Speed Up Your Credit Recovery

Credit repair can accelerate the process of returning you to a respectable credit rating. Taking action to improve your credit can reduce the recovery period from what otherwise could be seven years, to as little as eight months. When you add up the costs of letting your bad credit linger, year after year, you will come to appreciate the amazing value of credit repair.

The Burden of Bad Credit

How much does bad credit cost you? Let us say that you have a mortgage of $200,000, a car loan of $20,000, and two credit cards that you keep a rolling $2,000 on. A moderate case of bad credit could cost you an extra one percentage point on your mortgage, two extra points on your car loan, and five extra points on your credit cards. The cost of your bad credit would be an extra $5,000 per year. Credit repair should be considered a practical necessity.

Pretty Soon You Are Talking Real Money

Let us think about the extra $5,000 per year that your bad credit could be costing you. $5,000 translates into $416 dollars per month. Let us say that instead of giving that extra money to your creditors each month, you were to put it into an investment account earning five percent annually. In ten years you would have saved up $64,000. Are you getting the picture?

Other Potential Costs

Credit repair really pays off. And the truth of the matter is that your bad credit may be costing you far more than the example above indicates. So many areas of your life are touched by your credit; insurance premiums, employment opportunities, rental opportunities, and more. Each of these categories has the ability to magnify the impact dramatically. Getting turned down for a job could impose untold damages.

How About You?

Are you a candidate for credit repair? Probably, yes. Many people make the very costly mistake of believing that they should not entertain the concept because they were really delinquent in their past financial life. They may believe that this means that the derogatory information on their reports is automatically justified. The truth is not so self-evident.

Errors Abound

Allowing for the massive amount of data that the credit bureaus process, the credit reporting system is over-all quite decent. But errors do occur. The incredible fact is that people with genuine bad credit are the most prone to being victimized by errors. Credit repair is not about removing the accurate issues on your report, but the errors initiated by genuine events can add a crippling burden to an already soft credit profile.

Your Financial Destiny

This creates a terrible vortex of financial ruin for those that can afford it the least. Credit repair provides a remedy, a way of re-taking control of your financial destiny. Your actions can isolate the accurate information, eliminate the noxious errors, and rebuild solid, valuable new credit that will allow your credit scores to regain a solid measure of respectability.

Credit Repair is Cheap

The sooner you take action the better it will be. There is no good excuse for procrastination. Think of that $416 per month that you might be saving. What is the cost of credit repair? Very little. A good professional service may charge you $50 per month to manage the entire clean up routine and provide you with all of the guidance you need to get back in shape.

It is Up to You

Credit repair is the smart alternative. Do something for yourself today. Make the time to breathe life back into your finances. Do not sit back and be victimized by the inadvertent reporting errors inherent in the system. You have the ability to take control. It is up to you!

Copyright © 2010 Ian Webber. All Content. All Rights Reserved.

Author Bio: Ian Webber is an expert in consumer law and credit repair. Ian is a graduate of the London School of Economics and The University of Chicago where he earned his LLM. Ian consults with one of the leading online credit repair services and is currently based in Florida.

Category: Finances
Keywords: credit repair, credit repair services, credit report repair, credit scores, bad credit