| If you've done any research on the subject, you know | | | | person's credit file. For example, if you have a |
| there's a lot of hype surrounding credit repair. Can | | | | judgment against you, possibly from a small claims |
| these companies really fix your credit report? Do the | | | | court lawsuit or something similar, and were not served |
| strategies and tactics they employ really work? If you | | | | with notice of the lawsuit you stand a good chance to |
| are looking for answers to these questions and more, | | | | get that judgment reversed in court. These errors in |
| you have found the right article. In the next few | | | | procedure and reporting do in fact take place, so don't |
| paragraphs, I'll give you the facts and fiction about | | | | hesitate to question them. |
| credit repair agencies. | | | | Fiction #1 - A credit repair company can make |
| So what is credit repair? Credit repair is the process | | | | legitimate items magically disappear. |
| of fixing your credit report through a series of disputes | | | | No agency, no matter how skilled or seasoned in the |
| with credit reporting agencies. If there are inaccuracies | | | | credit repair field, can remove a legitimate debt from |
| on a persons credit records or even old accounts that | | | | your credit report. If the debt is valid and the creditor |
| should have been removed after a certain period of | | | | has followed all legal guidelines, the record is there to |
| time, these entries can generally be removed by simply | | | | stay until it is either paid or the creditor stops reporting |
| disputing the item with the credit reporting agency. | | | | it. |
| Although the process seems fairly straightforward, | | | | Fiction #2 - Credit repair agencies have "inside |
| there are some ins and outs to credit repair that all | | | | contacts" that can push a button and raise your score. |
| consumers should know before taking this route to fix | | | | Although it would be nice to have direct contact with |
| their credit reports. | | | | the person charged with manning the credit score |
| Fact #1 - Old accounts and inaccuracies can be | | | | "magic button", unfortunately it just doesn't work like |
| removed. | | | | that. A person's credit score is calculated by a |
| You can remove old accounts and inaccurate | | | | mathematical formula automatically, and is not manually |
| information that may be affecting your credit score | | | | assigned to individual consumers. To say that it can be |
| from your credit records. Credit reporting agencies | | | | altered by simply making a phone call to a secret |
| have guidelines and federal laws they are obligated to | | | | contact is just ludicrous. |
| follow. If you have found an item on your credit report | | | | It is important to know that there are legitimate credit |
| that you are sure is inaccurate, you can dispute this | | | | repair agencies out there. If you want to fix your credit |
| item with the credit reporting agency and have it | | | | report, these agencies can provide you with a great |
| removed. | | | | service. But be wary of over-the-top claims and hyped |
| Fact #2 - Some creditors on your report may be | | | | up advertisements. If you are serious and want to fix |
| reporting illegally. | | | | your credit report, be sure you are dealing with a |
| It seems far-fetched, but it is true. Creditors, just like | | | | reputable company who has proven results in the field |
| credit reporting agencies, have guidelines and laws | | | | of credit repair. |
| they are obligated to follow when reporting to a | | | | |