Have You SEEN Your Credit Report?

It’s quite shocking to find out how many people are afraid to see what's on their credit report.

Yes, you are not alone if you have yet to venture out to see what's on it. Now, the real shocking truth is finding out that there wasn't anything on it that might be considered horrific. But then again, we all have our own definitions about what's horrific or not when it comes to translating one's credit report.

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I recently spoke with someone that was curious as to the type of business I was involved in. I disclosed to this person how I help people rehabilitate their credit profiles. And as we continued to speak I asked him when was the last time he looked at his credit report and I chuckled a bit when he replied, "Why look at your report when you know it’s bad!”

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For the most part, he shares the same common sentiment the majority of the population feels. Our laugh broke the ice for him to feel at ease for him to pull his credit report and I began to show him why he shouldn't fear what was in it. All in all, his report wasn't bad nor was it horrific. All he needed was to focus on a few simple areas and his credit score would increase.

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This wasn’t the first time nor will it be the last time someone has shared with me how they have never seen their credit report. I've concluded that it's hard to see the cold hard truth with how our relationship with our money was like in the 'past'. In short, credit reports are personal. It is a personal snap-shot as to how we treated our money in the past. It is the tale of one's personal financial affair in vivid color. Which in turn creates the need to either hide or put on a mask if we 'know' we weren't good with our money therefore we 'think' our report will tell the tall tale. It may or it may not tell a tale or two but it's having the courage to see what tales are being told, which will give you a running start to either correct, modify or dispute any errors that can hinder your ability to move freely in a credit society.

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When it comes to NOT pulling your credit report keep in mind it is what you don’t know that could possibly hurt you.

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It’s true that your credit report can be confusing at times, however if you take the time to consult with trusted professionals, like myself, I am certain everything can be explained clearly, fairly and easily. It’s quite easy to access your credit report online and in the privacy of your home. I recommend pulling your report first before speaking to a credit specialist so that you can see what's on it and determine what items you understand and what items you don't understand.

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Always keep in mind this very important fact, as we discussed last week, credit is a necessity and having good credit is the deciding factor when it comes to purchasing a home, qualifying for a job, insurance premiums, car loan approvals, and many others. Don't be in denial, have the courage to pull your report and then do a jig for taking the plunge!

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For more info on a free credit evaluation please click here SCO To pull your credit for free, once per year, please click here Annual Credit Report

Have peace of mind! If you need me I am here to help anyone reach their credit goals. Have a great week! Eric Perry CEO Simple Credit Online

Are Credit Repair Companies Scams?

I know it can seem a bit bias coming from someone in the credit repair industry, but my answer to this question is definitely “NO”!

However, I believe there has been some misleading claims that have done more harm than good with the current perception of credit repair.

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It’s a fact that more than 79% of all credit reports have some type of errors that are reported. This can be caused by many different reasons, and some as simple as having a very common name. Before the Fair Credit Reporting Act (FCRA) was passed in the mid 90’s, there were no requirements for the credit bureaus to investigate and correct errors in a timely manner and thus created an exodus of people fighting rigorously to have errors removed. Since the passing of the FCRA there has been a surge of companies claiming to help you remove all negative marks on your credit; for a 'fee' of course. Many of the claims made by so called 'credit repair companies' (in my opinion) have been outrageous and in some cases untrue all together, which created a horrific environment of distrust amongst customers trying to rightfully repair their credit report profiles based on not getting what was promised.

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Although, most of the credit repair companies around now are legitimate however there still seems to be a stigma of distrust that have some customers leery of making the decision to use the services of a 'legitimate' credit repair agency. In today's credit climate there legitimate credit repair agencies (CRA’s) that have helped many satisfied customers and have the results to show for it. In fact CRA’s, are now heavily regulated by the Federal Trade Commission and in turn the FTC continues to investigate misleading claims.

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The most common claim consumers should be leary of is if a CRA 'guarantees to remove any or all negative items off your credit report'. Now, it’s true that questionable items can be removed from your credit, however it’s a flat out lie to guarantee that any or all items can be removed from your credit report. In most cases it will take time or some type of mediator negotiation to legally have items removed from your credit report. Keep in mind any type of credit repair is a process and just about any repair can be done for free.

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So, if you're asking, "If this can be done for free, why would anyone pay for credit repair?" Well, that answer is quite simple, I always explain to my clients it’s just like hiring someone to do your taxes, you know you could do your taxes on your own however some prefer to have their tax returns prepared professionally either for the sake of saving time and/or resources to learn all the tax laws required to prepare them. Plus, not to mention some have been fortunate to get the biggest and quickest possible return. Credit repair is the same way, you pay for a service and the peace of mind that your credit file is being handled by a professional that knows the industry at expert levels.

