credit repair business opportunities

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Credit repair is in getting the right help, it is necessary for some, it is not the panacea to increase your credit score and how do you know if you fit the profile.

Credit Repair Matters :

FICO scores and its variants are designed to measure the risk of default, by taking into account various factors. Although the exact formula for calculating the FICO score is a closely guarded secret, Fair Isaac has disclosed the following components and the approximate weighted contribution of each: * 35% punctuality of payment in the past * 30% capacity used: the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits) * 15% length of credit history * 10% types of credit used (installment, revolving, consumer finance) * 10% recent search for credit and/or amount of credit obtained recently

Instances of identity theft have increased as the willingness of lenders like issuers of credit cards to extend credit without physical human contact, the ability to transact sales and other business at a distance (online and via telephone), and the availability of personal information, and its volume held by third parties, has increased.