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The Responsibility Of Credit February 9, 2011

Posted by Chance Daily in About CredZoo, New Credit Information.
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It’s a fact that many of the things we want to buy must be financed or purchased on credit: cars, homes and electronics are just a few examples! To earn the ability to finance these items at a reasonable rate it is essential to maintain a good credit rating in America today.

Unfortunately, once you have had a bad credit rating it feels almost impossible to reverse or repair the damage.

Our country’s highly networked society of financial institutions record and store every bit of information about us and our money. They share that information with the credit reporting agencies who keep track of every person who buys on credit, making it impossible to “hide” or avoid a bad credit rating! Each time someone applies for credit, the financial lender will check their credit with at least one of these agencies.

To make matters worse, now, both Employers and Insurance Companies are making determinations about us based on our credit. That means that you could be paying higher insurance rates, or be passed over for that job or promotion because your credit is unfavorable.

It’s estimated that the average person with below prime credit is penalized $12,000.00 or more each year for their low credit score. It just doesn’t seem fair, does it?

It’s easy to see why it’s important to stay on top of your credit rating; especially when the Fair Credit Reporting Act places the responsibility squarely on you to make sure your credit report is accurate. The only problem with this responsibility is that there is no manual, no help file and no teacher to show you how to take on the task of correcting or repairing your credit! Without knowing of the resources available to them, most Americans just live with whatever is on their credit report.

If you are one of the millions of Americans who have had credit problems, do not give up! You have the ability – and the responsibility – to correct and repair your credit. Even if you have negative items in your report, such as late payments, liens, or bankruptcies, there are things that you can do to rebuild your credit!

CredZoo works with people every day to help them address, repair and restore their credit. Speak to one of the CredZoo advisors to learn how to get started. Your CredZoo advisor will work closely with you and help you get the credit you deserve.

Chance Daily

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Comments»

1. What is Subprime? « CredZoo - March 1, 2011

[…] is to check & repair your credit. You could try to go it alone, but as we discussed in our Responsibility Of Credit blog, no manual, no help file and no teacher to show you how to take on the task of correcting or […]

2. Using Credit Wisely « CredZoo - April 14, 2011

[…] The Responsibility Of Credit […]


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