How To Get Past The Credit Repair Hype And Get Your Credit Cleaned
The FTC or Federal Trade Commission has been investigating consumer complaints of fraud and unfair business practices in the United States for more than 90 years. They also work on behalf of the consumer by gathering and publishing consumer information to help educate and inform them.
Some credit repair agencies have been charged with making fraudulent claims and you should be aware of this. Some companies might claim to repair your credit in a short period of time and the FTC says this is illegal.
Any credit repair agency must use care in the claims that they make, just as any company in any industry must. A company operating under the name of the national credit repair agency was charged with “engaging in fraudulent credit repair activities” by the Federal Trade Commission released in 2003.
The national credit repair agency claimed they could remove any information from a consumers credit report with a sophisticated software system they owned. According to the FTC complaint, the agency did not have a special system and by making this and other false claims they were able to entice more than 183,000 consumers to spend more than $53 million on credit repair services.
Your credit score reported by the credit bureaus are usually accurate and verified but errors can happen. If you think you have inaccurate or unverifiable information on your credit report than you have a right to dispute it. No credit agency should suggest that you dispute any information that is accurate.
Credit bureaus know that they have thirty days to investigate the disputed information that you have.
The FTC advises that you associate with a law firm when you decide to get credit repair help. A reputable law firm will know of many legal methods to use that will get you on your way to a better credit score.
Be aware of illegal methods, such as file segregation, using employer identification numbers and making false statements on credit applications. The consumer would be wise to steer clear of any credit repair agency that recommends any of these options.
Visit FTC and their official website to make a complaint against any companies.
Of course the first course of action is to order your credit report. Under The Fair Credit Reporting Act, you are entitled to a free credit report from each of the top three credit bureaus Equifax, Experian and TransUnion every twelve months.
You can get your free report at annualcreditreport.com or call for it at 1-877-322-8228. Or write to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281.
It may take fifteen days or more if you order by phone or by mail. You can get it instantly if you order online.
Click the link titled: credit repair right here: credit repair to learn more.
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