This is the last article in a four part series on credit scoring.
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If you or someone you know is in need of credit remediation, and especially if you live in an area where this is an overall problem within the population, you should seek to align yourself with a credible referral source for credit repair. While government web sites will suggest that self-help may be the best option, keep in mind that people who have a history of credit problems usually lack discipline when it comes to their own discretionary spending and making payments. People that work like this, in my experience, are not likely to have the diligence to research and remedy their own credit problems.
The Federal Trade Commission regulates credit repair services, and they provide free information to help consumers spot, stop, and avoid businesses with fraudulent, deceptive, or unfair practices.
I have also developed marketing literature on the topic of credit repair, which I pass out to my clients to help them understand credit scoring. This provides them with information about what they can do to immediately help improve their credit score. Subsequently, in many cases, they are able to obtain the financing for the home they wish to purchase. I also try to set up a credit consultation with my clients to go over the steps they need to take to start building or improving their credit standing.
Regards,
Eric Leigh, Senior Loan Officer
Millennium Mortgage & Insurance, Inc.
PS: As a value-added bonus for our BuildingCredibility.com readers, we are now offering you a free subscription to both of our client monthly publications. The focus of our first monthly mailing is centered around providing you timely mortgage and financial industry specific information. The second is a YOU! Magazine subscription, which is centered around...well, you! Articles contain information about YOUR mortgage, YOUR health, YOUR family, etc. To start these free subscriptions, please email me at eric@ericsloans.com and ask for your subscription to the monthly mailings!