Credit Repair

Credit Repair has some essential components. We live in a imperfect world and as a result all mistakes on your credit report can be repaired. Documents and evidence provide the pathway to change and should be apart of any ones strategic management plan to conduct credit repair. After all it is a pathway to purchasing real estate listings.

It is important that you understand who the credit bureaus are:

BEACON at Equifax (formerly CBI)

EMPIRICA at Trans Union

The Experian/Fair, Isaac Model at Experian (formerly TRW)

It is greatly desired by lender, Realtors like Remax or Century 21 that you understand all the components of the credit report such as:

Identifying Information; Trade Lines; Inquiries; and Public Record and Collection Items.

The identifying information concerns the consumer’s name, address, Social Security number, date of birth, and employment data. The inquiries are not viewable to credit grantor.

Trade lines consist of all account activity reported by lender such as: account activity reported; beginning date of account; highest balance; current balance; identifying revolving credit and installment loans and indicating whether the account is current or delinquent.

The public record and collection items concern judgments, liens, collection items and bankruptcies. Collection items may also be identified in trade lines. The strategic management objective of the credit rating bureau is to identify risk. Past delinquencies charge-offs and defaults are the strongest indicators of risk. These indicators should be evaluated in relationship to severity, recency and frequency.

If any incorrect information about your credit is on your credit report and you have evidence and documentation to support your observations and conclusions you should get in contact with the following:

Equifax – (800) 685-1111

Experian (formerly TRW) – (800) 422-4879

Trans Union – (800) 888-4213

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