If you’ve ever applied for credit – whether it was something small, like a cell phone, or a larger purchase like a car or a home – you probably know what it feels like to wait for your credit application to be approved. Depending on how much you know about your report, and credit in general, it can be an interminably long wait filled with stress and anxiety. After all, just about any purchase decision you make is influenced and determined in some part by the information contained in your credit report, and most people simply accept what’s on their reports without even questioning what’s there, much less investigating and disputing any errors or making an effort to repair their credit.
Credit reports can (and often do) contain inaccuracies and errors Errors?
On credit reports? Yes, as it turns out, the credit bureaus are fallible, just like the rest of us. But don’t blame them. They manage an enormous amount of data each day, and even under the best circumstances, errors are bound to occur. The fact is, the credit bureaus make every effort to verify the data that’s reported to them by your creditors. But at the end of the day, the bureaus report the information they receive from your creditors. Miss a payment on that new boat? The credit bureau doesn’t know to report it until the company financing your boat makes them aware of it, and this is where many errors occur.
Hiring a Credit Restoration firm to repair your credit can dramatically increase your chances of success.
The credit bureaus exist in large part to support finance companies and lenders in determining credit worthiness and without the data reported to them by these very same companies, there wouldn’t really be any credit bureaus. All the same, the information that’s contained in your credit reports is used to determine your lifestyle, with complete disregard to you as a person, whether you like it or not. The truth is, in financial terms you are only as good as your credit score. But you can repair your credit, and fix any errors that may be on your report, and change your financial standing, and your financial future, in the process.