Can you REALLY trust a Credit Repair Company?
As a well known mortgage and credit expert I am regularly asked if credit repair really works. Credit repair can be extremely effective if performed the right way.
Be careful who you choose because many credit repair companies collect money from consumers for credit repair services, but the services they perform are nothing more than mailing the credit bureaus simple dispute letters.
Some companies perform only a few basic disputes, for example it might be disputed that the consumer was never late on an account. The hope and intent is that the creditor will not reply to the dispute and the item will be deleted off the credit report. These types of disputes depend on human error to be effective.
Over the last few years the credit bureaus have discovered these credit repair methods. To counter, the bureaus now use computer systems named E-Oscar and OCR.
The credit bureaus E-Oscar and OCR computers locate letters which appear to come from credit repair companies then respond to those disputes calling them frivolous. The credit bureaus E-Oscar computer then processes the dispute electronically nearly eliminating human error.
The credit bureaus E-Oscar computer now renders these older types of disputes minimally effective. Some negative items will get removed to only be put back on the report a little later. Typically the only accounts that will be permanently removed are old accounts which have no real effect on the credit score anyway.
BUT, all hope is not lost
REAL credit repair is actually extremely effective, but it also is time consuming. Accounts need to be disputed in a mythological manner and the most effective disputes are done direct to the creditor themselves.
There are hundreds of consumer protection laws designed to protect consumers such as FACTA, The Fair Credit Billing Act, The Fair Debt Collection Practices Act, HIPPA, , and many more which can be used to get your negative credit items deleted.
Many creditors completely ignore and violate multiple state and Federal laws with the hopes that you do not possess the knowledge or time to be able to challenge them.
Most people do not possess the legal knowledge to defend themselves. You would have to spend endless time learning all of the hundreds of consumer protection laws to know enough to challenge your creditors successfully on your own.
Using Federal and state law violations as leverage to force creditors to delete negative items is a VERY effective repair tactic. Credit companies who do this and participate in direct creditor disputing typically see deletion rates of 70% or higher.
The drawback is in order to delete your negative accounts; you will spend endless hours learning how to dispute your own credit items. Or you can find a highly recommended professional credit repair company to do it for you. But make sure you find a very reputable credit company.
There are only a few truly 100% legal credit companies in the United States. One of the most popular companies who produce the strongest and fastest results is Elite Credit out of the Tampa Florida (www.perfectcreditfast.com.) I have personally seen their results, and even I am impressed. You will not find better, faster or stronger results at such an affordable price anywhere else.
Or you can visit credit forums and start learning how to try to fix your credit your own. Whatever you do, do not decide to do NOTHING. Credit problems are estimated to cost an individual consumer over $1,000,000 over a 30 year time period.
Strong dispute methods could remove most of your negative credit items, and this could be the difference between you just struggling living paycheck to paycheck or living your dram life.
Get started today with fixing your own credit, or hire a professional. Whichever you chose get started now on rebuilding your credit profile and your financial security. - 16931
Be careful who you choose because many credit repair companies collect money from consumers for credit repair services, but the services they perform are nothing more than mailing the credit bureaus simple dispute letters.
Some companies perform only a few basic disputes, for example it might be disputed that the consumer was never late on an account. The hope and intent is that the creditor will not reply to the dispute and the item will be deleted off the credit report. These types of disputes depend on human error to be effective.
Over the last few years the credit bureaus have discovered these credit repair methods. To counter, the bureaus now use computer systems named E-Oscar and OCR.
The credit bureaus E-Oscar and OCR computers locate letters which appear to come from credit repair companies then respond to those disputes calling them frivolous. The credit bureaus E-Oscar computer then processes the dispute electronically nearly eliminating human error.
The credit bureaus E-Oscar computer now renders these older types of disputes minimally effective. Some negative items will get removed to only be put back on the report a little later. Typically the only accounts that will be permanently removed are old accounts which have no real effect on the credit score anyway.
BUT, all hope is not lost
REAL credit repair is actually extremely effective, but it also is time consuming. Accounts need to be disputed in a mythological manner and the most effective disputes are done direct to the creditor themselves.
There are hundreds of consumer protection laws designed to protect consumers such as FACTA, The Fair Credit Billing Act, The Fair Debt Collection Practices Act, HIPPA, , and many more which can be used to get your negative credit items deleted.
Many creditors completely ignore and violate multiple state and Federal laws with the hopes that you do not possess the knowledge or time to be able to challenge them.
Most people do not possess the legal knowledge to defend themselves. You would have to spend endless time learning all of the hundreds of consumer protection laws to know enough to challenge your creditors successfully on your own.
Using Federal and state law violations as leverage to force creditors to delete negative items is a VERY effective repair tactic. Credit companies who do this and participate in direct creditor disputing typically see deletion rates of 70% or higher.
The drawback is in order to delete your negative accounts; you will spend endless hours learning how to dispute your own credit items. Or you can find a highly recommended professional credit repair company to do it for you. But make sure you find a very reputable credit company.
There are only a few truly 100% legal credit companies in the United States. One of the most popular companies who produce the strongest and fastest results is Elite Credit out of the Tampa Florida (www.perfectcreditfast.com.) I have personally seen their results, and even I am impressed. You will not find better, faster or stronger results at such an affordable price anywhere else.
Or you can visit credit forums and start learning how to try to fix your credit your own. Whatever you do, do not decide to do NOTHING. Credit problems are estimated to cost an individual consumer over $1,000,000 over a 30 year time period.
Strong dispute methods could remove most of your negative credit items, and this could be the difference between you just struggling living paycheck to paycheck or living your dram life.
Get started today with fixing your own credit, or hire a professional. Whichever you chose get started now on rebuilding your credit profile and your financial security. - 16931
About the Author:
Blake Kinsing has spent over 13 years in the finance sector and has spent much of his career helping his clients overcome credit issues and qualify for loans. He has been operating his own Credit Forum and credit repair review sites for the last 7 years. Select here for more vital information on ethical credit repair.
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