Credit repair is a hot topic these days, with companies advertising all sorts of miracles that they are able to do for the people who have them. It is therefore important to make sure you understand the difference between repairing your credit yourself and using credit repair services. The latter is a company that is going to help you get your credit back up to scratch, but will not help you do it yourself. Credit repair software is able to improve your credit score and help consumers correct wrong and erroneous information on their credit report.
The main way in which credit repair software works is by getting rid of negative information that is on credit reports. Most of this information is made by the credit reporting agencies themselves, so fixing this information is very important if you want your credit score to improve Credit Repair Service. The software uses a complex process to check each piece of information on credit reports for accuracy. If any mistakes are found, the software will dispute this, and then the credit bureau will act accordingly.
Credit repair companies may require you to send them copies of any documents that may contain the errors. They are not likely to send you a simple letter saying that the information is wrong, and will probably require you to get in touch with the individual or company responsible for gathering this information. You may be required to provide details such as your full name, address and phone number. This is simply because the credit repair companies will use this information to contact you and ask you to pay up. Sometimes, the credit repair companies can even obtain court hearings against the credit reporting agency.
Credit repair services are not likely to fix inaccurate personal data on your reports. Some errors are due to spelling and grammar mistakes. Information that is incorrect because of information that was wrong or misleading is also not likely to be fixed. A good way to check for these problems is to check for the negative numbers on the credit reports. If there are negative numbers on your reports, there should be contact details available for them to be removed. If they cannot be removed, the negative information must be corrected by contacting the credit bureaus.
There are a number of credit repair services that you can contact in order to have any negative information removed from your reports. The major three credit bureaus are Experian, Equifax and TransUnion. You can contact each of them directly to request a review of your file. You will need the report for a free copy each year, and may have to pay a small fee if you wish to order a more in-depth report that includes more information. A disputing process with the bureau may take you longer but it is often more effective.
It is best to dispute all inaccurate or non-relevant items with the credit report agencies. You can do this through the official website, or by contacting them through an accredited agency. The faster you get started, the better. It is recommended that you get started sooner rather than later. If you don’t do so, the negative items can affect your score significantly.