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|| Understanding Your Credit
|| What If There's An Error ||
What About Fixing Bad Credit ||
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Fixing Bad Credit?
Sometimes you will see an advertisement with a 900 number
offering to give you credit, fix your credit report or a bad
credit history, "consolidate debts" - or you will find
a company that requests a finder's fee to set you up with a credit
These offers look too good to be true. They usually are. Investigate
them carefully and DON'T be misled by scams. There is absolutely
NO WAY to instantly repair a bad credit history. Only time and
up to 7 years of paying your bills promptly will improve your
credit history and the information contained on your credit report.
If you are credit worthy, a legitimate lender will lend you money
without charging a finders fee. You just need to be persistent.
If you are NOT credit worthy, someone may be willing to take
a risk, but you will pay for their risk. They will charge a higher
interest rate, "processing fees" and other fees and
expenses to help hedge against the risk. It's up to you to investigate
what the total cost of the loan will be and decide whether it's
You may also see ads offering to repair your credit. Beware!
There is no way of getting instant good credit. Building a credit
history takes time. If you question the services offered, you
may get evasive answers, or statements that imply help without
actually commiting to any results-all for a fee. Repairing your
credit is a process that you can't shortcut. Companies that try
to charge you for repairing your credit cannot deliver what they