Consumers need to know about free credit repair services and what is going on with their credit scores. Most people can check their credit scores online if they are buying a house or new car off the showroom floor and take care of the paperwork right from home. Unfortunately, credit problems can mount up and eventually prevent you from making purchases. Either way, it is worth it to learn how to repair your credit online for free.

In February 2011, the IRS announced a set of new policies called the “IRS Fresh Start” program regarding unpaid taxes in an effort to “…Help Struggling Taxpayers Get a Fresh Start…” One of the changes will directly affect credit reports and possibly raise credit scores.

Everyone knows the value of having a good credit score — apply for mortgages or credit cards and get the lowest interest rate possible because you have a 721 FICO Score. There are also a lot of Americans, especially in today’s economic times, who know how difficult it is to even qualify for those same mortgages and credit cards with a 521 FICO Score.

A credit score is either a blessing or a curse cast down upon you from the digital cloud. A score of 740 qualifies you for the best interest rate on a conventional mortgage. A score under 640 means ugly interest, and a number under 620 makes it very hard to get a mortgage at all.

Consumer credit transactions are regulated both at the Federal and the State level. While there is considerable variation among State laws governing consumer credit transactions, most are based on Federal laws and various versions of State laws covering several standard areas.