In my quest to begin investing in real estate, one of the first things I did was a full audit of my credit reports at all of the major credit agencies. What I found was interesting because I expected to have a pretty good credit score.
However, a few things were on there that I didn't know about and there were also a few things that I didn't think were a big deal.
One of the things I found was that I had a 'charge off' of about $30 from Macy's for a credit card that I opened to buy an item and never even remembered opening this account. What happened was that Macy's didn't get my proper address when I opened the account and they were sending the bill and other account info to the wrong address. After doing this for a few months with no response from me, they closed the account and reported me to the credit agencies.
I had no idea at first that I even had opened this account and I also didn't have a clue as to how to investigate this and have it removed from my credit report. Since there were a few other things on my credit report that were hurting my score, I decided to contact a professional credit repair service which at first I was very apprehensive about. My fear was that this was one of the companies that you pay a settlement amount and then nothing really is solved.
However, GACS was able to investigate all negative issues on my credit report and sent letters to the agencies to have the innacurracies removed from my credit report. I was amazed that they were able to get these things removed for me and now - a year later, I have a GREAT credit score and am able to qualify for much better interest rates and programs for a home purchase.
I suggest that everyone run a credit report and if you find anything at all negative, give a credit restoration company a call and see how they can help. I know it has greatly helped me out and will save me a lot of money for a long time to come.