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Credit Repair is an ongoing process, like the growth of any other system. A system that works perfectly will require regular monitoring and regular inspections to make sure that the objectives of the system are achieved. The same is true for fixing one’s credit history, including understanding the various regions of interest that may be reported, identifying the numerous mistakes which may be made and learning how to repair credit score errors. One of the best ways to improve your credit score is through Credit Repair.

There are several areas that are generally confused throughout the credit repair process, the first of which is inaccurate or incomplete information. This may result in quite a few problems, like the inability to get approved for home, auto and business loans; being declined for employment; having poor credit report ratings; not qualifying for insurance; not being able to obtain certain professional licenses; and a large number of other issues. For instance, missing data from a credit report can lower an individual’s credit score by up to 200 points. The usual cause of this problem is the failure to report accurate information.

While there are no federal laws to protect consumers from inaccurate or incomplete information, the federal trade commission has taken measures to make certain that all customers have access to accurate and fair reporting. The federal trade commission enacts many rules and guidelines to help Americans understand and avoid common mistakes and the negative consequences of those mistakes. By way of example, the three largest credit repair agencies in america must notify consumers of the differences between debt settlement and bankruptcy in addition to the options available to them. The commission also requires credit bureaus to provide consumers with reasonable notices regarding changes in credit scores, any negative action that might be taken against them and other important information. Among the biggest issues that consumers face is the inability to correctly understand the Fair Credit Reporting Act and its own rights.

Under FCRA, creditors are prohibited from making false statements about a consumer’s credit report. But, it doesn’t matter if these statements are true or not. For instance, it is perfectly acceptable for a creditor to report inaccurate negative information on a consumer’s credit report if that creditor reports that information to all the credit reporting bureaus. So, what if a consumer decides to challenge that negative information? Is it officially valid?

This is a tricky question. In theory, it might seem that a creditor has every right to include inaccurate negative things on a consumer’s credit report. But that would mean that the creditor is practicing false advertisements. Most credit repair services dispute negative items on a consumer’s report. If the credit reporting bureaus take the dispute badly, the creditor will be required to remove inaccurate negative items. But this will hardly ever happen.

Many credit repair providers will simply instruct their clients not to take steps to fix the problem. Why would they do that? If a creditor won’t take action to correct inaccurate information, the credit bureau is under no obligation to remove erroneous information. The credit bureau can choose to investigate the dispute and take action to investigate prior to making a determination. Then it might issue a letter to the creditor notifying them that the information is inaccurate and have to be updated.

This situation plays out over daily. A consumer decides to purchase a car and does a little bit of research to find out what the price will be. After talking with a dealer, he decides to purchase the car. A few months pass by and he calls the dealer and says the cost he’s offered is far less than what he had been told. He asks for a refund and is told he cannot get a refund because the credit report comprises an error.

The next step is for him to send a letter to the credit reporting bureau, disputing the errors on his credit report. If he had done this before employing the credit repair company, he would have managed to generate a formal dispute. If he had not had the help of the credit repair company, he might have had to try to make the dispute himself. By using the services of a credit repair company, you are given the benefit of someone else being able to help you in this aspect of credit repair.