Articles by Stuart Hunter on ArticleSnatch.com

Three Failures of the FCRA

Wed, 25 Feb 2009 00:00:00 -0500

"It is the purpose of this title to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this title." A direct quotation from Congress, the previous text is the purpose of the Fair Credit Reporting Act (FCRA). In short, the Fair Credit Reporting Act was created to protect Americans against unfair practices of the credit bureaus. While this goal was a noble one, a quick look around today's credit systems shows the results have fallen well short of expectations. What follows is how the FCRA has failed to produce a just credit system for today's consumers. Three Shortcomings of Today's Consumer Credit Reporting System 1) Accuracy - It is documented that credit reports contain errors but it bears repeating. Recent studies indicate that nearly 4 in 5 of all credit reports contain errors such as duplicate listings, wrong dates, tradelines added to the wrong person's credit reports, and omitted positive credit accounts. **End Summary** Topics: credit report]]> FCRA]]> credit score]]> credit bureau]]> credit risk]]>]]> About the Author: ]]> For more information about the Fair Credit Reporting Act and how it affords you the right to legally clean up credit , visit Lexington Law, the trusted leaders in credit repair.

Is This Credit Repair Service Trustworthy?

Fri, 20 Feb 2009 00:00:00 -0500

Choosing a credit repair company is a big decision. Getting stuck with the wrong company could cost you hundreds or even thousands of dollars. And on top of that, if they are unsuccessful in repairing your credit, you have delayed achieving your goal of a good credit score by months or even years. And if that wasn't enough, getting caught up in a fraudulent credit repair service could even get you in legal trouble. So to help you with making a good decision and help prevent you from getting taken advantage of by a credit repair scam, here is a guide to shopping for a credit correction service. Below are some tips you can use to make sure you end up choosing a legitimate credit repair company to help you work towards achieving your credit goals. Know how the credit system and credit repair work Before you even begin searching for a credit repair service, you should know the basics of how the credit reporting system works. After all, you wouldn't go shopping for a new car if you didn't know anything about how to drive or how cars operate. **End Summary** Topics: credit repair]]> credit repair company]]> credit repair service]]> credit correction]]>]]> About the Author: ]]> Based on these criteria for finding a credit repair company for help with fixing credit , the preferred choice for many people is Lexington Law. Lexington Law is a legally compliant credit correction firm that has helped over half a million people take action on their credit.

A 700 Credit Rating isn't Good Enough When Refinancing your Home Loan

Thu, 05 Feb 2009 00:00:00 -0500

With mortgage rates plummeting, homeowners are flocking to lenders with hopes of refinancing their home loans at a lower interest rate and saving loads of cash in the process. On a $250,000 30 year loan, refinancing from 8 to the record lows in the 5 range that were reported in early 2009 would lower monthly payments by nearly $500. Over the course of the entire loan, this would amount to over $170,000 in savings. Most people, however, will not even be able to qualify for a refinance loan and an even larger percentage will not be able to get approved for the best interest rates. Having a better than average credit rating simply isn't good enough when it comes to getting approved for the best rates on a refinancing loan. Most people consider a 720 credit score to be a good score, says Chris Freemott, president of All American Mortgage, but to get the best possible interest rates on their loan, borrowers will need a credit rating of 740 or better. **End Summary** Topics: good credit]]> refinance]]> mortgage]]> credit score]]> credit repair]]>]]> About the Author: ]]> There are steps you can take to fix a bad credit rating . To find out if credit repair may be a good solution for you, Lexington Law offers a free, personalized credit consultation. You can receive your consultation by calling 1-800-214-0922.

There's Nothing Wrong With Asking for Help with Your Credit

Mon, 26 Jan 2009 00:00:00 -0500

If you've never done it before, you can try to bake cookies without a recipe. Sooner or later you'll get something you can choke down, but the kitchen will be quite a mess and you will have wasted a ton of time. If you've never done it before, you can try to repair your car's transmission by yourself. Chances are you're not going to drive your car for a while. And there will be a big mess in the garage. And if you've never done it before, you can try to repair your own credit reports. But, But as is the case with many repair jobs, using the trial-and-error method of credit repair could make things much worse, not better. You only have one credit history, and if screw things up while tinkering around, it may be years before you can get the mess cleaned up. You may even find yourself getting sued in the process. Think how much sooner you can be enjoying great cookies with an expert baker walking you through the process. **End Summary** Topics: credit repair]]> credit repair companies]]> credit repair service]]> credit correction]]> fix credit repair credit]]>]]> About the Author: ]]> Getting help with disputing bad credit is easy and usually pays for itself almost immediately when you consider the time and effort you would have to spend repairing your own credit. With experience helping over 500,000 people legally repair their credit, Lexington Law is the trusted leaders in credit repair.

