Improving Your Credit Scores
You may get calls from Telemarketers offering low-cost credit repair services. The scam, companies’ nationwide, appeal to consumers with poor credit histories who are desperate to improve them anyway possible. They promise, for a low fee, to clean up your credit report & improve your credit score so you can get a car loan, a mortgage, insurance, or even a job.
Desperate consumers fall prey to this scam every single day. Remember, if it sounds too good to be true, it is.
Most credit repair services promise to do a job of unlimited credit report disputes, corrections, and removals with Equifax, Experian, and TransUnion at a very low cost, but then they ask for money upfront and guarantee deletions -- this is NOT possible nor is it legal. Some even throw in the promise of free credit monitoring or a secured credit card to sweeten the deal, but those deals come with high risk.
Credit Repair Done For You
An ethical credit repair company (usually reputable lawyers, not shysters or web marketers) will not tout miracles, charge you in advance or make false promises. If they do, sooner or later the FTC will find them.
Just recently a credit repair company was shut down and fined by the FTC for making promises it couldn’t possibly keep by assuring buyers that they could remove negative accounts even if accurate, and for collecting money in advance for work yet to be performed.
That’s the key word. Accurate. The foundation of credit repair isn’t an industry trade secret. It’s using the law with your customized disputes to garner the best possible results. Period. By using existing state and federal credit laws, a credit repair company CAN remove negative information from your credit reports. The fundamentals aren't whether the item is negative or positive. It’s if it's accurate. The FCRA is quite clear on this issue. If it isn't verifiable or accurate, it cannot remain.
You’ve probably been told that your credit history will stick with you forever, or it takes years to clean up. While no one can guarantee you a spotless credit record, real credit repair is a worthwhile investment, and if the credit bureaus, collection agencies, and creditors were doing their job, credit report repair wouldn't be the top search online. For this reason, people hire credit repair companies to clean up questionable items.
People are desperate because credit reports DO contain errors. Nearly every consumer has an error in at least one credit report from one of the major credit bureaus. Credit bureaus generate your report they receive from your creditors; they don’t verify it unless you ask.
The simple truth is that the credit bureaus and even furnishers of information (FOI) must comply with federal law. Doing so isn’t so easy for them. You need to leverage that. It will take time, but it’s a very worthwhile investment. Before you hire any credit repair company make sure you investigate them.
The No Cost Method - It's Up To You
Do it yourself credit repair is free. It’s never too late to become credit worthy - just get started, and remember that it won't happen overnight and you must commit to doing the work. Doing the work can be justified in how much money you are going to save if you don't have to hire someone AND in rates if you do have an improved credit report.
Where To Begin: Credit Repair Is Like SEO -- It's A Long Term Goal Not A One Day Project
Get all three credit reports
Each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report once every 12 months, if you ask for it. The three companies have a central website, a toll-free telephone number, and a mailing address for consumers to order the free annual credit reports the government entitles them to. To order, click on annualcreditreport.com or call 1-877- 322-8228.
Education is key in DIY credit repair
It’s important to educate yourself and if you are going to do the work, do some research. You’ll quickly find there are only a handful a really good reputable DIY sites. The information provided can help you ascertain what your specific problems are whether it's validating a debt, disputing an expired debt or merely addressing false information in your credit reports. The highly effective credit repair letters that we offer have been proven to WORK in correcting negative items on your credit that may be outdated, obsolete, or inaccurate (unverifiable).
Know your rights when it comes to credit
When you combine the right letters with the right credit laws to cut through the bureaucracy of the credit system, you’ll garner much better results, save money and avoid mistakes that can cause you more trouble and more time. Not to mention, you’ll understand the dangers of dealing with bill collectors without proper knowledge. You can make a bad situation worse like renewing an old debt or getting yourself sued. If you think paying that old collection account will get it deleted from your credit history, you're sadly mistaken -- those will last 7 long years if you dont negotiate the credit rating.
The basics of your credit repair plan will be
Starting disputes with the credit bureaus -- validating debts with collection agencies -- following up each and keeping records on your progress. You'll want to be organized and keep track because you'll be basing your follow up on previous actions or reactions from the credit bureaus and collection agencies.