Bad Credit History Help
First off let me start by saying this is not "legal advice". The Internet is flooded with companies that advertise their credit repair services. These companies target the consumer who have a poor credit history with the promise that they will clean up their credit report so that they can obtain an auto loan, home insurance or a home mortgage.Unfortunately, many of these companies are deliberately misleading.
Lexington Law Firm - Our top rated credit restoration company is a great option. This company is the leading credit repair company and their average client sees 8.6 deletions in just a few weeks of working with them. It's important to understand Lexington Law Firm is not the only company that is provides good services. They have just proven to be a great option for many of our site visitors.
When looking at these credit repair advice and offers, there are a few telltale signs that the company behind the service is not legitimate. For instance, if the company asks you to pay a large fee before it provides services, the chances are great that it is not a credible company. The Credit Repair Organizations Act states that credit repair services cannot demand payment until they have rendered the services they offer. A company that tells you that you need to dispute all of the information in your credit report - regardless if it is accurate or not also is a company to avoid.
Considering the fact that there are so many misleading ads floating around out there offering to fix your credit for a price, you may wish to consider tackling the job yourself. Did you know that under law you have the right to ask a creditor for your credit report within sixty days of receiving a notice of adverse action against you? This notice provides you with the contact details of the consumer reporting agency. The three national consumer reporting agencies are TransUnion, Experian and Equifax and each of these agencies is required by law to give you a free copy of your credit report each year if you request it.
Once you have received your report, jot down any information that you believe is inaccurate. Make copies of any documents you have that support your findings. Compose a letter which includes all of the information in your report that you think is untrue and state the reasons you are disputing the information. Then ask that it be corrected or removed from your report. It is always a good idea to make a copy of your credit report and circle the items you are disputing. Mail the letter to the consumer reporting company via certified mail so that you are notified when they receive it.
Under law, the consumer reporting companies must look into your claims within thirty days and give you credit repair advice. They also must share the information regarding your claim with the company that reported you. This creditor must then review and investigate the claim and report its results back to the consumer reporting company. If the information on your credit report was indeed inaccurate, it will be reported to the consumer reporting company so that it can be corrected.
Once the investigation is over, you will receive a report stating the results in writing as well as a free copy of your credit report if a change was made. You can then ask the consumer reporting company to send notices of any corrections made to any company that has seen your credit report six months prior to the review.
As you can see, fixing your own credit is not an impossible task, but it does require that you do a bit of work and follow through with the results you obtain. Of course there are plenty of good, legitimate credit repair agencies out there to use, but if you wish to save yourself a few hundred dollars, consider undertaking the task yourself.
|
