WHAT IS CREDIT REPAIR?
Credit repair is the process by which you clean up inaccuracies on your credit report, delete wrong or inaccurate information, protect your credit identity and become more informed on credit matters. If you repair your credit, your credit score will improve and you will obtain better interest rates and save you money.
Credit repair is the act of fixing erroneous items on your credit report to improve your credit score. Most credit reports have some inaccurate information Accounts that are paid off that still appear open, late payments that were never late, etc. Fixing your credit report can lead to a better credit score, which can save you hundreds when you finance new purchases.
Many people are a little confused when they hear the term credit repair, and are not sure exactly what it means. The credit system in the United States can be quite confusing! In layman’s terms, credit repair is when an individual takes a pro-active stance when it comes to the information that is listed on his or her credit report. It involves obtaining copies of the credit report several times a year and carefully studying the information in the report to make sure it is all correct. If the individual sees information on the credit report that is wrong, then they take steps to either dispute the information with the credit agency or request that the credit agency correct the information. Credit repair is used to make your credit report as perfect and as up to date as it could possibly be. It is particularly useful for anyone who has filed for bankruptcy and wants to start the task of rebuilding their credit. There are credit repair services available that will help people who want to
is the process whereby you or someone on your behalf attempts to get negative information removed from all three credit reports. The vast majority of the time, the information under attack is negative and 100% accurate. The goal of a credit repair company is to get accurate, negative information removed from your credit reports. Once those negative records are removed, your credit scores will be higher and lenders and insurance companies will think you are a better risk than you really are. As you’ve no doubt already realized, credit repair isn’t an ethical endeavor. If you use a credit repair organization you’re basically paying them to lie for you. Having legitimately incorrect information removed from your credit reports is not credit repair. Don’t get the two confused. Credit repair services generally charge a set-up fee and a reoccurring monthly fee. Normally, that fee ranges from $39 per month to $89 per month. The real question about credit repair companies is: “Exactly what are
