Credit Repair Facts and Self Repair Help

Credit Bureaus send consumers millions of credit reports every year and it is worth heeding the warning that negative items cannot be removed from a person`s credit report for a long time. Sometimes up to six years. As a result, most consumers believe they must endure a negative credit rating for years to come. However what if there is a mistake or you have improved a bad credit item and it is still showing as an unresolved issue? Credit Bureaus can be prevented from reporting information that is not `verified` or correct on your credit reports. They might only verify this information when you request them too. So try to be proactive about your report and contact creditors and the credit agency to make sure you get the best credit score you can.


Why Credit Repair?

Sometimes you can fix your credit, remove bad credit or simply just improve your overall credit report ratings. This is the process of carrying out credit repair. Your credit rating will impact on the availability of finance and the cost of any finance you are considering taking out. If anything on your credit profile is incorrect ensure you contact the credit agency to have it removed / amended from your credit report. All credit bureaus are required to verify every bit of information they report on both you and a vast range of creditors. The reality is that it is impossible to do this with every credit report, so the credit bureaus rely on the consumer to call attention to each questionable item. It`s just that simple. So check your report and you could start improving your credit today.


Credit Repair Loans

If you are in debt and having trouble keeping up repayments on your existing debts you may struggle to get a loan from your bank. One option may be to consolidate your credit into one larger loan over a longer period, so that you can afford the repayments. This can subsequently improve your credit score.

My Sort Of Loan`s lenders have loans available for homeowners who have missed credit or with poor credit profiles and have helped people who have been refused a loan elsewhere. We could help you to rearrange your finances, ensuring you are keeping on top of your financial commitments and stop missing payments. Over time your credit rating will improve, hopefully giving you better loan rate options down the road. In just a few years you could see a huge improvement in your credit profile.


Your Credit Report

You know that a mistake on your credit history can cause real damage. It may mean higher interest payments, an inability to obtain a loan or even the refusal of a credit card application. It could even prevent you from obtaining the job you would like, because some employers may check your credit history.

Thus, it is advised that you check your credit history first. There are a number of ways to obtain your credit report containing your credit history.


Who Keeps Your Credit History?

There are a number of credit agency companies that are in the business of collecting and distributing credit histories on all UK residents. Big players are Equifax and Experian which many high street lenders use. If you`re an average Brit, it is very likely that all of the big companies keep your credit history. They are competitors so each company may have a slightly different version of your information. This makes it necessary to obtain reports from all the main companies - to make sure that none of them has erroneous information in their files.