Repair Your Credit Rating

Credit repairing is not just for people with bad credit. Just about everyone could use a boost in their credit score. If your credit score is below a 760 then you could benefit by improving your credit rating. If you are applying for mortgage, looking to refinance, seeking employment, need insurance or other line of credit, you can increase your chances for qualifying and getting better loan terms as well as securing a job, if you raise your credit score.

What is Credit Repair?

Credit repair is a common phrase that refers to the practice of a consumer disputing inaccurate, misleading, or unverifiable data in their credit file to improve one's credit score.

Is Credit Repair Legal?

Credit repairing is legal and it is your right! You don’t need to hire a lawyer or a credit counselor to repair your credit rating. There is nothing a credit repair company can do to improve your credit standing that you can’t do for yourself. Credit repair is not as difficult as many people think. With the right knowledge and a little patience you can easily and effectively repair your credit rating.

Credit Report Errors Happen More Often Than You Think

It is your right and responsibility to ensure the accuracy of the items on your credit reports. The largest issue for most people is inaccurate credit history. 79% of all credit reports contain negative or erroneous data that cause a lower credit score resulting in higher interest rates, higher monthly payments or the inability to qualify for any type of loan.

There's a one-in-four chance your credit report contains an error serious enough to cause you to be denied credit. Negative items can severely impact one's credit score. A single 30-day late payment can drop a credit score down by 60 to 110 points. While a debt settlement can drop a credit score down by 45-125 points. Having questionable negative items removed from one's credit report has proven to be the most successful way to boost a credit score.

Repairing Your Credit

The most popular method to repair your credit rating is the credit bureau dispute. When you dispute a questionable negative credit item with the credit bureaus, you are demanding that they perform an investigation to determine whether or not the item should be listed on your credit reports. If the credit bureau cannot verify the accuracy of the item, then they are required to correct the listing or completely delete it from your credit report.

Under the Fair Credit Reporting Act, you have the right to request the credit bureaus verify any items in your credit reports you feel may be inaccurate, untimely, misleading, incomplete, ambiguous, unverifiable, biased or unclear. You have the right to question any items in your credit reports you feel give lenders, insurance providers, and others an unfair or inaccurate impression of your credit worthiness.

Monitor Your Credit

Vigilantly monitoring your credit report is the first step in ensuring that your credit score will be accurate and correct. Understanding your credit history gives you leverage to negotiate the best rates on a loan. Having good credit can save you thousands of dollars a month in lower interest rates and fees.