The media, newspapers, tv and the web are full of information, but sadly, most of the information regarding credit happens to be completely innacurate.
Below you will find 3 very common credit myths.
Credit Myth #1: “If I get one credit bureau to remove an item from my credit report, the rest of the bureaus will remove it just as well..Unfortunately, this is not the case. Each of the three bureaus are independent companies. They don’t automatically work together with each other when considering deletion of items on your credit report, the truth is that all 3 of them are competitors of one another. You will have to contact & work with each bureau separately to get any negative, outdated or incorrect items removed from your credit report. All this redundant work is a significant reason so many Americans consider using credit repair companies such as Nationwide Credit Clearing to help them with this lengthy and very complex process.
Credit Myth #2: “Your yearly income or salary plays a role in your credit score.” Believe it or not, the credit scoring models don’t take salary as a consideration in any way. They do not want to discriminate based upon wages or personal income, and because of this, you could have a high paying job, but still have a very poor credit score.
Credit Myth #3: “Including a consumer statement to your credit profile can make a large difference.” Unfortunately this does not make a difference in your credit scoring at all. To be quite honest, the reality is that there’s no point in adding any type of consumer statement mainly because if you’re in a dispute with the way an item is reported, you have the ability to, by law, add a statement. However, if you are able to get the item corrected or removed because of its inaccurate reporting, having that statement would likely reaffirm the fact that it should have ended up there in some way, shape, or form. So, it’s better to just not tell your personal story, because the likelihood of anyone reading it is slim to none.
Nationwide Credit Clearing
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com
