Credit Repair Companies: Can They Really Erase Bad Credit?
Where can I go for real credit repair help?
So-called credit repair companies trumpet the ability to restore you to a good credit standing. Yet, exactly how can people, who are already in a financial hole, be able to meet up with the high costs these companies charge? Where can someone go to find genuine assistance that will guarantee a better credit report without condemning in the course of financial healing?
Scams and fraud involved with credit repair companies?
As the demand for credit repair rises, the opportunities for scams become more common. As the economy slows down and debt levels rise, more and more people are turning to credit repair for help. Without awareness, many consumers fall victims to fraud, unconscious of the possibility of losing even more than what they had at the beginning of their credit repair journey. Some companies actually distribute inaccurate information, which can be severely harmful to a probable good name.
Anyone who uses credit has a credit score. This is, by far, one of the most powerful possessions you can have in today’s world. Some who have fallen deep into debt become vulnerable and are the main targets for scam companies to easily fasten their grip on. Be aware of their attractive headlines that can definitely capture your thoughts and intentions in such a way that might mislead your good judgment.
Accurate info cannot be removed from your credit report
In actuality, no one can legally remove accurate negative information from a credit report. Although they are obligated to remove or correct inaccurate, incomplete or unconformable information, usually within 30 days, they are not required to remove accurate information unless it is more than seven years old, or over ten years if it’s a bankruptcy.
The BBB can help
Finding a reputable credit repair company is hard. If you should decide to head towards that direction, make sure to do your own research. Contact the Better Business Bureau and analyze any consumer complaints and make sure they do not have any outstanding legal investigations. Study and understand your rights as a citizen; they too must abide by all the laws and follow specific guidelines from the Credit Repair Organizations Act.
Can a credit repair company do something that I can’t on my own?
However, you can save yourself the risk and certainly more money by improving your credit on your own. There are tons of non-profit credit counseling organizations, such as The National Foundation for Credit Counseling (NFCC), that are able to help you contrive a plan to get your credit under control. Remember the well-known saying of, “There is nothing a credit repair company can do to improve your credit that you can’t do for yourself.”
Credit repair is especially hard for those who are need of a little financial relief. Although many are hard-working citizens who have been thrown one of life’s little surprises, there are not many options to work with when your credit rating is still bad.
Personalmoneystore.com can help.
Personalmoneystore.com provides no fax payday loans without performing credit checks. On top of that, they are fully equipped with helpful tips and information to prevent financial fall backs and how to repair credit fast on your own.
So, when your reputation with the credit agencies needs some help, don’t rely on credit repair companies; use personalmoneystore.com instead!
LIES! LIES! LIES! Adverse, yet accurate, credit is DELETED often! The Fair Credit Reporting Act CLEARLY states under “§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]…(5) Treatment of Inaccurate or Unverifiable Information
(A) In general. If, after any reinvestigation under paragraph (1) of any information disputed by a consumer, an item of the information is found to
be inaccurate or incomplete or CANNOT BE VERIFIED, the consumer reporting
agency shall–
(i) promptly DELETE that item of information from the file of the consumer, or modify that item of information, as appropriate, based on the results of the reinvestigation; and…”
“CANNOT BE VERIFIED” is different from inaccurate information… different from incomplete information.
THEREFORE, UNVERIFIABLE information can be DELETED TOO! More often than not, accurate, but UNVERIFIABLE, items are DELETED just as any other unfair items are. Lately, all this propoganda strangely leaves out the aforementioned loophole! WHY?? Are ‘they’ afraid of consumers becoming too empowered? Too educated? Obviously, too many people fall victim to and believe the credit bureau HYPE & MYTHS. Even the Better Business Bureau, the media and arguably the FTC, is not immune from credit bureau misleading misinformation.
The article suggests contacting the BBB. I would also recomment you contact the Ethical Credit Repair Alliance as well.
Sure, there are a lot of scammers in the credit repair profession. But there are a lot of reputable companies as well. And you can rest assured those companies are more concerned about your financial interest than the credit bureaus are!