Credit Repair Agencies

| April 2, 2012 | 0 Comments
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In discussing credit repair agencies, there is hardly anyone who has been in down financially that would not give anything to have his or her credit report cleaned up as quickly as possible in order to enable him or her to have higher chances of getting approval for loan applications. If you have experienced financial setbacks in the form of foreclosure, late payment of loans and filing for bankruptcy, they all have a way of injecting that negative impact into your credit report. In this case, you find yourself in a very tight spot if you don’t make any effort towards redeeming or repairing your credit image for the sake of potential creditors.

This is where the credit repair agencies come in. As far as the repair of your bad credit is concerned, it is a task that is process oriented. Based on this, the credit repair process is divided into three parts which involves the following:

  •  The agency making sure that you get all three credit reports from the three major credit bureaus, namely Equifax, Experian and TransUnion.
  • The agency then reviews the content of the credit report with you and unanimously come to an agreement as to which of the items should be disputed.
  • With this agreement, the agency contacts the bureau and starts the process of disputing the incorrect entries in your report and subsequently working towards clearing your debts.

In making use of credit repair agencies, bear in mind that they can only dispute the negative information that is not correct. For the negative information that is accurate, nothing can be done about them till they are erased after a period of seven years. Based on this, you have to beware of any credit repair agency that promises to erase your accurate negative information on the credit report since this is illegal.

Always ensure that you keep your eyes open for these credit repair agencies that make lofty promises and at the end of the day, rip you of the little money you have on you on the pretext of rebuilding or repairing your bad credit report. Instead work hard towards improving your score by staying away from further debts and using your credit card on necessities.

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Category: Blog, credit repair companies, Credit Repair Law Firms

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