4 Laws Making Fixing Your Credit Possible

Tue, 20 Jan 2009 00:00:00 -0500

Fortunately for you, half a century ago Congress recognized that the credit reporting system needed legislation. The practices of the credit bureaus and the agencies using the credit reports they provided were deplorable. American consumers were being abused by a system they had no way of influencing and no way of keeping in check. To combat these abuses, Congress enacted the Fair Credit Reporting Act which with its subsequent revisions has become the keystone for constructing your consumer credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what information is recorded on your credit reports and to dispute any questionable negative items they contain. Along with the FCRA, there are other consumer protection laws that give you certain rights when you are working with the creditors and collections agencies who provide information to the credit reporting agencies. By being aware of and making use of their rights under each of these statutes, consumers have been able to successfully fix their credit reports. Fair Credit Reporting Act The Fair Credit Reporting Act is what got credit repair started. **End Summary** Topics: credit law]]> credit repair]]> FCRA]]> fair credit reporting act]]> credit repair organization]]>]]> About the Author: ]]> You have certain rights regarding your credit including the right to legally fix your credit report by disputing the questionable negative items in your credit reports. You can work to repair your credit on your own or with the help of a reputable credit repair firm .

Thank the FCRA for Your Credit Rights

Mon, 05 Jan 2009 00:00:00 -0500

Before the Fair Credit Reporting Act, the credit reporting system was particularly unfriendly to consumers. Fortunately, many of the injustices of the system have been addressed and consumers are now able to do something about their credit rating. Most of us have heard horror stories about people who have had their credit ruined because of identity theft or credit reporting errors. They save for years to make the down payment on their dream home, and show up at the bank with smiles on their faces and a bounce in their step only to be dealt the crushing blow. Even though they have been perfectly responsible with their finances, according to their credit reports, they have a poor credit rating and are not a good candidate for a loan. It is scary how often this scenario plays out. All it takes if for a data entry worker to accidentally transpose a couple of numbers when entering a Social Security number and a bankruptcy can end up on the wrong person's credit report. When a lender sees the bankruptcy, they have little choice but to deny most loans. For people who find themselves in this situation, there is hope. **End Summary** Topics: fair credit reporting act]]> fcra]]> credit repair]]> fix credit]]>]]> About the Author: ]]> Since 1991, Lexington Law has been helping people make full use of their credit rights as established by the Fair Credit Reporting Act to legally repair their credit reports and fix bad credit .

What Does Credit Repair Mean?

Mon, 22 Dec 2008 00:00:00 -0500

Ask 10 people to define credit repair and you will probably get 10 different answers. Even amongst financial experts, there are disagreements about what credit repair is. So exactly what is credit repair? People on the far end of the spectrum will tell you that credit repair is a myth. That it is snake oil peddled by con-artists trying to separate you from your money. They feel that a bad credit rating is something you have earned and will have to endure without recourse. According to them, the only way you can "repair" your credit is to wait for the negative items on your credit reports to naturally fall off. Fortunately for people with bad credit, there is much more to the credit repair story than these naysayers want to believe. But this is not to say their advice is completely invalid. If your credit score is suffering, your credit will improve as the late payments, collections accounts, or liens naturally drop off your reports. Providing that new negative items are not added to your credit reports, time is absolutely an ally of the credit repair process. Sitting and waiting, however, is not credit repair. **End Summary** Topics: credit repair]]> repair credit]]> fix credit]]> bad credit]]>]]> About the Author: ]]> For more information about the credit system and about repairing your credit, the book Credit Revolution: Path of the Smart Consumer is an excellent resource. Written by three experts with years of experience in the credit repair field, Credit Revolution provides an easy to read yet extremely insightful guide to your credit.

