Credit repair is the process of identifying and removing erroneous or bad information on your credit reports. The Fair Credit Reporting Act (FCRA) gives you the right to dispute negative information that appears on your credit reports. For example, if a creditor reports that you were not paid an installment for something that you did not receive, you can challenge that in your credit report dispute. This challenge, if successful, may stop the negative information from being reported to the credit reporting agencies (otherwise known as credit bureaus). The process of challenging inaccurate information on your credit report can be an important step towards improving your credit score.
There are several companies that offer free credit report retrieval services. You can access these companies’ databases by visiting the annualcreditreport website, or via phone. Most people who wish to challenge inaccurate information do not know how to go about doing so successfully, but there are resources available to assist those who need help. The FCRA provides assistance for individuals who need help with credit repair because the law requires that each of the major credit bureaus to provide you with a free copy of your report once a year. It is important that you take advantage of this free credit report assistance, as it may give you clues to help you identify possible inaccurate information or fraudulent activity on your reports.
Once you have identified the problem areas on your credit report that need to be discussed with a credit repair company, it is time to determine what method of dispute you will use. If you are not comfortable with challenging inaccurate negative information yourself, you may want to enlist the help of a credit repair attorney. Many attorneys specialize in handling credit repair disputes, and they are usually quite knowledgeable in this area. They often represent clients who have been dissatisfied with the results of the credit reporting agencies’ investigations and efforts to eradicate the negative information from their reports. Attorneys can provide sound legal advice regarding your rights and legal remedies if you choose to pursue a dispute through credit repair.
When you discuss your negative information with an attorney, it is important to fully explain the circumstances surrounding the negative information that needs to be disputed, and why this information should be removed from your credit report. You may be required to submit further information and documentation to the credit reporting agencies to support your argument. In most instances, the credit reporting agencies will not remove the inaccurate negative information unless there is compelling proof that the item is inaccurate. Attorneys can provide this proof and can explain the process involved in taking such items out of your reports.
In some cases, the credit repair process may require you to hire additional credit repair companies. When this process occurs, you will want to make sure that you have at least three credit repair companies working in conjunction with one another. You credit repair companies will want to review all of the items that were disputed in your reports and will work together to iron out the differences. In many cases, the credit repair companies will reach a consensus to resolve the issues, which will result in the items being deleted from your credit report. It is critical to remember that in many cases, you are going to have to hire additional legal representation in order to protect your legal rights during the credit repair process.
As previously mentioned, the credit repair process can be a lengthy one. You are generally required to meet a series of criteria before the items will be deleted from your credit report. For many people, this process takes months, while others can see the items deleted from their reports in as little as three weeks. If you are in need of credit repair, hiring an attorney can help you get through the process, as many legal issues can arise when you are dealing with the credit repair companies. With a lawyer on your side, you are more likely to get what you are looking for in a credit repair company.
If you enjoyed our content, we'd really appreciate some "love" with a share or two.