subject: Credit Repair Agencies - Find Out How Credit Repair Agencies Clean Up Credit Reports [print this page] If one can clean up the credit in a limited or less time the chances of getting an approval for a loan becomes very high. Serious faults like bankruptcies, foreclosure, late payments put a negative impact on the credit profile of the customer. The customer gets into serious handicap situation if he does not do something about repairing his profile in the eyes of the lenders.
The process of repair is process oriented and is generally divided in three steps.
1.The company asks the individual to get his profile from all the three bureaus i.e. Experian, Equifax and TransUnion.
2.These are the major three credit reporting agencies. The credit repair agency reviews the report along with the customer and then recommends which items are to be disputed.
3.The company then gets in touch with the bureau and challenges them with the disputable items.
Under the Fair Credit Reporting Act the company can get the wrong information corrected or removed and any negative information changed if it is found unverifiable in the next 30 days. No accurate information can be removed unless it is seven years old.
Credit repair companies charge you money for this job. A person can do this on himself even for free if he can follow the process on his own. There are many shady credit repair companies which make lofty promises to the customers and loot them out of the money they have. There are many non profit credit repair company which help you in times of need by working on your credit score and mange your finances for you. The National Foundation for credit counseling is a nonprofit network which can be referred to for the purpose of locating a good company for credit repair.
Many find themselves wanting credit report repair for a credit score of 700+, but dont know what is necessary to achieve this goal. Disputing negative items on your credit report can be the first step to boosting your score. Negative items on a credit report must be validated, and those that arent must be removed. The end result is a credit report repair for the consumer. For more information on legal and efficient ways to repair credit, visit the following link:
