View Credit MD's Free Credit Repair Manual Below
or Download Here:

CreditMD has created this credit repair kit to assist those with the time and patience to gain the knowledge and tools required to receive the credit they deserve. It is important that you read this manual in full so that you fully understand your rights and learn the proper procedures involved in repairing your credit. With this knowledge and some effort on your part you will be able to quickly and effectively repair your credit and begin enjoying the financial opportunities you deserve. If after reading this manual you feel the need for professional assistance, please visit CreditMD.

The Basics

What is credit?

Credit is essentially your standing with the bank. Your credit essentially a direct correlation with the amount of money that banks, credit card companies, suppliers, etc. will loan you based on information about your ability to pay that money back to them within a reasonable timeframe at a specified interest rate. Your credit history is essentially a historical account of your relationship with past creditors. Your credit history, along with your current income and debt, is used by potential new creditors to determine how much credit to extend to you.

How does my credit become “bad”?

Your credit can be impacted by a number of factors, only some of which are within your control. Here are a few factors which may impact your credit report:

Whatever the root cause, a consumer’s credit is harmed when one of the major credit reporting agencies becomes aware of a negative factor and starts reporting it when lenders request your credit history to evaluate whether or not to extend you credit.

How do I know where I stand?

Most people find out that they have bad credit only when they get turned down for a loan. Not only is this embarrassing, but it can delay or even ruin plans for major advances in your life, such as buying a home or getting married. The only sure way to learn about our credit standing is by requesting a credit report from one of the major credit bureaus. Credit monitoring services are also available. Learn more on those topics below. Take control! If you learn one thing from us, it should be that the people with the least credit problems are those that monitor and manage their credit.

What will happen if I have bad credit?

The answer to this question is that it depends upon your particular situation. In some cases, you can set up a credit repair strategy that will get you back on track with your plans quickly. This can include restructuring your debt with a debt consolidation plan, simply becoming aware of and paying off your debts, or correcting errors on your credit report. Negative credit can result in you being denied loans, or being charged a higher interest rate. On the purchase of a home or a car, or during the life of the balance of a credit card, these higher rates can cost you many thousands of dollars. In some cases, bad credit can result in your being denied employment or promotion. Let there be no doubt: credit can affect every aspect of your life. That’s why it’s critical to be proactive about your credit. Even if you have had credit trouble in the past, by monitoring your credit and having a repair strategy in place you can mitigate the impact of your past credit problems.

Who can help me if I have bad credit?

Debt counselors can help you identify a good route for you. A professional debt consolidation or debt settlement company may be able to help you restructure your debt. But more importantly, you can help yourself. You can be proactive about your credit, monitor your report, and make sure that you don’t further harm your credit by making timely payments every month. If you do have errors on your credit report, they can be rectified and this will result in an instant jump in your credit. The tools you need are available to you, which is why we have created this manual. But there are also times when you may need outside help. If you need professional assistance repairing your credit visit CreditMD today.

Basic Credit Repair Facts

There is no way to remove correct information from your credit report. If a company claims they can, beware! One cannot legally remove accurate and timely negative information from a credit report. But the law does allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this, but you must be prepared to spend the time and effort to learn how to read your credit report, draft correspondence and persist in the removal of inaccurate information from your credit report.

The first step, of course, is that you must obtain copies of your credit reports from the three credit major credit bureaus. Click here to order your report from the three credit bureaus at once. Some people are reluctant to order their reports because they know they are bad. Don’t be deterred! This is the first step toward building better credit! Correcting even one error on your report can make a big difference.

About Credit Bureaus

Who are the credit bureaus and what do they do?

There is not one central credit bureau. Instead, there are three major credit bureaus, TransUnion, Equifax, and Experian. Sometimes they are referred to as “Credit Reporting Agencies” or “CRAs”. The credit bureaus maintain a database of information about consumers’ credit histories. The credit bureaus collect and keep records of information about your payment records from lenders such as banks, credit unions, finance companies, or retailers. This information is sold to lenders so that they may analyze your credit history in order to decide whether to grant you credit.

Are all three credit bureaus important?

Yes. Each of the major credit bureaus is a separate entity and your credit information may differ among the bureaus. Many financial companies will check the reports of all three credit bureaus when reviewing your credit. And even if they choose only one, they can always go with the bureau of their choice. Therefore, it is very important to verify that the information on your credit report is correct at each of the major credit bureaus.

When should I review my credit report?

Not at the last minute! Fixing credit errors can be a timely process. At a minimum, it is suggested that you view your credit reports from the major three bureaus at least every 6 months to a year. Do not wait until you are trying to buy a house or apply for a credit card to check your credit. Not knowing and understanding what is on your credit reports can cost you thousands in high finance charges or cause you to be denied for loans and lines of credit. Also with the growing threat of identity theft, it's important to make sure that your credit is monitored regularly. Click here to check your credit report now!

Should I use “credit monitoring”?

