Is Credit repair legal?
Credit repair is a legal and essential service, where credit reporting agencies are help accountable. The Fair Credit Reporting Act gives you the right to disputing your credit report. It is also your right to hire a credit repair company to help you with your credit repair needs. In fact, U.S. District Court Judge J. Wexler entered the following legal opinion in the Federal Supplement. “Since allowing third parties to assist consumers will likely lead to the expedited correction of credit reports, it will further the purposes of the [Fair Credit Reporting] Acts.
Though credit bureaus would like you to believe otherwise, credit repair is perfectly legal. Not only is it legal to dispute items on your credit report, it is also your right to do so, as declared by the Fair Credit Reporting Act. To draw an analogy, credit repair is as legal as making a “not guilty” plea in court.
Absolutely! It is your legal right to dispute items on your credit report. Pro Source Credit Solutions exercises your legal rights pursuant to the Fair Credit Reporting Act, the Fair Credit Billing Act, Truth in Lending Act, and Fair Debt Collection Practices Act, as well as other applicable Federal statutes. We recommend that you stay away from services that recommend that you attempt to obtain a new/alternate social security number, attempt to create a consumer credit profile under a EIN, or create “fake” credit profiles by intentionally reporting false data. These tactics can be illegal and/or unethical and, if caught, can result in significant personal liability. Surprisingly, this is still often asked. It is because of consumer complaints about inaccuracies and incomplete credit reports that congress passed laws allowing for, and specifying the procedures, for credit repair. Pro Source Credit Solutions credit repair process is 100% legal. In fact, one of the key laws (The Fair And
Yes, although it depends on the method. For example, while it is legal to challenge negative items on your credit reports which you believe to be inaccurate, misleading, or unverifiable, accurate information is supposed to remain on your credit report. By contrast, it is entirely illegal to create a “new” identity by applying for an Employer Identification Number to use instead of one’s Social Security Number a process known as file segregation in order to escape responsibility by hiding one’s credit history. File segregation is a serious crime and can result in fines or imprisonment.
