How to Use Government Rights to Legally Fix Your Credit Report
Perhaps youve just started looking into repairing your credit and want to learn a little about the basics of credit repair. Theres an incredible amount of information to be found online, but much of it is contradictory " and confusing. Is credit repair possible? Is it legal? Where do you start?
Whenever somebody tells you that credit repair is unquestionably illegal, you must think about the source of that information. Often credit repair is associated with deadbeats who are looking to skip out on financial obligations.
Its not in the interest of large lending corporations, creditors, and credit bureaus for you to pursue your legal right to remove questionable items from your credit report. This is what you have to keep in mind when you encounter any of the common myths about online credit repair.
Youll find plenty of websites claiming that its not possible to fix your credit score, that credit repair simply isnt possible " or even legal. Of course, its in the financial interest of lenders, collection agencies, creditors and even credit bureaus to protect their profits and make sure that mistakes that show up on YOUR credit report are in THEIR favor. They want to collect, and they know that theyll lose money if consumers know " and pursue " their rights to legal credit repair.
Approximately thirty years ago the government enacted laws to help you - the consumer - when it comes to repairing an inaccurate report. Specifically, the Fair Credit Reporting Act, or FCRA is a collection of laws that are designed to regulate the large consumer agencies. These laws allow you to challenge any information that is inaccurate or incomplete.
Credit repair should be more accurately labeled 'credit correction' since it really is a collection of techniques to ensure your record is accurate.
When you dispute a negative item and request verification, credit bureaus and creditors must investigate and respond within 30 days of receiving your written request. If they cant verify an item, it must be removed!
Many reasons prove to be your reason for challenging or disputing an item. For instance, perhaps a debt was taken out in your name without your knowledge or consent. Perhaps you paid a debt but the creditor failed to update their records.
If you are in a hurry to repair your credit and would prefer to avoid the headache altogether, you may consider a full-service credit repair law firm. Many attorneys specialize only in this field. If you do hire an attorney, make sure to check the reputation of the law firm before you plop down your hard earned money. We suggest you look for positive testimonials from past or current clients.
Whenever somebody tells you that credit repair is unquestionably illegal, you must think about the source of that information. Often credit repair is associated with deadbeats who are looking to skip out on financial obligations.
Its not in the interest of large lending corporations, creditors, and credit bureaus for you to pursue your legal right to remove questionable items from your credit report. This is what you have to keep in mind when you encounter any of the common myths about online credit repair.
Youll find plenty of websites claiming that its not possible to fix your credit score, that credit repair simply isnt possible " or even legal. Of course, its in the financial interest of lenders, collection agencies, creditors and even credit bureaus to protect their profits and make sure that mistakes that show up on YOUR credit report are in THEIR favor. They want to collect, and they know that theyll lose money if consumers know " and pursue " their rights to legal credit repair.
Approximately thirty years ago the government enacted laws to help you - the consumer - when it comes to repairing an inaccurate report. Specifically, the Fair Credit Reporting Act, or FCRA is a collection of laws that are designed to regulate the large consumer agencies. These laws allow you to challenge any information that is inaccurate or incomplete.
Credit repair should be more accurately labeled 'credit correction' since it really is a collection of techniques to ensure your record is accurate.
When you dispute a negative item and request verification, credit bureaus and creditors must investigate and respond within 30 days of receiving your written request. If they cant verify an item, it must be removed!
Many reasons prove to be your reason for challenging or disputing an item. For instance, perhaps a debt was taken out in your name without your knowledge or consent. Perhaps you paid a debt but the creditor failed to update their records.
If you are in a hurry to repair your credit and would prefer to avoid the headache altogether, you may consider a full-service credit repair law firm. Many attorneys specialize only in this field. If you do hire an attorney, make sure to check the reputation of the law firm before you plop down your hard earned money. We suggest you look for positive testimonials from past or current clients.
About the Author:
Rebecca Gray contributes to local consumer advocacy journals, online legal directories, and consumer review web properties. Rebecca is also an advocate for lexington law, an affordable credit report repair law firm who's credit attorneys have established a long running track record of successful consumer credit repair.
posted by Credit Counseling at
7:40 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home