What Is Involved in the Credit Repair Process

Posted by Intuitive Credit Repair on December 28th, 2016

It is estimated that some 79+ million people living in the United States have at least one negative issue with their credit reports, which, in turn, adversely affects their credit score.  That number constitutes well over 28% of the population; and, factoring in that most children do not have credit scores (at least, we hope not!), the percentage of the adult US population who have negative entries on their credit reports is substantially higher.

What is also disconcerting is that in addition to the millions of Americans who are aware of these matters (i.e. “derogatory” information on their credit reports), there are some who have no idea that on their credit file,today, exists information which is not only unverifiable or outdated, but in some cases, belongs to someone else entirely.

When hiring a credit repair company like Intuitive Credit Repair based in California, or any reputable credit repair company, the process involved in correcting those errors helps ensure that your credit report has three characteristics, which are mandated by federal law.

These three characteristics are as follows:

Your Credit Report Must be 100% Verifiable

1.  The credit bureaus, by law, are required to only maintain that information in your credit file with respect to your credit score that is verifiable.  In a nutshell, it is up to the credit bureaus to demonstrate, when challenged, that information in your credit report has the right to be there.

Your Credit Report Must Be 100% Accurate

2. In addition to information found on your credit report being verifiable, the information must be accurate.  Accounts, dates, balances, late payments; all of these and more must be correct.  For instance, an account that was 29 days late should not report as 30 days late, as this would not be completely accurate.

Your Credit Report Must Be 100% Timely

3.  Although no negative item is required to be on any credit report, those items which are, and, in addition to meeting the accurate and verifiable criteria mentioned above, must be timely.  For instance, Chapter 7 bankruptcies cannot report any longer than 10 years; late payments, collections, and other accounts, should not, in most instances, report for longer than 7 years

Working with a Credit Repair Company:

It is true and we have stated it in previous articles:  Theoretically, there is nothing that a credit repair company can do for you that you cannot do for yourselves.  Government agencies are fond of reminding the public of that claim, as if credit repair Massachusetts agencies are some type of quasi-legal entity.  We are not.  That there have been credit repair companies who are illegitimate speaks no more to the profession than the illegitimacy of attorneys, doctors, or politicians speaks to the “quasi-legality” of theirs.

But you work with a credit repair company for one simple reason:  It is what they do for a living.  And, moreover, they will invariably have experience with multiple clients, which enables them to develop a successful strategy to achieve your credit goals.  This experience and familiarity, admittedly, a consumer may not have who chooses to go on his or her own.

The Best Credit Repair Companies:

After providing a credit repair agency with the most recent, up to date copy of your credit reports from Equifax, TransUnion and Experian, a representative from a reputable credit repair company will sit down with you (or discuss with you over the phone) exactly what erroneous or untimely or unverifiable information may exist on your report. 

Based on the information you provide them, they will develop a strategy, unique to your particularities, to challenge the credit bureaus.

What is always a good idea is for any credit repair San Francisco agency to have its clients have credit monitoring.  At Intuitive Credit Repair, we strongly encourage credit monitoring for all of our clients. There are a number of credit monitoring companies out there, each with potentially different scoring models, but almost all of them giving a general overview of our clients’ credit “health”.    The ones that you pay for on a monthly basis are generally better than the ones which are free.

Not only does having credit monitoring get you, the consumer, in the habit of monitoring your credit standing, it also allows you to see the results in real time of the progress being made as you work towards credit restoration. 

Education:

We believe that a good credit repair company, which really performs “credit restoration” of sorts, involves educating clients as well.  To know what actions to take which raise and maintain optimal credit scores is just as important as the overall process of correcting existing errors.

Just as importantly, knowing what to avoid with respect to maintaining credit is just as important.  This latter involves a lot more than just avoiding having new negative information added to your credit file.

California Credit Repair:

Although our company is currently based in California, we provide credit repair services nationwide:  From credit repair in Los Angeles, to credit repair in New York City, and beyond, our agency exists to ensure that the our clients use the law to their full advantage with respect to their credit standing.

For More Information, Please, Visit Us Now! http://intuitivecreditrepair.com/