Tampa Credit Repair Organizations Look Forward To Recovery After the Great Recession

Tampa Credit Repair organizations are finding support for their contention that residents of the Tampa Bay real estate market need credit repair services more than ever before. In December 2010, Clear Capital, a leading provider of real estate data solutions released its Monthly Home Index.

The statistics cited in the report indicate that Tampa was one of 13 (out of the top 50) metropolitan statistical areas that experienced a "double dip" in real estate prices; meaning that current real estate prices in those areas are the lowest since the housing downturn began.

The implications of this trend for the personal credit status of countless Tampa area residents and households cannot be over-estimated.

From greatly reduced access to equity capital from private homes, to many more homeowners being susceptible to foreclosures and bankruptcy, the recorded "double dip" in Tampa real estate prices could have a chilling effect on both business and personal finances in The Big Guava over the next few years.

Proactive individuals can reduce the impact of such area-wide trends by taking some simple steps:

1. Review Your Credit Reports And FICO scores

Your credit report (or credit history), is a record of how you have borrowed and repaid debts, or otherwise handled your most important financial transactions. It is always a good idea review your credit report at least once a year. You should also obtain your FICO scores as reported by the big three credit bureaus.

Some studies have shown over 78 percent of credit reports1 to have errors in them.

In addition to reviewing your credit reports for incorrect information, it is often a good idea to sign up with a credit monitoring service to reduce the risk of identity theft.

2. Dispute Any Credit Report Errors

New rules in consumer credit now allow you to dispute credit errors directly with the creditor (such as your credit card company), rather than just dealing with the credit reporting agency.

Of course, you still have the option to dispute credit errors with the credit bureaus if you want to. However, when you file a credit dispute, you have to be very careful about following proper procedures. Making mistakes in this process could get your dispute sidelined as a "frivolous claim".

3. Take Advantage Of Credit Laws That Protect You

With the right amount of personal research, you can significantly improve your credit by holding creditors and credit bureaus responsible for meeting every single one of the requirements they have to attend to in the handling and reporting of your credit information.

A few of the steps recommended by the many credit counseling agencies will have the ironic effect of limiting your disputing options.

You may be better off dealing with an affordable credit repair attorney or getting legal credit repair services from a duly registered CRO (Credit repair organization).

Final Thoughts

The steps above are important, not only for Tampa Bay residents, but for anyone across the country looking to create an additional buffer between themselves and the worst financial effects of the so-called "great recession".

On the other hand, if the double dip in Tampa real estate prices affects you personally, you would be wise to follow the advice above...both for now, and into the near future.

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