No Interest, No Payment Plans and Your Credit Rating

Wed, 10 Dec 2008 00:00:00 -0500

Especially during the holidays, retailers offer no interest, no payment plans as a way for you to purchase that must have stereo system, dining room set, or recreational vehicle without having to put money down. For those who do not have enough cash on hand, this seems like an ideal way to get what they want now and pay for it down the road when their finances are in better shape. What many people do not realize is that these plans are often times not the perfect solutions they initial seem to be. Depending on the terms of the contract and whether or not you are able to make your payments when they come due, these types of agreements may result in you having to pay significantly more than you anticipated and can wreck havoc on your credit rating. To start with, even the most financially responsible consumer can see their credit score drop because they took advantage of a no interest, no payment sale. **End Summary** Topics: credit score]]> credit rating]]> interest rate]]> late payments]]>]]> About the Author: ]]> Learn more about your credit score by visiting Lexington Law, the trusted leaders in credit repair whose credit improvement services have helped clients remove millions of negative items from their credit reports.

Using Credit Repair to Take Advantage of the Credit Crisis

Tue, 25 Nov 2008 00:00:00 -0500

More than ever before, credit repair is becoming a necessity for people looking to get into a home or make other purchases on credit. Because of the current credit crunch, lenders are being forced into lending only to the most qualified recipients meaning that in some cases, a 700 credit score simply isn't good enough. As home prices continue to fall, those with excellent credit are being presented with the opportunity to take advantage of home bargains. But unlike previous years where people with sub-prime credit scores could still get into homes, albeit at a higher interest rate or using a non-conventional mortgage, people with low or in some cases average credit scores are being left out. Looking for a way to more quickly raise their credit score than simply waiting for it to improve on its own, many of these people are taking advantage of the many credit repair resources and services available to them. **End Summary** Topics: credit repair]]> credit crisis]]> credit repair scam]]> self credit repair]]>]]> About the Author: ]]> For 17 years, Lexington Law's credit repair services have been helping people legally dispute the questionable negative items on their credit reports. As the Trusted Leaders in Credit Repair , Lexington Law has helped clients remove millions of negative items from their credit reports.

Bad Credit and the Job Search

Fri, 21 Nov 2008 00:00:00 -0500

According to a recent survey by VISA, 80 of Americans did not know that bad credit can affect their chances of getting a job. What many people do not realize until they experience it firsthand is that employers have the right to refuse to hire job applicants because of their credit histories. Employers who investigate your credit reports as a part of the employment process argue that your credit history is a good predictor of your judgment, character, work performance, and reliability as an employee. Some consumer advocates argue against this and feel the practice is an unfair method of discriminating against job applicants. Regardless of which side of the story you agree with, the fact remains that the information contained in your credit reports could have bearing on your being hired for a new job. Tory Johnson of Good Morning America recently authored the article How Bad Credit Can Affect Job Prospects in which there are a number of good tips to keep in mind when applying for a new job. First among these is finding out if the employer will be requesting a copy of your credit reports. **End Summary** Topics: bad credit]]> employment]]> jobs]]> credit repair]]>]]> About the Author: ]]> Since 1991, Lexington Law has been helping clients legally dispute the questionable negative information in their credit reports. To date, Lexington Law's credit repair services have assisted with the removal of millions of these credit listings including over 600,000 in 2007 alone.

Repairing Your Own Credit: Is it Worth it?

Thu, 13 Nov 2008 00:00:00 -0500

As anyone who has researched credit repair has heard, you have the right to repair your own credit. In fact, Dr. Randy Padawer, who co-wrote the best selling "FICO(R) 850" seminar for The Motley Fool and "Credit Revolution: Path of the Smart Consumer", became a credit expert by becoming an uber-do-it-yourselfer when it comes to credit repair. You have probably also read that you can dispute the inaccurate negative items in your credit reports for free. Equifax, Experian, and TransUnion even provide a form on their respective websites to make this process easy for you. Something that you likely will not hear as often is that credit repair is rarely as simple as it initially seems. On its surface, repairing your own credit seems to be an easy process. You get a copy of your credit reports, find each of the inaccurate credit listings, dispute them with the credit bureaus, and wait for the bureaus to perform their investigations. Of course, if it really were that easy, there would be no need for any of the dozens of reputable credit repair companies. **End Summary** Topics: repair credit]]> credit repair]]> self credit repair]]> repair your credit]]>]]> About the Author: ]]> Self credit repair is rarely easy. Because of this, since 1991, Lexington Law has been helping clients legally dispute the questionable negative information in their credit reports. To date, Lexington Law's credit repair services have assisted with the removal of millions of these credit listings including over 600,000 in 2007 alone.

