Bad Credit Scores Mean You"ll Be Spending More
I recently put myself into a situation where I was helping people with credit repair.
Or so I thought.
At first, these people calling me up were in the market for a rent-to-own home and/or looking to get financing for a vehicle.
Unbeknownst to them, I was to determine if they were credit worthy and if not, redirect them to a major credit repair agency.
What I didn't know and now know is that these large credit repair agencies are making money hand over fist to keep these clients (they pay a nominal monthly fee) for at least 18 months.
Then, I found that there's a much better way.
Since then, I've learned that one can clean up one's credit pretty nicely within 6 or 7 months with some professional guidance - spelled out, totally transparent.
This is the way I like to operate! Did you know that there are 55,000,000 Americans spending an average of $735 per month in excess insurance premiums and interest expenses (credit cards, home and auto loans, etc.
) because of their bad credit.
That's almost $9000 a year! That's a lot of money! The credit bureaus are not government organizations.
They are for profit companies that make more money from people with bad credit than they do from people with good.
Don't you think that that would be a very good reason for them to keep you down? They do this by giving you only half truths so you believe what they tell you about how tough it is to change their seemingly official reports.
CREDIT BUREAUS - YOU KNOW THE THREE OF THEM - ARE IN IT FOR THE MONEY! Credit bureaus make their money by selling the contact information for the people whose credit scores they compute.
A person with a credit score lower than 640 is worth $145 bucks a year, while that SAME PERSON with a 700+ score is worth only $85 bucks a year.
Basically, credit bureaus are lead generation companies.
Nothing more.
They make lots of money selling your very personal information to others.
The worse your credit, the more they can charge.
Do you think they make a chunk of change on selling those contact's information that are receiving 24% interest credit card offers in the mail? Make sense? You may think that the difference between $145 and $85 isn't much, but multiply that by the 55 million people with bad credit, and we're talking some serious cash here for the credit bureaus - about 3 BILLION dollars.
I hope that they're not spending any of our hard earned money to keep our scores down...
What do you think? Make you mad? It sure does me!
Or so I thought.
At first, these people calling me up were in the market for a rent-to-own home and/or looking to get financing for a vehicle.
Unbeknownst to them, I was to determine if they were credit worthy and if not, redirect them to a major credit repair agency.
What I didn't know and now know is that these large credit repair agencies are making money hand over fist to keep these clients (they pay a nominal monthly fee) for at least 18 months.
Then, I found that there's a much better way.
Since then, I've learned that one can clean up one's credit pretty nicely within 6 or 7 months with some professional guidance - spelled out, totally transparent.
This is the way I like to operate! Did you know that there are 55,000,000 Americans spending an average of $735 per month in excess insurance premiums and interest expenses (credit cards, home and auto loans, etc.
) because of their bad credit.
That's almost $9000 a year! That's a lot of money! The credit bureaus are not government organizations.
They are for profit companies that make more money from people with bad credit than they do from people with good.
Don't you think that that would be a very good reason for them to keep you down? They do this by giving you only half truths so you believe what they tell you about how tough it is to change their seemingly official reports.
CREDIT BUREAUS - YOU KNOW THE THREE OF THEM - ARE IN IT FOR THE MONEY! Credit bureaus make their money by selling the contact information for the people whose credit scores they compute.
A person with a credit score lower than 640 is worth $145 bucks a year, while that SAME PERSON with a 700+ score is worth only $85 bucks a year.
Basically, credit bureaus are lead generation companies.
Nothing more.
They make lots of money selling your very personal information to others.
The worse your credit, the more they can charge.
Do you think they make a chunk of change on selling those contact's information that are receiving 24% interest credit card offers in the mail? Make sense? You may think that the difference between $145 and $85 isn't much, but multiply that by the 55 million people with bad credit, and we're talking some serious cash here for the credit bureaus - about 3 BILLION dollars.
I hope that they're not spending any of our hard earned money to keep our scores down...
What do you think? Make you mad? It sure does me!