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Credit Repair - National Report

The National Credit Repair Report is an indicator of the number of U.S. citizens who may be in need of some form of credit reparation due to unemployment, divorce, death of primary provider, sudden disability etc. 

The number of unemployed persons increased to 8.2 million in March 2006.

Disabled Due to Job Injury in 2000 was 5,650,100.

The average American consumer owes about $9000 in credit. The higher the debt the greater the probability of inability to pay debt down debt much as well as making payments on time. 

Duration of negative credit information on your report
General credit information: 7yrs
Collections: 7yrs from date of last activity
Bankruptcy: 10 yrs
Foreclosure: 10-12 yrs from the date filed
Garnishment: 12 yrs from the date or entry or 7 yrs from the date satisfied
Judgment: 12 yrs from the date or entry or 7 yrs from the date satisfied
Tax lien: 12 yrs from the date or entry or 7 yrs from the date satisfied
Dismissed garnishments, judgments, and tax liens: not reportable

Credit Repair Scams
Statistics show credit repair organizations have mushroomed motivated by the number of persons in credit trouble. From this demand for improved credit have risen credit repair kits and companies promising to remove negative information from ones credit report. Consumers are put on alert to avoid companies that do not bare the official BBB stamp or backed by federal regulatory policies. 

Credit Report Agencies

Equifax Credit
PO Box 740241
Atlanta, GA 30374
800-685-1111
http://www.equifax.com/ Get an Equifax 3-in-1 Credit Report Now!

Trans Union
PO Box 4000
Chester, PA 19022
866-887-2673
http://www.transunion.com/

Experian
PO Box 2002
Allen, TX 75013
888-397-3742
http://www.experian.com/

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Can I get an FHA loan with bad credit?
FHA loans are ideal for individuals with credit problems including bankruptcies and foreclosures. While your credit score is usually the most important factor lenders consider when approving you for a conventional loan, with an FHA loan (non-conventional loan) it’s not the central consideration. Connect with FHA lenders here