OpenWebMailArticle Directory and Reviews

Yeah, these myths has been spread very fast, and there are some trues you really need to know, once of the best examples is that you need a professional agency to do it for you, even they can help you to do it, you can do it for yourself. I did it so can you!, our next step will be to revel the truth from some of the most common myths about credit repair and debt consolidation issues.

Myth 1: I Can't Do It Myself

You may need help in many areas of your life, but credit repair and debt consolidation is not one of them, believe me you can do it, if I did it you can do it too. I still remember the first time I saw my credit report I realize I had some late payments, a judgment and some other stuff, in that moment my first thought was "I need immediate help with this" after getting some good education on the topic I was able to do it all by myself and now I am going to give you the best education possible on these topics (debt consolidation, credit repair, and debt management)so you can face this problem by yourself. After I had my credit report in my hands I start watching some huge mistakes, some of these mistakes were from the creditor, some other were from the credit bureau, and after making some more research I realize that anywhere from 75% to 90% of credit reports contain errors.

Myth 2: You can not fix your bad credit.

Not at all, having a bad credit rate does not mean you can't fix it, it may take you some time to do it, but you can definitely do it. There are several avenues to repair your credit, build positive lines of credit and returning on the good credit path. One of my most embarrassing stories occur me when I was applying for a Banana Republic card and I was denied in the middle of a very important Holiday, improving your credit it is just a matter of get the right education on the right topics and with my videos you will get all the education you need.

Myth 3: You Only Have One Credit Score

You have 3 credit scores, not just one, each one of this credit scores is from the major credit reporting agencies. all 3 will show different scores, that is why when applying for a credit one company may use one report while other company may use a different one, it is always a good idea to get the 3 reports from the different bureaus because they can have serious diferences.

Myth 4: Your score will decrease if you check it.

There are two types of inquiries that will appear on your credit report: hard and soft inquiries. Hard inquiries are from companies you wish to get credit from. These will affect your credit score. Soft inquiries are usually when you check your credit report online or from companies obtaining your information for promotional purposes. Soft inquiries don't affect your score.

Myth 5: Your score will be lower if you are shopping around for a Loan.

This is one of the most common myths, remember that if you are looking for a credit from several vendors (mortgage, car loans, home loans, etc...), all this inquiries will appear in your credit report just once but remember that this just apply if the same kind of inquiry is made within 14 days, the only exception to this rule are credit cards.

Myth 6: If I remove all the negative items my credit score will improve.

This is a partial true, because as a matter of fact erasing your bad marks is just one part of the whole solution, what will boost your credit score is building "positive credit". Can you still remember those days were you were turned down from a credit card company because you did not have credit? actually what they were trying to say is that you did not have build a "positive credit" with credit card companies.

"How to reduce your credit card interest rate with one simple phone call" this is a free advice

Is more simple than you think, and here is what you have to do: Get your telephone, dial their number and ask them to reduce your interest rate!!! just like that, by the way, tell them that you have sitting in front of you a credit card with a lower interest than the one they are offering you. Maybe a zero percent rates for the first 6 months, which after that period will turn into 8% rate. If you have a higher rate this technique will help you to lower it. Tell them that you are thinking in transfer your balance unless they decrease your interest rate, if you don't get a deal with the operator ask to talk with the supervisor, in most cases the threaten to leave them is the key.

Before declare bankruptcy go to Miguel Pancardo site and get his excelent free report on credit card debt consolidation online and how to get out of debt in his website.