on their credit reports. If you are in this category there is a strong possibility that these errors are having a significant impact on your credit scores and causing you to pay higher interest rates on your loans and credit cards than you should. These premium interest rates may be costing you hundreds of extra dollars per month.

Its Your Right!

Millions of people miss out on the opportunity to improve their credit scores and save money because they are afraid to look at their credit reports. Or they believe that their low credit scores are probably correct because they were late on their payments in the past. This is a mistake. Dont imagine that your old credit problems bar you from challenging questionable information on your reports.

Invisible Errors May Cost You Thousands

Credit reporting errors are not always easy to spot. Most people scan their reports for obvious errors, such as derogatory accounts that do not belong to them, or inaccurate late payments. It is important to locate these obvious problems, but there are other errors that may have an even greater impact on your scores, and these errors may be entirely invisible. Duplicate accounts, understated high credit limits, misreported account opening dates, non-derogatory accounts that do not belong to you – but overstate your liabilities, and even the absence of accounts that should be reporting, are all in this category. In addition there are accounts that, although correct, should not be on your reports because they are past the statute of limitation. When you add them together these invisible errors may be having a major effect on your scores and the interest rates that you are paying on every dollar you borrow.

Help Yourself Starting Today

Dont let another day pass without taking action. Order your credit reports today. Make sure to order all three reports. Each bureau is somewhat different and will contain unique errors. There are no short cuts. Once you have your reports go through each one line-by-line. You might want to have a yellow highlighter and a pad of paper handy to make notes. If you find anything even slightly questionable I suggest that you give yourself the benefit of the doubt and add it to the list of items to be disputed. We are very clear about this with our credit repair clients; it is not enough that something seems familiar. If it is not definitely correct, you have the right to challenge it. And you should exercise your rights.

For Disputes Less is More

The credit bureaus process millions of dispute requests each month. Your letter will be read by a clerk that is trained to identify the nature of your dispute. No matter what you write, the clerks job is to identify the most basic issue and get the data into the computer as quickly as possible. There is no benefit to writing a story. If the account is not yours, say that the account is not yours. If you were never late, say that you were never late. Be clear and simple. If you stray from simplicity you take the risk that your dispute will be misinterpreted or labeled as frivolous and ignored.

When in Doubt Talk to a Pro

If the credit repair process is too time consuming, or you cant make sense out of it, you should consult a credit repair professional. Your credit is too important to ignore. Credit repair professionals have a comfort level with the credit reporting system that comes from extensive experience. Generally, their familiarity with the process will give you an edge in dealing with the bureaus. The professional edge may make the difference between average results and great results, and that may mean a lot.

The End Result

The better your credit scores the lower the rate you will pay on the money you borrow. This includes your mortgage, your auto loans, your credit cards, and more. Everyones situation is different, but in our experience a careful review and clean-up of your reports can have a dramatic impact on your credit scores. Make the effort. Dont miss the opportunity.

Copyright 2007 James W. Kemish. All Content. All Rights Reserved.

About the Author: Jim Kemish, a nationally recognized

credit repair

expert, is the president of Sky Blue Credit, a leading credit repair business since 1989. Jim is also the president of Power Mortgage, a

Florida mortgage

company.

Source:

isnare.com

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