Does Credit Repair Work

Many Consumer ask Does Credit Repair Work?  Sure, In almost all consumer credit reports you will find errors within a tradeline that differ from between the 3 bureaus. Consumers have the right to question those errors.

If you identify information in your file that is incomplete, inaccurate, or unfamiliar to you and dispute it with the consumer reporting agency, the agency will investigate the item unless they deem the inquiry as frivolous.

How do achieve a successful dispute

The best way achieve success is to be realistic in what you dispute. Look over a detailed credit report www.annualcreditreport.com (it is free and very detailed) and locate the inaccuracies, it also helps to understand the pros and cons of disputing certain accounts.  Get familiar with your state statutes, determine whether the dispute should be with the bureau, creditor or collection agency.  Look at what you can do aside from disputing to help your credit. Understand the process before blindly disputing.

 

What accounts can be disputed?

  • Accounts reporting in error:  Review all credit accounts, look for incorrect debt amounts, incorrect dates of last activity, incorrect late payment entries and anything that could cause an issue with potential lenders and cause credit score problems.
  • Expired Accounts: There are 2 types of statutes that deal with expired accounts.  The state statute that deals only with how long a creditor can come after you legally for an alleged debt. The federal statute and that deals with how long a item can remain on a credit report.  Expired accounts are very easy to dispute and have removed if they have not removed them already.
  • Fraudulent accounts: Identity theft can result on fraudulent account being reported on your credit.  If you were a victim of identity theft, check your reports, issue a fraud alert, and file a police report.  If you do encounter accounts that you are unfamiliar with, dispute them with the creditor or credit bureaus.
  • unconfirmed accounts:  Unconfirmed accounts usually fall under accounts due to fraudulent activity or collection accounts. these accounts can be challenged directly to the collection agency or credit bureau. If they are unable to show that the debt or derogatory mark really belongs to you, the credit bureaus, creditor or collection agency will remove the item.

If you consider credit repair on your own be sure to check all three reports and identify the inaccuracies. Learn the pros and cons of disputing certain items.  If you choose to hire someone, please feel free to give us a call to schedule a free consultation or call toll free: 855-598-0446 and we will go over your credit reports line by line and discuss the best plan of action to take on each account as well as identify what you can do to achieve a good credit mix for your  credit report and score.