Accurate vs. Inaccurate Credit Listings

Wed, 29 Oct 2008 00:00:00 -0400

According to the FTC website “No one can legally remove accurate and timely negative information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete.” This is a message that seems very simple. In fact, many critics of credit repair and credit repair law firms such as Lexington Law will try to use this message to imply that the only recourse for people with a bad credit score is to wait for their credit to improve on its own. When you take time to research the laws surrounding credit reporting and your rights to dispute the negative information in your credit reports, however, you will find that the FTC quote above is much less black and white than critics of credit repair would have you believe. This mostly has to do with the idea of inaccurate vs. accurate when it comes to the information included in your credit reports. When we typically think of these terms, we think of them according to how they are defined in a dictionary. In the credit reporting world, however, these two words mean something different. **End Summary** Topics: credit report]]> credit score]]> credit repair]]> credit dispute]]>]]> About the Author: ]]> Since 1991, Lexington Law has been helping clients legally dispute the questionable negative information in their credit reports. To date, Lexington Law's credit repair services have assisted with the removal of millions of these credit listings including over 600,000 in 2007 alone. Learn more at http://www.lexingtonlaw.com

5 Reasons Lexington Law is Different

Thu, 11 Sep 2008 00:00:00 -0400

In 1991, Lexington Law Firm began offering credit repair services to the general public. Since then, Lexington has provided credit repair services to over 1/2 million credit repair clients and has essentially set the standard for the modern credit repair industry. Many of the largest credit repair companies today owe their success to the tactics and methodologies pioneered by Lexington. Today, Lexington Law continues to be a driving force in the credit repair industry. What follows are 5 traits unique to Lexington Law that set Lexington Law apart from all other credit repair organizations. Lexington Law Has 17 Years of Credit Correction History Many credit repair companies have come and gone since Lexington Law opened their doors. The fact that Lexington Law has been around for so long and continues to provide credit repair services for thousands of Americans is a testament to the quality of service they provide. It is also a reason why Lexington Law is so good at what they do. After 17 years of helping consumers with their credit, Lexington has learned what works and what doesn't when it comes to repairing credit reports. **End Summary** Topics: Lexington Law]]> credit repair]]> Lexington Law Firm]]> credit repair service]]> credit repair company]]>]]> About the Author: ]]> Since 1991, Lexington Law, the nation's largest credit correction law firm, has been helping credit repair clients legally take on their credit. More information about Lexington Law can be found at www.lexingtonlaw.com .

Get Your Credit Score Before Buying a Car

Thu, 28 Aug 2008 00:00:00 -0400

Most people acknowledge that maintenance and repair costs are a necessary compromise for the independence they gain from owning a car. But there is one important maintenance task everyone should undertake before buying a car; repairing their credit report. A poor credit score may not prevent you from getting a car loan, but it can force you into a much higher interest rate. Over the life of a five-year, $20,000 vehicle loan, a low credit credit can cost you between $4,000 and $8,000 in additional interest payments when compared to what you would pay with good credit. Paying your bills on time does not necessarily ensure a good credit score, either. Research by the National Association of State Public Interest Research Groups indicates that four out of every five credit reports contain errors. These errors can bring down your credit score, and your borrowing power. The experts at Lexington Law, a law firm that focuses on helping consumers dispute the negative items in their credit reports, offer the following credit maintenance tips to take care of before you go car shopping: - Pull your credit report once a year. **End Summary** Topics: credit score]]> car loan]]> credit report]]> credit repair]]> Lexington Law]]>]]> About the Author: ]]> Since 1991, Lexington Law, the nation's largest credit correction law firm, has been helping credit repair clients legally take on their credit. More information about Lexington Law can be found at www.lexingtonlaw.com .

