Credit Repair
You bought a Thermometer Fork and Sham-Wow with a credit card you forgot existed.
You forget to make a payment. After two months, the payment is sent to collections. And that negative news ends up on your credit report.
Why didn’t you listen to your parents about fiscal responsibility?
Your credit score falls from 780 to 590. Potential lenders are now less interested in issuing you credit, or will require you to pay a much higher interest rates for any monies borrowed. If you want to get your credit score back to 780, you should explore the process of credit repair.
This is a process of disputing errors on your credit report, paying off existing debts, and requesting to have previous debts removed as well. However, it’s not just individual, personal failings that may require credit repair. Victims of identity theft may require credit repair services to address debts accrued.
Related or Semi-related Video
Finance: What is the Equal Credit Opport...6 Views
Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the
federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]
into debt isn't that sweet of them you know that Uncle Sam well he sure does
have a heart of gold this federal law makes it illegal to discriminate against
people who are applying for financing on pretty much anything legal based on
their age gender marital status religious affiliation ethnic or national
background or public assistance benefits your credit score however well that
still matters sorry just keeping it real
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