|
 Credit
Repair - Do it Yourself?
As the FTC notes: "Only time, a conscious effort, and a personal debt
repayment plan will improve your credit report".
Many people decide to hire credit repair companies to assist them in the
process of credit repair. These companies charge a fee for their services.
There are many reputable and reliable credit repair companies in existence
today. The FTC advises consumers never to pay for
services not yet provided, and always check with the
Better Business
Bureau before hiring a credit repair company.
Fowler & Fowler Credit and Debt Solutions is listed with
the Better Business Bureau
and has a proven track record of success over many years.
Get a Free Credit Evaluation:
Fill out a FREE secure credit evaluation form
online to see exactly how your credit score impacts your financial
situation.
Should you attempt to do it yourself and repair your own credit?
Individuals are able to try to repair their own credit. It is very
important to understand that there may be some risks in doing so. These
risks are particularly great if you are unable to set aside enough time
to work on your credit files, or if your skills, organizational aptitude
and perseverance are not 100%. Those seeking to do it yourself need to
understand that it is possible not only that your attempts will be in
vain, but also that it is possible to do real damage to your
credit report during your repair efforts. We have seen many, many people
make what seems like harmless mistakes while disputing their credit
report - only to end up with an even worse credit file.
Should you purchase a manual or 'credit repair kit'?
If you're thinking about buying a credit repair book or manual, look
very closely at the book or manual you're considering. After reviewing
dozens of these publications, we have found that aside from a low price,
you may also receive out of date information, and inaccurate statements.
We believe that many of these publications have been written by people
who have never tried to repair a credit file in their lives. These
manuals and kits are simply not comparable to working with a
professional. Consumers should understand that the credit repair field
is constantly changing - banks, laws, politics and government are
continually changing, adapting and altering the rules. For this reason,
a professional dedicated to the credit repair field can make a world of
difference to your success at credit repair.
What those do it yourselfers should know about credit
repair.
Vital to your ability to repair your own credit is understanding your
rights, as well as the legal requirements that Credit History Bureaus must
obey. Neither you nor anyone else can remove accurate, albeit negative,
information from your credit history report. What you can do, free of
charge, is request an investigation of information contained in your
credit file that you believe is incomplete or inaccurate. Every power a
credit repair company has to repair your credit history you have too. The
question is - do you have the time and/or the knowledge?
Click here for a FREE online credit evaluation!
No obligation - no cost!!
Click here to order credit repair services online now!!!
Learn more about
professional credit repair services.
You are entitled to one free credit report every year if you can
demonstrate that:
1) you are unemployed and intend to look for a job within 60 days
2) you are on welfare
3) your report is inaccurate as a result of fraud
4) if you apply for your reports through the new annual
credit report website. Learn more here.
If you cannot meet one of these criteria, any credit bureau has the right
to charge you up to $9.00 for a copy of your credit report. The first step
of repairing your credit history is to acquire a copy of your credit
report and read it through carefully for errors and/or out of date
information.
Understand the following rights that protect you as included in the Fair
Credit Reporting Act:
1) Every individual is entitled to a free copy of their credit report if
they've been denied credit, insurance or employment within the last 60
days.
2) If an application for credit, insurance, or employment is denied as a
result of information supplied by a credit bureau, the company you applied
to must provide you with that particular credit bureau's name, address and
telephone number.
3) You have the ability to dispute mistakes or outdated items on your
credit report at no charge.
4) To lodge a dispute, request a dispute form from the credit reporting agency
or submit your dispute in writing, along with copies of any supporting
documentation. Always keep originals of all documents in your possession.
5) Very clearly identify each item in your credit report that you dispute,
provide a written explanation about why you are disputing it (them) and
then request a reinvestigation of all disputed items.
6) If the requested investigation reveals an error on your credit report,
you have the right to request that a corrected version of the credit
report be sent to anyone and everyone who received the flawed credit
report within the past six months.
7) Those individuals who have uncovered errors on their credit reports and
are job applicants can request that the corrected credit report be sent to
anyone and everyone who received their credit report for the purposes of
employment during the past two years.
8) If an investigation reveals an error that results in a change on the
credit report, the credit bureau in question must provide you with written
results of the investigation, as well as a free copy of your accurate
credit report.
9) If an item on the credit report is altered or removed, the credit
bureau is not entitled to reinsert the disputed information into the file,
unless that person or company providing the information verifies its
accuracy and the credit bureau provides you with written notice that
includes the name, address and telephone number of the information
provider.
10) All creditors or information providers should be notified by you, in
writing, that an item is up for dispute. This way, any information
provider that provides information about the disputed item to a third
party must include with the information a notice of your dispute. As well,
if your dispute proves correct, that information provider cannot use the
information in the future.
11) If an investigation into inaccurate information does not resolve the
dispute, request that the credit bureau include your version of the
dispute in your credit file and all future reports.
12) There is no charge for a reinvestigation into a dispute.
Know the reporting rules governing accurate, negative credit
information.
Negative, but accurate, information can be reported on a credit report for
a period of seven years. There are some exceptions to this rule.
1) Bankruptcy information can be reported for 10 years.
2) Credit information reported as a result of a job application for a job
with a salary of over $75,000 has no time limitations placed on it.
3) Information that is reported as a result of an application for credit
of more than $150,000, or for life insurance, has no time limitations
placed on it.
4) Information about a judgment against you or a lawsuit can be reported
for a period of seven years, or until the statute of limitations expires -
whichever period is longer.
5) U.S. Government insured or guaranteed student loans default information
can be included on a credit report for seven years AFTER a particular
guarantor begins certain actions.
If you are unable to resolve your own credit problems and need additional
help, read more about the services offered from Fowler & Fowler Credit and
Debt Solutions.
Click here for a FREE online credit evaluation!
No obligation - no cost!!
Doing it Yourself:
Step 1 - Contact your creditors as soon as you realize that you cannot
make payments and try to work out an acceptable payment plan and budget
Step 2 - Always get a copy of your credit report and review it for errors
Step 3 - Contact Fowler and Fowler Credit and Debt Solutions, or a
credit repair company listed
with the Better Business Bureau, if you need help creating a payment plan or
disputing inaccurate information on your credit report.
Regardless of whether you believe you have a good or bad credit history,
every individual should request a copy of their credit history to ensure
it's accurate. This is particularly important for those contemplating a
big purchase or loan that will require quick and easy access to credit.
Find out what your credit history says about you.
Fill out our FREE online credit evaluation form today.
|
