Should You Hire Someone to Do Your Credit Repair?
If you are having problems with your credit, you may need to get the help of a professional credit repair service.
Alternatively, you can attempt to repair your credit on your own.
Let us take a look at the advantages and disadvantages of both of these methods.
There are several reasons why it may be a good idea to hire a credit repair professional.
You want the expertise of someone who can make sure that inaccuracies in your credit report will be corrected.
You would also rather not go through the bothersome and time-consuming process of credit repair yourself.
However, you should not hire credit repair services expecting them to get you a positive review on your credit even if the negative items on your report are real.
Anyone who promises that they can erase bankruptcies and black marks on your report is scamming you.
They can cause the bad items to go away while they are contesting them, but they are sure to return shortly, in little more than a week's time.
In the meantime, the scammer would have shown you the "clean" report and charged you for it, claiming the service has been fulfilled.
Bankruptcies and other negative items on your credit report will go away in time--bankruptcies after ten years, most other items after seven.
If an item remains in your credit record after such time, then it can be removed.
But if not enough time has passed, then the item cannot be erased unless it is fraudulent.
Let us say you want to do your own credit repair.
Here is what you need to do: First, get a copy of your credit report.
You can obtain a free copy from the bank or credit lender that turned you down, if you apply for one within 60 days of getting notice of the denial.
You can also get it from the nationwide consumer reporting agencies: Equifax, Experian, and TransUnion.
The law states that you are entitled to a free credit report from each of these agencies once every 12 months.
You can also choose to purchase your credit report from them or an online credit reporting firm.
When you have your credit report, examine it carefully to spot discrepancies.
Gather the relevant documentation that can help your case to get the item corrected.
Then send a dispute letter to the consumer reporting agency, citing the inaccurate item and including copies of your supporting documents.
According to the law, you are entitled to an investigation of the disputed item, and there you are not obligated to pay for one.
If the investigation proves you right, the item will be fixed, and the agency will send you one free copy of the corrected report.
It may take a little time and trouble, but it is certainly possible to do credit repair on your own.
Alternatively, you can attempt to repair your credit on your own.
Let us take a look at the advantages and disadvantages of both of these methods.
There are several reasons why it may be a good idea to hire a credit repair professional.
You want the expertise of someone who can make sure that inaccuracies in your credit report will be corrected.
You would also rather not go through the bothersome and time-consuming process of credit repair yourself.
However, you should not hire credit repair services expecting them to get you a positive review on your credit even if the negative items on your report are real.
Anyone who promises that they can erase bankruptcies and black marks on your report is scamming you.
They can cause the bad items to go away while they are contesting them, but they are sure to return shortly, in little more than a week's time.
In the meantime, the scammer would have shown you the "clean" report and charged you for it, claiming the service has been fulfilled.
Bankruptcies and other negative items on your credit report will go away in time--bankruptcies after ten years, most other items after seven.
If an item remains in your credit record after such time, then it can be removed.
But if not enough time has passed, then the item cannot be erased unless it is fraudulent.
Let us say you want to do your own credit repair.
Here is what you need to do: First, get a copy of your credit report.
You can obtain a free copy from the bank or credit lender that turned you down, if you apply for one within 60 days of getting notice of the denial.
You can also get it from the nationwide consumer reporting agencies: Equifax, Experian, and TransUnion.
The law states that you are entitled to a free credit report from each of these agencies once every 12 months.
You can also choose to purchase your credit report from them or an online credit reporting firm.
When you have your credit report, examine it carefully to spot discrepancies.
Gather the relevant documentation that can help your case to get the item corrected.
Then send a dispute letter to the consumer reporting agency, citing the inaccurate item and including copies of your supporting documents.
According to the law, you are entitled to an investigation of the disputed item, and there you are not obligated to pay for one.
If the investigation proves you right, the item will be fixed, and the agency will send you one free copy of the corrected report.
It may take a little time and trouble, but it is certainly possible to do credit repair on your own.
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