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A few things to keep in mind before approching a credit repair service
By vishnu | May 26, 2008
Only false or erroneous items can be removed from your credit report and for these to be removed, they should be proven false by the credit bureaus. Item like paid-off debts that still show their existence in the report, double items, items after bankruptcy and should be removed off, etc. You can also take FREE financial advice from mortgage brokers in case you wish to buy a home and need to settle credit disputes.
There are few credit repair services that actually take pain in making your credit report better and do a reputable job of clearing off the incorrect items in your credit report. One should know that a bankruptcy will be shown for a period of ten years on your credit report, similarly accurate information remains on your credit report for seven years. By law, a credit repair service cannot ask for their fees until they have provided the service they promised. They must provide you with a written contract and a span of 3 days if you wish to cancel the contract.
You should be cautious of revealing your Social Security Number (SSN), bank and credit account numbers to the credit agencies; this poses a threat of identity theft. You should know who you are dealing with before signing any contract. These are few things that should be kept in mind before approaching any credit counselor or a credit repair service. In fact you yourself have the legal rights to file a dispute with a credit bureau for any information you consider to be falsely embedded in your credit report. The whole process takes a span of 30 days. Most unsecured credit stays on your report for 7 years. If you find any record related to this then write to the credit bureau and ask them to remove it.
Topics: Credit Ratings, Credit Reports |
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