|
Article:
Getting the Perfect Credit You Deserve by: T.B. Collins In an attempt to describe perfect credit it is almost impossible to put into words because perfect credit is a myth. The best the majority of consumers can achieve is good credit, and this is due to the fact that we are human, and as humans we have a tendency to err. Yet, good credit is still a goal that is still unattainable by a large number of consumers because their credit is damage at a young age. The best concept devised is a report entitled 'Using Credit Wisely' that discusses how to use credit, but we come into contact with credit at an early age and start the damaging process, which leads us to a lifetime of bad credit!!! This phenomenon is accredited to the ease of gaining credit during the college years, when credit card offers are pouring in almost every semester we are enrolled. As students we are not yet aware of the consequences of using credit unwisely, so we use them to pay all of the expenses not covered by our tuition. Then after we graduate, we spend most of our time trying to find employment to repay all of those student loans we acquired, and often overlook the small debts created by using the credit cards we applied for to pay all our other expenses. Now, all of our accounts have gone to collection, even the ones we tried to pay but got behind on, collection agents are calling and we are doing our best to avoid their calls because with all of our other living expenses, we barely have enough for food. Eventually the collection calls slow down or completely cease, and we think it over, but it has only began, a few years later when we go to apply for a car or a home, those neglected credit card accounts come back to haunt us. This is a typical scenario faced by millions of consumers every day, but there is hope for those tying to repair the damage done in our earlier, uninformed years. And the answer rest in laws created by the Federal Government, in a form of laws that protects the consumer as-well-as helps them try to restore their 'good credit' rating. These law are entitled the Fair Credit Reporting Act, Fair Debt Collections Practice Act, and the Fair Credit Billing Act, if used wisely these laws can in affect help consumers? restore their credit to a status they can be comfortable with, if not 'perfect.' The first step in using these laws to our benefit is to acquire a firm understanding of what these laws cover, and the Federal Trade Commission has outline the text of these laws on their website http://www.ftc.gov. The next step is procure copies of your credit report, and this can be accomplished by purchasing them from the three consumer reporting agencies for a fee of usually $8.00 to $12.'00
|