8 Consumer Credit System Myths

Tue, 15 Jul 2008 00:00:00 -0400

Misinformation and half-truths abound in discussions about credit reporting and scoring. People have so many different ideas about what is true when it comes to dealing with their credit that regardless of the question you ask, you are liable to get a wide variety of conflicting information. At the end of the day, all this ignorance about the credit system does nothing but help the lenders and other financial institutions who use your credit information. If people simply knew a little more about their credit, they would be able to take steps to improve their credit. By improving their credit, people could avoid having to pay the high interest rates that pad the lenders profits. What follows are some of the myths people believe to be true about the consumer credit system. By distancing yourself from these defeatist fallacies, you can open yourself up to learning the truth about your credit and what you can do to manage it. 1) The Myth: The big three credit bureaus (Equifax, Experian, and Trans Union) are official agencies tasked with maintaining your credit reports. The Truth: These three companies are just that, for-profit companies. **End Summary** Topics: credit system]]> credit laws]]> credit repair]]> credit repair company]]> Lexington Law]]>]]> About the Author: ]]> Since 1991, Lexington Law, the nation's largest credit correction law firm, has been helping credit repair clients legally take on their credit. More information about Lexington Law can be found at www.lexingtonlaw.com .

Credit Repair Works, But Only If You Let It

Wed, 25 Jun 2008 00:00:00 -0400

There are few topics as polarizing as credit repair. Depending on who you talk to, credit repair is usually thought of as impossible, illegal, something you can only do yourself, or something you need professional help to perform. Rarely do you find someone with a perspective on credit repair that is not at the far end of one of these extremes. The fascinating thing is that in most cases, whatever people believe to be true will be true for them. The poster on the Yahoo! Answers forum who states that "there is NO SUCH thing as Credit Repair....it's a scam...." will never realize any benefits from repairing their own credit. By believing that credit repair is impossible, they are fulfilling their own prophecy by ignoring their rights to dispute their own credit. By not believing it can be done, they are proving their own point. This person, and every other person who ignores the possibility of credit repair, will fall into the category of people whose credit scores will only improve through the passage of time. The same is true of people who believe that credit repair companies do not work. Another poster on Yahoo! **End Summary** Topics: credit repair works]]> credit report repair]]> credit repair]]> credit repair scam]]> credit repair company]]> Lexington Law]]>]]> About the Author: ]]> For more proof that credit repair works , see the videos of actual credit repair clients at www.youtube.com/lexcredit . These videos detail the successes of clients of Lexington Law, the largest and most experienced provider of affordable credit repair services .

Using CROA to Avoid Credit Repair Scams

Tue, 17 Jun 2008 00:00:00 -0400

In years past, the credit repair industry was tainted by fly by night credit repair clinics and other credit fixing scams. Despite the need that many people had to get help with repairing their credit, it was hard to find a credit repair company they could trust. Today, the credit repair industry has matured thanks to increased awareness and federal regulation. The keystone of this regulation is the Credit Repair Organizations Act, also known as CROA. Recognizing the value of professional credit repair services, Congress enacted CROA in order to define appropriate actions of a credit repair organization and to outlaw many of the practices typical of a fraudulent credit repair clinic. While there are still some fraudulent credit repair organizations trying to take your money, by understanding the basic ideas of CROA, you can easily identify these scams and make sure you avoid them. Knowing what things credit repair companies are and are not able to do, will keep you from becoming a victim. Below are three key points of CROA and what they mean to you as you are shopping for a credit repair company. **End Summary** Topics: credit law]]> credit repair]]> croa]]> credit repair company]]> credit repair organization]]> credit law firm]]>]]> About the Author: ]]> The largest and most experienced credit repair law firm is Lexington Law. Lexington Law is a legally compliant credit repair law firm that has helped over 500,000 clients remove millions of negative credit listings from their credit reports.

