Wednesday, December 3, 2008

I Can't Believe I Actually Read This!

Okay, this is what I read at the end of an article by someone who gives vague information about credit repair:

"Credit is a priviledge, not a right!"

OHHHH PULEEEEASSE!!!!! How much more bureau butt kissing do we have to take?

Here's my opinion. Credit is not a priviledge nor a right. It is a necessity. It is a requirement to buy ANYTHING that needs a loan, or more credit. Credit is a fact of life. It's not a priviledge, because anyone can get credit. Some may have to buy it up front in addition to paying for it while using it, or having it, but you could be an ax murderer and get credit! It's not a right, because as Americans we have the right to life, liberty and the pursuit of happiness, - and "Liberty", another word for freedom, kind of, well stretching it, could mean NO Credit obligations!

Okay, I'm being sarcastic. But the truth is, whether or not it's a priviledge or a right, or whatever, pretty much everyone needs it. And lets be real, pretty much every one has it. At least most people have a credit report. They might not have great credit, but even bad credit is credit.

So, how do you make that work for you? Well if you have good credit and a good score, keep on doing what you're doing. If you have mixed credit, some bad, some good, keep maintaining the good credit and let's get that bad credit changed or removed. Now, if you have bad credit, and only bad credit, well, we don't want to remove all those tradelines if we can avoid it, we want to change them and make them good.

Let's change that bad credit if possible. Now, if they're collection accounts, they're useless and you need to get rid of them. But, if they're original creditors, let's try to change those late pays into always current. Let's get those charge off's to show paid as agreed.

You don't raise your score a lot by paying off collectors. Bad credit is bad credit, paid or not. Collectors are bad! You need to just get rid of them. Old lates are fairly easy to get changed. You don't recall exactly when you paid something late. So tell them that. "I don't recall making a late payment in October, '04." "Please correct this trade line to show paid as agreed." Many times you will get a fresh report showing no lates on that trade line, which means an increase in your score!

Do that enough and you can be one of the "priviledged" people who has credit that they only have to pay for while they have it, and not up front when you apply!!!

Tsk, tsk!

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