Can Credit

Repair Systems

Really Work?

Is Poor Credit Keeping You From Everything You Deserve?

Did You Know That Bad Credit Costs You Big Money!

Got Bad Credit? If You Do:

• You pay higher loan fees, if you can even get one.
• Insurance rates are extremely high.
• You can be denied a lease for a rental
• And even more…..

There is an answer and there is light at the end of the tunnel. You don’t have to spend a lot of money on attorneys or credit restoration companies. Do-it-yourself credit repair is just not that hard. Read the reviews of these great products and find a system that suits you. Then get working to fix your credit today. Don’t wait – or it will cost you big.

CREDIT REPAIR MAGIC REVIEW Our #1 choice. These days millions of people around the country are finding themselves with credit reports. This keeps them from being able to get favorable loans or low interest credit cards and even decent apartment rentals…..

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37 DAYS TO CLEAN CREDIT REVIEW In reviewing these various DIY credit repair systems it was very difficult to chose a clear winner for best system.  37 Days To Clean Credit was a really close runner up and for the money it represent an excellent value….

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CREDIT CRUNCH SLAYER REVIEW Have you found yourself to be in over your head in debt? Is that stack of“Past Due” billing statements growing larger each and every time you go through them? Do you get the feeling that you have nowhere to run….

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Repair Credit Score

There are many misconceptions about how to repair credit scores out there. There are customers who believe that they don’t have a credit score and many customers who think that their credit scores just don’t really matter. These sorts of misconceptions can hurt your chances at some jobs, at good interest rates, and even your chances of getting some apartments.

The truth is, of you have a bank account and bills, then you have a credit score, and your credit score matters more than you might think. Your credit score may be called many things, including a credit risk rating, a FICO score, a credit rating, a FICO rating, or a credit risk score. All these terms refer to the same thing: the three-digit number that lets lenders get an idea of how likely you are to repay your bills.

Every time you apply for credit, apply for a job that requires you to handle money, or even apply for some more exclusive types of apartment living, your credit score is checked.

In fact, your credit score can be checked by anyone with a legitimate business need to do so. Your credit score is based on your past financial responsibilities and past payments and credit, and it provides potential lenders with a quick snapshot of your current financial state and past repayment habits.

In other words, your credit score lets lenders know quickly how much of a credit risk you are. Based on this credit score, lenders decide whether to trust you financially – and give you better rates when you apply for a loan. Apartment managers can use your credit score to decide whether you can be trusted to pay your rent on time. Employers can use your credit score to decide whether you can be trusted in a high-responsibility job that requires you to handle money.

The problem with credit scores is that there is quite a bit of misinformation circulated about, especially through some less than scrupulous companies who claim they can help fix your credit report and repair credit scores – for a cost, of course.

From advertisements and suspect claims, customers sometimes come away with the idea that in order to boost their credit score, they have to pay money to a company or leave credit repair in the hands of so-called “experts.” Nothing could be further from the truth. It is perfectly possible to pay down debts and boost your credit on your own, with no expensive help whatsoever.

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If you are going to improve your credit score, then logic has it that you must understand what
your credit score is and how it works. Without this information, you won’t be able to very
effectively improve your score because you won’t understand how the things you do in daily life
affect your score.

If you don’t understand how your credit score works, you will also be at the mercy of any
company that tries to tell you how you can improve your score – on their terms and at their price.
In general, your credit score is a number that lets lenders know how much of a credit risk you
are. The credit score is a number, usually between 300 and 850, that lets lenders know how well
you are paying off your debts and how much of a credit risk you are.

In general, the higher your credit score, the better credit risk you make and the more likely you
are to be given credit at great rates. Scores in the low 600s and below will often give you trouble
in finding credit, while scores of 720 and above will generally give you the best interest rates out
there. However, credit scores are a lot like GPAs or SAT scores from college days – while they
give others a quick snapshot of how you are doing, they are interpreted by people in different
ways. Some lenders put more emphasis on credit scores than others.

