What is Credit Repair?
Your credit report is compiled by the credit bureaus using data from your creditors and other information submitted to them. This report is used for loan financing, rental applications, utilities, job interviews, and much more. Since the credit bureaus compile and report information that your creditors supply without investigating its accuracy first, their reports often contain errors. You have the legal right to a fair and accurate credit report according to the Fair Credit Reporting Act (FCRA), a set of Federal laws designed to protect consumers like you. One of the most important consumer rights the FCRA provides is the right to dispute errors on your credit report. Credit Score Specialist can help you do so.
Helping consumers exercise their right to demand fairness and accuracy in their credit reports is our business. Credit Score Specialist provides everyday people with simple, effective, and affordable credit repair services designed to help improve their overall credit picture. We work with you to challenge inaccurate, outdated, and unverifiable information in your credit report by filing disputes on your behalf directly with the credit bureaus. With our proprietary methods and proactive interventions, we utilize a whole range of approaches tailored to your specific needs.
Over the years, we have encountered almost every credit issue there is: late payments, charge-offs, settlements, collections, foreclosures, repossessions, liens, judgments, bankruptcies, etc. All such negative information must meet the same criteria under the FRCA. We have developed a variety of systems and methods for getting questionable, inaccurate, and outdated information on our clients’ credit reports corrected or removed. To date, we have helped hundreds of clients throughout the country, providing our expertise with compassion at times of need, and enabling everyday people to move forward with their lives by helping them clean up the past.
Credit Repair Process
Dealing with inaccurate and unverifiable information on your credit report is not an easy task. Here are the steps of our proven process:
Step 1. Evaluation:
During the Evaluation process we review your credit report and find inaccuracies, what can be improved, which balances need to be paid down, or if credit needs to be established.
Step 2. Education:
After we have evaluated your report, we will equip you with knowledge of what steps you can take in the process, and the tools you need to take them, so we can reach your goals together.
Step 3. Establish:
If you do not have much positive credit, it is important to establish new credit so you can start to build a history of timely payments during the credit repair process.
Step 4. Dispute:
We address any inaccurate accounts on your credit report found during the evaluation, investigate items you believe to be inaccurate, and dispute these inaccuracies directly with the credit bureaus.
Step 5. Graduate:
After the dispute process has been completed it is time to for you to graduate from our services and take full advantage of your improved credit!
How Long Does It Take?
Credit Repair is not always a fast process. The Fair Credit Reporting Act outlines timelines that the Credit Bureaus and your creditors must adhere to. Once a dispute has been submitted, the credit bureaus have 30 to 45 days to respond (45 days if you have pulled your report from the AnnualCreditReport.com within the past 12 months).
With all of the advancements in technology, it is possible for the bureaus to get responses back sooner than this, but often times we find some unverifiable accounts actually take the full 30 days to respond. Once the investigation period is over it may still take 3 to 5 days to get your responses back and for the changes to be reflected on your credit report.
Once this cycle has been completed, it is often necessary to escalate the disputes or to send letters directly to your credit creditors and collection agencies. This process follows the same timeline. Each time the disputes are escalated it takes approximately 35 to 40 days (which we refer to as a Round). Our process includes up to 5 Rounds of disputes, but it can be extended if necessary.
While the process may take several months to complete, it is not uncommon to start seeing improvements in your scores in as little as 35 days. Our average clients stay in the credit repair process for 4 to 6 months.
Determining if Credit Repair Right for You
Taking the steps to start repairing your credit can be a little scary. There are things you need to take into consideration while determining whether credit repair is right for you.
First: There are some situations where credit repair is not always the best solution. If you are behind financially and are having a hard time keeping up on your monthly bills, then working to improve your scores may not be the best option. We have seen a single late payment drop a client’s credit score over 100 points. If you are not yet able to maintain your credit, repairing it would be a waste of time and money.
Second: If you are in legal trouble with an account or judgment, credit repair is not going to fix it. Remember, we correct inaccurate and unverifiable information on your credit report, but if your creditors have taken legal action against you, your best option may be to seek legal counsel.
Third: If you know that you the accounts on your credit report are accurate and verifiable, disputing the accuracy is frivolous and can be considered illegal. Remember that credit repair is about correcting inaccurate and unverifiable information on your credit report, and you cannot get around an account that is reporting accurately.
Repair Your Credit Now!
Sign up for your free consultation to see how we can help you improve your credit! Start improving your credit and qualify for financing and lower your monthly payments!