How Credit Repair Services Really Work
Struggling with a bad credit score? Read about how credit repair services
have helped raise clients credit scores by hundred(s) of points but don't
exactly understand how it's done? Well take a few minutes, read this article and
I'll shed some light on the subject for you.
First things first, credit repair is legal. It is your right under the Fair
Credit Reporting Act to dispute questionable items that appear on your credit
report. It is this act that credit repair services use to challenge items on
your credit history to raise your credit score.
Credit Repair Services Steps
STEP 1: Your Credit Reports
The first step is getting a copy of your credit report from the three credit
bureaus (Equifax, TransUnion, Experian). Without up-to date information not
credit repair company can determine what to dispute. Different credit repair
services will handle this information differently. Lexington Law the credit
repair law firm I'm familiar with requests you send them copies of your three
credit reports.
STEP 2: Determine which items to dispute
The benefit of using a credit repair service shines in this step. They have
years of history to go on when deciding which items to dispute on your credit
report. The professional knows what will and won't be removed, so there won't be
any wasted time trying to remove an item they know is impossible to get deleted.
Considering a dispute can take about 60 days, any savings of time is
important, and will speed up the process for you greatly.
STEP 3: Dispute the credit report errors
Credit repair services will either guide you or write the letters themselves
that will be sent to the credit bureaus. This is when the actual dispute takes
place, and from receiving your letter the bureaus have 30 days to investigate
then get back to you. If they cannot prove that the item is in fact correct it
will likely be deleted. Often times if a creditor does not reply to the bureau
within the 30-day period you'll be successful with the deletion.
STEP 4: Request new credit reports
Once the dispute process is complete you should request new copies of your
credit report to check if the items have indeed been deleted. Most credit repair
lawyers or specialists will want fresh copies of your report on file to
determine if they were successful.
STEP 5: Rinse, Wash, Repeat
If there are other items you wish to dispute, you start the process all over
again. As I mentioned before using a credit repair service greatly decreases the
amount of time you'll be spending disputing items on your credit report. Because
they know what items will and won't be deleted you'll save time not disputing
wasted items.
My suggestion is you check out Lexington Law. They're a credit repair law
firm that has been in business since 1991. They've deleted hundreds of thousands
of credit report items and have a very competitive price structure. If you visit
their site there is a toll-free number on each page you can call to get a live
person on the line to discuss your particular situation. I find talking with a
real person makes it easier to understand their services and how they can help.
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