Too many people suffer from a bad credit score. It is only natural. Recession has made us increasingly dependent on credit purchases. Sadly, at the time of paying for such purchases, consumers generally look to pay off the interest and carry the principal forward. This increases the revolving debt with time. Also, delinquent accounts falling in the collection department do not help the cause at all. In very little time, almost every negative perception of your finance starts to bite a few numbers off your credit score, thus giving you a poor credit rating.
It is well established that a poor credit report means greater difficulty in loan acquisition. Even if such chances do come by, they bring with them very high interest rates. This brings us to a very important question- how reliable are the credit reports? Often, you would find them to be perfect however, there are times when they hold some kind of a discrepancy. It might turn out to be a typing error from the Bureau and it might even be a breach of contract or misinformation from the creditors side.
Though you are eligible to challenge such issues through a dispute letter, it is ideal to have a credit monitoring system at your home. You can ask the top three rating agencies (Equifax, Experian and TransUnion) for one free yearly report but that is pretty much about it unless you are willing to pay 10 for each additional report. Having your own system allows you to glance at your rating and position of independent accounts whenever you want to.
Best credit monitoring service helps you in disputing any account information or delinquency status which you might assume to be unreasonable. You wont be required to write a letter to the credit bureaus anymore then. An instant dispute facility allows you a greater piece of mind and instills fear in the mind of creditors.