Two Ways The Legal System and the Credit System Differ

Wed, 04 Jun 2008 00:00:00 -0400

The first difference between the legal system and the credit system is that in the legal system you are innocent until proven guilty. In the credit system, the exact opposite is true. In the credit system you are assumed to be guilty as soon as a creditor reports to the credit bureaus that you have been late on a payment or committed some other credit "crime". Once this has been reported, you immediately begin your punishment in the form of a decreased credit score. There is no investigation performed and there is no proof required. You are considered guilty the moment you are accused. At this point the argument could be made that when disputing an item on your credit reports, you are forcing the credit bureau and the creditor to prove your guilt but even this isn't completely accurate. When performing an investigation, the credit bureaus are basically asking the creditor if the negative listing should remain on your credit reports or if it was reported incorrectly. **End Summary** Topics: credit law]]> credit repair]]> Lexington Law]]> credit report]]> credit system]]> legal system]]> credit report repair]]> Lexington Law Firm]]>]]> About the Author: ]]> Because of the difficulty many people have getting fair treatment from the credit system , hundreds of thousands of Americans have enlisted the help of Lexington Law to help them with their credit. More information about Lexington's credit repair services can be found by visiting their site at www.lexingtonlaw.com.

Six Tips for Choosing a Credit Repair Service

Mon, 12 May 2008 00:00:00 -0400

Choosing a credit repair company is a big decision. Choosing the wrong company could cost you hundreds or even thousands of dollars, and if they are not successful, you have delayed your goal of a good credit score by months or even years. And if that wasn't enough, using a fraudulent credit repair service could even get you in legal trouble. So to help you through this process and help keep you safe from getting taken advantage of, here is a guide to shopping for a credit repair service. Below are some tips you can use to make sure you end up choosing a legitimate credit repair company to help you work towards achieving your credit goals. Know how the credit system and credit repair work Before you even begin searching for a credit repair service, you should know the basics of how the credit reporting system works. After all, you wouldn't go shopping for a new car if you didn't know anything about how to drive or how cars operate. **End Summary** Topics: credit repair company]]> credit repair firm]]> credit repair tips]]> credit repair organization]]>]]> About the Author: ]]> Based on these criteria for finding a credit repair service , the obvious choice for most people is Lexington Law. Lexington Law is a legally compliant credit repair law firm that has helped over half a million people take control of their credit.

Tips For Finding The Best Credit Repair Company...And Avoiding a Credit Repair Scam

Mon, 07 Apr 2008 00:00:00 -0400

Getting started with repairing your credit is one of the very best things you can do for your financial well being. At the hands of the credit system, you are being abused in the form of inaccurate reporting and an unfair credit scoring model. Through credit repair, you can do your part to make sure you get the credit score you deserve - a credit score that is truly indicative of your credit worthiness. Choosing the right credit repair company to help you achieve your credit goals is pivotal. What follows are tips and things you should look for when choosing the best credit repair company for you. 1) Look for a credit repair company with experience An experienced credit repair company will have taken the time to learn what tactics work best for each type of dispute. Having a large number of clients and a track record of removing many items means that a credit repair company has enough information to know what works and what does not. 2) Look for a credit repair company that has been in business for a while Credit repair, like many other industries, has it's fair share of scammers. **End Summary** Topics: credit repair company]]> credit repair firm]]> credit repair tips]]> credit repair organization]]>]]> About the Author: ]]> Based on these criteria for finding the best credit repair company , the obvious choice for most people is Lexington Law. Lexington Law is a legally compliant credit repair company that has helped over half a million people take control of their credit.

The Laws That Make Credit Repair Possible

Mon, 31 Mar 2008 00:00:00 -0400

Fortunately for you, decades ago Congress recognized that the credit reporting system needed an overhaul. The practices of the credit bureaus and the creditors using the credit reports they provided were abhorrent. American consumers were being taken advantage of by a system they had no way of influencing and no way of keeping in check. To counter this, Congress enacted the Fair Credit Reporting Act which with its subsequent revisions has become the keystone for constructing your credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what is being reported on your credit reports and to dispute the negative items they contain. Along with the Fair Credit Reporting Act, there are a few other consumer protection laws that give consumers certain rights when it comes to working with the creditors and collections agencies who report to the credit bureaus. By taking advantage of their rights under each of these statutes, consumers have been able to successfully repair their credit. Fair Credit Reporting Act The Fair Credit Reporting Act is what got credit repair started. **End Summary** Topics: credit law]]> credit repair]]> FCRA]]> fair credit reporting act]]> credit repair organization]]>]]> About the Author: ]]> You have certain rights regarding your credit reports including the right to legally repair your credit by disputing the negative items in your credit reports. You can work to repair your credit on your own or with the help of a reputable credit repair firm .

