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Does Credit Repair Work?

Does Credit Repair Work?

Credit repair companies can help people to find and remove negative items on their credit reports that are bringing their credit score down. Getting your good credit back can be an uphill climb when trying to do all the investigation on your late payments, charge offs, bankruptcies and other items on your own. A credit repair company will have the knowledge and experience in working with the major credit bureaus to repair your credit.

Credit repair companies will go over all your items on your credit report and give you recommendations on how they will fix the negative items. They know all the federal consumer laws and how to communicate with the credit bureaus on your behalf. The credit repair agents know how to keep explicit records on how items are being handled and how to stay on top of ridding your credit report of all the negative charges.

Many people question what the factors are that affect their credit score and have no knowledge of all the fundamentals involved in fixing their reports. Individuals do not understand how to dispute the questionable and negative items on their reports. Credit repair agents will investigate all items and have those items that are inaccurate or not able to be verified removed from your credit reports.

Credit repairing agencies may offer additional services of protecting and monitoring your credit rating after all the negative actions have been removed. The first step is to dispute false and inaccurate items using the Fair Credit reporting act to remove all questionable information from the credit reports. If there are problems with certain items on the report that are hard to remove, the Fair Credit Billing Act allows for extensive information on the history and billing of the client’s accounts be requested.

Clients will go over their credit reports and inform the credit reporting agent on those items that are questionable and should be disputed. The agents will then be able to determine which negative items are affecting your credit report the most and go after fixing them first. The credit bureaus and the creditors will be sent appropriate dispute letters by the credit repair agent in order for an investigation to begin. Once the credit bureaus have finished their investigations of the disputed items they will send the client a letter. The letter will show if items have been removed and the improved credit report.

If the bureaus do not fix the disputed items and the credit report remains the same, our clients send us the new credit report and our agents will begin again on disputing the items. Agents can intervene with requests for debt validation, goodwill interventions and escalated investigations on the accounts. These interventions are more in depth and usually increase favorable results.

Credit bureaus cannot keep listing negative or disputed items on a client’s report unless they have full knowledge of the debt being accurately reported. All debts on a person’s credit report must be verifiable. In many cases the disputed account cannot be verified. Creditor’s either have not kept the proper information on the debt or they do not wish to spend the time to verify the debt. The bureau would then have to remove the disputed debt from the client’s credit report.

Re-investigations done by the credit bureaus must be completed within 30 days, but the bureaus do not always follow this regulation. Repairing your credit report can take time but with the help of a credit repairing company individuals can fix their financial situation. Many clients have seen positive results within a 4 month period of a credit repairing company working on their reports.

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