Every day you hear about people losing their homes or having their vehicles repossessed. As you can imagine, these types of things will affect their credit rating tremendously. In light of this, people are wondering if it is legal to repair credit. Thankfully, the answer to this is "yes," credit repair is, indeed, legal.
A quick internet search will provide you with the web sites of a multitude of companies who profess to rebuild your credit for a fee. These companies may seem to be a wish come true to those who suffer from bad credit and want to increase their credit score.
Even though many promises made by these companies cannot be fulfilled legally, it is legal to repair your credit within the confines of the law. There are many legitimate companies who will and can help to improve your credit score.
If a company claims it can remove court judgments and bankruptcies from your credit history, don't believe them! While this can be done, it can only be done if there is a significant reason for doing so. One such reason would be if the bankruptcy wasn't yours and was applied to your credit history by mistake. A bankrutpcy will typically remain on your credit report for up to ten years and, if you have actually filed bankruptcy, then there is no LEGAL way to remove it.
In reality, the best advice regarding credit repair is to do it yourself. You can accomplish everything these companies can if you have the desire and knowledge to do so.
To begin your credit repair, you will need to request a copy of your credit history. You can do this by contacting TransUnion, Experian, or Equifax, the three major credit reporting agencies, and requesting that they provide you with a copy. It is your RIGHT to request and obtain a copy of your credit report from each of these credit reporting agencies once evey 12 months. Alternately, you can request a copy from Annual Credit Report by calling (877) 322-8228.
You should review your credit report carefully once you receive it. You should be on the lookout for any inaccurate or false information. You can request that the inaccurate or false reporting be amended or removed by writing a letter to the credit reporting agency. If you have any documentation which supports your claim, then you should include it with the letter. Always keep copies of all correspondence and documentation to and from the credit reporting bureau.
Credit repair is legal. The only question remaining is if you have the desire to do-it-yourself. - 31377
A quick internet search will provide you with the web sites of a multitude of companies who profess to rebuild your credit for a fee. These companies may seem to be a wish come true to those who suffer from bad credit and want to increase their credit score.
Even though many promises made by these companies cannot be fulfilled legally, it is legal to repair your credit within the confines of the law. There are many legitimate companies who will and can help to improve your credit score.
If a company claims it can remove court judgments and bankruptcies from your credit history, don't believe them! While this can be done, it can only be done if there is a significant reason for doing so. One such reason would be if the bankruptcy wasn't yours and was applied to your credit history by mistake. A bankrutpcy will typically remain on your credit report for up to ten years and, if you have actually filed bankruptcy, then there is no LEGAL way to remove it.
In reality, the best advice regarding credit repair is to do it yourself. You can accomplish everything these companies can if you have the desire and knowledge to do so.
To begin your credit repair, you will need to request a copy of your credit history. You can do this by contacting TransUnion, Experian, or Equifax, the three major credit reporting agencies, and requesting that they provide you with a copy. It is your RIGHT to request and obtain a copy of your credit report from each of these credit reporting agencies once evey 12 months. Alternately, you can request a copy from Annual Credit Report by calling (877) 322-8228.
You should review your credit report carefully once you receive it. You should be on the lookout for any inaccurate or false information. You can request that the inaccurate or false reporting be amended or removed by writing a letter to the credit reporting agency. If you have any documentation which supports your claim, then you should include it with the letter. Always keep copies of all correspondence and documentation to and from the credit reporting bureau.
Credit repair is legal. The only question remaining is if you have the desire to do-it-yourself. - 31377
