Credit Repair
Do you find yourself in need of credit repair? Or perhaps someone close to you could use a little help with a poor credit report? The key is caution and responsibility in correcting credit problems. If you plan on contacting a credit repair agency, be cautious as to what kind of promises they make. Know these facts before you call anyone!
- Most ‘legal’ options credit repair companies can offer you; you can do yourself, for free.
- Credit repair companies cannot charge for services until they are completed.
- After you sign any kind of contract, they must allow you three days to change your mind.
- If the negative report is accurate, there is nothing you can legally do to have it removed, except for the passage of time or negotiate with the creditor that made the report to have the negative information removed or modified (usually by some form of agreement to pay an outstanding debt).
Beware and be watchful of Credit Repair Companies! Request a Services Contract or Agreement that specifies everything they’re going to do for you, review it in detail and we suggest that you do not pay a cent until the work is completed and you’ve verified the work through the Credit Reporting Agency (Equifax, Experian or TransUnion).
Sample Letter to Use for Disputes
Below is a sample letter you can use when writing to a creditor or credit reporting agency to dispute a wrong or unknown entry you feel has been made negatively against you:
Date
Your Name
Your Address
Your City, State, Zip Code
Attn: Complaint Department
Name of Company
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.
Specifically, this item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be removed (or request another specific change) or corrected to reflect the proper information.
Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please promptly investigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible. Thank you
Sincerely,
Your name
Enclosures: (List all the documents you are enclosing with this letter)
Help with your Credit issues
The Federal Trade Commission has a very comprehensive website that spells out the pitfalls of credit repair companies as well as step by step how to on repairing your credit on your own. Visit them at: http://www.ftc.gov/bcp/conline/pubs/credit/repair.shtm
Undoubtedly, not all credit assist companies are “out to get you”. Below is a list of companies that claim to be responsible and thorough in their services, while maintaining legality. Deciding if they are appropriate in your situation is up to you, and we provide their information as a service to our site visitors:
Lexington Law™ Credit Repair
Lexington Law says they attempt to improve your credit score by disputing the negative reports and requiring the reporting agency to substantiate the report or delete it. They have a section on fraud detection and maintain a professional demeanor.
www.lexingtonlaw.com
Credit Repair Fix My Credit For Free
The Credit Info Center is a do it yourself center that provides a lot of free information, procedures and even forms to help you fix your credit on your own. If you have the time to do it yourself, this is the way to go.
www.creditinfocenter.com/repair/
