4 CREDIT MYTHS
If you have a 300-699 credit score and want an INCREASE, I have a connection that legally erases negative things like repos, foreclosures, late payments, medical, student loans evictions and more... Comment “ ME” 404-667-3246 and I will get you started 💪🏼
There’s so much information floating around about building your credit that many consumers are getting confused about what ‘s true and what’s not. With that said, credit is important and necessary and it’s important that you
Below are some common credit myths that will help you in identifying false information:
Myth # 1 Credit Agencies are empowered with some kind of governmental authority?
Answer: Credit agencies have no legal authority at all, they are simply private companies who are in the business of selling credit information.
Myth # 2 The credit agencies are required by law to keep derogatory items on your credit report for 7 to 10 years?
Answer: There is no law that the credit agencies report anything on you at all. Credit Agencies are required by law to automatically remove all derogatory items older than 7 years or in the case of a bankruptcy, 10 years.
Myth # 3 It is impossible to get a bankruptcy off?
Answer: Bankruptcies come off just like any other derogatory that is incorrectly reported, obsolete, erroneous, misleading, incomplete, or that cannot be verified. Remember, the nature of the item has nothing to do with its removal under the Fair Credit Reporting Act.
Myth # 4 The information on your credit report cannot be changed?
Answer: The opposite is true under the Fair Credit Reporting Act; both the federal and various state laws REQUIRE that items be removed if they are not 100% accurate or cannot be verified in a timely manner.
. ✅Like,Tag And Share SingleMoms lifestyle FinancialFreedom thepowerofcredit realtors itsYourTime creditrepair 20kin2020 letsgo helpingothers homeownership 2020goals areyouready nurses teachers