A credit bureau - sometimes called a "consumer reporting agency" - is a business that collects relevant consumer information from creditors and courthouses, and then sells that information to interested parties such as potential lenders. Such information is sold in the form of a credit report. In the U.S., the three major credit bureaus are TransUnion, Experian, and Equifax.

When an account is unpaid for more than 180 days, a creditor usually writes off the debt as a loss on their financial statements. This is known as a charge off. Once a debt is charged off, it is either transferred to an in-house collections department or sold to a third-party collection agency who will likely contact you in attempt to recoup the balance.

There is no fast and easy answer to this question. The time it takes to repair your credit is completely dependent upon your personal situation. In that regard, RepairMyCredit2day.com values each member's unique situation and provides customized Game Plans to suit varying member needs. We work with you quickly to...

Although you have the ability to repair your credit alone, seeking the help of an experienced credit repair company is an option. A worthy advocate is defined by their actions. A good credit repair company will help you...

It's a common myth that negative items must remain on your credit report for a minimum number of years. In fact, there is no minimum timeframe. Creditors control the information they provide to the credit bureaus. They can also choose to remove negative items as well...

Credit repair is important because it directly impacts your financial health and ability to access various financial products and services. Here are a few key reasons why credit repair is crucial: 1. Improves Credit Score - Credit scores are a key factor used by lenders, landlords, and even some employers to assess your financial reliability. A better score typically means access to more favorable terms for loans, credit cards, and insurance policies. Repairing your credit can help raise your score, making it easier to get approved for these services. 2. Lower Interest Rates - Individuals with a higher credit score are often offered loans and credit cards with lower interest rates. A better score means less money paid in interest over time, which can result in significant savings. 3. Better Loan Approval Chances - Whether you're buying a car, a home, or applying for personal loans, having a healthy credit report increases your chances of getting approved. A poor credit history can lead to loan denials or stricter terms, such as higher down payments or co-signers. 4. Increased Access to Credit - If you have a damaged credit report, it can be challenging to get approved for new lines of credit. By repairing your credit, you can gain access to **credit cards, personal loans**, and other financial products that might have previously been unavailable to you. 5. Better Housing Opportunities - Landlords often check credit reports when renting out properties. A poor credit history might result in being denied rental applications or being asked to pay higher security deposits. Repairing your credit can improve your chances of securing housing. 6. Helps with Employment Opportunities - Some employers check your credit report, especially for roles in finance or positions requiring a high level of responsibility. While your credit score isn't usually a deciding factor, a clean credit report can reflect positively on your ability to manage responsibilities. 7. Reduces Financial Stress - Constantly worrying about poor credit or feeling like you're stuck in a cycle of debt can be stressful. By repairing your credit, you can gain a greater sense of financial control, reduce stress, and focus on long-term financial goals. 8. Eliminates Errors and Fraud - Credit reports sometimes contain errors or fraudulent activity that can damage your score. Repairing your credit includes reviewing your reports for inaccuracies and disputing any mistakes, which can help restore your credit health. 9. Enables Financial Freedom - With better credit, you have more flexibility in your financial decisions. You can get better financing for purchases, avoid predatory lenders, and build wealth with better access to affordable credit. In essence, credit repair isn’t just about fixing mistakes on a report; it's about improving your financial future, opening up more opportunities, and achieving greater stability and control over your money.

Make no mistake-bad credit comes at a cost. Credit affects every area of your life, from your ability to buy a house to the way potential employers view your application. Those living with bad credit understand the challenges it causes, including...

Several laws provide consumers the ability to question creditors regarding accounts that are ultimately reported to the credit bureaus. Everything appearing within a credit report must meet three consumer protection standards: Information must have been fairly reported, entirely accurate, and fully substantiated...

While bad credit does limit your borrowing options, it may still be possible to find a loan with bad credit. However, the question remains, is a bad credit loan worth the disadvantages it carries...