The term "Credit Repair" might set off an alarm bell in your head. To the novice, credit repair involves all sorts of underground or illegal tactics. That is probably because there are so many contradictory "experts" and credit repair companies advertising there services on the Internet.
So much of what you read about credit repair makes it sound like this is simply an underhanded strategy used to evade debt and escape accountability, but you have to consider the source of this information.
When you consider that credit bureaus are for-profit institutions, it is no surprise that they are not motivated to double check the accuracy of your credit history. That is why these large companies prefer to convince you that repairing your credit is against the law.
Pursuing your rights when it comes to credit repair is no different than pleading 'not guilty' in a court of law. Even though creditors, credit bureaus, collection agencies, and other for-profit institutions will dissuade you from this right, credit repair is your right - and even sometimes your obligation if you are in need of a new job, a career change, or emergency financing. Often, negative information will prevent you from these pursuits.
Approximately thirty years ago the government enacted laws to help you - the consumer - when it comes to repairing an inaccurate report. Specifically, the Fair Credit Reporting Act, or FCRA is a collection of laws that are designed to regulate the large consumer agencies. These laws allow you to challenge any information that is inaccurate or incomplete.
Attorneys who are involved with consumer credit advocacy often are outraged when bankers claim information must remain on your file for seven years. The truth is that creditors and bureaus can report any information as long or short as they like.
When you dispute a negative item and request verification, credit bureaus and creditors must investigate and respond within 30 days of receiving your written request. If they cant verify an item, it must be removed!
This gives consumers the legal recourse to challenge errors and inaccuracies in their credit reports, which could be anything from a case of an entry that belongs on someone elses credit report, to debts that you have previously paid off, to a negative entry that you have every legal right to question. These are mistakes that could cause you to be denied the credit you deserve.
In many cases, legal advice and assistance can help you find a solution to credit repair, and who better to guide your through the process of legal credit repair than an attorney skilled in the credit repair process. If you do opt to select a credit repair attorney, make sure that the law firm is affordable and reputable. You may want to seek a law firm with a long track record and who has generated testimonials from satisfied clients.
So much of what you read about credit repair makes it sound like this is simply an underhanded strategy used to evade debt and escape accountability, but you have to consider the source of this information.
When you consider that credit bureaus are for-profit institutions, it is no surprise that they are not motivated to double check the accuracy of your credit history. That is why these large companies prefer to convince you that repairing your credit is against the law.
Pursuing your rights when it comes to credit repair is no different than pleading 'not guilty' in a court of law. Even though creditors, credit bureaus, collection agencies, and other for-profit institutions will dissuade you from this right, credit repair is your right - and even sometimes your obligation if you are in need of a new job, a career change, or emergency financing. Often, negative information will prevent you from these pursuits.
Approximately thirty years ago the government enacted laws to help you - the consumer - when it comes to repairing an inaccurate report. Specifically, the Fair Credit Reporting Act, or FCRA is a collection of laws that are designed to regulate the large consumer agencies. These laws allow you to challenge any information that is inaccurate or incomplete.
Attorneys who are involved with consumer credit advocacy often are outraged when bankers claim information must remain on your file for seven years. The truth is that creditors and bureaus can report any information as long or short as they like.
When you dispute a negative item and request verification, credit bureaus and creditors must investigate and respond within 30 days of receiving your written request. If they cant verify an item, it must be removed!
This gives consumers the legal recourse to challenge errors and inaccuracies in their credit reports, which could be anything from a case of an entry that belongs on someone elses credit report, to debts that you have previously paid off, to a negative entry that you have every legal right to question. These are mistakes that could cause you to be denied the credit you deserve.
In many cases, legal advice and assistance can help you find a solution to credit repair, and who better to guide your through the process of legal credit repair than an attorney skilled in the credit repair process. If you do opt to select a credit repair attorney, make sure that the law firm is affordable and reputable. You may want to seek a law firm with a long track record and who has generated testimonials from satisfied clients.
About the Author:
Rebecca Gray contributes to local consumer advocacy journals, online legal directories, and personal finance web properties. Rebecca is also an advocate for lexington law, an affordable credit report repair law firm who's credit attorneys have established a long running track record of successful consumer credit repair.
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