Fair Credit Reporting Act Report Card

Fri, 14 Mar 2008 00:00:00 -0400

"It is the purpose of this title to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this title." In the words of the U.S. Congress, the previous paragraph is the purpose of the Fair Credit Reporting Act (FCRA). In short, the Fair Credit Reporting Act is designed to help protect consumers against unfair practices within the credit reporting system. While the mission of the FCRA was a noble one, a quick look around today’s credit society shows the results have fallen well short of expectations. What follows is how the FCRA has failed to produce a fair credit system for today’s consumers. Detailing the Failures of the Credit Reporting System 1) Accuracy - It is well documented that credit reports contain errors but it bears repeating. Recent studies show that almost 80% of all credit reports contain factual errors such as duplicate listings, incorrect dates, tradelines placed on the wrong person’ **End Summary** Topics: FCRA]]> Fair Credit Reporting Act]]> credit report]]> credit score]]> credit repair]]> FICO]]> VantageScore]]>]]> About the Author: ]]> The credit system under the Fair Credit Reporting Act is unfairly punishing millions of Americans but fortunately you have the right to work towards a fair and accurate credit score. Whether practicing credit repair on your own or with the help of a credit repair expert like Lexington Law , you start the process of taking control of your credit immediately.

Credit Bureaus: Friend or Foe?

Tue, 12 Feb 2008 00:00:00 -0500

They wield tremendous power over your life - and the lives of every other bill-paying American adult. But what do you really know about the credit bureaus? Friend or foe? Fact or fiction? Survey after survey suggests that the average American knows little about consumer reporting agencies other than that they essentially control consumer credit profiles - and as a result, their buying power. And that's how the credit bureaus want it, argues Dr. Randy Padawer, a clinical psychologist whose research into consumer credit has been featured in Smart Money Magazine and the bestselling FICO 850 seminar for The Motley Fool. "The three major credit bureaus truly want consumers to believe that they've each been blessed with an officially sanctioned franchise," says Padawer, who has consulted for Lexington Law, a firm that helps consumers remove errors and negative information from their credit reports. The fewer facts you know about the credit bureaus, the more difficult it will be to correct a problem when one shows up on your credit report. And the odds are that an error will appear; **End Summary** Topics: credit repair]]> Lexington Law]]> credit bureaus]]> fix bad credit]]> repair credit]]>]]> About the Author: ]]> Lexington Law is a consumer advocacy law for that focuses on credit report repair . In practice since 1991, Lexington Law has helped over 400,000 clients improve their credit. In 2007 alone, the clients of Lexington Law saw over 602,879 items deleted from their credit reports.

Credit Repair is More Than a Right, It's Your Responsibility

Wed, 06 Feb 2008 00:00:00 -0500

The majority of Americans have errors and other unverifiable information on their credit reports that could be dragging down their credit score. Odds are good that your credit score is lower than it should be. The unfortunate thing is that odds are you will be yet another one of the millions of Americans who will continue to suffer with an unfair credit score because you will do nothing to repair your credit. Most Americans want to believe the credit reporting system works; that people earn their bad credit and there is nothing they can do about it but wait for seven years. But study after study shows the credit reporting system frequently does not work. This is why the Fair Credit Reporting Act and other consumer protection legislation give you the right to do something about it - the right to make sure your credit score is as good as it can be. So why is it that, though everyone has the right to dispute the negative items in their credit reports, very few people do? It certainly can't be because they don't understand the importance of a high credit score. **End Summary** Topics: credit repair]]> Lexington Law]]> credit repair rights]]> fix bad credit]]> repair credit]]>]]> About the Author: ]]> Lexington Law is a consumer advocacy law for that focuses on credit report repair . In practice since 1991, Lexington Law has helped over 400,000 clients improve their credit. In 2007 alone, the clients of Lexington Law saw over 602,879 items deleted from their credit reports.