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Would You Like to Remove ChargeOffs, Judgments, or Other Bad Credit From Your Credit Report? Would You Like to Raise Your Credit Score 50, 100, or Even 200 Points? Would You Like to Experience
the Feeling of Being Approved for a New Car or Home? Bad Credit, such as chargeoffs, judgments, and other negative listings can be deleted and removed from your credit report. The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his or her credit report on the basis of "completeness and accuracy." When a consumer files a dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the information is accurate, verifiable, and not obsolete. In some circumstances, the credit bureau is required to go beyond a simple verification of the creditor's own computer record. What most people don't know is that if, within 30 days, the credit bureau has not received verification from the creditor, then the credit bureau must promptly delete the credit listing (without verification of whether the entry is accurate or inaccurate!) The Cost of Bad Credit
If you are making payments on a car, you are probably paying between $5,000 and $9,000 more just for having bad credit. This added interest shows up every month in a higher payment. The following chart illustrates this:
Bad credit in auto financing can really hurt, but it is nothing compared to the cost of bad credit when a home is involved. A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit.
How to Repair Your Credit It is important to know the difference between legal and illegal techniques and how to best capitalize on the specific provisions of applicable law. Lexington Law is a law firm that specializes in credit report repair. They successfully deleted over 600,000 negative credit items last year alone, including:
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Copyright
2007, Get-Good-Credit.com
