In the past 50 years, American society has been radically altered by the "credit revolution." Everyone has credit cards, uses credit to buy cars, furniture, clothing, and even food. No longer are items bought with cash but rather on a line a credit or some type of financing. How much you are worth is often tied directly to how much you can borrow. Having a bad credit rating can hinder your ability to buy, especially in regards to home ownership. Too much debt can and has trapped people into a life without savings where they are chained to scrapping by to just make the minimum payments on their credit cards. In this section, we are going to look at what credit is, the problems you might encounter, and how to solve them.
With millions of transactions reported daily to the credit bureaus, the chances of an error or false information reporting on a credit report is increasing common for the average consumer. This guide has been designed to assist you in correcting wrong, erroneous, mistaken or false information that reports on a credit report.