June 25th, 2006 - Debt Free Like Me announced the launch of their new nationwide service, Rent Reporting. Through the corporate web site the company will begin to offer consumers a valuable way to significantly improve their credit profiles by having their timely monthly rent payments added as a major positive factor to their credit score.
"According to the U.S. Census Bureau approximately 34 million Americans pay rent each month,". "Currently, the major national consumer reporting agencies (Experian, Equifax, and TransUnion) do not track, or factor into credit scores, timely monthly rent payments. As they continue to explore alternative credit data and incorporate them into their scoring models, Debt Free Like Me's Rent Reporting program offers a service that has an immediate and direct impact."
As a financial solutions company, Debt Free Like Me focuses on comprehensive services such as: Credit Repair and Rent Reporting. The Debt Free Like Me Rent Reporting program enables apartment renters to build credit with rental payments as homeowners do with mortgage payments, regardless of income or geography. The program helps individuals establish credit without having to resort to high interest loans or credit cards. For most people, a person's rent payment is the single largest payment they make each month, yet it is not used in the calculation of a persons credit score.
"By reporting timely rent payments to the major credit bureaus, we give our customers the opportunity to significantly improve their individual credit scores. A better credit score enhances their chances to take advantage of favorable credit offers from lenders, including home loans, auto loans, personal loans, and credit cards. By offering consumers the chance to improve their financial health, we are enabling them to enrich their lives,".
June 25th, 2006