2022 Boise Idaho Real Estate Blog

Credit Scoring Part IV -- Credit Remediation

Main Boise Home Loans

This is the last article in a four part series on credit scoring.

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 websites 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.

Resource: Home Loan Calculater

 
Posted by Eric Leigh at 10/15/2007 3:43:00 PM

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