Finding The Right Credit Repair Company In San Diego, Ca
Finding A San Diego, CA Credit-Repair Company Is Easy
. Finding The Right One Takes Effort.
With the growing crisis in our country involving consumer credit, it should be no surprise that the number of credit-repair companies have grown proportionally as well.
Unfortunately this is not a good thing as the majority of these services offer little in the way of actual credit repair. Instead they prey on the emotions of people already in the throes of desperation, facing bankruptcy, and possibly unable to avoid or stop foreclosure on their homes. It has gotten so bad that a special federal law was named after it, The Credit Repair Organizations Act.
Most credit-repair companies in San Diego, CA employ one of two strategies. Most take the easy route by simply challenging every negative listing on your credit report by sending the credit reporting bureaus with what amounts to a form letter. Their thinking is if you flood the bureaus with many requests at the same time it will be difficult for them to meet the 30 day verification period, whereby the items not verified will come off your credit report.
The problem with this ploy is that the bureaus will eventually verify the information at which point it gets put back on your credit report. The bureaus may be slow but they are relentless. What about FACTA you might be asking? Doesn't that state if the bureaus don't verify within 30 days the information has to be removed. The law protects the creditors as well in FACTA, for it says that the dispute must be verifiable and legitimate. The key word here is legitimate. The "shotgun" approach won't work in this arena.
Another trick being used by credit-repair companies in San Diego County is to set up a new identity for you. From the very beginning this method is fraught with peril, and the repercussions could have very serious consequences. What is happening is you are being established with a false identity, which may lead to all manner of legal unpleasantness.
For many people under financial duress money is usually in short supply and the thought of having to part with any of it is overwhelming, yet most credit-repair companies insist that for them to be effective you have to send them a sizable amount up front, often hundreds or thousands of dollars, just to get the process started. Then they effectively bleed you dry by requesting additional fees for what they consider extra work not included in your lump sum payment. Most people, already fearful of their status, and grateful for the "help" being given by the credit-repair company simply keep throwing money away in the hopes the problem will eventually be resolved. The truly sad part is when the money dries up so does the "service". As soon as the client tells the credit-repair companies they have no more funds to send in they are informed they are on their own. As you know most people don't have to time or required knowledge to take up the issue and run with it.
That being said I am happy to report that all is not gloom and doom in the credit repair industry in San Diego County as fortunately there are companies who have established themselves as above board and honest in their dealings with both the consumer and bureaus. Typical signs you are dealing with a reputable organization:
They are able to prove they have been in operation for a number of years, not simply combining the years of practice for each attorney on their staff.
They are registered with the Better Business Bureau.
They take the time to ask all the right questions of the client to establish the validity of their claims.
They typically write dispute letters tailored to each negative account in question.
Take a small retainer up front, or no money at all, and then only charge you a nominal monthly fee, or for each negative piece of information verified and removed.
Discloses your legal rights should you decide to attempt credit repair yourself.
Does not claim Federal Trade Commission endorsement, the FTC does not endorse any business.
If a company can satisfy these requirements it is safe to assume they are legitimate, and usually highly successful in their efforts to effect credit repair.
Cleaning up your credit report is not difficult. You can choose to do it yourself, or hire the right service to perform the credit-repair work. Take the extra time to hire the right San Diego County company or your haste may end up costing you thousands of dollars and long-term financial damage.
by: Justin Lei
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