Is credit repair legal?

Yes!  This credit repair process is 100% legal.  In fact, congress passed laws allowing for and specifying the procedures for credit repair because of consumer complaints about inaccuracies and incomplete credit reports.   One of the key laws (The Fair And Accurate Credit Transactions Act) was recently updated with many important provisions. Congress has also created "The Credit Repair Organizations Act," which authorizes a third party to assist you in challenging inaccurate credit reports. This is why so many "Credit Repair" companies are now charging $500 or more to "help" you correct your reports.

Are there other laws that affect the credit repair process?

Yes, some laws directly impact the reporting on your credit reports. Others have an indirect affect by clarifying processes for disputes and collection procedures between consumers and creditors. These include: The Fair Debt Collections Practice Act, The Consumer Credit Reporting Reform Act, The Consumer Reporting Employment Clarification Act, as well as many state laws.

How does the credit repair process work?

Simply stated, the credit bureaus, as well as creditors, are required to follow accuracy procedures before they can legally place information on your credit report. Any information that is not complete, or not accurate, or not verifiable is not supposed to remain. During the credit repair process creditors and credit bureaus are forced to back up their claims of accuracy. Once an error is identified, if it can't be proven 100% accurate, the item must be removed. There are other methods also used in special situations but most situations fall under this scenario.

Does paying off old bills repair my credit?

Old debts need to be handled very carefully. It would take too long to explain in detail here, but to summarize one key problem: When you pay an old debt off, it does NOT remove it from your credit report, as many consumers assume. Instead, it is updated as a PAID collection or PAID charge-off, etc. This Is better than unpaid, but not as good as it being removed entirely. Sometimes PAID is the best you can do, other times you can do better. There are other factors that need to be weighed before approaching old debts. Collection statues need be considered and will vary from state to state.

How will I know when the negatives come off my reports?

You will receive an update from the credit bureaus themselves for each issue that we initiate an action on.

How long will the whole process take?

In the vast majority of cases, clients see results in as little as 30 days. The length of time to complete the full program will vary from client to client. Each case is unique. The number of issues, the type of issues, and the participation level of the creditors and bureaus will all have an impact on the speed of the process. Typically, the range will be from 30 days to 3-4 months.

Is it possible for an item that was removed to be put back on my credit report?

It is possible, but extremely rare. The credit bureaus are required by law to send a 5-day notice before placing something back on a consumer’s credit report. In addition, there is a higher burden of verification placed on the credit bureau. Because of these added provisions, it is extremely rare for the same item to be reinserted.