Keep It Good: Understand Credit Repair

Anywhere you can see with your eyes, there’s an advertisement relating to credit repair. It seems that credit repair is a term that you’re likely to come across at least one point in your life. But what does it mean, actually? Well, credit repair encompasses a series of actions meant to improve one’s credit scores. In plain English, a bad credit report is altered so that the person in question can get a loan or a mortgage, pretty neat, right? There’s a lot more to know about the subject, so keep on reading.

The mechanics of credit repair

It’s not enough to say that credit repair is a means by which something is achieved. The process is complex to say the very least and it does deserve attention. So, how does it all work? Does someone simply erase all the negative things from an individual’s credit history? No, of course not. Companies tell you what you have to do to improve your situation, having the legal expertise to do so. It’s important to understand that companies specializing in credit repair don’t encourage their clients to commit fraud. They’re well-intended and, most importantly, professionals. What’s more, these companies aren’t allowed to make alterations to the information that appears on your personal statements. So, what do they do? Operators help you effectively handle disagreements and intervening on your behalf.

Should you repair your own credit

So, you’ve got bad credit. Obviously, you want to improve it. Credit repair seems too good to be true and you’ve taken into account the possibility of fixing your own credit score. Well, that’s a terrible idea. Besides the fact that you don’t have the necessary financial know-how to do so, you can’t dispute any errors by yourself. The point is that there’s not nothing that you can do on your own, except for paying your bills on time. A credit repair service can help you, no matter if you’ve been the victim of identity theft or you have just not been able to make your payments. Clear benefits include resolving issues and saving time. Others you’ll have to discover for yourself.

Michael Mauboussin Tips From Great Investors [Pt.2]

charles munger moat valuewalk Charlie Munger competitive advantage great companies great brands GARP value investing value investors Google Alphabet profit margins Berkshire HathawayThis is the second part of a short series on Michael J. Mauboussin's research document reflecting on 30 years of Wall Street analysis published in 2016. Q3 2020 hedge fund letters, conferences and more The document outlined Mauboussin's observations of successful investors throughout his three decades on the Street. This article starts at point six. Read More

Yes, clear up credit report misunderstandings

Maybe you don’t think that hiring a credit repair company is a bad thing. You just don’t think that it’s worth it disputing the errors that have found their way in your credit report. Why Not? You have the freedom to challenge information that’s not accurate. What you need to understand is that your credit history will affect you in the long term. Let’s say that you want to take out a loan to buy a car. Let’s imagine that your kid is going to college. What then? You’re not a billionaire, so you don’t have huge piles of cash. The only thing you can do is try to take out a loan. If you’ve got a negative statement, your application will be denied. Do you still think that it’s not important to fight for your rights?