WHAT IS THE PROCESS BEHIND CREDIT REPAIR?
Credit repair is a service that helps you remove negative marks from your credit report under the Fair Credit Act, here's how it works.
The credit repair service can help raise your credit score as long as it is complemented with good credit card payments, financing, no more than 5 inquiries in 24 months and a series of healthy financial behavior tips.
If you want to know how a credit score is calculated, visit our blog, What's the math behind the credit score?, where we show you how the credit rating agencies obtain this score.
Now, let's say you find yourself with a banged up credit score and you need a service to help you repair your credit, here's how it works and the process behind it.
HOW TO REPAIR YOUR CREDIT REPORT?
First we obtain your credit report from each bureau
We review and identify potential errors in the report
We dispute by letters all the errors found with the credit bureau that made the error.
We wait 30-45 days while the bureau verifies the information and issues the first response
If the information cannot be verified by the bureau, it must be removed
You will receive a free copy of the credit report to confirm that the erroneous information has been removed
THEY CAN BE DISPUTED:
Payments that appear late but were made on time: this may occur when a payment plan is changed or a debt is negotiated with reduced payments
Incorrect account statuses: such as when an account is listed as “settled in full” instead of “paid in Full”
Outdated information: personal data or outstanding credit accounts that have already been paid
Re-aging: when they make a mistake in the time you started your loan
Inquiries: inquiries can be in your report for up to 2 years and those that are deleted are those from the last 12 months
NOT: If a piece of information cannot be confirmed after 30 days, the credit bureaus must remove it.
Now that you know the process behind credit repair, let us call our specialized agents to give you a free consultation.
You can schedule a call with our specialists for consultation on our repair service, we will help you to improve it.
