If you are a fan of Television's "Mythbusters," next you might know the truth about most favorite fictions - such as the way a warmed up Jawbreaker can explode whenever you bite into it, or even that a house ceiling fan cannot decapitate you, or that the toilet seat of yours will be the cleanest surface in your home. While these're fun myths to debunk, knowing the facts of these fictional stories most likely will not impact your personal finances.

Every day, consumers pay massive sums of money to credit-repair service firms that guarantee a rapid credit fix in an attempt to handle disputes, improve their ratings and get yourself a great FICO score. And virtually all the time, they see that their cash is perfectly wasted.

You most likely already understand that the mere fact you have credit means you're essentially using another person's money in order to make payment for your purchases. It's also means that you're obligated to repay the funds to a person, agency or maybe lender that loaned you the total amount.