If you have poor credit or have found errors on your credit report that are causing financial stress, you may have considered hiring a credit repair company. But how does credit repair work? How can credit repair companies solve credit problems?
In this article, we will be answering all the questions you may have about credit repair companies.
What Does Credit Repair Service Mean?
Credit repair services help improve the credibility of their clients. What most people don’t know about their credit reports is that they’re very likely to have mistakes on them. These mistakes, whether due to fraud or a clerical error, could be the cause of long-term financial stress.
Remember: items on your credit report remain for 7 years. Having any mistakes on your credit report could prevent your credit score from ever being excellent. Credit repair companies exist because this is unfair: period. Read how can credit repair companies solve credit problems?
How Does Credit Repair Work?
Credit repair companies use their resources to help people with their credit issues. For example, if a client has an error on their credit report, credit repair companies will start and go through the dispute process. Their goal is to get the credit bureau to remove the offending item from their client’s credit report.
They cross-reference the credit report with the Fair Credit Reporting Act and other relevant laws. This way, they can see whether or not the credit report has been properly compiled. If a credit repair company finds evidence of a mistake or a fraudulent item, it will go through the dispute process.
Anyone can dispute items on their credit report. However, credit repair services understand the dispute process, the laws concerning credit items, and have the experience to get the results clients need.
Who Needs Credit Repair?
Credit repair is often sought after by people with poor credit. However, just because your credit score isn’t below 580 doesn’t mean you wouldn’t benefit from using credit repair services. Even people with credit scores in the 700s might have an item on their credit report that shouldn’t be there. They might also have missing items that would help their credit score if they were there.
Of course, people can set out to repair their credit. However, this takes a great deal of time and effort. People who don’t have the time or the know-how to do this should consult a credit repair service.
If you think you need credit repair, you will want to get a copy of your credit report. Get a free one at annualcreditreport.com. Go through it with a fine-toothed comb and, if you think one of your items is incorrect, read Read how can credit repair companies solve credit problems and contact a credit repair service to help you get rid of it.
Why Use Credit Repair?
Credit repair services save a load of time and hassle for clients. They take care of the business that most people don’t want to deal with.
This includes negotiating with credit bureaus, contacting lenders to help rectify errors, and making sure that everything is on the up-and-up legally.
Credit repair companies have legal experts that understand the relevant laws through and through. This knowledge is used to stick up for our clients and make sure they’re not being taken advantage of by large companies.
Now you’ve answered the question “how does credit repair work”. Need more help deciding whether or not to hire a credit repair service, or do it yourself? Check out our article on the subject: Credit Repair vs. DIY!
How can credit repair companies solve credit problems like The Credit Pros?
Not all credit repair services are created equal. Some credit repair services have specific focuses, such as disputes, financial advice, and fraud.
The Credit Pros is one of the few credit repair companies that have extensive experience with all of the above. But how does credit repair work with The Credit Pros?
The Credit Pros has a team of credit experts, legal professionals, and seasoned representatives who will help you through any credit situation you may have. If you have an error on your credit report, and you need help disputing it, The Credit Pros is here to help. If you’re a victim of identity fraud and it has affected your ability to get additional credit, The Credit Pros can rectify the situation.
Credit repair should not just include disputes. The Credit Pros also offers tools and insights to help you better understand your financial situation. With our Credit Pros app, our clients can see their credit scores in real-time, as well as other important information. For more info on the Credit Pros app, check it out here.
To get started with The Credit Pros, simply call 800-411-3050 and ask us a question. We’ll help you through it.
Frequently Asked Questions
1. What can be removed with credit repair?
A credit repair company promises to remove a hard inquiry from your credit history for a fee, but inquiries can only be removed if they’re the result of fraud.
2. What is pay for delete?
Pay for delete is when a borrower agrees to pay off their collections account in exchange for the debt collector erasing the account from their credit report. Accounts that are sent to collections typically stay on a consumer’s credit report for seven years from the date of first delinquency.
