Credit Report Experts

Of course it is. You have the right to address all creditor accounts through an audit and verification process scheduled throughout our 30-day intervals.  Every line item needs investigating first and foremost for the information needed for an audit validating the account as required by law under The Federal Credit Reporting Act (FCRA1987 revised 2004) and The Fair and Accuracy Credit Transaction Act of (FACT2004) to show that the account belongs to you and that the specific derogatory reference is entitled to remain. Once you get that out of the way and have dealt with the bad credit, any remaining accounts will need the same type of investigation, but towards the balances reflected, to include an audit of any additional fees and interest.  These investigations are conducted to ensure that the accounts conform to the established guidelines and statues of the Federal Fair Billing Act (FBCA1974 revised 2002).

If you have filed Bankruptcy to get rid of the bad debt then you also can exercise your rights to verify that information as being corrected too.  I

Full Post…

(Source: NCPW)- People with poor credit histories often are targeted by companies that promise to clean up their credit reports so they’ll be able to qualify for a car loan, a mortgage, insurance, even a job. Just as often, these “credit repair” companies say they need a fee of a few hundred – sometimes, a few thousand – dollars before they can go to work on your behalf. The truth is that no one can get accurate negative information removed from your credit report. It’s illegal.When negative information in your report is accurate, only the passage of time can assure its removal. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years.

Other important things to know about credit repair companies:

* By law, credit repair companies can’t require you to pay them until they’ve performed the credit repair services they promised.

* You can ask the three major national consumer reporting companies (Equifax, Experian, TransUnion) to investigate any information in your credit report that you believe is inaccurate or incomplete. There is no cha

Full Post…

Do Not Despair

There are many events that can create the need for credit repair, from the loss of a job to a medical emergency that taps savings and strains an otherwise sound budget. There are also cases of identity theft that, through no fault of ours, cause grievous credit harm. Regardless of the underlying cause, there is never a case that should make us despair.

Expecting Errors

It is important to understand, as you examine your damaged credit report, that the credit reporting system is prone to spawning errors from the seeds of real events. This is not the fault of the credit bureaus. The reporting system is massive and incorporates data from millions of participants, including creditors, collectors, courthouses and the services that gather public records. Expect errors to occur.

Disciplined Self-Monitoring

The need for credit repair is inherently acknowledged by the presence of the Fair Credit Reporting Act (FCRA). The requirement by the FCRA that all national credit bureaus provide free reports to consumers on demand once per year at no charge is a nod to the inevitability of errors. Perfection, from a system of such complexity, is not in the cards. Full Post…

Short Term Versus Long Term

Credit repair can produce wonderful and quick results; credit bureau disputes can remove offensive errors while there are many score optimization tricks that can bump up your scores in no time at all. But some of the work you will do to improve your credit will require time. This does not mean that it will be hard, but if you want genuine enduring results you may need patience.

Your Credit History Starts Today

A quick look at a list of the factors that contribute to your FICO score will reveal the importance of a good established credit history. If you have been through a rough patch you may have very few open accounts. Without open active accounts you cannot establish a credit history. This is one area of credit repair that requires time, and as every day represents money in the FICO bank, now is the time to start building credit that will serve you well in the future.

The Preferred Means of Building Credit

Credit cards are the preferred way of rebuilding credit for the long run and are quite popular among people in credit repair programs. Unlike installment loans that usually have a short life span, credit cards can build a potentially unlimited history. Full Post…

Your Credit Score is Not What You Think

Credit repair is not always clear-cut. You may be surprised to hear that you can pay your bills right on time for years on end and still have crummy credit scores. Your score is not a report card on your payment habits, it is a complex algorithm designed to predict the chance that you will default on a loan. There are numerous factors involved, many of which may seem to have no bearing on your willingness or ability to repay.

You Have Control Over Your Scores

Credit repair is about achieving an optimal balance of the factors that influence your scores. There are many dynamics involved, including the type of debt you use, number of accounts you have, utilization of credit lines, and age of accounts. The FICO scoring model may be a black box, inasmuch as the exact formula is not public knowledge, but the mechanics are not obscure. Credit repair is a science and you can control your scores.

The Credit Bureaus Make Mistakes

Before launching a credit repair effort it is important to know that the credit bureaus manage an unusually complex network of participants, all of which come together to create the credit reporting system. Full Post…