Myths of Credit Repair pt. 3

Myth #3 is very commonly heard. It may be because the credit reporting agencies and your creditors continue to spread this "rumor" to make you pay higher interest rates. In fact, they spends MILLIONS of dollars to perpetuate many of these myths so that they can make BILLIONS of dollars from the unsuspecting public. Pretty good return on investment, if I must say so myself. Too bad it's just wrong!

Myth #3: There are items such as bankruptcies, foreclosures, and tax liens that are impossible to remove from the credit report.

There is no type of negative listing that has not been removed from a credit report thousands of times.

Let me repeat that a little louder......

There is no type of negative listing that has not been removed from a credit report thousands of times.

And Yes, I can back that up with copies of credit reports directly from Experian, Equifax, and Trans Union. If someone tells you any different, they are either uninformed or do not have your best interests in mind. Either way, if they are working for you, you need to find someone who knows and understands the system better.

If you need help fixing your broken credit, you need a professional. When you find them, be prepared to pay a fair price for what they are able to do. Remember, an increase of 30-40 points in your score could be a savings of thousands of dollars a year on your mortgage, auto loans, credit cards and insurance.

Once again, a great return on investment. Except this time, YOU can benefit! And that is ALL RIGHT!

Next time we will discuss the myths of disputes.

Scott

Scott Swinford is an Executive Consultant for the US Consumer Credit Restoration Association and a Certified Mortgage Planning Specialist in Northwest Indiana. If you have any questions, you can send email to scott@USCCRAonline.com.