The Importance of Good Credit
Do to the country's current economic climate bad credit is on the rise.
According to yahoo 30 to 35% of americans now have bad credit.
And according to badcreditoffers.
com 110 million americans have bad credit.
That's most of what "used to be" the middle class.
I say "used to be" because with the severe decline in incomes due to the large unemployment numbers the middle class is quickly becoming the poor.
So what's the significance of credit in this scenario.
Well did you know that many employers are now looking at your credit when you apply for a job? That's right if you have derogatory credit you may not get that job.
It seems unfair since the reason your credit went bad is probably from losing a job in the first place.
An excellent credit rating is mandatory today more than ever.
And many companies are jumping on the credit repair band wagon.
Knowing the importance of good credit has become a market of its own.
I've been in the mortgage industry for over 20 years and I have been approached on numerous occasions from supposed credit repair experts for clients.
Being in the mortgage industry I can honestly say I've seen my share of bad credit.
In the past I was a skeptic with regard to credit repair companies.
Many would just flood the bureaus with letters and items would temporarily get deleted but would reappear a few months later.
Now credit repair has become much more reliable.
There legals means to actually repair your credit permanently.
This is a good thing.
Good credit may get you employment, lower car payments or a house.
During the sub-prime mortgage era a person could purchase a home with a 580 middle fico score.
Today a borrower needs a middle fico score of 620.
That's just 40 points but 40 points can make all the difference.
I've seen adds on TV offering credit repair with the possibility of raising your score 80 points.
But let's say your score is 510, 80 points will raise your score to 590.
That's not much help is it? You still don't have the ability to buy a house, or get lower car payments or get that job.
Before you begin to get your credit repaired, check out all your options.
Compare success ratios and get an estimate of how far your credit score will be increased.
And most importantly compare prices and see if there are guarantees.
What sense does it make to clean up your credit to buy a home but it cost you the downpayment.
Or the credit repair company promises to clean your credit but want a $500 deposit and charge $80 per tradeline and if you have 10 or more tradelines that can get pricey.
Especially if the guarantee only reimburses the deposit.
I think most people can repair their own credit.
It may take some time on your part, but there's an excellent eBook called Credit Secrets Revealed.
The book is only $50 and comes complete with pre-written letters, all you have to do is fill in the blanks.
This book gives you step by step instructions.
If you can follow directions you can do this.
It's simple and affordable and gives you the capability to raise your score as much as 200 points.
So if you have a score of 510, 200 points will take you to a score of 710.
This is a permenent cure for your credit.
It's 100% guaranteed and it's extremely affordable.
Look for it Credit Secrets Revealed and start to turn your life around.
According to yahoo 30 to 35% of americans now have bad credit.
And according to badcreditoffers.
com 110 million americans have bad credit.
That's most of what "used to be" the middle class.
I say "used to be" because with the severe decline in incomes due to the large unemployment numbers the middle class is quickly becoming the poor.
So what's the significance of credit in this scenario.
Well did you know that many employers are now looking at your credit when you apply for a job? That's right if you have derogatory credit you may not get that job.
It seems unfair since the reason your credit went bad is probably from losing a job in the first place.
An excellent credit rating is mandatory today more than ever.
And many companies are jumping on the credit repair band wagon.
Knowing the importance of good credit has become a market of its own.
I've been in the mortgage industry for over 20 years and I have been approached on numerous occasions from supposed credit repair experts for clients.
Being in the mortgage industry I can honestly say I've seen my share of bad credit.
In the past I was a skeptic with regard to credit repair companies.
Many would just flood the bureaus with letters and items would temporarily get deleted but would reappear a few months later.
Now credit repair has become much more reliable.
There legals means to actually repair your credit permanently.
This is a good thing.
Good credit may get you employment, lower car payments or a house.
During the sub-prime mortgage era a person could purchase a home with a 580 middle fico score.
Today a borrower needs a middle fico score of 620.
That's just 40 points but 40 points can make all the difference.
I've seen adds on TV offering credit repair with the possibility of raising your score 80 points.
But let's say your score is 510, 80 points will raise your score to 590.
That's not much help is it? You still don't have the ability to buy a house, or get lower car payments or get that job.
Before you begin to get your credit repaired, check out all your options.
Compare success ratios and get an estimate of how far your credit score will be increased.
And most importantly compare prices and see if there are guarantees.
What sense does it make to clean up your credit to buy a home but it cost you the downpayment.
Or the credit repair company promises to clean your credit but want a $500 deposit and charge $80 per tradeline and if you have 10 or more tradelines that can get pricey.
Especially if the guarantee only reimburses the deposit.
I think most people can repair their own credit.
It may take some time on your part, but there's an excellent eBook called Credit Secrets Revealed.
The book is only $50 and comes complete with pre-written letters, all you have to do is fill in the blanks.
This book gives you step by step instructions.
If you can follow directions you can do this.
It's simple and affordable and gives you the capability to raise your score as much as 200 points.
So if you have a score of 510, 200 points will take you to a score of 710.
This is a permenent cure for your credit.
It's 100% guaranteed and it's extremely affordable.
Look for it Credit Secrets Revealed and start to turn your life around.
