Repair Credit Report – Improve & Fix Bad Credit
For many people the world of credit repair can be overwhelming. Unfortunately this is sometimes caused by the industry that has done a poor job of communicating the truths about how to repair credit reports and improve FICO credit scores.
If you are feeling confused or just looking for information on how to repair credit, the goal of reapircreditadvisor.com is to provide straightforward facts about improving your credit thru credit repair.
To start lets take a look at some of the most common misunderstanding many people have about credit repair and how you can use these misunderstandings to your advantage.
MYTH #1: “Credit repair doesn’t work!”
It is very common for many people to view credit repair as difficult, but that shouldn’t hide the fact that it undoubtedly works! If you follow the basic steps to repair your credit report, you’ll find it is pretty easy and can definitely improve your credit score. Although there is never any guarantee you can fix your credit score to “perfect” status in a short time frame, many people can achieve results that are very impressive bringing their score back to average or sometimes above average.
Since creditors are reporting information about you to the credit bureaus, credit reports are notorious for having errors which can greatly impact your credit score. Many studies have estimated between 50% to 75% of all credit reports contain errors.
Using a simple do it yourself credit repair process and removing negative errors on your credit report can help you improve your credit score pretty quickly.
MYTH #2: “Negative information that can be verified cannot be removed”
This is one of those statements that is “almost” true, but taken at face value it can be misleading. As is often time the case, the inclusion (or exclusion) of one seemingly small word makes the difference in a truthful statement, and one that’s not (or not necessarily) accurate.
In the above statement that word is verified. With credit repair just because a negative item on your credit report can be verified it does not mean that it will be verified. The word “verified” actually puts the power in the hands of you and was lawfully structured that way.
According to the Fair Credit Reporting Act, a credit bureau, has a legal obligation to investigate and verify all items you dispute and it must be done within a “reasonable period of time”. If a credit bureau finds information is inaccurate or if it can not be verified, the credit bureau must quickly remove all entries of the inaccurate information.
In numerous court cases the definition of quickly has been established as 30 days which is good news for you. If a credit bureau does not finish its investigation of a dispute within 30 days or if a creditor does not respond to the credit bureau about your dispute, by law the disputed information has to be deleted from your credit report.
MYTH #3: “You have to hire a credit repair agency or lawyer to fix your credit”
As with any task in life you can hire a credit repair expert to improve your credit. But it is not necessary to hire a professional credit repair company to fix bad credit. It can actually be done by yourself with amazing results in as little as 37 days.
Some people prefer to improve their credit by hiring a professional credit repair company. If that describes you it is totally fine. Based on or extensive background in the industry, we recommend Lexington Law, the online leader in fixing bad credit.
MYTH #4: “It’s too difficult or complicated to fix your own credit”
Repairing credit is not difficult. You can actually get results in as little as 37 days. To be fair a credit repair company does not have some magic wand that will get you better results than if you approached the process yourself. In a nutshell improving your credit is not rocket science if you get a good do it yourself credit repair kit.
With out a doubt “given the proper knowledge, you can fix your own credit”. And given the proper knowledge, you can fix your credit just as fast as a professional credit repair firm.
While fixing your own credit is relatively simple and straightforward, you should learn about the credit repair process.
MYTH #5: “You improve your credit score by getting all the negative items on your credit report removed”
Your credit score is actually calculated by a fairly complex calculation. So it is actually possible to get every negative item on your credit report fixed and see your credit score drop. There are some cases you are better off not removing a negative item at all. This is why it is important to get a do it yourself credit repair kit before approaching the process blindly.
MYTH #6: “Credit repair agencies are all scams”
There is no doubt over the years there have been a few credit repair companies out there which took advantage of people. Normally these tactics involve requiring several thousands of dollars in payments up front before any work was done.
But you can’t let a few bad apples in an industry form your opinion of the whole industry. There are very reputable credit repair companies out there that have achieved results for millions of people.
While we recommend you repair your credit yourself, some individuals prefer to use a credit repair company. If you select a credit repair company, it is important that you do your “homework” when selecting an agency.
There are many honest credit repair companies that are not “scams.” But beware especially of those companies that want thousands of dollars up front. The industry norm is to charge about $100 upfront after initial work has been completed. Then expect to pay a low monthly fee until your credit is repaired.
Overall no matter the myths, the fact remains that a bad credit history, can (and probably will) cost you many thousands of dollars in higher loan interest over the years, as you’ll be charged much higher rates than you would be with good credit. If your credit is really bad, you may not be able to get a loan at all!
While this situation is difficult it isn’t hopeless! In almost every case you CAN improve your credit score. You can easily do it yourself or find a reputable agency to do it for you. But in any case, GET IT DONE!