Free Credit Repair

I agree with Kurt. Credit score plays a very important role in every aspect of our life. Starting from getting loans with low interest rates to getting a house on rent, credit score has a vital role to play. So it is always essential to maintain a good credit score. Even if we have a bad score or a score below 650 it is always essential to recover from it. we can do it by ourselves with no help from credit repair agencies as going for credit repair with outside organizations will only result in spending dollars. In this forum itself you can find many post which will tell gives an idea of how to repair credit.

I agree with the fact that we can repair credit score by ourselves and be in an advantageous situation. But the main thing is that we can never improve credit score to very high levels once it falls. So it is always better to keep track of your credit report at regular intervals and fix any discrepancies with the credit reporting agencies if any by sending a dispute letter. It is always good to make the repayments timely and avoid entry of any missed payment in the credit report as it will stay in the report for seven years and lower your credit score.

As you 'go through life' you sure learn about credit!! Trying to 'start your credit over', after a bad circumstance is hard to do..and it doesn't happen overnight, that's for sure. Trying to deal with all of it can drive a person crazy!! But.......one day at a time,that's what I say. ( Wish I would take my OWN advice, sometimes..LOL)

Coming to these types of forums and getting involved with and staying involved with the conversations here that walk people through the process of taking care of a problem is a good way to learn about credit and the do's and don'ts of it. You can actually learn enough here to get a good start on repairing your own credit and saving yourself a ton of money.

I do agree that credit affects everything these days, from employment to the ability to purchase necessary items, your credit must be at least in the fair colum to get anywhere.

Working on credit and maintaining what you have now is an awesome idea.

I agree with you goodnatured. Credit related problems has become a part of our daily life and most of these credit repair companies take advantage out of it. So it is always essential to have a complete knowledge of credit and its related issues and this forum I think provides a good platform for learning credit issues.

What I think is that if we can track our credit report quaterly, we can solve the problems by ourselves without going for any credit repair programs. For this we should carefully have a look at our credit reports and report any discrepancies with the CRAs by sending them a dispute letter. In this way, at least some of the wrong listings will get out of our credit report and we can increase our score.

i totally agree with the above. i think sites that give ppl the tools and info to help themselves are a wonderful thing.

They are and you can learn through being actively law.

I agree with you goodnatured. These forums are a wonderful place to learn and solve credit related issues without spending any money. Actually from creditmagic, I have learnt a lot. Moreover, if you have complete knowledge about credit, you can save dollars which would otherwise go to the credit repair agencies,

I have learned alot here and gotten alot of good advice

I DO think credit is a 'major player' in 'standings' ( lack of a better word). However...I know the 'best' people, very sweet people, whose credit is horrible because of a horrible situation. Too many people judge others, too much, from a credit report.

While I agree that peoples character should not be judged by CS s I will point out that our economy depends on the credit scoring system. The current fraglie state of our economy is due to those loan sharks who gave ppl home loans they couldnt afford. Had those ppl been forced to improve their scores they would not have turned to those companys that rocketed their intrest rates up in order to try and pay for the loan.

and the result is that people can not afford these mortgages and end up foreclosing on the loans and the companies lose out. We see alot of it around here.

exactly, and now you see these huge companies (Fannie and Freddie) needing to be bailed out by the Gov.

I think the whole mortgage crisis is such a shame, one particular part that bugs me is the companies that come in and appraise the properties much higher than the property is worth, then they lend on that amount, knowing full well that they are doing the owner an injustice, then they talk them into a flexible rate and the owner ends up falling behind and losing their home. Some have had these homes in their families for generations, some are just starting out and end up with a foreclosure on their books at a very young age.

I hope the government puts some laws in place so that once we make it through this, that we don't end up in the same boat again. I just think the whole crisis is shame.

That really angers me to good natured. I have never seen so many home foreclosures in my life and it is a shame good places like Fannie and Freddie need help.

They do this a lot, over appraise propery and then give only the high intrest loans and then end up forclosing on them anyway. I feel really bad for this.

It is such a scam. There sure are alot of scammers out there now a days

"That is why it is so important to educate yourself and be aware of you situation.

It is like weeding an overgrown garden. You have trouble figuring out what is good and what is a weed. Frauds tend to disguise themselves real well.

good analogy, but I know where my cucumbers, tomatoes and watermelon are, LOL

Good. I like that. LOL

Yes, it is a regular happening where the companies over appraise the property only to lend money to the owners at high interest rates. The problem is that the the owners think that the property is worth the amount they got loan, but ultimately end up in unpaid debt resulting in either short sale or foreclosure of the property. So having a sound knowledge of the credit market helps us in avoiding such situations where we may lose the roof over our head. I have learnt many credit related issues from this forum and the ways to get out of such situation. It is a wonderful platform to learn, I think.

Luckily I have never come across any scams...but many of my friends and family members have been taken for a lot of money. Make sure you do tour research.

That nis a really good explanation MAry. I never thought people would take that kind of chance especially if it is their family home. Someone would really have to be hurting to take such a risk.