How can bad credit be legally repaired?

It is your right and responsibility to assure the accuracy of the items on your credit reports. If information recorded on your credit reports does not accurately represent your behavior as a consumer, then you have the right to request that questionable information be removed from your reports. The Fair Credit Reporting Act (FCRA), Fair Credit Billing Act (FCBA) and the Fair Debt Collections Practices Act (FDCPA) afford you the legal right to dispute inaccurate items on your credit reports with the credit bureaus and your individual creditors.

The most popular method for restoring bad credit is the credit bureau dispute. Because of the Fair Credit Reporting Act, you have the right to dispute and delete any items on your credit report that you feel are inaccurate, untimely, misleading, biased, incomplete or unverified.

When you dispute a questionable negative credit item with the credit bureaus, you are demanding that they perform an investigation to determine whether or not the item should be listed on your credit reports. If the credit bureau cannot verify the accuracy of the item, then they are required to correct the listing or completely delete it from your credit report.

Another facet of credit repair is to work with your creditors to remove the negative items from your credit reports. Your creditors have the ability to delete negative items from your credit reports at any time. With more cooperative creditors, sometimes all it takes is to ask the creditor to adjust or delete a negative credit listing. In situations where this non-confrontational approach is not sufficient, the various consumer protection acts provide you with tools for forcing creditors and collections agencies to prove the accuracy of the reported accounts.

By using some or all of their legal rights to fair and accurate credit reporting, thousands of people have legally and successfully restored their credit and increased their credit score

 

What about Consumer Credit Counseling?

We have all seen countless ads for non-profit Consumer Credit Counseling agencies, but how can a non-profit organization pay so much for advertising, and if you don't pay for their services who does?  We know all those people don't work for free, the phone companies are not providing them with free 800 numbers, and TV stations are not giving them free air time, so how are they doing it?  They are "sponsored" by major banks and lending companies, and the way they keep their sponsorship is by collecting money for the sponsors!  They may say they work for you, but we all know in the end, they work for whoever is pays the bills... This means they are nothing but collections agencies, sponsored by your lenders and creditors. Truly a wolf in sheep's clothing.  They also don't tell you that they are going to destroy your credit rating when you enter their program.  All of your accounts will be charged off and settled for less than the full amount will be entered on your credit reports.  Your credit reports will also be noted that you are enrolled in their program, you might as well see if they can just stamp a skull and cross bones on your credit reports!

We are very different from a non-profit credit counseling agency, because we work for YOU, they work for your creditors!   Depending on the age of your debts we can either remove them from your credit reports without you paying them, or settle them with a deal that is in your favor, not the lenders.  The choice is up to you!

Can I do Credit Repair Myself?
Yes you can - but don't think that it is easy and results are easy to come by. Like any industry there are tricks as well as do's and don't s that can make all the difference in the world.

What processes are involved in credit repair?
True credit repair is not a “quick fix credit” program. Inexpensive internet companies send form letters to the credit bureaus that the consumer could do on his/her own free of charge. This process does not bring the needed results since the original creditors could report the item again, which would result in the consumer facing the same bad credit problems all over again. Many times trying to get a refund from these companies is impossible since many of them are not legal and consequently not accountable.

A legal credit repair company needs to have a $10,000 surety bond, and be registered with the Secretary of State. Additionally, a 3 day cancellation period in the contract is required.

The credit repair process involves auditing the credit bureaus, auditing the original creditors through certified mail, stopping the creditors from harassing the client with cease and desist letters, and working out settlements on the few remaining items.

Will credit repair improve my credit score?
Every time a negative mark is deleted from the consumer’s credit report the credit score will improve. There are several ways to improve the credit score besides deleting negative items which are part of the credit education program.

Why do the Consumer Reporting Agencies Dislike Credit Repair?

Because they lose money!  A person with "bad credit" has 70% more inquiries on their file than a person with "good credit", think about that for a minute, every time a credit file is pulled the CRA's make money (in between three and five dollars a piece)! So do they want you to fix your credit, absolutely not! Thankfully we live in a democracy, where everyone is entitled to a fair defense. A courtroom would never stand for a prosecuting attorney to point his finger at you and yell "guilty" and then not prove his case... so why would we stand for the credit reporting agencies to do it? We agree with the law makers and Congress; that the credit reporting agencies must back up what they report about you. The real issue here is not always whether the information is even accurate or not, but is the reporting agency able and willing to prove it. If your defense is properly presented, it is usually more trouble for the credit reporting agencies to verify the information on your report than it is for them to simply delete it. You can appeal to the three reporting agencies yourself, or you have the right to hire someone to do it for you. The choice is up to you, we have helped countless people regain control of their credit situation, and we would like the opportunity to help you. Enroll today!