Q AND A’s ABOUT CREDIT AND CREDIT BUREAUS
Facts about credit and the credit bureaus. It would be wise to know the law and research each credit credit bureaus practices before beginning your path to debt freedom.1) Consumers cannot repair credit score by themselves. This is actually not true. All the information that you need to clean your credit like the pros is easily accessible at www.1800aaacredit.com. And you do not have to pay thousands to achieve a good credit score.2) If you get a bad item removed from your credit, it can easily be put back on. The truth about this misconception is that if you follow the rules of the Fair Credit Reporting Act and dispute erroneous items on your credit, it cannot be put back on your credit.3) Paying off old debt or charge offs according to credit bureaus removes it from your credit. Paying off old debt settles the creditor but does not clear your credit report of the bad item. But it is possible with a little information, to wipe any charge-off from your credit.4) Credit Bureaus are a government agency. Many people have the perception that this is the case, but actually all three credit bureaus are private companies. This makes them liable for damages therefore if you follow them with the law, rather than risk a law suit they will most likely settle and clean your credit.5) Credit Bureaus are required to remove any erroneous items from your credit after 7 years. This is true but what people don’t realize that the 7 years begins from your last delinquency which therefore can extend this time even past 10 years. And that is a long time to be without good credit.6) Information on your credit cannot be changed by disputing. The opposite is actually true. Any dispute presented to the credit bureau has to be verified and confirmed by the bureau within 30 days which after they have to remove the item from your report by law. This is quoted under the Fair Credit Reporting Act.7) Inquiries into your credit can damage your credit. This is unfortunately true, if you have a couple of inquiries then it is not too bad, but anything more and creditors will see you as desperately seeking credit from anyone who is giving it.Learn how to clean your credit at www.1800aaacredit.com .
About the Author
The ASANIWELLS FINANCIAL GROUP is dedicated to helping ordinary people change their lives for better and erasing the stigma of having a bad credit score.The Asani Wells financial group consists of ex-Bureau employees and agency solicitors who have combined years of knowledge of the credit score system into this easy to read downloadable EBOOK. Please visit www.1800aaacredit.com for more details Visit their website at: www.1800aaacredit.com
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