What is Credit Repair?
The only way to repair credit is through the process of writing dispute letters to the three major credit reporting bureaus. Even if you call them on the phone, they will require you to send letters regarding any items you want to dispute on your credit reports. Though writing letters may seem like a simple step, repairing your credit is not. You usually have to send endless letters and the credit bureaus will often discourage you by refusing to investigate. This is where the law is on your side. You have the right to continue to dispute any incorrect items on your credit report and the credit bureaus are required to continue to investigate each and every item you are disputing.
Though the law is on your side, the Credit Repair process is frustrating and incredibly bureaucratic to say the least. This is why there are thousands of companies that will handle Credit Repair for you. Others will sell you a Do-It-Yourself kit to help you clean up or repair your credit.
Credit Repair is Possible and Legal
Credit repair is not only possible, it is totally legal. The Fair Credit Reporting Act (FCRA) protects you. The FCRA maintains that the credit bureaus should always have an accurate and verifiable accounting of your credit history.
If at any time you determine that the information on your credit report is not accurate, then you can ask for an investigation. A credit bureau must respond to every request for an investigation and get back to you within a reasonable amount of time (usually within thirty days).
The credit bureaus must contact a company that has submitted an item you are disputing and ask for verification that the information on your credit report is accurate. Based on the company's response, the credit bureau will then leave unchanged, update, correct, or delete the item. If a company in question does not respond in a reasonable amount of time, then that item must be removed from your credit report until it is verified. A Credit Repair expert has experience in dealing with the Credit Bureaus and can usually get better results, faster than if you attempted to repair your credit on your own.
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