The quality of your credit has never been as important as it is today. Lenders have tightened their guidelines and interest rates are now determined by new Risk-Based Pricing models; the lower your credit score, the higher your rate, and every single point can make a difference. People everywhere are turning to credit repair professionals to help them clean up their credit reports and optimize their credit scores.

The Importance of Professional Help

There is a good reason that so many people are reaching out for credit repair help. There was a time when it was enough if you paid your bills on schedule. Those days are over. The advent of the complicated FICO credit scoring model has made a science of credit score optimization, while the complexity of the credit reporting system has made it more difficult than ever to identify and correct errors.

How to Find the True Credit Repair Pro

Credit repair is no longer a simple matter of spotting an error on your credit report and disputing it with the offending credit bureau. A working knowledge of the Fair Credit Reporting Act is a bare minimum requirement, while your credit score is dependent on many subtle factors, most of which have nothing to do with your ability to make your payments on time. It's a new world and the right help can make all the difference. Here are the essential qualifications to look for in a credit repair professional.

Knowledge of the Laws

A credit repair professional has an intimate knowledge of the laws that govern all of the participants in the credit reporting system. The credit bureaus are bound by the Fair Credit Reporting Act, collectors are governed by the Fair Debt Collection Practices Act, and state statutes of limitation will contribute significantly to the negotiability of collections.

Familiarity with Lender Remedies

Truly effective credit repair often must look beyond the credit bureaus and include lender cures and rehabilitation opportunities. Many lenders offer attractive programs that can get you back on track and even eliminate bad marks from your credit report. The credit repair professional will be able to guide you through the process of approaching creditors about these opportunities as appropriate. This multi-dimensional approach will insure that you get the best possible results.

An Understanding of the FICO Scoring Model

There are many variables involved in the process of credit score optimization, and everything matters; payment history, account balances and usage, age of accounts, account types and even the mix of accounts. A credit repair professional has in-depth knowledge of the FICO scoring model and will provide you with everything you need to know to manage the content of your credit report, strike the proper balance, and get the most out of your credit score.

Help With Rebuilding Credit

It is not unusual, after a period of financial stress, to have little or no open credit. Your credit scores are based on both the positive and the negative information on your credit reports. Effective credit repair must address both parts of the equation simultaneously. To focus only on removing erroneous derogatory information from your credit report will leave half of your credit repair potential untapped. A credit repair professional will help you rebuild your credit and manage your new debt for the best possible credit score results.

Putting it All Together

The genuine credit repair professional will address all aspects of your credit to insure that you get the best possible results. Everything necessary will be done to clean up your credit reports, improve your credit scores, rebuild your credit, and make you as lender-ready as you can be. In selecting a credit repair service make sure that their program covers every base. And trust yourself. Pick up the phone and interview your prospective choices before signing up. Write down a list of questions and ask away. Your credit is too important not to take the time to make the right choice. Good luck!

Copyright © 2008 James W. Kemish. All Content. All Rights Reserved.