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In close, once again please don't take my word for this, there is a great article I would like for you to read called "7 Ways to Stop a Credit Repair Scam". Please take the time to read it an understand how you can protect yourself from any 'credit repair scam' especially if your decision to not CRA is preventing you from making a decision to repair your credit report profile.

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Have peace of mind! If you need me I am here to help anyone reach their credit goals. Have a great week! Eric Perry CEO Simple Credit Online

Is Credit Really A Necessity?

Anyone with good credit will definitely say “YES”!

Why? Well, for those who have good credit know they had to use-it 'wisely' in order to build it 'willingly'.

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Credit plays a major role in every financial discussion that takes place about your money. Especially when it comes to how business' generate their revenue by charging specific interest rates when they extend their credit to credit worthy individuals.

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Keep in mind, credit discussions have enabled business for years to find ways to capitalize on 'credit deficient folk' by charging higher interest rates. If you look at our current global credit landscape and compare the credit crunch crisis, all of this stems from how business' extend credit to those that 'should' get it now versus extend credit to those that should have never gotten it in the past.

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I’ll put it to you this way, a couple years ago everyone and anyone working or not was able to get approved for a home loan. The 'credit challenged individuals' appeared as 'credit-worthy' since lenders found avenues to raise interest rates in order to make tons of money. It was a win/win scenario for everyone UNTIL the 'credit challenged individuals' started to default on high interest rate credit loans; and the horrific ripple affect began. Now, Lending Institutions/Banks have wised up, stopped extending credit to non credit-worthy borrowers and began cherry picking only A+ credit individuals.

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Your creditworthiness is more than how many credit cards you have and it's more than the largest credit limit you have on one credit card. Your creditworthiness determines in many ways where you live, types of jobs will consider your employment worthiness and/or how you're treated in terms of your financial status. Credit isn’t something that shouldn't be taken lightly. Educating yourself on how to manage and maintain your credit lifestyle is the only way to stay on top of your finances. So, Is Credit Really A Necessity? ...…you can say that credit isn’t a necessity, but then again try to get a decent apartment, home, car or job with lousy credit and see if you have any issues. I am certain you will. In fact if you don't have any issues whatsoever please post your comments, I will be glad to read it and we can vent together!

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Have a great week! Eric Perry CEO Simple Credit Online

How To Tell Your Creditors They Are S.O.L!

Although each credit scenario is different...

...there are a few things to consider when trying to speed up your results to get a great credit score. The golden rule is to always pay your bills on time since this is the only true path to financial stability, except.... What happens if your credit debt is insurmountable to pay off while trying to pay your current bills on time? Some of you may think that the only way to get out of debt is to start paying back every single penny that you owe, however this is far from the truth. In fact, most companies will gladly settle a negotiated amount vs. nothing at all. This is where you must understand what SOL means. SOL means Statue of Limitation, and it will enable anyone to begin the process of leveraging how to negotiate your debt effectively in your state. Statue of Limitation or SOL simply means it's the amount of time, set by your state, that determines how long any company can file a claim against you to collect on debt that is owed to that company; or in layman's terms, 'it's the amount of time a company can sue you for what you owe them'. A lot of people are unaware of the Statue of Limitation (SOL) in their state, which can hinder even the best of intentions with trying to erase mounting debt. In short, since some are unaware of the SOL's Laws are in their state, companies are prone to take advantage of one's rights and proceed to bypass SOL Laws by collecting on a debt that they have no legal right to. For those companies that bypass SOL Laws, keep in mind, they generate millions out of this scam. Also keep in mind, for those individuals that continue to do the right thing by paying every single penny owed, this scam becomes a painful wake-up call especially when one’s SOL has expired in their state and that same debt is still being reported on your credit profile for up to seven years. For starters, my recommendation is to have your credit report evaluation done immediately BEFORE you start to pay off any bill that is considered late. Simple Credit Online will gladly evaluate your credit report for anyone at no cost. Second, after your credit profile has been evaluated, we will begin to utilize SOL Laws in your state as leverage by creating for you an effective blueprint to settle your debt for pennies on the dollar and then we will give you options with how you can begin to invest the difference of what you would have paid so that you can jumpstart your ability to generate revenue or make money on the debt you once owed. Lastly, please empower yourself and read this article called "Statute of Limitations on Debts". Please don't take my word at face value by only reading this insider blog report. Please take the time and educate yourself with the TRUTH. The truth will enable you to make informed decisions for you and your family; which will help you determine with 'whom' you should trust and why you should trust them. If you need to vent or if you would like for me to pull your credit report or if you want to do both, please feel free to contact me anytime. I am here for you!

Have a Great Week! Eric Perry CEO Simple Credit Online