Paying Up

Happy Holiday to all and to all a Happy New Year:

Lenders all over America are encouraging people to use credit cards.  There is several sides to this marketing ploy. I will try to stay on the topic Companies popping up all over the place promising to clear bad credit from your credit history for good.

Our country has gone poly-corrupt it may be possible to work a deal to remove credit information..  Only desperate individuals really fall in this trap.  Only time can remove incorrect or bad history from your credit reports. There is no secret to removing bad information. You can do it yourself.

First, all three major Credit Bureaus are authorities of and for the Federal Government.  The bureaus must follow their rules.  Consumers credit get bad when other companies report unpaid debt to the bureaus.  This information is required by LAW to remain on your record for at lease seven years.

This information changes daily. Think about this.  Only you know if the information in your credit history is correct. The company reporting this information has to be reached before the report is made to the credit bureau or afterwards.  Then someone would have to pay them to write the credit bureau to report that the information is incorrect.  You are the only one who can dispute the information in your credit history.

Then, the Federal Law requires the credit bureau to investigate your dispute within 30 business days.  Once the investigation is made the bureau must confirm or deny the information.  There are many more regulations the bureau must follow this is the main consumer  protection law.  Visit  the  FTC   http://www.ftc.gov and get the facts. If credit counseling is what you need visit the national consumer law information site: http://www.consumerlaw.org/issues/credit_counseling/index.shtml and use your time and money wisely.

~Bob Bee~