Some lenders will work with you if you have credit scores in the 600s, while others offer their
best rates only to those creditors with very high scores indeed. Some lenders will look at your
entire credit report while others will accept or reject your loan application based solely on your
credit score.

The credit score is based on your credit report, which contains a history of your past debts and
repayments. Credit bureaus use computers and mathematical calculations to arrive at a credit
score from the information contained in your credit report.

Each credit bureau uses different methods to do this (which is why you will have different scores
with different companies) but most credit bureaus use the FICO system. FICO is an acronym for
the credit score calculating software offered by Fair Isaac Corporation company. This is by far
the most used software since the Fair Isaac Corporation developed the credit score model used
by many in the financial industry and is still considered one of the leaders in the field.

In fact, credit scores are sometimes called FICO scores or FICO ratings, although it is important
to understand that your score may be tabulated using different software.
One other thing you may want to understand about the software and mathematics that goes into
your credit score is the fact that the math used by the software is based on research and
comparative mathematics. This is an important and simple concept that can help you understand
how to boost your credit score. In simple terms, what this means is that your credit score is in a
way calculated on the same principles as your insurance premiums.

Your insurance company likely asks you questions about your health, your lifestyle choices
(such as whether you are a smoker) because these bits of information can tell the insurance
company how much of a risk you are and how likely you are to make large claims later on. This
is based on research.

Studies have shown, for example, that smokers tend to be more prone to serious illnesses and so
require more medical attention. If you are a smoker, you may face higher insurance premiums
because of this.

Similarly, credit bureaus and lenders often look at general patterns. Since people with too many
debts tend not to have great rates of repayment, your credit score may suffer if you have too
many debts, for example.

Understanding this can help you in two ways:
1) It will let you see that your credit score is not a personal reflection of how “good” or “bad”
you are with money. Rather, it is a reflection of how well lenders and companies think you will
repay your bills – based on information gathered from studying other people.
2) It will let you see that if you want to improve your credit score, you need to work on
becoming the sort of debtor that studies have shown tends to repay their bills. You do not have
to work hard to reinvent yourself financially and you do not have to start making much more
money. You just need to be a reliable lender. This realization alone should help make credit
repair far less stressful!

Credit reports are put together by credit bureaus, which use information from client companies. It
works like this: credit bureaus have clients – such as credit card companies and utility companies,
to name just two – who provide them with information.

Once a file is begun on you (i.e. once you open a bank account or have bills to pay) then
information about you is stored on the record. If you are late paying a bill, the clients call the
credit bureaus and note this. Any unpaid bills, overdue bills or other problems with credit count
as “dings” on your credit report and affect your score.

Information such as what type of debt you have, how much debt you have, how regularly you
pay your bills on time, and your credit accounts are all information that is used to calculate your
credit score.

Your age, sex, and income do not count towards your credit score. The actual formula used by
credit bureaus to calculate credit scores is a well-kept secret, but it is known that recent account
activity, debts, length of credit, unpaid accounts, and types of credit are among the things that
count the most in tabulating credit scores from a credit report.

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Because of the way credit scores are calculated, some actions you take will increase credit score better than others. In general, paying your bills on time and meeting your financial responsibilities will increase your credit score the most. Owing a reasonable amount of money and being able to repay it will show lenders that you take your finances seriously and pose little threat of lost money. There are a few tips that, more than any other, will increase your credit score the most:

Tip #1 – Pay your bills on time.

One of the best ways to increase your credit score is simply to pay your bills on time. This is absurdly simple but it works very well, because nothing shows lenders that you take debtsseriously as much as a history of paying promptly. Every lender wants to be paid in full and on  time.

Tip #2 – Avoid excessive credit.

If you have many lines of credit or several huge debts, you make a worse credit risk because you are close to “overextending your credit.” This simply means that you may be taking on morecredit than you can comfortably pay off. Even if you are making payments regularly now on existing bills, lenders know that you will have a harder time paying off your bills if your debt load grows too much. This type of borrowing will not increase your credit score.

