Credit Myths

Reality

The Federal Fair Credit Reporting Act has established your right to repair your credit. Although Credit Bureaus will have you think that you are powerless to affect your credit record, the government has put specific laws in place to protect you and your credit.

You are not alone in your frustration with Credit Bureaus. The most common complaints received by the Federal Trade Commission are about Credit Bureaus. They are not always honest or fair. You will avoid a lot of confusion if you can remember that Credit Bureaus are out to protect their own interests. They invest significantly in media campaigns not aimed at helping consumers but geared towards discrediting businesses that try to get the truth out to the every day consumer.
Myth 2
Fixing your own credit is easy.

Reality

Credit Bureaus would like you to believe that you can fix your credit all on your own. Although you may be able to take care of some discrepancies, the truth is that you will not have the knowledge or the know-how to thoroughly clean your credit record. Encouraging you to fix your credit yourself only serves to benefit the Credit Bureaus. There is no reason to go it alone when for just a small fee you can make use of the best Credit Solution Repair in existence!
Myth 3
It's not possible to repair your credit

Reality

You can repair your credit. Although many believe that a negative credit item has to stay on your record for 7 years. This rule is not set in stone. First of all, collection agencies often keep negative listings on your report for more than 7 years. Furthermore, credit grantors are free to remove a negative listing at any time they choose, even before the 7 year period.

Our system will clean your credit record. We simply know how!
Myth 4
Credit repair can not be done without a lawyer or credit repair service

Reality

In a nutshell, no you do not have to use a lawyer or credit repair service to fix your credit. Although the legal industry advertises their services in a way that makes you feel you need a lawyer, this is not the case. In most cases, lawyers draw the process of credit repair out in order to extract higher and higher fees from you. Since they charge their customers on a monthly basis, they make more money the more months they often take to resolve credit issues for you.
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Myth 5
You can fix negative items by paying the bill

Reality

Paying the bill on a negative credit item will not necessarily improve your credit. Late payments are allowed to stay on your credit record for 7 years. If you have had a bankruptcy, it can legally stay on your credit record for 10 years! One of the things you will learn by working with us is how to pay off any negative listing in an effective way so as to change the status of the listing and gain a positive status.
Myth 6
A few negative items won't affect my credit much

Reality

All negative credit will have a bad effect on your attempts to secure credit. In most cases, credit is granted to your or not granted based on a computer assessment. This assessment is taken from every aspect of how you have paid your bills, how much you owe, and many other factors.

You can be denied credit based on as little as two or three negative items. This is true even if you have many positive credit items listed. Basically, you are aiming to have least amount of negative listings on your credit record as possible. Logically, the lower the number of negatives on your credit record, the higher your credit score will be.
Myth 7
It is not possible for certain negative things to be removed from your credit.

Reality

Although the 'credit bureaus would have you believe this,we know that every type of negative credit listing imaginable can be removed from your credit record. It is not really about bad the negative listing on your credit card is, it's really about how the system works. Yes, bankruptcy and unpaid debts are hard to remove from your credit however it really is just a matter of know 'how' to remove these items.
Myth 8
I can get help to repair my credit from debt consolidation companies

Reality

Consolidation companies and consumer credit counseling services (CCCS) fall under the umbrella of companies that offer advice and help individuals fix their credit however if the truth be known, these companies are usually funded, and therefore controlled, by credit grantors and credit bureaus. Even so called non-profit debt advice companies are some of the wealthiest companies in the business. The bottom line, everyone is making a buck off your debt!

Debt consolidation can save you money by paying off your debts, freezing interest on those debts and putting all of your debt in one place. This gives you one lower payment to pay each month and can help you pay off your debt quicker than would have been possible the conventional way. Still, these companies do make money off you and your first payment and part of your monthly fees will go to them. Worst of all, if you .
Myth 9
It's not worth repairing my credit when negative listings will just come back

Reality

This is not true. Once you remove a negative item from your credit report it will stay gone. Of course, the credit bureaus via the media have encouraged this myth specifically t discourage you from going through the process of repairing your credit.

The fact is, the Credit Reporting Act protects you by laying out strict guidelines to keep credit grantors in check. They must inform you if they plan to re-post a negative listing back onto your credit report.
Myth 10
It is best to just file for bankruptcy or get a new social security number

Reality

Obtaining a new social security number to get a new credit record is fraud. You will be caught and prosecuted if you attempt to use this method. Steer very clear of obtaining a new identity to repair your credit.

Bankruptcy is a very extreme solution to credit problems and one that should not be stepped into lightly. In far too many cases, bankruptcy lawyers do not fully explain the lasting consequences of filling for bankruptcy. It is very difficult to remove the record of bad credit once you have filed bankruptcy and the bankruptcy itself will stay on
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