CreditMD suggests that everyone make use of a credit monitoring service, especially once their credit report is satisfactorily “cleaned up”. Today, credit report monitoring is affordable and extremely convenient and user friendly. There are a variety of such services, but the best ones alert you each time anyone accesses your credit report or when there are any changes to your credit report. In an age where identity theft is rampant, such reports enable you to keep more timely tabs on what is happening with your credit so that you can stop misuse or incorrect reporting before too much damage is done. Click here to learn more about credit monitoring today!

Where can I obtain my credit reports?

Many sources online offer the purchase of credit reports. This is probably the best way to go, because you can view the results instantly, keep an online record of them, and print them out easily. The easiest and fastest way to obtain your credit reports is in the form of a tri-merge report. A tri-merge report contains an easy to read listing of your credit history from the three major credit bureaus in one document. Click here to get your tri-merge report now! If you have applied for credit within the past 60 days and were denied credit due to your credit information, you are entitled to a free copy of that report. To obtain a free copy of your credit report you must mail the credit bureau that was used by the company that denied you for credit. Enclose the following information plus any fees that are applicable and mail your request to the proper credit bureau at the address listed below.

Understanding FICO Scores

What is a FICO score?

Also known as a credit score, your FICO score is the numeric representation of your financial responsibility based on your credit history. Each credit bureau creates its own FICO score for you on a scale of 300 –850 based on your credit information. The three FICO scores are the measure that most lenders look to when evaluating whether to approve you for credit. Your FICO score is created from the information that each individual credit bureau reports, so your score may be higher or lower at each of the three major credit bureaus depending upon their information. As your credit information changes your FICO score will go up or down depending on the information that has changed. Raising your FICO score a couple of points can result savings of thousands of dollars due to the lowering of your interest rates on new loans and can make the difference in whether you are approved in the first place. FICO scores provide information to the lender that allows them to evaluate the future risk of lending to you. Many lenders use the FICO score as a baseline and have their own strategy when making the final decision on whether or not you will be approved by them. There is no single "cutoff score" used by all lenders, basically the higher your FICO score the better chance you have of being approved. Also, while lenders may approve a variety of credit types, a higher FICO score will enable you to better interest rates and loan products. Click here to obtain your FICO score for FREE now!

Your Rights

You are protected by laws regarding your credit. A federal law, The Fair Credit Reporting Act (FCRA) was enacted to protect your rights in the area of credit reporting. The Federal Trade Commission enforces the Act. If you wish to view the full text of the Fair Credit Reporting Act click here.

What is the Fair Credit Reporting Act?

In 1972, based on pressure from various consumer groups and the growing use of credit reports, Congress passed the Fair Credit Reporting Act (“FCRA”) to regulate the relationship between consumers, creditors and the credit bureaus such as (Equifax, TransUnion, and Experian). One of the most important provisions of the FCRA for the consumer is that it allows one to challenge inaccurate, obsolete and misleading items as they appear on a credit report. The FCRA requires credit reporting agencies to remove all obsolete, inaccurate, irrelevant, outdated, misidentifying, incomplete, incorrect, erroneous, and misleading information from credit reports. You may dispute any item that you believe to be incorrectly reported on your credit report. The credit bureau then has 30 days to re-investigate the item, free of charge, and record the current status of the disputed information. If they can not provide current information within the 30-day period they must delete the item from your credit report. If an item is found to be inaccurate or incomplete or cannot be verified, the credit bureau must delete or modify the item and notify you of the change within 5 business days of the completion of the investigation. The credit bureaus must also provide you, upon request, with a description of the procedure used to determine the accuracy of the disputed item. This includes the business name, address and telephone number of any furnisher of information used in investigating the dispute. They must provide you with this information within 15 days of your request.

Make Sure Your Credit Report is Correct

The best way to avoid being a victim of reporting errors and identity theft is to be an aware consumer. According to a 1998 study by the Public Interest Research Group, out of the credit reports surveyed, 29% contained serious errors that could result in the denial of credit. Over 70% contained mistakes or errors of some kind, 41% contained incorrect personal demographic identifying information, 20% were missing major credit cards, loans, mortgages, or other accounts that are critical to demonstrating consumer credit worthiness.

Other past studies found that more than 3 in 5 consumers have negative information in their credit report, and nearly half of the studied reports contained errors. Some of the errors were serious enough to prevent the individual from qualifying for credit, serious errors like false delinquencies and judgments that simply don't belong to the consumer. As you can see it is very important that you check your credit reports on a regular basis to ensure that the information reported about your credit history is correct. When looking over your credit reports make sure to take your time and look over every item carefully verifying that all of your information is correct.

Do You Need Professional Help?

Now that you have gone through the information regarding credit repair, you should have a more thorough understanding of the procedures involved. Many people feel that professional credit repair help proves more effective and efficient than battling the credit bureaus on their own, which can sometimes be a confusing process for a novice. If you need professional assistance in repairing your credit, Credit MD can help you! Credit MD’s credit repair services can help improve your credit so you can have the financial freedom you have always dreamed of. You won't be gouged by ridiculously high interest rates any longer. You could buy a home or car without wondering if you will be approved. Let a credit repair specialist help you down the road to financial freedom at an affordable cost. We can also help you with various other financial solutions, including bad credit loans, debt consolidation programs, and more. Visit CreditMD and get started with your credit restoration process today!