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Credit Repair Pulling Your Hair Out Over Bad Credit? or Plagued By Fraud Problems You Don't Feel Can Ever Be Fixed?

Stop!...Educate Yourself About Legal Credit Repair First!

 

In today's world where an ever increasing importance is being placed on your credit history and credit score, it's more crucial than ever to understand the system and learn what you can do to manage and repair your credit.

It may not feel like it at times, but the law is on your side when it comes to taking control of correcting mistakes on your credit report, clearing things up when fraud happens, or even dealing with debt collectors.

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The most important thing is to know and understand your rights as a consumer. Many people simply don't realize how much power they have to gain control over their credit, and remain trapped with an undeservedly low credit score or become an unnecessary victim of fraud.

Learn how you can gain the upper hand when it comes to repairing your credit!

So How Much Does Bad Credit REALLY Cost?

:et's face it, a large portion of our financial transactions depend on having good credit. While the whole system itself is incredibly flawed, we have to work with it. Unfortunately bad credit can ultimately cost in the hundreds and sometimes thousands of dollars per month.

Credit Card Interest

Low interest credit cards become almost unattainable when you have bad credit. The credit cards out there which do cater to bad credit are often insane to even use because of horribly high fees and interest, Most of them only have very low credit lines and some do not even report your activity to the credit bureaus, which makes it an even bigger uphill battle when trying to make progress with your credit.

High Interest Car Loans

When you buy a car and finance it with bad credit, you're likely going to pay $1000's more than you would vs. a low interest loan with good credit.

While a slightly larger monthly payment usually doesn't sound like much, just have a look at how high interest on an average car purchase can add up:

$20,000 car paid over 5 years:

CREDIT STATUS

RATE

PAYMENT

COST OF BAD CREDIT

Perfect
Mildly Damaged
Damaged

10%
14%
20%

$424.94
$465.37
$529.88

$0.00
$4,722.54
$8,593.30

Sub Prime Mortgages

Having to settle for a subprime mortgage loan when you have bad credit pretty much dwarfs any other costs. If you are purchasing a home or considering refinancing, that is the most critcial time of all to work on repairing your credit report.

If you think high interest car loans are costly, the following figures might shock you:

$100,000 home paid over 30 years:

CREDIT STATUS

RATE

PAYMENT

COST OF BAD CREDIT

Perfect
Mildly Damaged
Damaged

7%
9%
12%

$655.30
$804.62
$1,028.61

$0.00
$50,155.24
$130,791.63


Learn More About Repairing Your Credit to Avoid These Costs


 

The information contained on this site is not intended to constitute professional legal advice in any way. It should be considered for information purposes only and no responsibility is assumed for errors, omissions, or inaccuracies. Any person needing legal advice should consult the services of an attorney licensed to practice in their state.