Try Fixing This!!!
Everyday, consumers are subject to circumstances that could have
an adverse affects on their current living standards, these
include the loss of a job, or demotion from a higher paying
position that adds to the already tense situation they have been
placed in. These types of situations are the ones that tend to
lead to the loss of credit due to the financial setbacks, these
setbacks can take months or even years to fully recover from,
but the good news is that, It Can Be Done.
Eventually these consumers find a new job or move to a better
paying position, and the only thing left to do is fix their bad
or negative credit that was created by the previous setback. The
only problem is that fixing bad credit is not as simple as it
seems, evidenced by all the credit repair books available to the
consumer, but it can be accomplished. Credit repair or
restoration is a daunting task that requires patience and
persistence, and if you are just recovering from a financial
setback it may be advised that you do not enter into this task
lightly.
The first step to credit repair or restoration is to get a firm
understanding of your current credit situation, and this is
usually accomplished by obtaining a Credit Analysis. The
analysis can be obtained from a company like Millennium Credit
Service and the website is http://www.mmillennium-credit.com,
the credit analysis should give the consumer a clear
understanding of their credit situation, and a plan of action to
fix any problems that are contained on the credit report.
Once the Credit Analysis is obtained, the next step is to
understand the laws that where created to help consumers in your
situation recover from financial problems. The next stop after
visiting the Millennium Credit Service website is to visit the
governing body that regulates what can be contained on a
consumers credit file. This agency is the Federal Trade
Commission, and a link to their site is located on the
Millennium Credit Service website, these links address the
concerns that consumers with negative credit may have.
Now that a better understanding of what laws are available for
the consumer to help restore their credit, it is time to take
action. The credit analysis will give the consumer a starting
point in their credit restoration effort; the first step is to
ensure that all personal information contained on the credit
file is accurate. If there are negative entries contained in
your credit file that are incorrect, the consumer has the right
to dispute those entries by filing a dispute letter.
The dispute process gives the consumer the right to correct
inaccuracies contain in the credit report, and the agency
providing the report has thirty days to investigate the validity
of the entry, and if it can not be validated it must be removed
from the report. This gives the consumer the ability to ensure
that their credit report reflects an accurate representation of
how they handle their finances, so if the consumer has a income
related setback that causes them to develop negative credit,
they still have the ability to fix their credit in the future.