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Yeah, these myths has been spread very fast, and there are some trues you really need to know, once of the best examples is that you need a professional agency to do it for you, even they can help you to do it, you can do it for yourself. I did it so can you!, our next step will be to revel the truth from some of the most common myths about credit repair and debt consolidation issues.

Myth 1: I need help…I can’t do it myself

As with many things, we need help once in a while, but credit repair is certainly something that you can do quite easily on your own with a little elbow grease and time. When I first looked at my credit report back in January 2007, I saw some late pays, a judgment, and some other “not so good” marks on my credit report. I screamed, “I’ve got to get a credit agency to help me with this! There’s no way I can do this myself!” Yeah, so I thought. How did I do it myself? I got educated that’s it. And now, you are going to get the best education on how to repair, rebuild, and maintain your credit score. After some time of taking a more in-depth looking into my credit report, I noticed some huge mistakes by either the creditor or credit bureau. These were not my mistakes, but the mistakes of “The Man.” I found mistakes on multiple accounts, ranging from multiple late pays, wrong accounts, to closed accounts, when in fact they were open. Turns out, it’s estimated that anywhere from 75% to as many as 90% of credit reports contain errors.

Myth 2: You Can’t Fix Bad Credit

Not at all, having a bad credit rate does not mean you can’t fix it, it may take you some time to do it, but you can definitely do it. There are several avenues to repair your credit, build positive lines of credit and returning on the good credit path. One of my most embarrassing stories occur me when I was applying for a Banana Republic card and I was denied in the middle of a very important Holiday, improving your credit it is just a matter of get the right education on the right topics and with my videos you will get all the education you need.

Myth 3: You just have one credit Score.

You have 3 credit scores, not just one, each one of this credit scores is from the major credit reporting agencies. all 3 will show different scores, that is why when applying for a credit one company may use one report while other company may use a different one, it is always a good idea to get the 3 reports from the different bureaus because they can have serious diferences.

Myth 4: If you check you credit this will lower your score.

There are two types of inquiries that will appear on your credit report: hard and soft inquiries. Hard inquiries are from companies you wish to get credit from. These will affect your credit score. Soft inquiries are usually when you check your credit report online or from companies obtaining your information for promotional purposes. Soft inquiries don’t affect your score.

Myth 5: Shopping Around For a Loan Will Lower Your Score

Another very common myth, if you are looking for a credit (mortgage, car loan, home loan) from several vendors, this inquiries will appear on your credit report just once, nevertheless this only applies if the same kind of inquiries are made within 14 days of each other. Just remember that this does not apply for credit cards.

Myth 6: The Only Way To Improve My Score Is To Remove All Negative Items

This is true, but ONLY one piece of the credit repair puzzle. Although, getting negative items removed from your score will raise it, building “positive credit” is what will build your score further. Have you ever been turned down for having no credit? In other words, you don’t have any “positive credit” built up with credit card companies.

“How to reduce your credit card interest rate with one simple phone call” this is a free advice

Here is this little sweet trick: Get your telephone, dial your credit card company number and ask them to drop your interest rate! is that simple!, just tell them that you have in front of you a credit card with a lower interest rate, may be they are offering you a zero percent rate for the first 6 months and after that period they will charge you 8%, tell them that you are thinking to transfer your entire balance to this new company if they dont decrease your interest rate, chances are that you will get a better interest rate that the one you have right now, be extremely kind with the operator, but if you cant get a deal ask to talk to the supervisor, remember that the key part is to treat them to leave.

Before hring a professional to help you with your finance go to Miguel Pancardo site and get his excelent free report on credit card debt consolidation online and how to get out of debt in his website.