Tip #3 – Pay Down Your Debts

If you have a lot of debt, your credit score will suffer. Paying down your debts to a minimum will help to increase your credit score. For example, if you have a $1000 limit on your credit card and you regularly carry a balance of $900, you will be a less attractive credit risk to lenders than someone who has the same credit card but carries a smaller balance of $100 or so. If you are serious about improving your credit score, then start with the largest debt you have and start paying it down so that you are using a less large percentage of your credit total.

Tip #4 – Have a range of credit types

The types of credit you have are a factor in calculating your credit score. In general, lenders like to see that you are able to handle a range of credit types well. Having some form of personal credit – such as credit cards – and some larger types of credit – such as a mortgage or auto loan -and paying them off regularly is better than having only one type of credit. This will serve to increase your credit score.

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Check your credit score regularly

You are more likely to notice problems and inconsistencies if you check your credit score on a regular basis – at least once a year and preferably three times a year. Be sure to check your credit rating with each credit bureau, too. If you notice anything odd or anything you don’t recognize (such as a charge account you did not open) report it immediately.

Sometimes, these errors are caused by mistakes made at the credit bureau, but they could be an indication that someone is using your identity. In either case, such mistakes could hurt your credit score. Fixing such errors improves your credit score.

If you think you have been the victim of identity theft, take action at once:

1) Contact the three major credit bureaus and ask to speak to the fraud department. Explain that you have been the victim of identity theft (or believe you may have been) and ask that an “alert” be placed on your file. This will let anyone looking at your report know that you may have been the victim of fraud. It will also mean that you will be alerted any time a lender asks to look at your file – each time a lender does look at your file, it may be an indication that the identity thieves are trying to open a new account in your name.

When the lender sees that the person applying is not you, they will deny the thieves credit and in most cases the criminals will stop trying to access your identity. Most alerts on your file last 90 or 180 days but you can extend this period to several years by asking the credit agencies for an extension of the “fraud alert” in writing.

In some states, you can even ask for a freeze to be placed on your credit score and credit report which will prevent anyone but yourself and those creditors you already have from accessing your file. Any lenders the thieves contact to set up a new account will be refused access and the thieves will not be able to get any more money in your name.

You are entitled to a free copy of your credit report if you have been the victim of identity theft.  Be sure to take advantage of this offer so that you can check exactly how your credit has been affected. Dispute those items that are not yours.

2) Call the Federal Trade Commission (FTC) at 1-877-438-4338.  This is the special hot line that the FTC has set up to help customers deal with fraud and identity theft. You will be able to get up-to-date information about your rights and advice as to what you can do to improve your credit score and keep in safe in the future.

3) Contact the police. Identity theft is a crime and you need to file a police report (be sure to keep a copy of this report) so that you can help the police potentially catch the criminals responsible. Contacting the police will also give you a paper trail and proof that a crime has been committed. Keeping a paper trail of the crime and your response will make it easier for you to repair your credit if it has been damaged by identity thieves.

4) Contact your creditors or any creditors that the identity thieves have opened an account with. Ask to speak to the security department and explain your predicament. You may need to have your accounts closed or at least your passwords changed to protect yourself.

You may also need to fill out a fraud affidavit to state that a crime has been committed – be sure to keep a copy of this form for your records. The security team of the creditors should be able to advise you as to what you can do. Be sure to note down who you contacted and when so that you have records of the steps you have taken to deal with the crime.

If you have been the victim of identity theft and you are deeply in debt to creditors you never contacted, you will not be held responsible for the charges – but you will have to prove that you have been the victim of identity theft, which is tricky since the thieves are using your name and claiming to be you.

It is a frustrating experience because lenders will want to be paid and you will want to avoid paying for charges you did not run up. Being persistent and keeping good proof that you have been the victim of a crime will help to clear your credit score. In the meantime, however, you will be faced with a much lower credit rating than you deserve and you may have to put off larger purchases that may require a loan.

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