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Using Credit Repair Companies to Fix Your Credit

Mistakes on your credit report can be costly. They can cost you a loan, raise your interest rates, and even prevent you from getting a job or apartment you want. Getting inaccurate and negative entries off of your credit report is hard, but credit repair companies can help you do just that.

When you choose a credit repair company, do your homework. Some promise you the sky, but fail to deliver. Be wary of any company that promises to erase your bad credit, remove bankruptcies or judgments, or create a new identity for you. These companies are likely scams. A good credit repair company can’t erase all the negative information from your credit report.

Using Credit Repair Companies to Fix Your CreditReputable credit repair companies will give you help with managing your finances and will help remove negative items from your credit report. The company will examine your credit report for items that you can dispute and contact the credit reporting agency for you and attempt to have them removed. Under the Fair Credit Reporting Act, the agency is required to remove inaccurate or incomplete information from your report. However, bankruptcies and verified negative entries stay on your report for 10 and 7 years respectively.

Once the credit repair company disputes any information, the credit reporting agency must investigate it. Here are a few things to look for when you choose a credit repair company. Be sure the company your work with does not require any upfront fees. You pay once the company provides the service. Do not work with a company that wants you to get an Employer Identification Number from the IRS.

Follow these tips when you start looking for credit repair companies. Credit repair can work, but only with the help of a true professional. Start repairing your credit today.

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