Credit Advocacy Services

With identity theft on the rise and a global credit crunch making high credit scores more important than ever, every consumer should: Investing in such a service may well be the most important financial safeguard you can ever put in place.

What is a credit report?

A credit report is nothing more than the summarized history of an individual’s financial activity based on patterns of payments and debt resolution. A score is attached to this summary by each of the three major credit bureaus, which are: Each credit bureau uses its own algorithms to calculate these scores. For instance, Equifax uses the Beacon Score. The national average Beacon score is currently 640, with an excellent score being in the range of 800 to 900. Most people who are evaluating their credit want to look at a report from all three agencies to get the most accurate picture of how lenders view them as potential credit customers.

What is credit fraud?

Credit fraud, also known as identity theft, occurs when thieves acquire a consumer’s personal information, including their Social Security number, and use the data to charge purchases to their existing credit cards or take out new cards or loans in their name. (Or engage in any other kind of business activity where debt is incurred.)

Of course, these new debts will never be paid by the thief, but will become the responsibility of the victim until the fraudulent activity can be proven and the victim’s credit history cleared. Beyond that, the fraudulent activity will most likely prevent the victim from being able to get credit of any kind while the dispute is being resolved, including home mortgages and automotive loans. Resolution can take years and is, in itself, an expensive endeavor as the services of a lawyer are generally required.

Credit Advocacy Services

In the United States since 2005 everyone is entitled to one free credit report from each of the the major credit-reporting companies or "bureaus" per year. The problem? People don’t avail themselves of the opportunity or they are afraid they won’t be able to interpret and correct the data once they acquire it. As a Credit advocate, I can help you with the following:

With credit sources tight in the presence of a global recession, using a credit monitoring service to maintain a clean credit record and a consistently high credit score is the consumer’s best insurance to preserve purchasing power and a spotless financial reputation.

Please visit Bestcreditreports.com for more information