credit repair basics l.
Skip this Video
Loading SlideShow in 5 Seconds..
Credit repair Basics PowerPoint Presentation
Download Presentation
Credit repair Basics

Loading in 2 Seconds...

play fullscreen
1 / 4

Credit repair Basics - PowerPoint PPT Presentation

  • Uploaded on

Project Credit Repair is a resource for guiding you on how to improve your own credit.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
Download Presentation

Credit repair Basics

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
    Presentation Transcript
    1. Credit Repair Basics

    2. Credit Repair Basics The Basics of Credit Repair • By having a credit, you are using someone else’s money as payment for your purchases. In addition, it also indicates that you are swearing to repay the money to the agency or person that loaned you the amount. • If you are applying for a loan, credit card or mortgage, it is normal for the agency to check your credit worthiness. This is essentially based on the assessment of your credit history, thus helping them determine the possible risks of the deal and decide the terms of the loan. Positive assessment means good financial background, which increases your chances of applying a credit.

    3. Credit Repair Basics (Continue….) The Credit Repair • The process wherein consumers with poor credit histories try to reestablish their worthiness is called the credit repair. It involves procuring the credit report from agencies and taking careful and appropriate steps in addressing apparent issues, including omissions, misreporting, misinterpretation or other inaccuracies. • If there are any discrepancies found in the credit report, the consumer is entitled to dispute the errors that unjustly harm their financial healthiness and credit worthiness. • Every consumer is entitled to one copy of credit report each year from each credit reporting agency. Investigations with regards to the real nature of the inaccuracies and errors are possible and necessary for a successful credit repair. • What influences your purchasing power and eligibility of availing any credit facilities in the future is your credit record. You should keep in mind that a good credit score can help in several purposes, such as: mortgaging a home, buying a car or applying for a job. On the other hand, a bad credit score can make you vulnerable to exorbitant interest rates and unnecessary loan terms from several companies.

    4. Credit Repair Basics (Continue….) How to Repair Your Credit • The process of credit repair can be achieved through hard work and discipline. Easy methods, which can help you get out of poor credit history, can be quite tempting. However, these easy way outs can only lead to further difficulties in the future especially if they are done illegally. • In case your poor credit history is caused by circumstances beyond your control, you can always request for an upgrade in your credit rating to your creditor. However, this can only be done if you were able to make amends to your credit records after the circumstances. • Creditors do not normally trust consumers who default on their payments. This can pose a difficulty to you in obtaining a new credit. However, once you are able to demonstrate enduring stability in your income and prompt patterns in your payments, the situation can improve in the span of two to three years. • Keep in mind that there are no quick fixes in repairing your credit. By contacting credit bureaus, creating your own corrections, budgeting and consolidating your debts can improve your own score.