Most of every person wants to do anything to improve credit standing and boost credit score.
But in 2008, due to global crisis and current financial difficulties, it seems to be impossible to achieve it easily.
Here want to first discuss about Credit Score Negative Marks
(1) Tax liens brought about by non-payment of real estate taxes. The federal government issues a tax lien as a security that the tax payer will pay its taxes due
(2) Non-payment of mortgage resulting to its foreclosure
(3) Late payment of credit card balances
(4) Late payment of utility bills or child support
(5) And any form of late or non-payment of any credit instruments
There are three main credit reporting agencies like The Transunion, Equifax and Experian who obtained free credit report which becomes possible due to the Fair Credit Reporting Act (FCRA).
FICO (Fair and Isaacs Company) is most common credit rating system which always used by credit reporting agencies.
Below are three common but important credit repair options like,
Credit Repair by Self-Initiative can be cheaper but consumes a lot of effort, time and patience.
If there are disputes in the credit report received, you have to make the effort to correct it either by discussing it with the creditor's authorized representative or writing correspondences.
Credit repair by attorneys can be the best option because not only it saves you time and effort, but as well as with the tactics they are going to employ owing to the fact they are knowledgeable of credit laws. However, you may need to pay a significant of money for their services.
Credit repair service by companies or organizations can spare you from the rigorous "due process" but may charge a certain fee for their services.