FLORIDA MORTGAGES
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FLORIDA MORTGAGES |
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Credit Help
Let's talk about credit reports and the errors that are probably in yours. I have seen on the Internet and heard from more than one source, including my experience with my mortgage clients, that more than 70% of all credit reports contain errors. That is a rather astounding number to deal with when so much of your financial life is controlled by the information contained in your credit report. How do you know if there are errors, and what can they mean and most importantly, how do you fix them ? Most of us never find out what is in our credit report until we have been turned down for a loan and sadly, most of us never order the free report to find out why. First there are three credit repositories whose sole function in life is to verify how well you pay your bills. Unfortunately for all of us, that information is not necessarily correct and worse yet, not the same. Based on a number of credit parameters set by the lenders, you probably won’t qualify for a loan if you fail to meet all of them. You should order a credit report from each of the repositories every year and review the information to make sure your information is correct. The cost is normally $8.00 per report unless you have been recently been turned down for a loan, then the reports are free but YOU must order them. You can even order from one of them here. To make matters a little more complicated, the credit people and the lenders take the position that you are guilty of bad credit until you can prove yourself innocent. This proof must come in the form of paid receipts, statements from the companies who reported your bad credit or you can challenge the repositories to re-verify with the creditor, your information. This process can take 30 – 60 days or longer to correct erroneous information, and only if you are extremely fortunate. CREDIT REPORT FAIRY TALES 1. Bad credit information is deleted after 7 years so if I just wait, I won't have to pay. 2. My ex is supposed to pay those bills because the Judge said so in my divorce. 3. I gave that house to my ex and had to sign a quit claim deed. They are responsible now. 4 Yes, the car was repossessed but I was only the co-signer so I can't be responsible. Besides, they sold that car. 5. All that was in my bankruptcy. I don't care what that report says. Correction of errors in your credit report requires several things: the patience of Job, the tenacity of a Pit Bull, the mental strength of Einstein, the stubbornness of a two year old in a toy store, the charm of Casanova, and any other platitude you can think of to realize, it won’t be easy and it won’t be quick. You can’t give up and you can’t give in. This is just another of life’s nasty little games and to win, you must understand the rules and train for the contest. Please give me a call or use my e-mail below if you need help with the rules or the training . Cal Shaw (727) 596-1074
You can order your credit report now.....
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You are visitor 07/23/2001 |
