Tell Me More About Credit Repair
So you want to know more about credit repair, do you? If you’re already searching for information about credit repair even when there’s no need for it yet then that’s great.
The wheel of life turns as it pleases so we can never be sure that we’ll always remain on top of it, no matter how frugal and prudent our decisions are. We’ll do our best to give you the information you need and that could be your lifeline in the future.
Credit Repair Companies
There’s been a lot of noise made by critics when professional credit repair companies started emerging. They’re certainly not to blame for their opinions because there are truly several credit repair companies whose practices are illegal and unethical. But it wouldn’t be fair to generalize.
There are a number of credit repair companies that truly provide help to needy, desperate clients and provide services through legal and ethical means. One shouldn’t dissuade individuals who prefer to ask for help from a professional credit repair company since not all of us have the time, experience and perseverance to fix bad credit.
The Credit Repair Process
The process, after all, is quite a long one and there are just many documents to obtain, reports to review, forms to fill up, type, stamp, send over and process and between those tasks, you’ll have to spend a portion of it simply twiddling your thumbs waiting.
Procure A Copy Of Your Credit Reports
- Credit reports figure largely in the credit repair process because they’re the basis and very reason why you need credit repair in the first place
- Credit reports are supplied by credit bureaus or credit agencies such as Equifax, Experian & TransUnion
Dispute Erroneous Items
- This sounds easier than it seems
- Carefully review your credit reports for all inconsistencies, inaccuracies and erroneous items
- Leverage the Fair Credit Reporting Act (FCRA) by challenging the credit agencies to investigate erroneous and inaccurate information found on your reports
Creating Dispute Letters
- This is the most crucial part of the credit repair process
- Using the right verbiage by leveraging the Fair Credit Reporting Act (FCRA) to convey your message so the credit agencies conduct a thorough investigation
Waiting & Tracking
- After mailing off your dispute letters via certified mail it’s time to wait
- The credit agencies have at least 31 days to respond to your dispute letters
- Tracking the date letters were mailed out versus the time responses are received is imperative
Understanding Your Rights & The Law
- It’s important to understand “your rights” and the law
- Leveraging Your Rights & the Law will help in successfully disputing erroneous items
This is the process which can take more than one round of disputing with the credit agencies. The only way to win is to remain consistent and persistent during the entire process.
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PS: There are 10 Credit Myths the Credit Agencies don’t want you to know so you can protect your assets. To get your copy of this free report click here.
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