Mortgage Land Prosperity

Archive for June, 2009

Credit repair can make a major difference. More to the point, the alternative path of waiting and hoping that time will cure your credit headache is downright wrong. Time will not resolve your credit issues. Without some form of proactive credit repair you will find that the derogatory information on your credit reports will stick with you, often long after the official reporting period limit has expired. And to add insult to injury errors tend to spawn new errors and your problems may very well grow with time. Ouch.

The Real World Facts

This may be shocking to some, but welcome to the real world. The credit reporting system is not perfect, far from it. In truth, a thoughtful reading of the Fair Credit Reporting Act will reveal that the spirit of the Act, although certainly exhibiting compassion towards the wronged consumer, offers just as much consideration to the credit bureaus. And hence the need for credit repair arises.

A Shortfall of Accuracy

Again, are you surprised? Here is some insight that will illumine your understanding of the systemic need for credit repair. Regulatory legislation must be, by necessity, at least in a free market economy, even handed. The viability of the corporation must not be threatened. And this is as is should be. The Fair Credit Reporting Act is a safeguard against abuse that would, without a doubt, take the form of complete consumer neglect. It is not meant to enforce perfect accuracy on the part of the credit bureaus. In our world Big Brother will only go so far. Credit repair bridges the gap.

The Reasonableness Factor

Look carefully at the Act and the companion Staff Opinion Letters. You will soon notice the underlying theme of reasonableness of enforcement. None of the regulations incorporated into the Act are meant to be absolutes. They are consistently meant to be enforced to a degree of reasonableness, which is overtly defined as that which will not put undue economic strain on the health and wellbeing of the business. Yes, you read that right! The credit bureaus are expected to comply with the law only to the extent that it will not threaten their viability.

Time For Self Care

Do not be discouraged! We do not need the government to do everything for us. And what makes you think that that would be a good thing anyway. The last time I checked government entities were still the least efficient organizations in the world. Anyhow, as I said credit repair bridges the gap. And so be it. Personally I like the idea of monitoring my own credit. I am not a hard core control freak, but credit is really important and I propose that those with the greatest vested interest should always keep an eye on their assets. And so the desirability and even necessity of credit repair is not so much an onerous task, but a reasonable chore of self-care.

Most people would love to get a raise; but did you know that by lowering your bills, you’re giving yourself a raise? For every $100.00 a month that you can lower your bills, you’re getting a raise of about 60 cents an hour based on $1200.00 a year divided by 52 weeks and 40 hours a week. It doesn’t sound like much until you figure that most companies are giving 3% annual raises and you would have to make $20.00 per hour to get a 60 cent raise. Not only that, but $1200 would pay for a decent big screen T.V.

In this article, I plan on showing you a few easy ways to save money and with any luck, at least one that you didn’t think of.

The first thing you should do after reading this article is grab a notebook, PDA or some other way to keep track and start recording your spending. Write down every purchase you make, even a soda or snack from a vending machine. Keep it up for at least a month and then look at where your money goes. You may start to see a trend that you want to stop before the month is over and by all means, change it. You may also want to do this more than once. It’s a great way to keep from falling back into or developing new bad spending habits.

Take your lunch and snacks to work. If you spend $5.00 a day on fast food lunch and drink 3 sodas a day, you can easily save about $15.00 – $20.00 a week and that would be about $60.00 to $80.00 a month just by packing a lunch, not including gas and wear and tear on your car. Not to mention how much healthier it would be. You may only want to cut back on the lunches but it would still be a savings. Just a thought, you could use the extra time to read a book or just relax.

Buy Regular Unleaded gas unless your car requires higher octane gas. Check your owner’s manual to be sure. Most places charge 20 cents a gallon extra for Supreme over Regular Unleaded and unless you’re driving a sports car you won’t be able to tell the difference. Depending on your gas mileage this could add up quickly.